New Credit Card Rules Take Effect Today August 20, 2009

nalini — Thu, 20 Aug 2009 02:00:00 +0100

Credit card customers get a break starting today, thanks to the newly passed Credit Card Act of 2009.

Companies must now mail bills at least 21 days in advance (instead of the lame 14 days) and they must provide at least 45 days notice before making any significant changes in fees or interest rates.

It's a start.

The bulk of the changes which could save people a ton of money in interest goes into effect in February 2010. For example, they credit card companies will [...]

When Will The Economy Recover?

nalini — Tue, 18 Aug 2009 02:00:00 +0100

No one knows when the economy will actually recover.

Don't let anyone tell you they know. They don't.

In today's Wall Street Journal, I got a kick out of an article titled, "The Economic Recovery: Fast, Slow or Neither?" Fortune telling financial analysts are crawing out of the woodwork to proclaim their predictions.

Just ignore them.

Read the article instead as a way to educate yourself in three of many ways the economy may proceed.

K [...]

How Quickly Banks Want Us To Forget

nalini — Mon, 27 Jul 2009 02:00:00 +0100

I just got off the phone with a man who is desperately trying to figure out how to make it until his retirement kicks in. He just got laid off and has some physical challenges that makes employment in his field at best challenging, and at worst, impossible.

He's out scouring for a decent job so he can put food on his table and afford a much needed surgery.

And, Goldman Sachs just reported record profits. This just pisses me off. And many other banks, such as Citibank have the [...]

Making Stock Safer Investment - Possible or Oxymoron?

nalini — Mon, 06 Jul 2009 02:00:00 +0100

In today's Wall Street Journal, an article titled, "Design Challenge: How to Make Stocks Safer for Older Investors" profiled so-called "safe stock" investments.

The article focuses on stock-based investments that guarantee upside plus protection. The last I checked, that doesn't pan out. The Journal likens this to alchemy. I say it's trying to have your cake and eat it too.

One of the reasons stocks pay the returns that they do, is bec [...]

Investors Voting With Their Feet

nalini — Thu, 25 Jun 2009 02:00:00 +0100

I was so pleased to read about investors withdrawing their assets from their wealth management firms in today's Wall Street Journal.

The old model is broken. It's based on getting as many assets under management as possible and charging fees based on the amount of those assets. What's more, many firms accept commissions and other fees on financial products they recommend.

That's just wrong. Too much temptation to recommend one product that has juicy commissi [...]

Thoughts On The Government's Financial Reform Proposal

nalini — Thu, 18 Jun 2009 02:00:00 +0100

We are a long way from benefiting from any real reform. Though there are elements of the Administration's proposal that I believe could ultimately benefit business and individuals, the reforms appear as little more than political window dressing. Moreover, these initiatives still have to pass into law - and much can happen as well as die on the vine - before legislation gets passed and signed into law by President Obama.

You can download the Treasury's Proposal here:

Choice Between Doing Too Little Too Late or Too Much To Save The Economy?

nalini — Thu, 23 Apr 2009 02:00:00 +0100

Simon Johnson and Peter Boone, both notable economists with common sense (don't laugh!) have written a thoughtful piece on what the US should be doing to salvage the financial system (published by the New York Times).

The net net. The US Government should stop being so cautious and unwilling to restructure America's banks and should instead force the restructuring now while the public's appetite is up for it. We have so much more to lose by cautious partial interventions tha [...]

Something fun re: Bernie Madoff for a change

nalini — Mon, 20 Apr 2009 02:00:00 +0100

You have to read this article about 6 degrees of Bernie Madoff. Enjoy!

Click the link below to see the article

http://www.bankrate.com/elink/news/advice/20090416_six_degrees_madoff_a1.asp

Intelligent Debate About The Treasury Plan to Deal With Toxic Assets

nalini — Tue, 24 Mar 2009 02:00:00 +0100

I encourage you to follow thought leaders on what could happen vis a vis the Treasury Department's (aka the Geithner) Plan to shed banks' toxic assets off their balance sheets, free up capital for lending and restore our confidence in the financial system.

The New York Times has published the perspectives of 4 highly regarded economists: Paul Krugman, Simon Johnson, Bard Delong and Mark Thoma.

Read the article here: http://tinyurl.com/d6y8bf

Stay tuned for my analys [...]

Excellent Source of Information About Treasury Programs

nalini — Mon, 23 Mar 2009 02:00:00 +0100

Here's a website for you that contains documents and links about what the US government is doing to help stablize the financial system.

http://financialstability.gov/

You can read the latest offerings from Treasury on the Public Private Investment Program, unlocking credit for small businesses, and making your home more affordable.

Do Bonuses Really Provide The Right Incentives?

nalini — Fri, 20 Mar 2009 02:00:00 +0100

I agree with the public outcry about the bonuses paid to AIG executives who failed not only their company but created an enormous problem that we taxpayers are digging out of now.

Like most things, though, let's not confuse the proper and effective use of bonuses and other incentives with the mess promulgated by the so-called "brainiacs" at AIG.

I encourage you to study what happened at AIG. You'll definitely understand what not to do in terms of structuri [...]

Great Resource For You Entrepreneurs

nalini — Wed, 18 Mar 2009 02:00:00 +0100

If you are starting or running your own business, listen up!

Check out Harlan Kilstein's site, Tactic 7. Yes, I'm biased. Yes, I'm a huge fan. Yes, I have actually worked with Harlan. Chances are you need his no BS, take no prisoners approach.

Check out his site here: http://tactic7.com/

And, come back and thank me!

Madoff's Done Nuthin' Compared To Our Very Own Government

nalini — Tue, 17 Mar 2009 02:00:00 +0100

In trolling for the most thought provoking insights about our money, I came across an intriguing article highlighting Social Security, Medicare and the current Universal Healthcare initiative sponsored by the Obama administration as....drum roll please....

PONZI SCHEMES.

That's right. The very scheme that Bernie Madoff pled guilty too last week is what columnist Craig Cantoni is calling two of our largest social programs.

What do you think?

Do you know what happens [...]

Tough Love, Truth-Telling Jim Rogers

nalini — Thu, 12 Mar 2009 01:00:00 +0100

I sure wish our federal govenment had the intestinal fortitude that Jim Rogers talks about during his interview with Maria Bartiromo of Business Week.

It's absolutely nuts that many people actually believe the hype that there are companies that are simply too big to fail. The real crime is in not letting the companies and the people that run them the "opportunity" to experience the impact of their dumb decisions (I'm being kind here) and to let them off - with h [...]

Foreclosure Prevention Program - More Scamming Opportunities...YUCK!

nalini — Thu, 12 Mar 2009 01:00:00 +0100

Did you catch the Wall Street Journal article March 11, 2009 about the scam artists coming out of the woodwork offering to "negotiate" great terms with banks on behalf of the more than a million people who are threatened by foreclosure on their homes?

Forgive me for generalizing, but many of these people are vulnerable. These are the same people who didn't do their homework to understand the lending terms that got them into hot water in the first place. And, I don't kn [...]

Soul Searching and the Ethics of Money in Hard Times

nalini — Thu, 12 Mar 2009 01:00:00 +0100

Aren't you relieved that Bernie just pleaded guilt already?!

Can you imagine the expense of a long-drawn out drama of a trial? Aren't you thrilled that he's spared us that?

I'm still so pissed. And I got even more pissed when I read his testimony before the judge during his hearing to waive his trial and plead guilty. The judge asked him about the genesis of his bilking scheme. Madoff replied, “I believed it would end shortly and I would be able to extr [...]

There Should Be Strings Attached to Those Bailed Out

nalini — Mon, 02 Mar 2009 01:00:00 +0100

I'm rather enjoying seeing the arrows flying back and forth since the Obama administration unleashed, I mean released, its budget package last Thursday.

I, for one, am happy to see green energy and healthcare as priorities that might actually receive adequate funding and serve our society much more effectively than past initiatives have.

And, I'm equally disturbed and dismayed at the notionof rewarding bad judgement and bad behavior. Where do we draw the line between what& [...]

The End of Wall Street?

nalini — Thu, 19 Feb 2009 01:00:00 +0100

Though it's only been a few months, we are starting to see some thoughtful analysis about what caused the economic meltdown. In scouring the net, I discovered an excellent news analysis from the Wall Street Journal about the End of Wall Street as we know it.

Here's the link to the first video:

http://online.wsj.com/video/end-of-wall-street-what-happened/1F02EFEC-569A-4FED-9BF9-D89CD6E57AD0.html

As always, I welcome your comments.

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nalini — Mon, 09 Feb 2009 01:00:00 +0100

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Stimulating The Wrong Things

nalini — Mon, 09 Feb 2009 01:00:00 +0100

Clearly I wasn't done ranting about the misguided stimulus plan.

If it weren't bad enough that the US Treasury and Congress are mucking around for new fangled ways to save banks...now relying on private investors to help bail out the banks...now I'm digging into the Senate and House versions of the stimulus package and what a disappointment.

Instead of providing relief to state governments who are really strapped now and people who have recently joined the unemp [...]

Blog Entries

New Credit Card Rules Take Effect Today August 20, 2009

When Will The Economy Recover?

How Quickly Banks Want Us To Forget

Making Stock Safer Investment - Possible or Oxymoron?

Investors Voting With Their Feet

Thoughts On The Government's Financial Reform Proposal

Choice Between Doing Too Little Too Late or Too Much To Save The Economy?

Something fun re: Bernie Madoff for a change

Intelligent Debate About The Treasury Plan to Deal With Toxic Assets

Excellent Source of Information About Treasury Programs

Do Bonuses Really Provide The Right Incentives?

Great Resource For You Entrepreneurs

Madoff's Done Nuthin' Compared To Our Very Own Government

Tough Love, Truth-Telling Jim Rogers

Foreclosure Prevention Program - More Scamming Opportunities...YUCK!

Soul Searching and the Ethics of Money in Hard Times

There Should Be Strings Attached to Those Bailed Out

The End of Wall Street?

Subscribe to my blog

Stimulating The Wrong Things