Forty years of hurt
AMERICA has increased homeland security spending by more than $1 trillion in the decade since the 9/11 attacks. A new academic paper [ PDF] from John Mueller (of Ohio State University) and Mark Stewart (of the University of Newcastle in Australia) attempts to determine whether the return on investment justified those huge expenditures. They also ask whether policymakers ever considered anything remotely resembling a cost-benefit analysis before they spent all that money. The answer in both cases, it seems, is no:
FIVE years ago, Steven L. Glazer, an internal medicine doctor in Norwalk, Conn., told his thousand patients that he would no longer be able to care for them because he was going to focus on only a dozen, wealthy patients who could pay his annual fee.
A New York Times columnist weighs in with a provocative thesis about Wall Street firms and personal accountability. He suggests "reputation is dead on Wall Street." With that passing, the traditional source of personal accountability has also passed.
Oil and gas companies injected hundreds of millions of gallons of hazardous or carcinogenic chemicals into wells in more than 13 states from 2005 to 2009, according to an investigation by Congressional Democrats.
Prank knocks $3.5 billion off GE’s market cap
As far as hoaxes go, it was hilarious. Unless you got caught on the wrong side of the trade.
Why is the Federal Reserve forking over $220 million in bailout money to the wives of two Morgan Stanley bigwigs?