Where is the arbitrage in the CD market?

I was never a fan of buying bank CDs. Especially long term CDs that often had yields that were often at or below the rate of inflation. I viewed them as something only a grandmother could love. But after realizing that a bank CD is more properly viewed as bond with an implicit US government guarantee (up to certain amount), it was time to compare them to treasuries. And that is when I found something quite interesting (thanks to the writing of ... read more)

Op-ed in NY Post

Here is a link to an op-ed I wrote that was published in the NY Post (it was edited so not all the language is mine!)

http://www.nypost.com/p/news/opinion/opedcolumnists/an_ugly_irs_power_grab_0beonAmh199715OrSbCnCI

Also, you can find more links about the suit here.

We are suing the IRS over their illegal licensing scheme

Yes, even baby Blue can't believe the IRS's blatent power grab. On Tuesday March 13, 2012, our lawyers at the Institute for Justice will be challenging the new IRS licensing scheme in Federal Court.

The new IRS licensing scheme will raise our costs and prevent us from efficiently servicing our tax clients in the most cost effective manner possible. Since they issued this rule illegally, without congressional authorization, we decided to sue them.

We'll keep you posted on the status of the suit as it winds through the court system.