A significant literature has documented trend increases in pain among Americans over the last two or three decades. There is no single explanation seeming to work well for the increase. We show that, rather than resulting from a smooth upward trend, the increase was almost entirely concentrated...

This paper applies the theory of structured finance to the regulation of asset backed securities. We find the current regulation in Europe (Article 405 of the CRR) and the US (Section D of Dodd-Frank Act) to be severely flawed with respect to its key intention: the imposition of a strict loss...

Preface -- The coming financial crisis : it's worse than you think -- Is the United States becoming Greece? -- The debt deniers -- It's about entitlements, stupid -- Social security : facing up to ponzi -- Medicare: the 800/pound gorilla -- Medicaid : strike two for government health care --...