Who Is At Fault – Madoff, SEC or A Third?

Tuesday, June 16, 2009, 11:37 PM | Leave Comment

Three entities are involved. They are all mutually exclusive. One doesn’t know about the other. I think the third one is at fault with their inherently God-given so very important characteristics they cannot live without. Bernie Madoff Bernie Madoff managed to lure billions of dollars away from huge charities, as well as wealthy individuals in […]

States’ Budget Crack Being Filled With Tax Hikes

Tuesday, June 16, 2009, 11:30 AM | Leave Comment

These days, we, the American people, seem to be responsible for almost everything. If the Federal or State needs to fill their treasury, the authorities look up to us. I don’t know about you guys, but I have not felt so important in my life of 6 decades as I do now, even though the […]

Lost all my GM shares

Monday, June 15, 2009, 7:33 PM | 1 Comment

Well! I would have lost all my GM shares, had I owned some. But I didn’t own any, so I didn’t lose any. Is that a good logic? I mean if you don’t buy things, you don’t pay for things. But sooner or later, you gotta buy something. I am glad that “something” I bought […]

Taxpayers Have Invested Billions In Detroit

Wednesday, June 10, 2009, 9:24 AM | Leave Comment

There is an article on foxbusiness.com “Taxpayers Have $80.3B Invested in Detroit” by Peter Barnes published on June 8, 2009. In the article, Peter says: The taxpayers’ investment in the U.S. auto industry rose to $80.3 billion, after the U.S. Treasury provided a new $30.1 billion bankruptcy loan to General Motors on Wednesday, two days […]

Decline In Consumer Spending Is Crimping Economic Recovery

Tuesday, June 9, 2009, 5:25 AM | 1 Comment

A survey conducted in February for Securian Financial Group found that, thanks to the recession and the decline in the financial markets, Americans are more focused on reducing their debt than spending. The number one financial goal of pre-retirees and second-highest goal of those already retired is to “pay off loans, overdue bills, and other […]

Automakers Bankruptcy – Is The Dismantling True?

Saturday, June 6, 2009, 10:08 AM | Leave Comment

General Motors is breaking up. For so many years, it was a symbol of American ingenuity, innovation and at one time luxury as well. Foreign entities are rumored to snap up the broken pieces one by one. What if they actually succeed in overcoming the regulatory hurdles and what if they all succeed in bringing […]

GM’s Chapter 11 filing – who wins and who loses

Friday, June 5, 2009, 8:37 AM | Leave Comment

First off, the big losers as always are the stockholders. They are simply wiped out, and the value they once held goes to creditors. So the creditors win, whoever and wherever they are. That’s how the American systems of bankruptcy works. Many employees, in tens of thousands, would be laid off. We hear that several […]

FDIC extends $250,000 deposit insurance till Dec. 31, 2013

Thursday, June 4, 2009, 10:14 AM | 6 Comments

On Wednesday afternoon, the President signed this bill into law. The extension of the $250K coverage to 12/31/2013 is now official. On Tuesday both the House and the Senate passed an amended version of Bill S.896 which includes a provision to extend the temporary increase in deposit insurance from December 31, 2009 to December 31, […]

Speaking English Without The Use Of Acronyms Is Hard

Wednesday, June 3, 2009, 6:02 AM | Leave Comment

In finance and other disciplines, we have been bombarded by a variety of acronyms, mostly by all three branches of the government but to a lesser extent by private sector as well. Can we speak English without the use of acronyms? It depends on the subject and the talk of the moment. In some cases, […]

Lessons From A Personal Credit Crisis

Tuesday, June 2, 2009, 5:45 AM | 1 Comment

There is an article on forbes.com written by John Tamny, published on June 1, 2009. The article is about the personal credit crisis of New York Times economic reporter Edmund Andrews. In the article, John states that Ed bought brick town house for $460,000. The “economic” reporter was making $130,000 a year with take home […]