About the effect of decisions of government officials on capital markets …
On July 9, 2009, the US SEC declared California IOUs to be securities subject to Federal law, as reported in an article in The Bond Buyer. Further regulation is expected from the Municipal Securities Rulemaking Board. If these securities do not extend beyond one year, it would appear that they might be exempt from Federal income tax. We […]
The US SEC is not geared, in any practical sense, to protect investors against fraudsters in the mold of Bernard Madoff. […]
The theater of the absurd where US monetary policy is played out reached the height of the ridiculous when, on July 2, 2009, the Federal Reserve issued a press release advising the public to check with their banks to see the terms and conditions under which a bank may accept for deposit the “registered […]
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