A Cut for Everyone But the Taxpayer “Bribe” (verb): to induce or influence by or as if by bribery. “Bribe” (noun): money or favor given or promised in order to influence the judgment or conduct of a person in a position of trust. –Webster’s Dictionary Of course, the whole thing is that “no laws were...Read More
“Learning to Love Insider Trading”!!?? Want to keep companies honest, make the markets work more efficiently, and encourage investors to diversify? Let insiders buy and sell. –Donald J. Boudreaux, “Learning to Love Insider Trading”; The Wall Street Journal (10/24/2009) Goldman Sachs director Stephen Friedman resigned from the New York Fed in May, after The Wall...Read More
The Age of Regulatory Capture Millions of Americans lose their homes and jobs, Wall Street devours trillions in government bailouts while its leaders pay themselves billions . . . and there’s still no discussion of meaningful financial reform? Incredible. Here’s a quote from one of the best Op-Ed piece I’ve seen this Summer, contrasting the...Read More
“Geithner Says China Has Faith in U.S.” –headline, The New York Times (6/3/09) [Editor’s Note: Sorry, I’m on a China kick — just one more in that vein. And yes, it does bear on real estate. In fact, whether China keeps buying U.S. debt — and therefore whether mortgage rates stay low — is probably...Read More
Stock Buyers Strike . . . For Good ReasonWhen will the stock market finally bottom?Here’s a thought: it won’t be when P/E ratio’s hit some magic level, or market cap’s (capitalization’s) become tantalizingly low, or even when the housing market finally stops falling. It will be when Bernie Madoff is in prison, and he and...Read More
