From the category archives:

Silly Government Ideas

Great News for Americans in the 401(k) World

February 28, 2010

Finally, some regulations in the financial services world that actually benefit Americans. The Department of Labor (DOL) recently released proposed regulations that would limit the ability of financial advisers of providing advice to 401(k) participants if the adviser receives compensation from the product provider. What does this mean to you? Imagine you go to a [...]

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Senator Dodd Screwing Over American Citizens – So What’s New

February 25, 2010

Senator Dodd is going to introduce financial reform legislation soon, and he will be excluding the provision that dictates brokers act as fiduciaries for their clients. While most Americans have no idea what a fiduciary is or that their broker is not putting their interest first, this hurts consumers. This means that Wall Street will [...]

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Another Silly Vote Pander in Housing

February 19, 2010

Today, President Obama spoke in Las Vegas where he promised to allocate $1.5 billion to unemployed homeowners in Florida, California, Michigan, Arizona, and, of course, Nevada who owe more than the home is worth.
I know President Obama is an intelligent man. He was editor of the Harvard Review, usually given to a pretty sharp person. [...]

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Will Fiduciary Oath Become Reality

February 16, 2010

An article in the New York Times discusses the recent Congressional debate over instituting a fiduciary standard in the brokerage/financial planning world. What is a fiduciary standard? Why should you care? People acting under the fiduciary standard must put the interest of the client, customer, or recipient first, above all others including their own. Usually, [...]

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Gloom, Doom, and Boom Editor Calls for Government Default

February 10, 2010

Interesting CNBC segment (I don’t say that often) from Marc Faber, the editor of the Gloom, Doom, and Boom newsletter, where he says the US and other highly indebted governments will default on their debt. Tip of the hat to Zero Hedge.

Most pundits believe that the US and others will merely print enough money to [...]

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Social Security Faces Shortfall in 2010

February 4, 2010

Interesting article about the current situation of Social Security. Hat tip to Random Roger.

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Dire Outlook for Government Debt

February 1, 2010

Here is the latest article on the Daily Reckoning website. It was written by David Walker, the ex-GAO auditor who now heads the Peter Peterson Foundation, which is dedicated to educating the public on the upcoming debt tsunami.
America 2030: Why We Must Act – Now
By David Walker
New York, New York
Those of you who are parents [...]

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Mark-To-Fantasy Continues

December 19, 2009

As reported at The Hill, the requirement for banks to mark assets to market prices was delayed for another year by the FDIC. Mark to market accounting means that if one bank sells an asset for a certain price then all other banks must price similar assets at that price.
Currently, banks are not required to [...]

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Flawed Socialized Medicine Arguments

June 4, 2009

Here is an article from Reuters discussing a study by Harvard Law and Medical schools as well as Ohio University stating that medical bills are involved in more than 60% of personal bankruptcies. They also note that 75% of these folks HAD health insurance. Further, they cited that the typical bankruptcy victim was well-educated, a [...]

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Government Credit Card Reform Will Hurt Responsible Customers

May 19, 2009

I am all for the credit card companies having to disclose their fees in an easy to read manner. I think full transparency is essential, and I believe they don’t do that now. Their contracts are harder to read than Beowulf.
But, the government is overstepping its bounds by mandating capped rates and disallowing card companies [...]

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