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| | | | | | Less than a week after launching his presidential campaign, Newt Gingrich's candidacy has already been declared "done" and "over" by conservative pundit Charles Krauthammer. Gringich's mouth - always faster than his brain - has been gorging on foot. He's provided Democrats with great ad copy, denouncing the Republican plan to end Medicare as "radical" and "right wing social engineering." He managed an astounding 360 overnight, from having "consistently favored" an individual mandate on health care to calling it unconstitutional the next day. He's received well deserved scorn for dog whistle race bait politics in http://www.washingtonpost.com/politics/gingrich-promises-to-slash-taxes-calls-obama-food-stamp-president/2011/05/13/AF9Q602G_story.htmldeclaring Obama the "food stamp president." And of course, in the run-up to his announcement, he retired the trophy for the most creative excuse for cheating on your wife, declaring that it was his passion for his country that led him astray. Despite Gingrich's gift for self-immolation, even with his own candidacy already sapped by the licentiousness of his mouth and his libido, he shouldn't be dismissed. He has provided the clearest statement of how Republicans will run against Obama and Democrats in the next election - in the Reagan tradition, combining city on the hill economic homilies with back alley racial allusions. Consider Gingrich's calling card:
Read More... More on Elections 2012  
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| | | | | | Nothing surprises me much more than when I read that trading on insider information is a victimless crime. In the wake of the conviction of hedge fund giant Raj Rajaratnam, the claim has come up time and again. In fact, it is entirely untrue. The victims are all those who sold Raj a stock or other security at a lower price than they might have if they had the same information he had. In other words, the victims are pensioners, mutual fund investors, bank trusts holders, and on. It's like what happened in the 1800s when some insiders knew the railroad had planned to build a track through a certain territory. They bought land from unsuspecting farmers, ranchers and maybe even the federal government on the cheap. That activity disgusts us. Same with stocks when the fund managers know about good earnings news to be reported the next day or a merger announcement to come. What the details of the Rajaratnam scandal also shows is that he who pays the most money for inside information also makes the most money. Money begets money, the big get bigger. That's a pretty good example of what's happened over the past thirty years in American finance. Read More... More on Raj Rajaratnam  
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