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Double Dipping

What happened in yesterday’s market underlines the deep bind we now find ourselves in. We have politically precluded new revenues and have shifted our attention to deficit reduction at a time when we would need to invest. We have already [...]  Read more

Lending Club

Have you ever wondered why a bank charges an 18+% interest rate on credit card balances (regardless of credit history), but only pays depositors 1% on their balance? These are fantastic economics for bank management and bank stockholders, but not [...]  Read more

Rewriting the Tax Code

I wrote a bit of a rant recently about the structural changes in our economy and society that need to be addressed. What we are getting instead – not surprisingly – is a lame last minute compromise on the debt [...]  Read more