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Wait, you mean I gotta live in my district? No way!

December 20, 2013
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Wait, you mean I gotta live in my district? No way!

So this is sort of fascinating. This week The Dagger, the sharp-edged Harford County website, noticed that the state senate campaign of a former state senator named Art Helton had been stopped in its tracks. The reason: Helton does not live in the district. This is actually amazing news, because in Maryland it has...
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Fraud about Fraud: Obama administration wildly overstated its mortgage fraud convictions

August 16, 2013
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Fraud about Fraud: Obama administration wildly overstated its mortgage fraud convictions

So here is a story of a fraud about a fraud about a fraud: Even the feds lied about how much enforcement they were doing. As the Columbia Journalism Review notes, Bloomberg News actually uncovered last week that the Obama administration had overstated its mortgage fraud convictions. I’m just getting to it now in...
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Posted in Crash Course, The News Hole | 1 Comment »

Fake Seal seeks to raise “billion a year” for vets

May 21, 2013
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Fake Seal seeks to raise “billion a year” for vets

A reporter typically gets a half dozen charity solicitations each day in the email, and most go to the trash. This one a couple weeks back caught my eye because of one phrase: “WWII Navy Seal.” Hi Edward, Earl Littman, fmr Navy Seal (Team 1 !) has a new mission. He has a plan to...
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State Auditors find thousands of Homestead Tax cheats

March 6, 2013
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Legislative auditors who tested the state’s 1.3 million homestead property tax credits found that between 8,400 and 109,000 recipients are not eligible. (The wide range is due to the fact that the auditors examined only 114 properties). Following on reports in the Baltimore Sun more than a year ago, the auditors report (PDF link)...
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The End

May 3, 2011
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At the start of this blog, I predicted that the financial crash would cause the government to spend huge money bailing out the people who caused it, adding a great deal to the national debt and sparking a crisis of confidence in the country’s ability to repay it, which would lead to a policy...
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Operation Broken Trust?

December 6, 2010
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U.S. Attorney General Eric Holder announced a giant sweep of scammers today during a noon press conference at the Department of Justice. More than 500 people have been charged in various Ponzi schemes, mortgage frauds, securities frauds, and the like during the past three and a half months as “Operation Broken Trust” fanned out...
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French Trader Gets Jail, Bank Fined Peanuts

October 5, 2010
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French Trader Gets Jail, Bank Fined Peanuts

compulsive gambling, whether considered a disease or a moral failing, just might be at the root of our trouble
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Posted in Crash Course | 599 Comments »

Goldman Fraud Is Not Goldman’s Alone

April 19, 2010
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Something that occurred to me as I learned of the Securities and Exchange Commission’s civil fraud suit against Goldman Sachs Friday (this New York Times piece has a link to the complaint): Who was buying mortgage-backed paper in mid 2007 and what were they thinking? Anybody whose skull wasn’t filled with oatmeal knew by...
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Posted in Crash Course | 12 Comments »

Sympathy for the Goldman?

March 6, 2010
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New York Times Opinionator blogger William D. Cohan steps in it today with this long plea for a presidential pardon for ex Goldman Sachs arbitrageur Robert Freeman, who two decades ago pleaded guilty to mail fraud, served four months in Club Fed, and paid his million dollar fine with a personal check. It was...
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Skilling to Supremes: Define “Honest Services”

March 1, 2010
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There are many nuances to former Enron CEO Jeff Skilling’s argument, now before the Supreme Court, that he should be released from the minimum-security federal prison that houses him. There is the question of venue—should he have been tried in Houston, where the bulk of the 5,000 people who lost their jobs (and $2...
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Posted in Crash Course | 366 Comments »

30 Years Later, the Times Discovers “The New Poor”

February 22, 2010
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“Millions of Unemployed Face Years Without Jobs,” the New York Times noticed on Saturday in a story about people it dubbed “the new poor.” The story is a good reminder to the ruling class. One should never forget that millions of rich douchebags pretend to have no idea how the majority of us live....
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Posted in Crash Course | 357 Comments »

The Maryland Millionaire Count, Tax Scams, and Train Wrecks

November 25, 2009
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The Maryland Millionaire Count, Tax Scams, and Train Wrecks

Your tax dollars at shirk | Image by Win McNamee/Getty Images via Photo Journal The Sun has some predictable drivel today regarding the state’s all-important “millionaire” head-count. Seems it’s gone down. By 30 percent! And this is a terrible thing! And it’s all because of taxes and Democrats! Goddamn Democrats. As the Sun reports,...
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