Twitterstorm delong: January 12, 2012
Chicago Macro: Will It Ever Stop?

Cameron Langford: Investors Say Supply Sider Arthur Laffer Backed a Ponzi Scheme

Cameron Langford:

Courthouse News Service: HOUSTON (CN) - Fifty-two investors claim fund managers associated with supply-side economist Arthur Laffer took $3.1 million to prop up a Ponzi scheme, then said nothing as their money was "wasted with no reasonable expectation of recovery." Lead plaintiffs Ronald and Lavonne Ellisor sued David Wallace, Costa Bajjali, and their entities Wallace Bajjali Development Partners LP, Wallace Bajjali Investment Fund II LP, the Laffer Frishberg Wallace Economic Opportunity Fund LP, and Arthur Laffer in Harris County Court…. A Laffer Associates employee told Courthouse News in a telephone interview today that Laffer has severed ties with the Laffer Frishberg Wallace Economic Opportunity Fund. "He was affiliated with them at one time, but he's not anymore," the employee said...