Entries by emptywheel

The Mafia Bank

In his book, McMafia, Misha Glenny describes how mobsters filled the vacuum left by communism in Eastern Europe and Russia. The new circumstances bewildered old international institutions. All had to improvise and no party quite understood the implications of its actions or their unintended consequences. One group of people, however, saw real opportunity in this […]

Share this entry

“Creative Destruction” as Catchall

Matt Yglesias has responded to my post on the destruction wrought by some capitalism with a fairly narrow complaint about my sarcastic comment about what I still maintain his original post entailed: an apology for the kind of destruction that Bain Capital engages in because (he argued) all successful capitalism creates such destruction. I don’t […]

Share this entry

The Greatness of America: “Ashes of Doomed Factories, Pink-Slipped Workers, and Towns Laid to Waste”

I’m utterly delighted with this paragraph: But as is so often the case, the reality is more complicated. Almost every successful business career is built on the ashes of doomed factories, pink-slipped workers, and towns laid to waste. Not because it’s true–it’s not! But because I’m so amused that someone (in this case, Matt Yglesias, […]

Share this entry

Our New Teachers about Rule of Law

The Gray Lady is dedicating space this week to reflections on Gitmo. In addition to a debate on it (more on that tomorrow), it offered Lakhdar Boumediene and Murat Kurnaz space to tell their stories, albeit in the opinion section. Both men told of their terrible treatment. But both also discussed what they learned about […]

Share this entry

Fast and Furious Money Laundering

Every time I read Treasury’s updates of sanctions designations, I’m reminded that two of our three new trade partners–Colombia and Panama–are really centers for corruption, money laundering, and crime. One of three new kingpins added to the list is from Colombia (the other two from Mexico), something like 23 of 50-some people and companies being […]

Share this entry

Commodity Bubbles and the Resource Curse

The FT links to this Oxford Policy Management study showing that 15 low and medium income countries have become newly dependent primarily on some commodity–fuel or minerals–for export income in the last 14 years. The number of low- and middle-income countries1 that depend on minerals for more than 25% of their tangible exports – defined […]

Share this entry

William Welch, Jeffrey Sterling, and the Sixth Amendment

As Josh Gerstein reported, the government has submitted a filing in its appeal of some rulings in the Jeffrey Sterling case that reveals a little more about their reason for appealing. The key detail is that the government considers two people, about whom the government withheld impeachment information, so critical to their case that without […]

Share this entry