After leading the economy to the edge of the abyss, a new derivative has been concocted in a perverse quest for big and bigger bucks.
It's fun writing about Wall Street's greedheads and tax dodgers. But every once in a while, I get to write about something positive -- and unpublicized -- that some Wall Street types have done. Today's reversal of the Street's natural order involves Davis Advisers.
Did you make bubble-era investments that left you so far underwater that you needed a submarine? If so, you've got company. Gather round, and I'll show you how some of the smartest and richest folks in America lost more than half a billion dollars by buying into the commercial real estate bubble ...
This is a quiz. What do the record-high Wall Street bonuses have in common with the record-low yields for savers? Answer: They show yet another way that prudent people, especially those living on fixed incomes, are being cheated by the government's bailout of the imprudent.