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From Pensions To 401(k)s
One of the biggest hustles the US government ever perpetrated on the American people was convincing them that defined benefit pension plans were bad and 401(k)s were good. Let's see what happened there. The risk associated with retirement shifted fr...
Glass-Steagall
A congressman stated that we should think about bringing back Glass-Steagall and that it may have been a mistake removing it (he voted to remove it). At least he's honest. Anyone paying attention knows that removing Glass-Steagall was a mistake and ...
I Just Shake My Head As I Watch Gold Dive
Do regulators need any more proof that it's speculators driving the price of commodities and not fundamentals. Look at gold. As soon as it breached $1000 it shot to $1200 and now it's crashing and burning. And believe me, it had very little to do wi...
Goldman and Bank of America
Has anything really changed in banking? Let's consider the facts. Bank of America (BAC) had to pay back the TARP money so they could pay the incoming CEO a king's ransom. Now this is just speculation, but I bet they weren't able to get who they want...
The Rating Agencies Again
Earlier this week the rating agencies said Dubai was a risky bet and lowered them. Oh really. Why does anyone listen to them? I think part of the rating agency model is to wait until there's an adverse event. Oh wait, that is part of the model. That...
Regulation
A quick thought on all the regulation we heard was on the way a while back. Where is it? When the markets crashed and burned just months ago the feds said they would make sure it never happened again. Well? Please don't tell me now that things seem ...
