Word: dollarses
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Ponzi Schemes--in which a swindler touts outsize returns, parries questions about legitimacy with hefty dividends and creates the illusion of solvency by paying off early investors with capital raised from later entrants--are named after Boston businessman Charles Ponzi. From 1919 to 1920, the Italian immigrant coaxed thousands of...
Ponzi wasn't the scam's first practitioner; that was probably a New York City grifter named William Miller, who fleeced investors out of $1 million--more than $20 million in today's dollars--in 1899. The cons have since grown: a Florida church netted $500 million in a 1990s...
During the same session of the National Assembly, government officials announced with pride that the minimum pension, which is what many retired Cubans receive, had risen to the equivalent of $8.33 per month. True, access to health care is free, but the elderly still have to purchase medicines, which are...
Here's the problem with that math: the tax system brings in about 18% of GDP, less in a recession - and Obama is even floating a two-year, $300 billion tax cut (roughly 1% of GDP per year). Even worse, our federal revenues are nearly exhausted by just four areas...
As 2009 settles in, California isn't quite the Golden State anymore. School districts are expected to lose billions of dollars in financing for improvements and development, and health-care services for the elderly, infirm and poor will most likely deteriorate. State employees are facing payroll cuts, unpaid leaves and...