Pension Ponzi

How Public Sector Unions are Bankrupting Canada's Health Care, Education and Your Retirement

Pension Ponzi

The vast majority of Canadians are blissfully unaware that everyman, woman and child in Canada now owes a $35,000 share ofgovernment debt and must pay this back, with interest! Makeno mistake, this debt will change our country and affect everysingle Canadian in the decades to come. You may think you haveplanned for your retirement and are safe, but the government mustfind a way to recover this borrowed money, and they can only dothat by raising your taxes and reducing your hard-earned benefits.How did this debt come about, and why can't we simply pay it off? Pension Ponzi lays the blame squarely at the feet of thepoliticians who refused to stand up to Canada's public sectorunions. The fact is Canada's public sector, which accounts for 20%of the workforce, has been grossly overpaid relative to theircounterparts in the private sector with cushy pensions paid forwith your taxes and new debt. There is no denying that thecountry does not have the financial resources to ensure that thenext generation of Canadians will have the same standard of livingas the ones before it-or to support our growing seniors population.Meeting our public sector pension obligations will break thecurrent social safety net that is a pillar of the Canadian way. Can you escape this bleak future? Can you afford to live longer?Nationally-recognized pension expert Bill Tufts and award-winningjournalist Lee Fairbanks explore how this catastrophe came aboutand then suggest ways that government can fix what's broken, andhow you as an individual can protect yourself from the financialcalamity that is about to engulf Canada.

Planet Ponzi

Planet Ponzi

As the global economy struggles to avoid meltdown, so the greatest Ponzi scheme in history approaches its final death rattle. Politicians have stood by and watched the financial industry create a massive overhang of debt, a mountain of low quality assets – and ultimately, an economic disaster which has dwarfed all others. The Eurozone crisis and the LIBOR manipulaton scandal are just two symptoms of a much broader problem: one of vastly excessive debt, regulatory failure, a culture of deceit on Wall Street and the City of London, and governments that have promised their citizens far more than they can deliver. In Planet Ponzi, Mitch Feierstein tells you what’s happened, what will happen next and how to protect yourself and your family.

Understanding Pensions

Understanding Pensions

With birth rates falling at the same time that average age is rising in the developed world, the pensions time bomb is ticking louder than ever. Understanding how pensions work, their history, and their future is absolutely essential. This book thoroughly explains to readers the unique concepts and terminology which underpin pensions. Focusing firstly on the rationale for pensions and their evolution, before moving on to an explanation of the latest controversies regarding pensions. The glossary of pensions terminology in the final section of the book virtually ensures its place on many academic bookshelves. This timely volume is an extremely useful contribution to this important issue. Of use to policy-makers as much as to students and academics of finance and public policy, Understanding Pensions should prove to be a popular addition to the literature.

How to Kill an Elephant

Eighteen Months to Save the Planet

How to Kill an Elephant

Global warming will either grab your interest or see you running in the opposite direction. But there is another way. It is a truth that is never realized, a truth that cannot surface once buried in the media and in politicians’ singlespeak, and a truth that is tantalizingly beyond your reach. How to Kill an Elephant exposes this truth for all to see, yet this is not a book about global warming; it is a book about human nature exposed for all its inadequacies. It starts with elephants, inexorably being driven to extinction by elephants of our own creation. Where does it finish? That’s for you to decide. Fancy a cane toad sandwich washed down with a cup of tea? Have you ever seen stalactites playing chess? You can expect a deadly serious read with a soupçon of levity and straightforward humour, because life really is too short not to indulge a little.

Fleeced!

How we've been betrayed by the politicians, bureaucrats and bankers - and how much they've cost us

Fleeced!

Over the past decade some £3 trillion - equivalent to £50,000 for every person in Britain - has been taken from us by the ruling elites. Half was wasted in a splurge of poorly-managed public spending in the 'boom', while the other half evaporated in the 'bust' - siphoned off by city bonuses, vaporised by a collapse in pension savings and extorted to bail out the banking sector. In their explosive new book, David Craig and Matthew Elliott trace where the money has gone and who has become richer as a result. They name and shame the 'guilty': the incompetent bureaucrats that fail to deliver the services the taxpayer deserves; the multitude of ineffective regulators and watchdogs; the politicians that have betrayed our democracy and enriched themselves; and the self-serving and arrogant city bankers. Moreover, they calculate the enormous debt that awaits the British taxpayer as a result of our rulers' avarice and economic mismanagement. Fleeced! charts the greatest impoverishment and tax swindle of the public in British history.

The End of Finance

Capital Market Inflation, Financial Derivatives and Pension Fund Capitalism

The End of Finance

This volume develops an original critique of the belief that the present era of finance, where finance markets dominate contemporary capitalist economies, represents the best possible way of organising economic affairs. In fact, it is argued, the ensuing economic instability and inefficiency create the preconditions for the end of the dominance of finance. The End of Finance develops a theory of capital market inflation rooted in the work of Veblen, Kalecki, Keynes and Minsky, demonstrating how it disinclines productive activity on the part of firms, provides only short-term conditions that are propitious for privatisation and distorts monetary policy in the long-term. The author examines the role of pension fund schemes and financial derivatives in transmitting capital market inflation and provides a nuanced analysis of the contradictory role they play in the financial system. Capital market inflation is also examined in its historical context and compared with past inflations, in particular the South Sea and Mississippi Bubbles, which spawned the first financial derivatives, and the first privatisations. This broad historical vision allows us to see these forms of inflation as temporary and provisional in character.

Leverage

How Cheap Money Will Destroy the World

Leverage

How the wealthy and powerful abuse finance to skim immense profits Debasement of the dollar as a result of ill-use of leverage is destroying the global economy, and in Leverage, well known market commentator Karl Denninger follows the path of money throughout history to prove that currencies are debased when moneyed and powerful interests pull the levers of government and policy to enrich themselves at the expense of the masses. The result is ugly: the value of everything—including gold—falls, and even personal safety is at risk in a world where there is limited money even for essentials like food and fuel. History is littered with the collapse of monetary and economic systems from Rome to Germany to Zimbabwe. Presents an inside look at how moneyed and powerful interests debase the dollar through the willful and intentional failure to honestly represent short and long-term mathematical truths that underlie all economic systems Shows how, if imbalances are not corrected, financial crises will reoccur again and again Authored by Karl Denninger, who has been running the popular website The Market Ticker since 2007

The Ponzi Book: A Legal Resource for Unraveling Ponzi Schemes

The Ponzi Book: A Legal Resource for Unraveling Ponzi Schemes

Covering virtually all legal issues relating to unwinding Ponzi schemes, The Ponzi Book is relevant and timely, given the increased exposure of Ponzi schemes and the substantial litigation that has ensued in the quest to find assets and to make investors whole. Designed to be a comprehensive guide to the complex issues that arise in Ponzi schemes, The Ponzi Book includes a thorough legal analysis to support competing claims and defenses of affected parties, and contains a sophisticated discussion of the administrative practicalities that arise in Ponzi cases. Both practitioners in the field and parties affected by a Ponzi scheme can benefit from the comprehensive coverage of issues in The Ponzi Book. Several chapters are dedicated to increasingly common fraudulent transfer claims (clawbacks) and preference claims arising in Ponzi schemes, along with the defenses that investors, brokers and others can assert to those claims. The book also includes a detailed discussion of a broad array of litigation claims that can be pursued against any type of defendant with culpability or liability due to its involvement in a Ponzi scheme. Separate chapters are dedicated to each of the complicated legal issues of deepening insolvency, standing, and in pari delicto as they arise in Ponzi litigation. Since Ponzi schemes usually involve related criminal proceedings, the book also covers Fifth Amendment and other privilege issues as well as a detailed analysis of what happens to competing claims for assets in parallel insolvency and criminal proceedings. For those seeking to recover assets, several chapters discuss prejudgment remedies available to freeze assets, contempt proceedings, and service issues both internationally and domestically. The ultimate end game for claimants and those administering the unwinding of a Ponzi proceeding is the claims and allowance and distribution process, and this book offers a sophisticated review of differing approaches and methodologies available in the claims review process. Finally, the highlights of recent changes in the tax laws relative to tax relief for Ponzi victims are covered to raise awareness of these issues for victims and their tax advisors.

Economics of Public Policy

Economics of Public Policy

Goodman's name appears first on the earlier editions. Includes bibliographies.

Investigation of Failure of the SEC to Uncover Bernard Madoff's Ponzi Scheme [electronic Resource]

Public Version

Investigation of Failure of the SEC to Uncover Bernard Madoff's Ponzi Scheme [electronic Resource]

Contents: (1) Results of the Invest.; (2) SEC Review of 2000 and 2001 Markopolos Complaints: (3) SEC 2004 OCIE Cause Exam. of Madoff; (4) SEC 2005 NERO Exam. of Madoff; (5) SEC 2006 Invest. of Markopolos Complaint; (6) Effect of Madoff¿s Stature and Reputation on SEC Exam.; (7) Allegations of Conflict of Interest from the Relationship between Eric Swanson and Shana Madoff; (8) Private Entities¿ Due Diligence Efforts Revealed Suspicious Activity about Madoff¿s Operations; (9) Potential Investors Relied upon the Fact That the SEC had Examined and Investigated Madoff in Making Decisions to Invest with Him; (10) Additional Complaints Received by the SEC re: Madoff; (11) Additional Exam. and Inspect. of Madoff¿s Firms by the SEC.