Say what you will about Iran, but when it comes to white collar crime, they apparently don't screw around.

I can't help but wonder if the United States would have fewer underlying economic problems if we just executed a few Wall Street bankers so the rest of them would get the message.

The British bank HSBC ignored US money laundering laws and allowed drug gangs and other criminal organizations to funnel their money through the bank. For engaging in this worst sort of criminal behavior, the bank's punishment is going to be a $1.9 billion fine as part of a "negotiated" deferred prosecution agreement -- essentially probation -- ( Read more... )

Consider the following premises. First, the price of a company's stock reflects its economic value--no sentiment, no wish-washy "feelings", just cold hard economic reality reflected in cold hard dollars. Second, in a country that has a truly functional democracy as well as a purely free market, corruption cannot be tolerated, since it distorts ( Read more... )

Like former "President" Bush, another asshole politician who won't be missed.

Ill. gov unanimously convicted, tossed from officeSPRINGFIELD, Ill. - Gov. Rod Blagojevich was unanimously convicted at his impeachment trial and thrown out of office Thursday, ending a nearly two-month crisis that erupted with his arrest on charges he tried to sell ( Read more... )

...It's gone and vanished so I have to be good. So I can see my money when I leave this world.

Oh, hi. Hey, do you all remember that $700 billion bailout package we were asked to swallow? That would be the one where we were all told that if Congress did not act immediately, the economy would completely collapse to a point that would make the ( Read more... )

Tomorrow is the start of the 111th Congress and present at that occasion will be one Roland Burris, a 71-year old African-American former Attorney-General of the State of Illinois. He was appointed the junior senator from the great state of Illinois by the current elected governor of that state, Rod Blagojevich. The appointment in itself was ( Read more... )