The Forbes 400 list of Richest Americans celebrated its 25th anniversary this year. When the list was first published in 1982, the bottom of the list could be yours for a mere $90 million. In the 2007 listing, it takes $1 billion to join the party. Staggering.
After you’ve perused through the pages of the magazine, you’ll feel like you’ve clinked Cristal with The Donald (net worth $3 billion) and wondered what 33-year old John Arnold (net worth $1.5 billion) has that you don’t have. Now that you’ve had your fun, join me back on terra firma as we walk through “everyday wealth.”
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Wall Street is all over the Fed rate cut like a cheap suit—and why not? Cheap money means more profit. But clearly such a significant rate cut, (0.5% versus the expected 0.25%) tells us that the Fed thinks a serious economic threat looms and possibly a full-blown recession.
What a summer it’s been: the rash of housing foreclosures, the near-collapse of Countrywide—and the layoffs, Bernanke’s first tests at the Fed, the Bear Stearns fund collapse, more layoffs from Countrywide, and September 18’s rate cut.
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EXTRA! EXTRA! READ ALL ABOUT IT: Your friends are making you fat.
Your friend catches a cold, you catch it. That makes sense. But is obesity catching? According to a new medical study recently published in The New England Journal of Medicine, social networks can spread more than just germs—they can spread lifestyle habits.
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