A View From The Press Box

There is a phrase in journalism called “burying the lead,” meaning you fail to put the most important part of the news story right up in the first paragraph. When reporters do this, it’s just poor or lazy writing. But when sources are guilty of this sin in their press releases, it’s called “spin”–putting the best face on bad news. That’s the case with the latest industry-wide financial results reported by ISO and PCI. Read the rest of this entry »

While it was an honor to meet Prince Andrew, Duke of York, it was a thrill to shake hands and speak with Capt. Chesley Sullenberger after he received the Lloyd’s Gold Medal for Saving Life last night during the London market’s annual New York City all-star dinner. (”Sully” is to the left, Prince Andrew in the center, and Lord Peter Levene, Lloyd’s chair, to the right.)  Read the rest of this entry »

There is a knee-jerk reaction among proponents of a single-payer system for health insurance who keep mindlessly reciting the mantra, Medicare For All! The problem is that even though Medicare is one of the most popular government programs–a veritable sacred cow politically–the fact is expansion of the plan to cover all Americans would never work. If you doubt me, do the math. Read the rest of this entry »

There is something unseemly about the face-off in U.S. District Court between Maurice “Hank” Greenberg and AIG, the company he led for so many years, over billions in stock supposedly set aside as incentive compensation for employees. In a sense, this is the final battle in an ugly divorce–one I am not certain the indomitable Mr. G can win. Read the rest of this entry »