The GOP Convention: Gaffs, warts and all….

1. I started to watch the GoP convention, only to last about 10 min. Even the delegates seemed bored. The same old stuff: Ban Abortions, Trash Obama, Take back our Constitution? I hadn’t realized it was lost,until Justices Scalia and Thomas perverted it’s use to push through the Citizens United Legislation. By all means, let’s … More The GOP Convention: Gaffs, warts and all….

Has the day of the auditor finally arrived?

1. Sounds like good news to me. Business Section NYTimes 8/24/12. Small audit firms doing their job and finding problems in 100% of 23 brokerage firms audited. Even the big 4 accounting firms are not so cozy with their clients. They too are finding “accounting deficiencies”. A former partner at Coopers and Lybrand, stated that, … More Has the day of the auditor finally arrived?

Crony capitalism, loss of power for the “People”

1. The EPA is partially controlled by The White House, according to sources interviewed at the EPA, NY Times 8/23/12. Ties to Excelon by the President, David Axelrod and former chief of staff, Rahm Emanuel have aided Excelon in gutting directives sponsored by the the EPA. “Since the Fukushima accident, Excelon, has minimized how much … More Crony capitalism, loss of power for the “People”

It Bogle’s the mind, Feats of courage and LOL

It Bogle’s the mind, Feats of courage and LOL

  1. To paraphrase The NY Times 8/12/12, John Bogle states that this is the worst time for investors that he has seen.  He urges everyone to wake up because the financial system has been badly damaged and a Black Swan event, something apocalyptic, though small is real.  He further urges  return to fiduciary responsibility.  In an ideal world, people would do the right thing, but as many have noted before, enforceable laws , creating stability in the marketplace is required once again.
  2. Also quoted, in the NY Times, Gretchen Morgenson, requests that we mark 8/29 on our calenders because the SEC votes on limiting taxpayer exposure to teetering money market funds when the next financial meltdown occurs.  Mary Schapiro , Chairwoman of the SEC is committed to protecting taxpayers and intends to require funds to set aside capital to protect their share price.  But , to no one’s surprise, the fund managers strongly oppose any new capital requirements.  It’s better to “stick it”to the taxpayers once again, then live up to their fiduciary responsibility.
  3. (4 ) NY Democratic Representatives are skipping the Democratic Convention in Charlotte, North Carolina.  They are Representatives: Bishop, Hochul, Owens and Slaughter… Takes courage to stay away from the circus, courage that should be admired and replicated by other Congressmen from both Parties.  After all, with Citizens United, this is no longer a “free” election.  We will be electing the best that money can buy.
  4. And in the LOL column, A toy that was included in our Tedx Bounty, Buckballs, has been taken off the market.  I thought these rare earth magnets were an interesting diversion and gave them to my creative 16 yr old grandson.  Though he has made many tetrahedrons and other interesting designs, it never occurred to me that this was a dangerous “object”.  Don’t blame the manufacturer , take personal responsibility and don’t give it to small kids or anyone who may choke on these balls.  We’re not outlawing bullets.  Why should we outlaw Buckyballs?

 

More It Bogle’s the mind, Feats of courage and LOL

Financial Times: read and wonder: the next crisis?

1. The markets rallied as Standard Charter escaped heavy fines and accountability for alleged money laundering of 250 Billion for Iran. They got away with a 340 million dollar fine/ a slap on the wrist and a black eye for the NY regulator who brought the charges. StanChart’s stock rose 4.5%. As investor’s applauded the … More Financial Times: read and wonder: the next crisis?