I have to worry a bit when I agree with articles in FrontPage Magazine, but Larry Elder's Don't "Reform" Investing, correctly points out that we should not put restrictions on how much employees can put into their own company's stock. Warnings should be given about diversification, certainly. But if people want to make the mistake of putting 90% of their savings in their own company, or any company, then that should be their right. We cannot protect people from themselves with laws. By trying we do nothing more than remove personal responsibility and encourage people to expect the government to protect them from every little thing.
The Financial Action Task Force on Money Laundering issued its latest set of 40 recommendations on fighting money laundering in 1996 and a new set of eight recommendations on combating terrorist financing in 2001. The U.S. has taken published self assessments of our compliance with these recommendations.
Dollar may replace afghani: on a proposal by the Asian Development Bank to discontinue the Afghan currency and replace it with a convertible currency such as the dollar. May I suggest they think twice and then talk to the Argentine president if they still want to do this? [via Unknown News]