Posts Tagged ‘toxic assets’

Quick Hit: “Move Your Money”

Are small banks and credit unions safer than big banks?

Big banks and Wall Street caused the financial meltdown, were bailed out by the taxpayers, and are operating under the same destructive model that caused our financial problems. By remaining with any one of the top 20 banks you are helping create another financial crash that will be even worse for the global economy.

Occupy Wall Street has brought the collusion of  big banks and Wall Street into focus as the main cause of our declining economy. It has served, in growing numbers, to expose their collusion and calls for Congressional action.

But, the next move can be yours!

Read the rest of this entry »

Tags: , , , , , , , , , , , , , , , , , , , , , ,
Posted in Banking, Quick Hits, Rebalancing America, Too Big to Bail | Comments Off

“Hiding America’s ‘Real’ Economy!”

This article is available on The Huffington Post and was posted at 5:00 pm on January 20. Click on link to view on the Huff Post.

*********************************

America’s economy seems to be recovering but is that the ‘real’ story?

Some fourth quarter economic indicators—retail sales, manufacturing, stock market, corporate profits—portend a rising economy significant enough to avoid another slide to the bottom.

The optimism on Wall Street is palpable as the stock market continues to rise, or melt up as they now say, a result of the positive indicators over recent months. And the heightened exuberance the consumers showed this holiday season was also a positive sign. Manufacturing has been rising for the last several months which is seen as paramount to an improving economy.

The stock market is on its way back to its peak, due, in part, to record corporate profits.

The market is considered a forward looking indicator, and the private sector seems poised to stand on its own and no longer require the extreme measures it needed from the Federal Government.

So what could possibly go wrong and who would even whisper that things weren’t getting better?

Read the rest of this entry »

Tags: , , , , , , , , , ,
Posted in Economy, HuffPost Articles, Wall Street | Comments Off

“How Independents Can Save the Country!”

My newest article has been posted on The Huffington Post under Politics. Click on the Huff Post link to read the article there.

*************************

Never in our history has the Independent vote been so crucial.

Independent voters are generally ignored—politically speaking—until the last month of an election. But today, unlike any election in the past, they hold the future of this country in their reasoned and sane hands.

Once again, in state after state, county after county, and city after city, Independent voters are given weak and—in numerous cases—horrific candidates! Yet again, we are called upon to choose the political direction of this country for the next two years.

Independents in America are angry about what’s happening to our country, as angry as the partisan evocatuers who have openly displayed their angst. The Tea Party .

The vocal displeasure of the Tea Partiers has had a major affect on candidate selection in primaries throughout the country. Their anger at incumbents has swept away a number of established politicians in favor of a more raucous, but seemingly out-of-touch, group of individuals with unrealistic aspirations of changing government. To say the least, Tea Partiers are motivated. That motivation has mostly affected right-wing candidates but may have ramifications on the left side of the aisle on November 2nd.

Control, in fact the direction of this mid-term election, lies in the motivation and the resolve of a more stable, more reasoned, and growing political group—Independents.

Independents have chosen to not be affiliated with either Democrats or Republicans. And for good reason!

Read the rest of this entry »

Tags: , , , , , , , , , ,
Posted in Call to Action, Election 2010, Politics | Comments Off

“Surrounded by Warning Signs!”

Could the stock market still feel the pain of a double dip?

The market had a huge scare last week which left Wall Street reeling!

Traders, analysts, and everyone on Wall Street are worried that this might not just be a glitch. They’re calling it a “flash crash” but it could be one of the many warning signs that the market is just two converging economic crises from a meteoric fall to a new bottom?

The new bottom—a more realistic bottom given all the band aids that have been applied to this economy—could be the second leg of the double dip. There is compelling evidence, largely ignored, that the March low of 6,547 could be tested again.

Despite the rising markets there has been a pall over the trading floors for sometime. And rightly so. The signs are there and they are many.

But does that indicate a double dip?

Last Thursday, David Hefty, CEO of Cornerstone Wealth Management appeared on Squawk On the Street and identified several of the huge warning signs that threaten the global markets.

Read the rest of this entry »

Tags: , , , , , , , , , , , , , ,
Posted in Economy, Markets, Wall Street | 1 Comment »

“Break ‘em Up!”

There are many reasons why we need to break up the behemoths of finance!

The taxpayers saved their affluent asses. The Big Banks, along with their highly compensated executives, were headed over the cliff with nothing to stop their fall, and we bailed them out!

Break ’em Up!

Congress, in a panic, saw fit to give taxpayer dollars to the self-destructive creators of the financial crisis to prevent a catastrophic meltdown of the U.S. economy, without even asking us.

We’re told over and over that TARP was successful, that Congress’ decisive actions saved the economy and that we should be eternally grateful. We’re reminded that the Big Banks are again stable. They’re back to making billions of dollars—and the economy is improving.

For whom?

Read the rest of this entry »

Tags: , , , , , , , , , , , , , , , ,
Posted in Banking, Economy, Too Big to Bail | Comments Off

“An Economic View Into a New Decade”

The financial decade has ended and all evidence points to 10 years of nothing. That’s right, the stock market was actually down during the last decade!

A new decade has begun and with it comes high hopes for a much better decade than the last. At least for the market. The big question is, what will the next decade bring and what will the best bets be for investors?

As we entered 2000, a new millennium, we had what appeared to be a thriving economy. Jobs were plentiful, tech was booming, the country had a budget surplus, and a deficit of only $5 trillion.

A decade later we have unemployment at 10%, tech has leveled off and has moved to selling toys and gadgets, and the deficit climbed to $12 trillion. Banks are failing at an accelerating rate and big banks, those ‘Too Big to Fail’ after being pulled from the abyss with taxpayer money, are cheating the economy at a greater level than at any time since the 1920’s.

A lost decade? The worst in our nation’s history!

Are the prospects for a more prosperous decade any better than they were at the beginning of 2000?

Have conditions really improved? Read the rest of this entry »

Tags: , , , , , , , , , , , , , , , , ,
Posted in Economy, Predictions | 2 Comments »

“An Opinion on Mark to Market” (reposted)

In April the Financial Accounting Standards Board, FASB, changed Mark to Market. They are now considering reinstating the Mark to Market rules.

Some are opposed to FASB getting involved, claiming it will destroy our economic recovery. But the important aspect of reinstatement is a better accounting of toxic assets still on the books of many BIG banks.

In April I commented on how rescinding Mark to Market would allow banks to hide toxic assets and mask their earnings for a couple of quarters. Here is the actual article I posted on It’s Worth and Opinion:

**************************

Originally posted – April 6, 2009

Was the new change in Mark to Market accounting a positive thing?

The move last week by FASB the Financial Accounting Standards Board was met with a positive reaction by the markets. On Wednesday markets advanced in anticipation of a change in the Mark to Market rule. On Thursday the markets advanced even further after the board’s announcement (Dow up 201, 2%; S&P up 18, 2.3%) driven by what traders thought would be good for the banks, even those that are still deeply troubled.

Was the decision by the FASB Board more beneficial to the banks? Does it adequately protect investors? Will it be good or bad for the economy?

Read the rest of this entry »

Tags: , , , , , , , , ,
Posted in Banking, Economy, Opinion, Too Big to Bail | Comments Off