Labor

Authored by Robert Huebscher via Advisor Perspectives,

Harry Markopolos, the investigator who exposed the Bernie Madoff Ponzi scheme, has uncovered a new fraud. The unfunded status of the pension fund of the Boston Transit Authority (the “MBTA”) is $500 million bigger than previously thought, according to Markopolos. This will have a significant impact on the municipal bond market, especially if it turns out that the MBTA’s problems are endemic among similar pension funds.

Authored by Eugen von Bohm-Bawerk via Bawerk.net,

Authored by Bre Payton via The Federalist,

Former FBI director James Comey's decision to leak FBI documents to a friend may have violated the FBI's employment agreement regarding unauthorized leaks.

Authored by Danielle DiMartino Booth,

Fake news is so old.

How else did, “I am prepared to veto any bill that has as its purpose a federal bailout of New York City to prevent a default,” become, “DROP DEAD” way back in October, 1975? Oh, those hellbent headline writers. Whatever will they think of next? Besides, the Daily News headline worked wonders, if infuriating die hard New Yorkers was the objective.

Authored by Mark Glennon via WirePoints.com,

All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident. -Arthur Schopenhauer.

For Illinois or another state to formally go bankrupt, the United States Congress would have to pass legislation.

Would they? I think so.