Aside from the bitter cold, there might soon be a better reason to avoid living in or moving to Wisconsin. The Tax Foundation’s policy blog reports that if new legislation is passed, Wisconsin will have the largest tax burden out of all the states. Continue reading ‘Another Reason Not to Move to Wisconsin’
Monthly Archive for June, 2007
I can’t believe I missed out on Pink Sheets’ announcement of a new disclosure categorization system for issuers quoted on Pink Sheets. Continue reading ‘Pink Sheets Disclosure Categorization’
Bloomberg reports, “Lake Shore Asset Management Ltd., a hedge fund firm run by a former chairman of the Chicago Mercantile Exchange, had its assets frozen by a federal court after regulators said it overstated its holdings.”
I am guessing that stories such as these will continue on for a couple more years until there is another huge financial crisis. Then our lawmakers will go on a crusade to score political points and pass overly restrictive legislation that ends up hurting investors and businesses more than helping protect investors.
But it is difficult to argue with Geoffrey Aronow, the former head of enforcement at the CFTC. “Whether it’s conscious or not, everyone is more attuned to concerns to what’s going on with hedge funds.”
Though he writes about one gold mining stock in particular, OTC Speculator puts forward excellent reasons to load up on gold stocks in general right now. His bullish case for gold is “rather simple”: Continue reading ‘Gold on the Rise Again’
An article about the fashion trends in Milan: apparently, its all about the hedge funds. Continue reading ‘Hedge Fund Fashion’
Thompson is now at the head of the Republican pack according to a new Rasmussen poll.
Thompson, preparing to formally announce his candidacy, leads the pack in the latest Rasmussen Reports national telephone survey with 27% support. That gives him a four-point advantage over former New York City Mayor Rudy Giuliani who is currently preferred by 23% of Likely Primary Voters. Continue reading ‘Thompson Leads Republican Pack’
We’ve got five recent Supreme Court decisions. I for one am happy most of all about the Federal Election Commission v. Wisconsin Right to Life decision (click here for a quick take). Take that John McCain!
But the most disappointing ruling out of the lot is the “Bong Hits For Jesus” case. Apparently kids in high school lack the the same basic rights as the rest of Americans. The WSJ’s Law Blog has a short summary and some highlights in the opinion: “Justice Stevens Wafts Into Marijuana Debate.“
Bloomberg reports that no one has come to help Bear Stearns rescue two of its hedge funds:
It was Bear Stearns, the biggest broker to hedge funds, that nine years ago declined to join 14 other investment banks in the bailout of Long-Term Capital Management LP. Then last week, as New York-based Bear Stearns pleaded for help to rescue two of its hedge funds teetering on the brink of collapse, many of the same firms refused to come to its aid.
Merrill Lynch & Co., which pumped $300 million into LTCM, said no and seized $850 million of bonds held as collateral for loans it had made to the funds. Lehman Brothers Holdings Inc., JPMorgan Chase & Co. and Cantor Fitzgerald LP also pulled out, leaving Bear Stearns to sort through the wreckage of bad bets on subprime mortgage bonds and collateralized debt obligations.
Bear Stearns is using $3.2 billion of its own to salvage the situation. All I can say is that Bear Stearns made a huge mistake when they refused to follow the crowd in bailing out LTCM nine years ago. It came back to bite them in the ass.
Speaking at Cooper Union in New York late this afternoon, presidential hopeful John Edwards said, “There are still Two Americas. … We also need to talk about what we need to do to build One America – and to do that, I believe we have to build One American Economy.”
Sounds like veiled, Communist rhetoric to me.
J.R. Nyquist writes today of how the Syrian army has apparently “been mobilized and is digging defensive positions.“Â He writes in part: Continue reading ‘War Preparation in the Middle East’
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