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Economics editor Chris Farrell

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by Chris Farrell and Tess Vigeland
Marketplace Money for March 21-22, 2009

About the author

Christopher Farrell is economics editor of Marketplace Money, a nationally syndicated one-hour weekly personal finance show produced by American Public Media.
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atman nwiwat's picture
atman nwiwat - Mar 25, 2009

All Americans are victims of Maddoff and his friends that are part of the Florida Club where Mr. Shappiro and the elders helped Maddof make his name.
Right now Maddoff and co. on Wall St robbed us all: My retirement funds lost 70% why doesn't the IRS allow me to subtract that from my taxes?

Question for Chris F. : Why does everyone think that there's away to make Credit flow by printing money? Isn't everyone of us maximised on debt so we don't qualify even if banks have the money? Why is it that everyone needs credit to business? Nobody saved a buck? Thanks

Jane Vent's picture
Jane Vent - Mar 23, 2009

How about a tax break for the middle class retirees who lost 1/2 of their retirement funds in the stock market slide in 2007?

John Witte's picture
John Witte - Mar 22, 2009

The so-called "Bernie victims", including the reprehensible Wiesel (Israel apologist par excellence), are victims of their OWN GREED, pure and simple! UGH to ALL of 'em!

S.J. Phred's picture
S.J. Phred - Mar 22, 2009

So, the government wants to, ex post facto, tax a small minority of people excessively. Then it wants a tax break for one set of victims.

What happened to all men are equal, under God? Didn't Nixon also use the IRS to his benefit?

marty siegrist's picture
marty siegrist - Mar 22, 2009

Doesn't (or didn't) the IRS code already provide for deductions for losses? For that matter, could this qualify as a theft, hence casualty loss, under "scheduled deductions?"

Patrick S's picture
Patrick S - Mar 21, 2009

Chris Farrell's analysis was outstanding, as usual. In addition, many of Madoff's victims are very well-off, prominent Democrats who supported the President's 2008 campaign most generously. It is understandable that the IRS changed its rules to convey the regime's appreciation.

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