Last week, I went to a security analysts’ luncheon featuring John Bogle, the retired founder of the mutual fund company Vanguard Group. Bogle didn’t have nice things to say about…
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Donald Trump wants everyone to know that he’s a billionaire. He’s suing an author who dared claim that Trump was worth as little as $150 million. That won’t get anyone…
In the summer of 1998, Harper’s Magazine published one of its most talked-about stories, Vince Passaro’s narrative of how his family accumulated $63,000 in credit card debt. He and his…
Financial theory starts with two key assumptions: first, that markets are efficient; second, that investors are rational. And, of course, in the real world, we all know that markets aren’t…
It”™s tough being a grandiose financial criminal these days. Lots of people ran scams that took millions from clients; Allan Stanford even collected a title while allegedly fleecing investors with…
This month, Thomas Geoghegan has an article in Harpers about how debt changed working-class America. Barack Obama sat down with bailed-out banks to discuss their credit card practices. I paid…
On Tax Day, I went to the Chicago Loop post office — the one with the Calder where mortified if they knew what teabagging was. The postal service receives very…
Different countries are…well, different. They have different laws and languages, funny stamps, and candy that you can’t get at home. We usually think that part of being a distinct country…
Wednesday was our last night in Iceland and the second-to-the last night of the Reykjavik Blues Festival. It was a great show to end on, too. Willie “Big Eyes” Smith…
The Reykjavik Blues Festival was started in 2003 by Halldor Bragason, a blues guitarist from Iceland who studied music in the United States. Halldor has performed with many of the…
I’m a Chicagoan on a working vacation in Iceland, writing about the financial crisis for a hedge fund trade magazine and taking in geysers. When I realized that my…
