Masters of the Universe category archive
Three-Card Monetary Monte 0
We get a lot of mail inviting us the “free meals” to learn about “exciting investment opportunities” to provide “financial security.”
So does Tony Brown.
We always chuck the mail directly into the round file, but Brown decided to accept some of the invitations. He writes of them at the Minneapolis Star-Tribune. Here’s a snippet (emphasis added):
This issue — the financial-services business’s habit of exploiting rather then helping people who are preparing for retirement — is why the Obama administration in April enacted so-called “fiduciary” regulations for financial planners and advisers.
These rules will require the financial-services industry — for the first time — to conduct business “in the best interests of their clients.”
You thought that already was the obligation. It is not.
The Entitlement Society 0
The sucklers at the public teat aren’t who you think they are.
Responsible Fiscals 0
You can’t make this stuff up. (Actually, these days, you could, but you don’t have to.)
Coal Dustup 0
In an stunning example of “if you don’t let people talk about it then it must not be happening,” a coal waste company sued a citizens group for slander because they complained about the ever-present effects of the dust blanketing their community from the ash pit.
Just follow the link.
You can’t make this stuff up.
The Old Shell Game 0
Reporter shows how easily a shell company can be created in Delaware.
Via C&L, which also provides more detail.
Systematizing the Game 0
At the Bangor Daily News, Steven Barken wonders what would happen if Monopoly imitated the American economic system. For example . . .
If Monopoly were more like real life, here’s what would happen.
Let’s assume there are five players, and instead of each player receiving $1,500 at the start, the $7,500 they share to begin the game is instead allocated according to the distribution of wealth among Americans. In this scenario, the wealthiest player, Player A, would begin with about $6,668, because the top fifth of Americans hold about 89 percent of the nation’s wealth. Based on the proportion of wealth held by the next fifth of Americans, Player B would begin with $705. Meanwhile, Player C, representing the middle fifth of Americans, would begin with $195, while Player D would begin with $15. Finally, Player E, representing the bottom fifth of Americans, would begin the game $90 in debt.
Follow the link to see how the game plays out.
Goldman’s Sacks 0
Goldman gets out the petty cash.
No one’s going to jail. The story does not indicate how much of this will burn into a tax deduction.
“Nobody Likes You When You Are Down and Out” 0
Sing it, Steve Wynn!
The 74-year-old billionaire then tried to break it down for investors.
“Or to put it in a more colloquial way, rich people only like being around rich people, nobody likes being around poor people — especially poor people,” he said.
How Stuff Works, Panama Rats Dept. 0
Thom talks with Dr. Richard Wolff about what the “Panama Papers” say about the antics of the plutocracy.
Tax Havens 0
BadTux has a theory as to why so few Americans were named in the Panama Papers.
Here’s the gist; follow the link for the full discussion:
Image via Job’s Anger.
Bad Medicine, Bad Bad Medicine . . . 0
. . . but good news.
The $160bn (£113bn) deal, announced in November, was thrown into doubt following the move by the US Treasury on Monday to make so-called tax inversion deals, by which corporations relocate their headquarters to countries with a lower tax rate, less financially appealing.
The Rich Are Different from You and Me 1
They have money.
Misdirection Play, Decreased Postage Dept. 0
My bank sent me an email urging me to switch to on-line statements for, I kid you not, “increased security.”
Increased security.
Right.