Yanks’ bond scheme is a real steal (Metro NY)

More on the New York Yankees’ latest demands for city-backed bonds

When the rich want to get richer off the public till, one trick is to make the theft so boring that only a trained accountant could understand it without dozing off. If Ken Lay had tried to pump up Enron’s stock by, say, floating rubber checks, he would have been tabloid fodder from Day 1; instead, nobody noticed until it was too late, largely because manipulating “stranded costs” and other nuances of the electricity markets made even regulators’ eyes glaze over… [read more]

Recent Related Posts