| Jan 9, 2013 | Economy / BusinessWho won the New Year’s Eve budget standoff? In one sense, everyone scored a “victory.” The deal that Congress eventually blessed includes scores of provisions. Most Americans can point to at least one that works to their financial favor. But the real...
| Dec 26, 2012 | Economy / BusinessWall Street financial hucksters can be downright satanic in their pursuit of killer profits, but here’s one that puts its hellishness right in its name: Cerberus Capital Management. In Greek mythology, “Cerberus” is the name of a 3-headed dog that...
| Jun 25, 2012 | Economy / BusinessI spent 22 years in the financial services business. Beginning in the 1980s, I worked at exchanges where we traded everything from futures on soybeans to shares of stock to options on interest rates. During these boom years for the U.S. and global financial markets,...
| Jun 18, 2012 | Economy / BusinessSometimes, 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...
| May 7, 2012 | Economy / BusinessThe power suits making billions off the stock market are always trying to assure us that their trading serves a socially redeeming purpose. They steer money to companies and industries that make our economy more productive, they claim. In reality, the majority of...
