The National Ponzi Scheme

The U.S. Securities and Exchange Commission (SEC) was set up to combat fraudulent practices. The SEC’s website explains that “Ponzi schemes are a type of illegal pyramid scheme named for Charles Ponzi, who duped thousands of New England residents into...

Stop the Assault on our Public Markets

In a widely-circulated NY Times column (Jan 13, 2009), Bob Herbert proposes a 0.25% transaction tax on every stock trade.  If this idea, which has been garnering support among politicians, passes into law, it will mark another devastating — perhaps fatal...

Republicans as Democrats

A brief glimmer of sanity among Congressional Republicans has been followed, almost immediately, by a return to the more traditional Washington insanity. Last week, every single Republican in the House of Representatives voted against the Obama administration’s...