I read the following press release a few weeks ago about how a banker who worked at La Jolla Bank, FSB admitted to conspiring with other senior executives at the bank in approving bad loans to unqualified borrowers. Ms. Martinez, along with others, accepted bribes and kickbacks in return for making loans to borrowers, known as … Continue reading LJB, FSB
Someone on Twitter shared the following article from the New York Times regarding wine and fraud. Its title is clever: In Vino Veritas. In Napa, Deceit. It's not hard to see why the fraud began in the first place. When expenses are greater than income, a business will suffer a net loss. If you couple … Continue reading Grapes of Wrath
Having crawled out from under my rock, I learned that Comic Con started yesterday in San Diego. I have never attended this grassroots event turned media circus due to my lack of interest and my hatred for dealing with crowds. However, I happened to catch a quick news story, which you can watch here, about … Continue reading Parking Prices, Assemble!
I have been wanting to write this blog entry for quite some time, but I haven't had the opportunity to give it proper attention until now. A few months ago, I attended two weddings within a few weeks of one another. As I observed both weddings, I began to think about how weddings themselves hold … Continue reading The Value of Weddings
It's not hard to understand why city workers in Escondido, CA are protesting a decision to give raises to top managers who are making quite a substantial amount of money in the first place--above $100,000 to be exact. Even though the city is cash strapped, the top managers are to receive pay hikes while the … Continue reading Bad Decision Making in Escondido
I wanted to comment quickly on this story here about a real estate agent, his wife and several others in the San Diego area who have been accused of engaging in several types of fraud between 2002 and 2007. Prosecutors in San Diego have accused the defendants of falsifying income and information by "coaching them … Continue reading Real Estate Fraud in San Diego
Here are some perspectives on the role of economists as seen through the eyes of different people.