60 Minutes, Prosopagnosia, and The Gods of Greenwich

Last night, 60 Minutes did a story on prosopagnosia–otherwise known as face blindness. People with this condition, to varying degrees, cannot distinguish different faces. Sometimes, they can't even recognize family members. Or villains. I learned about...

Return of the Flash Crash

Did you see the 60 Minutes exposé on speed trading? I've embedded the video, which explains how high-frequency trading works. It sheds light on the May 6 flash crash—why the Dow dropped nearly 700 points in twenty minutes. It's only a matter of...

Return of the Flash Crash

Did you see the 60 Minutes expos on speed trading? I've embedded the video, which explains how high-frequency trading works. It sheds light on the May 6 flash crash—why the Dow dropped nearly 700 points in twenty minutes.   It's only a matter of...

Financial Fraud 101

Scams: Pigeon Fever Sixty Minutes ran a terrific story last night on financial scams. Conclusions: Ponzi schemes are alive and thriving Gullability is here to stay. “Affiliation marketing” is the way con artists find you—at church, the country club, you...

Would You Spend 40 Months in Prison for $550 Million?

U.S. Is Said to Consider Easing Informant’s Term Bradley C. Birkendfeld is scheduled to start a 40-month prison sentence on Friday, January 6. He’s the banker who exposed UBS’ illegal activities and is now claiming a 30 percent whistleblower’s...