Yes his name is still causing headlines. Ponzi schemer extraordinaire Bernie Madoff, the 77-year old who attended Far Rockaway High School in NY a few years after both my parents, pled guilty to fraud back in 2009 and is now serving a 150 year sentence....
In a significant setback, but not really a surprise, for the cannabis industry, the Denver Post reports that newly formed Fourth Corner Credit Union in Colorado cannot force the Federal Reserve Bank to give it approval to operate under federal law. The Fed initially denied Fourth...
Now that trading is done (for most thankfully) for 2015, here's the scorecard. The S&P 500 was down about 1%. The Dow Jones Industrial Average was down 2.23%, the first time we had a down year since, gulp, 2008. The Nasdaq tech-heavy index was up...
What a year this was! As my law firm gets ready to host hundreds of people for its annual New Year's Eve event (we have a perfect view of the ball drop in our Times Square office), I'm thinking about how much has happened in...
An important hearing is taking place in Denver this week in a federal court. There the Fourth Corner Credit Union, established by Colorado to accept cash from cannabis businesses, has sued the US Federal Reserve. Why? Because the Fed said they can't take cannabis cash...
The New York Times reported the other day that, despite an endorsement from President Obama a few years ago, the attempts to better manage the costs of law school by offering two-year programs have not been faring well. Northwestern, one of the top US law schools,...
The OTCQX, owned by OTC Markets, Inc., announced last week that they are increasing their listing and governance requirements effective January 1. The QX is the highest tier of trading among the OTC options. There will now be a higher initial bid price of $0.25 to...
A new omnibus spending bill announced by US lawmakers contains an interesting provision: "None of the funds made available by any division of this act shall be used by the Securities and Exchange Commission to finalize, issue or implement any rule, regulation or order regarding the disclosure...
The Jumpstart Our Business Startups (JOBS) Act of 2012 preempted state blue sky registration and qualification for what ultimately became Tier II Regulation A offerings under new SEC rules. So they cannot give comments on, hold up or prevent a company from offering Reg A+...
"The Big Short" is the story of a group of Wall Street folks who foresaw what indeed ultimately happened - the near meltdown of our financial system and even our economy back in 2008. This was, most agree, primarily the result of aggressive lending by...