Short-seller Carson Block’s Muddy Waters LLC says that believing commodity trader Olam International Ltd.’s accounting requires a “leap of faith.” The ambiguity lies with the rules as much as the company.
Maybe there is a different definition of the word “reform” in Washington than in the rest of the country. How else can one account for the latest version of the farm bill, approved last week by the Senate Agriculture Committee?
With the exception of the U.S., every country in the Organization for Economic Cooperation and Development has a value-added tax -- one on business sales that functions much like a retail sales tax. It’s time for the U.S. to join that club.
Three decades ago, U.K. Prime Minister Margaret Thatcher was confronted with a nation bordering on irrelevance, a stagnant economy and a set of entrenched beliefs about the relationship between government and the people.