Wednesday, June 21, 2017

United Nations Economist Arrested for Overworking and Underpaying a Maid; Stiglitz Co-Author

Hamidur Rashid 
A United Nations economist has been arrested in New York on fraud charges related to his hiring of a domestic worker.

Hamidur Rashid was charged Tuesday in federal court.

Authorities say the 50-year-old employee in the United Nations Secretariat underpaid and overworked a domestic worker at his Manhattan residence.

He’s charged with visa fraud, access device fraud, aggravated identity theft and fraud in foreign labor contracting. His lawyer has declined to comment.

Prosecutors say Rashid paid the worker well below what he reported to the Department of State and the U.N.

They say he set up a sham bank account to spend for himself the wages he claimed to be paying the Bangladeshi woman and obtained a visa for the domestic worker by lying about what she would be paid.

Rashid is the Chief of Global Economic Monitoring at United Nations and holds a PhD from Columbia University.  He was formerly director-general for multilateral economic affairs at the Ministry of Foreign Affairs in Bangladesh.

Most recently he wrote a paper with crony, elitist Keynesian economist Joseph Stiglitz stating that
"In the US, quantitative easing did not boost consumption..."
In the paper, they did not discuss his skimming plan that boosted his personal consumption.

But rather they hinted at more central planning of the banking sector by calling for targeting bank loan levels.
 To have the desired effect, QE should have been accompanied not only by official efforts to restore impaired lending channels (especially those directed at small- and medium-size enterprises), but also by specific lending targets for banks. 

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