Our Financial System is Broken

How much more evidence do we need, to say that our financial system is broken.  Case in point – the recent Facebook IPO.  Here’s another example of how Wall Street and the major financial institutions took advantage of the average citizen with a ridiculously over-valued offering price for Facebook.  It started out at $38 per … Read more

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Stop a Potential Food Labeling Fiasco

Remember the “pink slime,” i.e. leftover scraps from beef processing that get sanitized with ammonium hydroxide and then are added to ground beef.  Well now the beef industry is proposing to label the beef products that contain ammonium hydroxide sanitized beef as (are you ready for this?) “contains lean finely textured beef.”  How do these … Read more

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Google – Oops! Was that supposed to be private?

Never a dull moment with these big Internet companies.  Did you know that Google has overridden a security feature in Apple’s Safari browser to make it accept cookies?  Yes, it’s true.  Read about it here – http://on.ft.com/zWbUbp What I also found very interesting is that Google’s own browser – Chrome, does not even have a feature … Read more

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European Bank Stocks Rally – Why not?

I saw this article in the Financial Times and I had to comment.  There was a big rally in European Bank stocks in January.  http://on.ft.com/xuvEpq Why shouldn’t European Banks rally?  They are getting practically free money in the form of low interest loans from the European Central Bank as part of an unlimited three year … Read more

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PM Criticizes EU

I think the UK Prime Minister should turn his attention to fixing the problems in the UK and let the Eurozone leaders work on sorting out the problems with the Euro. Read the article here: http://bit.ly/xdDHuT He already created enough problems when he vetoed a proprosal for more financial rigor within the Eurozone at last months … Read more

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Update on the Collapse of MF Global

Well here’s the article that lays it all out: the overconfidence, the intimidation, the big ego, the reckless use of power. A big thank you to The New York Times for reporting on this financial tragedy.  http://nyti.ms/uIoyJu We do not have adequate regulatory controls over financial institutions to prevent this scenario from playing out time … Read more

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Proposed Occupy Wall Street Manifesto

The “Occupy Wall Street” movement is being criticized in the public media for not having a unified manifesto.  Here’s a proposal: 1. We want legislation enacted that would reinstate the provisions of the Glass-Steagall Act (The Banking Act of 1933) separating the activities of commercial banks, investment banks, bank holding companies, and insurance companies. 2. … Read more

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We Need More Financial Sector Regulation

I read an editorial in The Economist about the recent “Occupy Wall Street” movement.  I find it interesting that the author took the liberty of editorializing about several symptoms of the 2008 financial crises without adequately addressing the cause. The author talks about the need for more economic stimulus to get people back to work … Read more

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