Tagged: wall street

The Big Lie

My late father, who left us before the phrase “credit default swap” ever passed the lips of a lower Manhattan swindler, believed that United States Treasury Bonds, or T-Bills, were the safest investment on the planet. “When the Federal Government can’t cover their own bonds, don’t worry about your lost interest. Start stockpiling,” he counseled,...

Suckers!

Casinos have a term for their customers. It’s not nice, so the term isn’t used in polite company. But the folks who give away their money at slot machines and dice tables and roulette wheels, the folks who tote around their Player’s Card and receive complimentary buffets and tickets to the magic show, are affectionately...

Stock Pickers Versus Sports Bettors

Recently a man in North Dakota was found guilty of placing sports bets over the Internet, in violation of state (and possibly federal) law. He was fined a nominal amount of money and made an example to the hundreds of thousands – millions? – of people who use their computers to make wagers on football...