Americans spent just over $28 billion last year on medical supplements. That’s more than the video game industry (just about $20 billion) and about 28 times the education budget here in our nation’s capital.
Monthly Archives: August 2011
Achieving Rough Justice Can Be Messy: A Postscript on the Dominique Strauss-Kahn Affair
Posted in Social PolicyDespite ending with the dismissal of all charges, it seems to me at least a bit of rough justice was achieved. First, what is rough justice? Well it is not a Rolling Stones lyric or a new footwear company. Rather to me it simply means “getting it mostly right”. DSK: For having some level of… Continue Reading
Sisyphus To Run Standard and Poor’s
Posted in Banks and Financial ServicesIf S&P is looking for a new leader to run a profitable business, Doug Peterson formerly of Citigroup is surely up to the task. However, if Standard and Poor’s is looking to restore its tarnished reputation, Sisyphus is more likely the man for the job.
What do Kobe Bryant and Dominque Strauss-Kahn Have in Common?
Posted in Social PolicyKobe: Hey, DSK. Congrats. All charges dropped. Nice work. I have to tell you I thought they had you nailed. DSK: So did everyone else. Kobe: You must be angry as all hell. Are you going to sue the prosecutors? DSK: No, no, of course not. Did they act too quickly? No doubt. Should they… Continue Reading
Bankers Doing Bad Things: “Have you no sense of decency, Mr. Noack and Stifel Financial?”
Posted in In the CourtsYes, this is America and everyone is entitled to make a living. But pushing risky bonds on five Wisconsin school districts while failing to disclose the risk crosses the line. Even the often silent (and slow to react) SEC agrees and has filed a civil complaint against Mr. Noack and his firm, Stifel Financial.
Beware Small Businesses: Hedging FOREX to “Avoid Taking a Bath” Could Land You in the Ocean Without a Life Raft
Posted in Consumer ProtectionAs the economy becomes more global, it’s not just Fortune 500 companies that have a presence or connection with overseas markets and currencies, but it’s businesses as small as a local travel agency specializing in Australian travel or an online retailer selling products made in France that are vulnerable to swings in the value of the U.S. dollar… Don’t get me wrong, I don’t blame folks for this innovative way to hedge exchange rate dependency, but they are lambs to the slaughter for the bevy of shady dealers out there.
Judge Rejects Raj Rajaratnam’s Request for a New Trial in Sweeping Fashion
Posted in In the CourtsJust about anyone who goes to trial and loses seeks to have the Judge review the jury’s decision (especially someone with the Raj’s resources). The hope – prayer – really is that the judge will find that that “no reasonable juror” could have found the defendant guilty on the evidence presented by the prosecution.
The Latest Madoff Decision: “Net Winners” Become Big Losers
Posted in In the CourtsThe 2nd Circuit agrees with Mr. Picard. I do not. The division between “net winners” and “net losers” should not be sacrosanct.
Sleazy & Poor Judgment (aka Standard & Poor’s) Can No Longer Hide Behind the Protections of the First Amendment
Posted in Banks and Financial ServicesRegrettably an S&P opinion still holds sway. In the short term it will wreak havoc on the stock and bond markets; yesterday the Dow Jones plunged over 630 points, the worst drop since 2008. Over time it will fester and linger, well into and through November when both parties try to blame the other for this “black eye” to the pride of America.