Tax Shelter Pleas Still Being Entered–Erwin Mayer by Linda Beale Erwin Mayer is one of the attorneys at the former firm of Jenkins & Gilcrhist. The law firm, with accounting firms and financial institutions, helped wealthy clients evade tax “through deceit and trickery” (quoting the U.S. Attorney’s Office for the Southern District of New York […]
China took the world by surprise on Tuesday by raising bank lending and deposit rates for the first time since 2007. The story is, that restrictive monetary policy (i.e., raising rates) is needed to curb excessive lending, with an eye on mitigating inflation pressures. See this Bloomberg article to the point. While restrictive monetary policy […]
Hat tip Atrios for the link to Bloomberg for another link to add to this chain of title in the Bloomberg news Pacific Investment Management Co., BlackRock Inc. and the Federal Reserve Bank of New York are seeking to force Bank of America Corp. to repurchase soured mortgages packaged into $47 billion of bonds by […]
Atlantic Wire has a post based on Matt Taibbi’s book America on sale, Griftopia. There are a number of considerations to be drawn from this deal, but the head spins with possiblities. When visiting my son in Chicago this year he told me of the changes on the practical side…charges from 7 AM to 9 […]
New Tax Man at Huffington Post points us to a growing trend: Nearly a dozen major banks and hedge funds, anticipating quick profits from homeowners who fall behind on property taxes, are quietly plowing hundreds of millions of dollars into businesses that collect the debts, tack on escalating fees and threaten to foreclose on the […]
A Washington Post editorial suggests the meme that deliquencies are the main concern for us to consider instead of ownership issues that are more fundamental and problematic. But the author also suggests the states are at fault for their antiquated registration system… To be sure, the revelations of “robo-signing” and other sloppy or unlawful methods […]
I took a couple of days to let life interfere with blogging, but none of the standard politics/economics bloggers seems to have highlighted this note from the Lex column of last Wednesday’s (13 October 2010) FT (again, no link; feel free to provide in comments) under the heading “Defence M&A”: Lockheed has two small services […]
When the question is asked whether the Obama Administration are fools or liars—and a certain Chicago mayoral candidate is often nominated as both—you can be certain discussion of “the public option” will come up. It doesn’t come up directly in today’s FT (page 4 of the print edition; no link; I get the paper edition, […]
Industrial production is clearly slowing as total output and manufacturing output fell 0.2% in September– the difference between total and manufacturing output is utilities and mining and mining includes oil and gas production. The slowdown was widespread as output of oil dirlling and the information technology sectors both fell. About the only increase was an […]
by Mike Kimel Discouraging Greg Mankiw From Working Would be Good for the Economy, Part 2: Why the Correlation Between Top Marginal Rates and Real Economic Growth is PositiveCross posted at the Presimetrics blog. I had a post the other day noting that the correlation between top marginal rates and real GDP per capita is […]