Read a little. Learn a lot. • Tightly-written news, views and stuff • Follow us on TwitterBe a Facebook FanTumble us!

11 Oct 2011 10:44


Biz: Ex-Hedge fund trader Raj Rajaratnam could get huge prison sentence

The U.S. government wants Rajaratnam, center, to receive between 19 and 1/2 years and 24 and 1/2 years for his insider-trading crimes, considered to be the worst since the 1980s. Is that enough? source

10 Mar 2010 22:10


Biz: Forbes’ billionaires list isn’t just made of Carlos Slim and Bill Gates

  • Carlos Slim is on top this year. But look deeper. Forbes’ billionaires list, a cultural touchstone, usually only focuses on the top of the list, mainly because it makes a good headline. But Forbes has a TON of information about the billionaires on their list. Here are some of our favorite details from doing a little research:

A good year for rebounds

  • 1,011 billionaires are on this year’s list, which is way up from last year
  • 164 billionaires returned to the list after losing much of their value in 2008
  • 89 billionaires came from China, the largest non-U.S. total source

Extremes in rich bastards

  • youngest Mark Zuckerberg, who, at 25, has more money than you’ll ever dream of, with assets worth $4 billion. Just think how much he’d be worth if Facebook took the IPO plunge. Or actually, just sulk. source
  • oldest Fellow technology maven Walter Haefner is the real-life Mr. Burns at age 99. Except, instead of a nuclear plant, he owns 24 percent of information technology firm Computer Associates. source

Schadenfreude-worthy subject

  • Raj Rajaratnam is in big trouble. One of the guys who lost his billionaire club card, Rajaratnam’s hedge fund, Galleon Group, was caught in a major insider-trading scandal, which caused the fund to lose value quickly this past October, and as a result Rajaratnam is no longer a billionaire (and is probably going to prison!). source

21 Feb 2009 19:29


Biz, U.S.: Obama wants cake, then to eat it (too), then go on a diet

  • Cutting the deficit Obama, who just signed a massive stimulus bill into law, then went to Canada to, uh, celebrate, spoke in his weekly radio address about the need to cut the deficit by the time his four-year term ends. With the extra spending, he’ll have his work cut out for him. But hey, that’s why we elected him to office, right – that whole change thing?
  • Already on the table He didn’t exactly come to office with a clean slate deficit-wise. He came in with a deficit of $1.2 trillion left by that Bush guy, which should probably rise to $1.5 trillion by the time all his stimulus stuff hits. In other words, imagine one of Scrooge McDuck’s giant money bins. Then imagine it empty. Then imagine jumping into it.
  • How he plans to do itAmong other things, he’s suggested taxing the he investment income of hedge fund and private equity partners at higher rates. Currently, they’re taxed at the capital gains rate, which is 15 percent at most. He wants to tax them at ordinary income tax rates of as high as 39 percent. Which probably won’t make Rick Santelli happy. source