US academic superstars played leading roles in the 2008 financial collapse. . . . Backing every policy decision leading to Lehman Brother’s bankruptcy in 2008 and the $700 billion public bailout was a team of prestigious Harvard and Columbia economists all on the payroll of corrupt financial institutions. None of these academic offenders ever disclosed to their universities, their students, their publishers or the press the financial gains they were making promoting deregulation. These wolves in sheep’s clothing subverted the ethical base of their discipline – and their own consciences – without moral pause because economic departments don’t require professors to come clean with conflicts of interest.
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“The cohort of professors who broke the back of the American dream” « Real-World Economics Review Blog
