In an otherwise not-all-that-objectionable op-ed piece in Monday’s WSJ, Republican New Hampshire Senator Judd Gregg (or one of his staffers) writes: The growth in tax revenues from 2002 through 2007 were some of the largest in history. The tax system became much more progressive, with the top 20% of income earners paying 85% of the [...]
A lot of people have been calling Bernie Madoff’s apparent $50 billion Ponzi scheme the biggest financial fraud in history. Christopher McKenna, a business historian at Oxford University who stopped by TIME for a visit today, doubts it. “I think Kreuger is bigger,” he says. “The question is how do you measure that. His losses [...]
The House Financial Services Committee begins its Bernie Madoff inquisition this afternoon, and the Securities and Exchange Commission is sure to get its share of flack from both witnesses and committee members. Meanwhile, Sunday’s New York Times contained an epic tirade against the SEC and other blameful parties (mainly the rating agencies) by hedge fund [...]
