Making Out Like Bandits

Making Out Like Bandits

It seems like almost every week brings news about Wall Street’s latest sins. “JPMorgan Is Penalized $2 Billion Over Madoff,” blared one recent New York Times headline, when the paper explained that Bernie Madoff, the infamous Ponzi scheme con artist,...
Making the World Safer for the Next Bernie Madoff

Making the World Safer for the Next Bernie Madoff

Sometimes, members of Congress follow harebrained logic. If the consequences weren’t so serious, it would be hilarious. Consider a House bill co-sponsored by Reps. Spencer Bachus (R-AL) and Carolyn McCarthy (D-NY) that would essentially let investment advisers...