I built my career doing consumer reporting, exposing bad businesses for pulling scams on people. I called for more government regulation. This kind of thing won me 19 Emmy awards.

Now I realize that I had it wrong. The free market deters and punishes scams better than regulation does. Also, government rips-off more people than business ever does.

Another point: some consumers are just stupid... continue reading »

Stock market investors tend to put their money into managed mutual funds. That seems smart given that the fund managers are full time stock pickers.  It's why investors have put $4.5 trillion in managed funds, compared to just $508 billion in index funds. But surprise! Most of those so-called expert stock-pickers are wrong much of the time... continue reading »

Next time your credit card company raises interest rates, or imposes an annual fee, or cuts back on your rewards program, or suddenly charges you for your “free” debit card and checking account ... blame Rep. Barney Frank and Sen. Chris Dodd. They were the key sponsors of laws passed this year that promised to “protect” you from unfair penalties, fees and interest rate hikes. That's Promise #5 in my new special “Politicians’ Top 10 Promises Gone Wrong”... continue reading »

We in the media love to scare you, because if you're scared ... we know you'll watch our programs. On my Fox Business show tonight (9pm ET), I'll cover some of these bogus scare stories, including one that made the news last month: Canada announced that it will ban the chemical "bisphenol A" -- known as BPA -- which is used to make plastic bottles. The problem is ... BPA isn't toxic... continue reading »

Last week, Canada announced it will ban the chemical “BPA” – a chemical used to make plastic bottles and canned goods. Environmental activists, like the head of the Canadian “Evironmental Defence”, were thrilled:

Kudos to the federal government… We look forward to seeing BPA legally designated as 'toxic' as soon as possible." ... continue reading »

Since my previous post, readers alerted me that Pasadena, California isn’t the only U.S... continue reading »

Personal injury lawyers say they’re protecting the little guy, but they keep up to 40% of what they win. Every product you buy has a built in cost to cover what lawyers take.   On tonight’s show (FBN @ 9pm & midnight ET), I’ll feature videos from The US Chamber Institute for Legal Reform, an affiliate of the Chamber of Commerce, which tell the stories of small businesses harassed and sometimes run out of business by dubious lawsuits... continue reading »

Okay, I admit I haven’t counted the exact number of stupid New York Times stories that I’ve blogged about, but it’s roughly nine. This time they ran a big story about Wal- Mart Inc.’s Sam’s Club

“ introducing a program in which it facilitates loans for shoppers of up to $25,000, backed by the Small Business Administration…”... continue reading »

One year ago, our “leaders” made grand promises for the Cash-for-Clunkers program. Senator Harry Reid claimed 

“this program will stimulate other sectors of the auto supply chain like mechanics and auto parts manufacturers without adding to the deficit. By increasing sales we are bringing more revenue to the state and creating jobs for those who build and sell them... continue reading »

Ayn Rand was right. The Feds are after our entrepreneurs. Again. A young Australian named Daniel Tzvetkoff co- founded the online payment processor Intabil in 2007. By 2009 he was in trouble with the law. Jacob Sullum says

“is crime, according to the U.S. government, was doing precisely what Intabil purposed to do: facilitate online payments, including bets by American poker players...”... continue reading »