The dumb money is fairly easy to spot. It’s the money that always shows up late to the party, wearing yesterday’s fashions. It watches TV and thinks the reality shows show reality…it thinks Ben Bernanke is a great economist…that the SEC protects investors from fraud and misrepresentation…
June 10th, 2009 | Bill Bonner | 0 comments | ContinuedAll Posts Tagged With: "SEC"
Country Has Moved Towards More Government Intervention in Economy
In 1986, 40% of Americans thought government regulated the economy too much. Now, 40% think it doesn’t regulate enough.
June 4th, 2009 | Bill Bonner | 1 comment | Continued
A Country of Madoffs
This week began with a squabble. John Thain was sacked as head of Merrill Lynch after giving out $4 billion in bonuses – just before announcing $15 billion in losses for the 4th quarter of ’08. (…)Then Citigroup announced that it had bought a new corporate jet for $50 million. Seemed a bit rich for a company that had just lost $8.3 billion. What sort of devilry is this? Where can you can lose billions…take billions in handouts from taxpayers… and still coddle executives with new planes and million-dollar ‘bonuses?’ Penalties would seem to be more appropriate…
January 30th, 2009 | Bill Bonner | 0 comments | Continued
