Risking the ire of his base, New York City Mayor Michael Bloomberg told a D.C. audience that deficit reduction plans should include treating hedge fund partners’ carried interest as ordinary income.
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Letter From Washington: Not Too Big To Exist, And Not Too Bad
Even a regulation with enormous net benefits will cost somebody, somewhere, something. As such, it’s easy for libertarians to rag on proposals like Bernie Sanders’ “Too Big To Exist” and point out how ridiculous they are.
But it’s much harder for many libertarians to engage in introspection that reveals Sanders’ proposals could actually achieve the supposedly libertarian goal of establishing an unregulated financial market.
It wasn’t just that the 42-year-old from Syosset, NY has a talent for the game, although $1.5 million in profit playing online poker since 2006 suggests he clearly does. It wasn’t just that Cliff Josephy was shrewd enough to start an online poker training web site with a former client, although that too has padded [...]
Uncertainty Surrounds Fed’s New Powers Under Wall Street Reform Law
The sweeping Wall Street Reform and Consumer Protection Act of 2010 that became law in July expands the government’s role in regulating banking and financial services while consolidating some existing regulatory bodies, creating new ones, and attempting to promote accountability and transparency. A great deal of power under the law championed by Sen. Chris Dodd [...]
Dave Behr Looks At The MBA, a/k/a The $260,000 Piece Of Paper, And Finds It Lacking
We’ve got scientific proof that law school is a bad investment. What about other expensive graduate programs? Dave Behr looks at the MBA, a/k/a the $260,000 piece of paper, and finds it lacking.
FIRE Podcast – Peter Chapman Talks About The Last Of The Imperious Rich
Peter Chapman, author of The Last Of The Imperious Rich: Lehman Brothers 1844-2008, is the guest on this week’s FIRE News podcast. Peter talks with host Arin Greenwood about the fascinating Lehman brothers themselves. He also describes the firm’s rise and fall, from its start in the cotton trade in Alabama to its years of [...]
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