Category: Biz and Econ

Discussion on all things business related.

Obama Casts Wide Blame for Financial Crisis and Proposes Homeowner Aid – New York Times

Obama Casts Wide Blame for Financial Crisis and Proposes Homeowner Aid – New York Times:

“‘Instead of establishing a 21st-century regulatory framework, we simply dismantled the old one,’ he said, ‘aided by a legal but corrupt bargain in which campaign money all too often shaped policy and watered down oversight.’”

(Via The NY Times.)

I’m always for keeping things balanced. One thing he can’t say without losing his bid is that a 21 century framework has to be structured so that debtors shoulder some responsibility. While I’m sure many were hoodwinked and bamboozled, many others simply got greedy and gorged on cheap debt. They have to be taken to the shed as well. Let’s hope Barack leads in an effort to setup such a system.

B.E.T. Honors

For much of the network’s life, I have not been a big fan of it’s social impact. Far too many booties shakin’, gangstas, and not enough positive images or ideas. But as of late, I’ve seen some pretty good programming. The kind of stuff the community has been clamoring for years despite Bob Johnson. This program is a great example of what I hope to be a mainstay of the network. If it doesn’t, we can always watch more of the Boondocks!

Mutual Funds Get Greedy

Mutual Funds Get Greedy:

“That’s what prompted me to tell the radio interviewer, ‘That’s why mutual funds suck. Not only do they suck 80 percent of the dividends, in come[sic] cases they suck another 73 percent of other gains from investors.'”

(Via Yahoo! Finance.)

Robert Kiyosaki
Mr. Kiyosaki is so right that the mutual fund industry is taking the average investor for a ride. The fees are far higher than justified because the average investor doesn’t get what she pays for: superior returns. If memory serves, fully 80% of active fund managers, i.e. stock pickers, can’t beat the market. Monkey’s throwing darts at the Wall Street Journal do better! Of course, there will be managers who beat the market for short periods of time and an elite few do so over the long haul. But who knows who they will be apriori? If you have that kind of crystal ball, skip the manager and get right to picking the right stocks!

Fuzzy Math

I’ve long been a fan of Robert Kiyosaki and the Rich Dad, Poor Dad series of books and was surprised to come across this gem of an article. Not for the writing, but for the statement on our leaders inability to even adequately manage this country’s vast wealth. This applies esp. to Bush who has borrowed into the stratosphere. And let’s not forget that in the midst of repealing the so-called “death tax” that only 1 in 37,000 of us will actually pay. More of the burden for repaying this debt will fall to our children long after those who are responsible for it have left the scene.

What Ails GM and America?: Why the Rich Get Richer – Yahoo! Finance:

“I would say that what’s good for GM and for America is to treat workers and investors fairly. Tell us the truth. Admit incompetence. Stop pretending. Stop the fuzzy math. Of course, telling the truth will mean being thrown out of office, but that might be a good start for an economic recovery.”

I’ve long been a fan of Robert Kiyosaki and the Rich Dad, Poor Dad series of books and was surprised to come across this gem of an article. Not for the writing, but for the statement on our leaders inability to even adequately manage this country’s vast wealth. This applies esp. to Bush who has borrowed into the stratosphere. And let’s not forget that in the midst of repealing the so-called “death tax” that only 1 in 37,000 of us will actually pay. More of the burden for repaying this debt will fall to our children long after those who are responsible for it have left the scene.

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