Huge Wall Street fines raise calls for more transparency

first_img 1SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr by. Dunstan PrialThe simple truth is that no one really knows where most of the money goes.As the penalties levied by the U.S. government on big Wall Street banks charged with all manner of fraud tied to the 2008 financial crisis soars toward $100 billion, an obvious question that’s been asked again and again is: “Where does all that money go?”The short answer is that most of it goes to the Treasury Department, where it disappears into the great maw of the federal budget, helping to pay down U.S. debt and offset an array of unspecified government expenditures.It’s the “unspecified” part that bothers people.“When this money is obtained (through settlements), where it goes, what it’s used for, how it’s dealt with is something most members of the public would want to know and should be told,” said former Securities and Exchange Commission Chairman Harvey Pitt. continue reading »last_img read more

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A psychologist reveals ‘the single biggest predictor of human happiness’

first_imgRead the whole story: Business Insider More of our Members in the Media > Business Insider: When psychologist Arthur Aron was a graduate student in the 1960s, he was looking around for something to study for his dissertation. But he didn’t want just any topic. He wanted to find one “that people thought couldn’t be studied scientifically and then prove that it could be,” he said.And then he fell in love — and that was all he could think about.It was hard, at first, for researchers to take Aron’s study of love and romantic relationships seriously. “Early on,” Aron told us, “it was a topic on the margins.” But it quickly became clear that it deserved a closer, more scholarly look.last_img read more

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