Entries by Mark Krudys

“Pension Advances” Threaten Retiree Savings

Retirees are being solicited by certain companies to obtain “pension advances,” which regulators say are really disguised loans. The New York Times has determined that pension advances carry (after factoring in fees) interests rates ranging from 27 percent to 106 percent. Jessica Silver-Greenberg, “Loans Borrowed Against Pensions Squeeze Retirees,” New York Times, Apr. 28, 2013, […]

S&P’s Defense: “We Weren’t Really Serious”

In response to a DOJ civil lawsuit that the company committed fraud when it asserted that its ratings were independent and objective, Standard and Poor’s Rating Services has claimed that the assertions were mere “puffery.” Whether or not the argument is legally viable, the Wall Street Journal notes that the position degrades the reputation of […]

Prisoners “Boiling to Death” In Their Cells

A New York Times article on the Texas prison system entitled, “In Texas, Arguing That Heat Can Be A Death Sentence for Prisoners,” exposes a shameful problem that exists in jails and prisons throughout America–prisoners dying from hyperthermia or cooking to death in their cells. The Times reports that last summer, in a 26-day period […]