We were flabbergasted as well as flummoxed to learn recently that New York City’s pension funds have paid billions of dollars in fees to Wall Street money managers over the past decade. Is there, perhaps, a better way for public officials to manage your retirement money?
Consider public pensions. The money that firefighters and police and government workers will use in retirement. Two facts: 1) Wall Street is stealing this money, and 2) We are letting them, like fucking suckers.
Though I enjoy a good slice of American Cheez Food Product as much as the next unsophisticated child, I would not be so bold as to declare that product to be "healthy." Prestigious nutritionists bound to differ!
Something—the sneaky finger of Jesus, perhaps—seems to have taken down the web page where His Holiness Pastor Creflo A. Dollar was asking followers to give him $65 million to buy a new private jet.
McDonald's, the molded plastic king of America's molded plastic cuisine, has decided that money will no longer suffice to purchase its meager offerings; the company now demands that you degrade yourself in order to be fed.
Tony Robbins is a fabulously wealthy self-help guru who recently wrote a book containing bad financial advice. Andrew Ross Sorkin is a business reporter for America's most influential newspaper. What happens when you put them together?
A church that gave its money to JPMorgan Chase to manage says that the bank robbed it blind. Here is a useful window into how legalized robbery on Wall Street works.
The growth of Wall Street is detrimental to the health of America. Let's review.
A major investor's group has proposed that hedge funds generate "gains above market benchmarks before charging incentive fees"—in other words, that they be worth the fees that they charge. Outrageous!
"Hedge funds are shutting at a rate not seen since the financial crisis, as many managers post disappointing returns and an elite group of firms dominate money raising," Bloomberg reports. "Hedge funds, on average, have returned just 2 percent in 2014."
Actor and faded tough guy Mickey Rourke, age 62, fought in and won a professional boxing match last Saturday night. His opponent: a "homeless drifter" who clearly took a dive.
Just when you think that for-profit colleges like the University of Phoenix are predatory bloodsuckers that sell worthless degrees at inflated prices to vulnerable people, they go and do something thoughtful, like offering their terrible services to thousands of black students.
If you pay an individual or a big company to invest your money for you, you should be aware of the fact that there is an extremely convincing case that you are foolishly throwing your money into the garbage can.
There are many things wrong with the bloated, expensive American health care system. I would like to complain about one small part of it: the prices. It's not just that the prices are high. It's that... where the hell are the prices?
A mother of six is under investigation by Australian police after she apparently fooled dozens of generous strangers on Facebook, and even her boyfriend, into believing she had cancer and needed expensive medical treatments. The Daily Telegraph broke the story of her unraveling hoax, which reportedly netted her…
It is election day, when we celebrate the uniquely American system of democracy, in which every single dollar gets a vote.
After 13 years of a spectacularly destructive and unnecessary "War on Terror" it is disheartening that this must be said, but it's better to say it now, before its legend grows: fear not the "lone wolf." All you have to fear is the myth of terror itself.
Sure, it's easy to laugh at the greedy, clueless, entitled people who attempt to "crowdfund" various non-charitable self-serving endeavors. But who is really to blame?
Today in the theoretically infinite series, "Why it is expensive to be poor:" renting to own. Don't do it!
"To succeed in this environment you must believe, or at least pretend to believe, that you are an expert in matters where no expertise is possible." Michael Lewis is very good at describing the underlying truths of Wall Street.
