His name is Frank DiPascali. He was in charge of the smooth operation of Madoff’s Ponzi scheme on Floor 17, a top-secret operation needing a special pass to visit , and featuring an ancient IBM computer server, a bunch of … Continue reading →
Here’s an article on the history of taxes in America. Summary: early on there were few, and the federal taxes that were levied were temporary and used to raise money to fight wars. But since the beginning of the twentieth … Continue reading →
Here’s a little tidbit you may have missed: Just nine people accounted for nearly 2,700 of the emergency room visits in the Austin area during the past six years at a cost of $3 million to taxpayers and others, according … Continue reading →
When Obama took it on himself to fire GM CEO Rick Wagnoner, this is how it went down, according to someone who ought to know: “The president said he had decided to do that. He wasn’t asking for opinions,” said … Continue reading →
Most of us are unfamiliar with the details of the world of finance that led us into the current crisis. Except for those in the business, whoever heard of tranches and derivatives, of the uptick rule and the quants, until … Continue reading →
I noticed—in this piece that purports to tell us what jobs are probably not going to go out of style in the near (or even distant) future—that “accountant” led the list. Well, that’s awfully nice—for accountants. But having been up … Continue reading →
It’s hard to know exactly what to think of this: …[T]he private-sector worries about the plans being cooked up by Geithner and Summers extend into countless corporate suites, start-ups, and small businesses far beyond Wall Street””and that until recently, the … Continue reading →
There’s an awful lot of outrage going around. The American people are outraged that their hard-earned money has been taken from their pockets and doled out by Congress and the administrations (Bush’s first, and now especially Obama’s) with virtually no … Continue reading →
When it’s a contractual obligation. Not having a lot of experience in the corporate world myself (my only stint having been a summer job in college) I always thought the word “bonus” meant something extra, a special payment given for … Continue reading →
…that the law is an ass. Is there no way for the Obama administration to stop huge amounts of taxpayer money from getting to the very executives responsible (or irresponsible) for making such lousy and self-serving decisions, and bringing us … Continue reading →
I hadn’t previously been aware of these facts about controversial Harvard ex-President and current National Economic Council head Larry Summers: Born in New Haven, Connecticut, on November 30, 1954, Summers is the son of two economists, Robert Summers and Anita … Continue reading →
There’s a lengthy and heated argument going on today about what caused the recession. Not surprisingly, people are inclined to see what fits in with their worldview. Conservatives and libertarians tend to be on the “it’s the fault of too … Continue reading →