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Steve Stanek

Michigan’s public employees’ pension system is picking up the tab for a failed movie studio because of ill-fated guarantees designed to bring business to the Wolverine State.

Federal prosecutors this month leveled insider trading charges against Level Global Investors LP co-founder Anthony Chiasson and other fund managers. But some economists question whether such activities should be considered crimes.

Bernanke Puts New ‘Twist’ on Old, Failed Policy

by Steve Stanek on September 28, 2011

Steve Stanek of FIRE News discusses “Operation Twist,” the Federal Reserve’s program to move hundreds of billions of dollars of the Fed’s investment portfolio into longer-term debt. Critics argue the program is a new twist on an old policy that failed in the 1960s.

Do Fed’s $1.2 Trillion in Loans Indicate a Worse Crisis Than We Knew?

by Steve Stanek on September 14, 2011

Steve Stanek of FIRE Policy News discusses a recent revelation of $1.2 trillion in secret bailouts to US and foreign-owned banks and Wall Street firms.

Financial services firm Wells Fargo has announced it will test a $3 monthly fee for debit card users in select states, the result of new “interchange” regulations for debit cards that go into effect October 1.

Steve Stanek discusses the adjustment to the debt ceiling, the proposed spending super committee and the effects of the new ceiling on credit ratings and interest rates.

California Gov. Jerry Brown (D) has signed legislation requiring out-of-state online retailers to collect and remit sales taxes, even if the business has no physical presence within the state. The world’s largest online retailer – — has responded by filing a petition to allow voters in the state to decide the matter. To place [...]

To Florida Governor Rick Scott (R), a new law designed to lower costs for property insurance carriers and increase competition is a “significant step forward.”

To Christian Cámara, Florida director of The Heartland Institute’s Center on Finance, Insurance, and Real Estate, the law is an “epic disappointment.”

The United States government may believe Bank of America is too big to fail, but a Naples, Florida attorney has proven it’s not too big to go into foreclosure.

Report: Flood Insurance Rates Far Too Low Relative to Risks

by Steve Stanek on May 26, 2011

Flood insurance rates in many areas are only one-third as high as they should be to reflect the true risk of flood damage, according to a new report from the Property Casualty Insurers Association of America.

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