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Sunday, May 1, 2016

Puerto Rican Bonds And The Small Investor

The TV ads flash the noble faces of American retirees and urge Washington to help protect their savings. The back story is kept rather vague. It’s that many older people invested in Puerto Rican bonds. The U.S. territory’s economy is in deep crisis, and it has begun defaulting on this debt.

The question here: What prompted ordinary investors to put their savings into Puerto Rican bonds? But first let’s look at who is running the ads.

No, the retirees haven’t pooled their Social Security checks to make their case. These ads are being run by hedge funds and other big Wall Street players who made their own bad bets on Puerto Rico’s debt.…

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Neal Gabler And How Not To Make It

Call me unpatriotic, but whenever I hear people prating about the “American Dream” it sets my teeth on edge. The thing about dreams, see, is that they’re imaginary. A figment of your imagination.

So you have a dream. Good for you.

I had a dream too. When I was twelve. I was going to be major league pitcher. Over the ensuing years, however, it became gradually apparent that the fastball that wowed them in Little League might not carry me to World Series stardom.

To me, that’s one of the big lessons of sports: realism. How good you are, how good you’re not.…

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NC Democrats In Congress: HB2 Treats LGBT People As ‘Second-Class Citizens’

WASHINGTON — North Carolina’s HB2 treats gay, lesbian, bisexual and transgender people as “second-class citizens” and has raised scrutiny in Washington, D.C., about federal funding provided in several areas, including education, transportation and health programs, according to the state’s congressional Democrats in a new letter sent Thursday to Republican Gov. Pat McCrory. U.S. Reps. Alma Adams,……

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