The Weiss File
Pull Over, Buddy
Larry Wilcox, star of the '70s-era California highway patrol show CHiPS, suddenly finds himself on the wrong end of the law, pleading guilty to charges in a pension-bribery scheme. There's a lot of that going around. Continue
On the Stock Front
New York Harbor, immortalized in On the Waterfront, has long been a spawning ground for crime. The latest twist: a massive pump-and-dump stock scheme that left investors underwater. Continue
Repeat Offender
Bobby Vassallo was nailed for fraud back in 2005. Now the SEC says he is violating an injunction against him. It wouldn't be the first time something like that happened. Continue
An Awful Exchange Rate
The story of currency schemer George Gustav Bujkovsky is just a footnote in the history of securities fraud. But it's one that every investor ought to read if they want to know how to protect themselves against Ponzi schemes. Continue
Wall Street Cinema Verité
Oliver Stone's Wall Street: Money Never Sleeps nails the financial crisis. But the first version of the story was off track. The director explains to Gary Weiss how he reassigned the role of main villain from the hedge funds to the banks, where it belongs. Continue
Hedge Fund Hazard
The glamorous and minimally regulated hedge fund industry generally doesn't beat the market. Yet these funds charge high management fees and are loaded with risk—especially for retirees and small investors. Most people are better off with index funds. Continue
No Need to Apologize
The moral of the Great Unraveling of 2008 is that people like ex-Lehman CEO Richard Fuld haven’t learned any lessons. They haven’t changed. They are as arrogant and clueless today as they were when they were pulling this economy into ruination. Continue
Boehner Should Follow Geithner Out the Door
Gary Weiss discovers to his horror that he and House Minority Leader John Boehner actually agree on an issue—Treasury Secretary Tim Geithner and White House National Economic Council Director Larry Summers should be fired. But Boehner should follow them out the door. Continue
No Accounting for Fraud
The Third Circuit Court of Appeals in Philadelphia essentially has ruled that auditors can't be held liable if their clients cook the books. What, then, is the point of having an auditor? Thankfully, other courts see the matter differently—for now. Continue
Lowering the Bar
Regulators are letting investment banks, from Goldman to Citi and Morgan Stanley, off the hook with with low fines. Continue
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