Refunds at the Casino, Courtesy of Taxpayers [Editor’s Note: Gary Marshall, who passed away yesterday at the age of 81, was best-known for creating such mega-hits as “Mork and Mindy” and “Happy Days” (TV), and for directing films like “Pretty Woman” and “The Princess Diaries.” But, my favorite Gary Marshall role was as a supporting...Read More
Double-Standard? And How! If the U.S. government handled the housing crisis the same way it treated Wall Street after the 2008 financial crash (emphasis on “treat”), here’s what would have happened: 1. It would long ago have purchased — at inflated cost(!) — the homes of every underwater homeowner in the country; 2. It would then...Read More
An Open Letter to the Federal Reserve Chairman Dear Ben Bernanke (er, Santa Claus): Speaking for millions of my fellow investors, I want to thank you for all your efforts to date, uh, “supporting” stock prices. I/we are certainly better off for it (at least in the short run; in the long run, direct federal...Read More
“We” Minus the “Us”; or,More Pronoun Confusion The bailout and stimulus that we have administered to ourselves have left us without much cushion. There may be room, and even necessity, for a little more stimulus. But we have to get this moment right.” –Thomas Friedman, “Got to Get This Right“; The New York Times (11/27/2010)...Read More
“Deja Vu All Over Again?”* The number of buyers who signed contracts to purchase homes dropped in May to the lowest level on record, a sign the housing recovery can’t survive without government incentives. The National Association of Realtors said Thursday that its seasonally adjusted index of sales agreements for previously occupied homes tumbled 30...Read More
One Stinger vs. Thousands Touring the Desert Botanical Garden in Phoenix this winter, I remember the guide fielding a question about whether anyone had ever been injured by cactus needles. He answered that he’d seen a severe injury just once: someone who encountered a bumble bee was so undone that they backpedaled right into a...Read More
