The Wild Wild World of Wealth
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Date archive for March, 2009

  • My Money or Acrimoney*

    This economic crisis is aging like milk. Auto deadlines, Barney and the bailouts, CDOs and other toxic assets. There are problems everywhere.

    For years I have explored the uncertainty of wealth, both as a financial adviser and as the author of Top Producer, a novel set on Wall Street. Right now, there’s one question troubling me. It keeps surfacing in every corner of this crisis. It won’t go away, even as cavalries from every branch of the government charge to our rescue. I keep wondering the same thing.

    When is my money really my money?

  • This Week’s Must Read

    Woody Allen just published a terrific piece in The New Yorker.  It’s a story about two swindled investors, reincarnated as lobsters, who extract the sweetest revenge on Bernie Madoff. If you haven’t seen the piece, click on the link below: Go to The New Yorker

  • Madoff with the Wife

    When the Financial Scandal Came Home This article could have been titled Madoff with the Spouse or Madoff with the Partner. The title is not meant to be sexist. Just factual. The questions about Ruth Madoff remind me of the 70s. I don’t mean the horrific markets from 1973 to 1974, down 45 percent. I [...]

  • Beating Bernie

    The stories about Bernie Madoff keep coming—his cushy confinement, the conspiracy behind trading confirms, a life sentence. Many articles find common roots in one question. How did he fool so many people? It’s the wrong question. What we really want to know is how to beat the next Bernie, the next Stanford, or the next [...]

  • Credit Card Train Wreck

    That’s why I question whether credit card issuers have a solid business model in this economy. Presumably, they lend money to people who can pay their bills. But people who can pay their bills don’t borrow at 24.5 percent. It’s the Catch-22 of credit cards. At these extreme rates, in these tough times when people are struggling to make ends meet, I suspect we have yet another train wreck in the making.

  • Blog Oscar

    I hereby nominate Clusterstock for a Blog Oscar in the category of scams.  Today’s photo post, “Sir Allen Stanford’s Circle of Friends,” is a classic.  It’s also one of the scariest things I’ve seen in a long time.  Several of our legislators are beginning to look like the Forrest Gump of financial scandals. http://www.businessinsider.com/sir-allen-stanfords-circle-of-friends-2009-2

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