Dianne Feinstein Pwned by Banking Lobbyists
Feinstein’s record on votes (there were a few) regarding the “Safe, Accountable, Fair, and Efficient Banking Act of 2010″ is startling.
No on limiting leverage.
No on the FDIC ‘consumer financial protection’ department. This was weak, but better than nothing.
I didn’t dig around long enough to find the other parts of the bill voted on, but the [...]
Read moreSocial Class, Wealth Redistribution as Thoughtcrime
It’s Hard Times At the Bohemian Club
U.S. Postal Service Should Provide Banking
Crackpot scheme #243.
Capitalism is supposed to drive down costs and increase the variety of goods and services offered. Have costs for retail banking gone down? Are there more/different Retail banking operations? No to both.
Read moreDomestic Inflation is Killing Americans
Go Paul! Volcker Takes the Battle to the Streets
Paul Volcker is calling it right again.
In ‘light touch’ capitalism being practiced today, banks are accustomed to using proprietary operations inside the bank to generate the bulk of their profits. Mr. Volcker is calling for an end to those practices in this article.
It should be obvious that banking and finance should play a supporting role [...]
Cisco has Jumped The Shark
Time plan a Cisco exit. Seriously. An article at businessinsider.com gets into the reasons why. The comments there are worth reading too.
The new management structure is interesting, but I think it’s a clue that centralized command-and-control has reached a logistical limit. He can’t spin off parts of the organization either because [...]
Sucks to Be a Retail Investor
Everyone with a 401k should be happy the stock market averages are on a recovery. Right? Wrong. You and I are paying up front for the recovery with higher commodity prices. In the meantime, high-beta stocks are flying on very little volume and inside sales ratios are sky-high. The questions left [...]
Read moreRequired Reading
This is an absolute must-read regarding the workings (or not-working) of health insurance in the U.S. The ‘Nuclear Option’ in the Health Insurance Industry
More importantly the abuse of statistics in logic/reasoning. There is nothing like statistics, and most other numeric reporting like financial statements, to redirect discussion away from an important issue [...]