DEBT. No wonder folks hate debt. We were brought up the same way. Little credit card debt. No money spent unless you had it. Never shopping for the pleasure of shopping. You wanted something you bought it. End discussion. Now the recession has made The Middle Class paupers in mind , spirit and actuality. The … More PUBLIC ADVOCACY: Debt Private & Public
The art of listening carefully. When some people speak, you have to listen. When John Kerry said, Israel will make Peace with The Palestinians or there would be a Third Infatada, he knew ! No, not the rocks and bomb type, but the Monetary kind. Like Thomas Friedman echoed in the NY Times, 2/5/14, European … More PUBLIC ADVOCACY: The art of listening
As the media diverts our attention once again from job creation and Obama ponders income inequality which his policies have exacerbated. Our attention is diverted by more articles then I can count: climate Change’s effects on Monarch Butterflies, penguins and polar bears; the rush to fracking without a means to transport gas products causing widespread … More PUBLIC ADVOCACY: Fear of risk is holding the Country hostage to ” bad ” policy
According to Thomas Hoenig, reporting in the FT 8/20/13, a Vice Chairman of the FDIC, ” recent research found no evidence that higher bank capital leads to lower volumes of loans over the long run. ” Given the magnitude of the Financial Crisis of 2008; does anyone really believe that greater capitalization of the … More PUBLIC ADVOCACY: The Financial Times: Safe Banks/Economic Growth
This article in the NY Times DealBook captured my attention. /” Overhaul of Israel’s economy has lessons for the United States. ” There are lessons to be learned, though the scale of Israel’s problem never reached the level of inequality seen in the United States; it is a cautionary tale. “Per Steven Davidoff, of the … More PUBLIC ADVOCACY: One Nation’s Pyramid is another’s Cartel
Decrease the Banking Sectors proportion of the GDP and Create Jobs. Banks and Bank” like structures” account for 60% of the GDP. With the new accounting rules, we’ve been fooled into believing the unemployment rate has decreased. But it’s not true! Wall Street and equities have skewed the numbers and these calculations have nothing … More PUBLIC ADVOCACY: Regulate Banks and create JOBS!
Now that the mid term elections are upon us and 2016 is being talked about, expect the stimulus to flow! But what’s the difference, the money will benefit a few, while the rest of the Middle Class remains mired in debt, with no job prospects and without “hope for a better life”. Nothing has changed … More PUBLIC ADVOCACY: Stimulus? Jobs! Morning in America
Let’s go to the movies. I Just saw the “WOLF OF WALL STREET” a Scorcese and Leonardo di Caprio tour de force. I felt the same way I had felt years ago, when I saw” Goodfellas”, dirty. The excesses on Wall Street have increased non stop through the decades. With the stakes higher then they … More PUBLIC ADVOCACY: The Excesses of the Banking/ Broker Cuture
I had first hand knowledge of a Merchant Banking Culture in the early 80″s. It may not qualify me as an expert, but I was hired to find a significant loss reported in the Annual Report of Banker’s Trust. I followed the money, the procedures, and found the loss. I was authorized to hire an … More PUBLIC ADVOCACY: The Banking Culture
Gretchen Morgenson, NY TIMES 1/5/14, A roadblock to brawny Bank Reform. The need for tougher Capital Rules. ” It is unclear why the Fed is stalling on the leverage ratio to be maintained to prevent risk and create a Bank capital cushion that frees the public from another bailout? “Basel 3 will not be implemented … More PUBLIC ADVOCACY: The need for Bank Capitalization and Regulation