By Michael F. Cannon
Investment giant J.P. Morgan made a bad trade that cost its owners $2 billion. The responsible parties are losing their jobs. Yahoo’s CEO evidently misled people about his qualifications. As a result, he lost his job. If you want to know why these are market successes, consider: Medicare and Medicaid lose at least 35 times [...]
J.P. Morgan and Yahoo: Market Successes is a post from Cato @ Liberty – Cato Institute Blog
By Michael F. Cannon
What the media blare: Levinson Snags $515 Million in Health Care Fraud More than 100 Charged in Massive Medicare Fraud Busts in 7 Cities in Scams Totaling $452 Mil What I hear: Drip . . . . . . . . . . drip . . . . . . . . . . . . [...]
Medicare Fraud Posse Cackles as If They Laid an Asteroid is a post from Cato @ Liberty – Cato Institute Blog
As part of an ongoing series, Heritage’s Center for Legal and Judicial Studies identifies a “Bill of the Week” which impacts overcriminalization in America. The Contracting Oversight for Small Business Jobs Act of 2012 is a classic example of the overcriminalization of fraud. Senior Legal Fellow Paul Larkin has gone in-depth on the topic before. There are dozens of federal fraud laws on the books that are being enforced in every federal district court. Even so, Congress keeps finding ways to customize fraud for particular special interests. As Larkin quips, … More
By Michael F. Cannon
Medicare and Medicaid are rife with fraud. We’re talking 10 percent or more of total spending, which is two orders of magnitude more than what credit card companies tolerate. In a recent article, I explained a couple of ways such fraud occurs: For providers, Medicare is like an ATM: So long as they punch in [...]
As Predicted, Obama Administration Backs Off Medicare Anti-Fraud Efforts is a post from Cato @ Liberty – Cato Institute Blog
The Washington Examiner recently reported that the two states bordering the nation’s capital are two of the five worst states for food stamp fraud. The above table shows the inverse relationship between the number of food stamp recipients and the percentage of cases investigated for fraud in Virginia, Maryland, and the District of Columbia. While the number of food stamp recipients has significantly increased (now up to a total of 45 million Americans) the percentage of cases investigated for fraud has not increased or even remained constant. The result is … More
