State Spends $42.8 Million on Disability Payments, Recipients’ Afflictions Unknown

The state of Michigan apparently does not keep track of the afflictions of state workers collecting disability payments provided by taxpayers.

According to the departments that should be overseeing the program, the state spent $42.8 million in 2011 on disability payments without knowing whether employees are disabled. If true, the state may be breaking the law.

A decade ago, Michigan spent $35.5 million on disability payments. The state has 47,818 […]

JPMorgan CIO Risk Chief Said to Have Trading-Loss History

Irvin Goldman, who oversaw risks in the JPMorgan Chase & Co. (JPM) unit that suffered more than $2 billion in trading losses, was fired by another Wall Street firm in 2007 for money-losing bets that prompted a regulatory sanction at the firm, Cantor Fitzgerald LP, three people with direct knowledge of the matter said.

JPMorgan appointed Goldman in February as the top risk official in its chief investment office while the […]

Regulation for Dummies: The White House says its rule-making isn’t costly or unusual. The evidence shows otherwise – WSJ

The White House is on the political offensive, and one of its chief claims is that it isn’t the overregulator of business and Republican lore. This line has been picked up by impressionable columnists, so it’s a good time to consider the evidence in some detail.

Jan Eberly, an Assistant Treasury Secretary, kicked off the Administration campaign with a white paper in October that purported to debunk the “misconceptions” […]

Peter Schiff Testifies Before Congress: Gov’t Stimulus Will Never Grow Jobs

Peter Schiff Euro Pacific Capital September 14, 2011

On Tuesday, September 13, Peter Schiff, the CEO of Euro Pacific Capital, will testify before the House of Representatives Subcommittee on Regulatory Affairs, Stimulus Oversight and Government Spending. The hearing entitled, “Take Two: The President’s Proposal to Stimulate the Economy and Create Jobs” will examine federal job creation efforts. Mr. Schiff, author of many best-selling books including “How an Economy Grows […]

Goldman Sachs VP Helped Blow Up Economy, Changed Name, Then Went to Work for A Republican.

By BooMan | Sourced from Booman Tribune

No matter how bad you think the Republicans are, they can always surprise you by being even worse. Rep. Darrell Issa (R-CA) is the chairman of the House Oversight and Government Reform Committee, which has jurisdiction over regulatory affairs, including of the financial services sector of the economy. He has actually hired a former Goldman Sachs vice-president to work on his staff. That, […]

Disaster alerts could be sent to mobile, gaming devices:

SAN FRANCISCO — Natural disasters, including the recent rash of tornadoes that cut a destructive path across the U.S., have spurred savvy technologists to develop ways to alert people via popular mobile devices and gaming consoles.

That’s in part because the U.S. government hasn’t yet carried out the Warning Alert and Response Network Act that would make alerting the nation’s mobile phone customers a reality.

“Right now, the government is […]