Why Suckering Americans Is a Booming Business

Business Fraud Is Thriving Amid Loose Regulation and Short-Term Gain Fixation

American capitalism has always provided openings for hucksters and outright swindlers.

For centuries, this society has been especially receptive to economic innovation and the strategies of wealth-seeking that so often accompany it. Openness to new technologies and new ways of doing business exacerbates information gaps between sellers and buyers. Those gaps, along with the enthusiasm that comes with new products and investment vehicles, create opportunities for fraudulent promoters and the bait-and-switch brigade.

As the journalist Edward Smith noted in the 1920s: “Every social change, every new invention brings to …

Brian Williams Isn’t the Only Self-Aggrandizing Journalist

Reporters Are Always Trying to Top Each Other with Boasts at the Bar. There Are Temptations to Carry That Over into the Newsroom.

Back in my newspaper reporter days we had a name for reporters who exaggerated details in a story: We called them “pipe artists,” and the stories they produced were “pipeski.” …

Did I Participate in a Ponzi Scheme?

How College Students Like Me Get Recruited Into Multi-Level Marketing

People dressed in business suits, many of them about my age, began to fill the rows of seats inside a private room at the Proud Bird restaurant near LAX. I …