Juggling Dynamite

Bill Gross, Co-CIO, founder & managing director at PIMCO, outlines America’s severe spending addiction in his latest investment outlook. Here is a direct link.

Sheila Bair, former chair of the FDIC, offers her own perspective on the civil suit by the New York attorney general against JPMorgan. Here is a direct link.

There is no greater deterrent to fraudulent, reckless behavior than individual prosecution and liability. Where culprits are allowed to hide behind their corporations, fines will always be seen as a cost of doing business.

Both presidential candidates have been pressed for details on how to control Federal spending. Social Security is one entitlement that politicians are afraid to touch. But ignoring the issue of solvency for the government’s largest entitlement program won’t solve the growing problem of ballooning costs, as more workers retire and fewer Americans cover their benefits. In this CNBC animation, reporter Steve Leisman explains the overall problem facing Social Security. Here is a direct link.