Don’t blame financiers for the recent financial crisis, Professor Larry E Ribstein says in his monograph, How Movies Created the Financial Crisis. The true villains, he reveals, are Hollywood moviemakers. Their films, Ribstein tells us, “created the ‘financial’ crisis by presenting a particular narrative of recent economic woes in which finance played a starring role”. Their motive: to “help audiences accept not only [the movie] Wall Street 2, but also the regulation of hedge funds and the prosecution of financiers.”
Ribstein is the Mildred Van Voorhis Jones chair in law and the associate dean for research at the University of Illinois college of law. His article was published in the Michigan State Law Review….
So begins this week’s Improbable Research column in The Guardian.
BONUS: Professor Ribstein warns the US Senate against the “over-deterrence effect of criminal penalties”
BONUS: Professor Ribstein explains “Why Corporate Political Spending Is Awesome“.
