The End of Reckless Spending
Yesterday, the Democratic establishment got a huge shock when the state of Massachusetts voted Republican Scott Brown into office for the U.S. Senate. Massachusetts is a staunchly Democratic state and...
View ArticleConsumer Protection & Responsibility
Last week, Andrea from one of my favorite blogs Fools and Sages wrote a piece called The Slippery Slope of Consumer Protection. Her conclusion was that a double-standard exists in the area of consumer...
View ArticleCustomers Sue Banks for Compliance
I have noticed a new trend in the conflict between banks and consumers. Customers are suing their banks for a variety of reasons and these lawsuits are starting to become problematic for banks. It...
View ArticleBank Troubles in the News
There is a plethora of exciting stories in the news this week. The common theme is that banks are in the cross-hairs of regulators, who have finally started to pull the trigger. It will be...
View ArticleWhy Banks are out of Control
I just had an interesting comment debate with my buddy Matt over at the Online Investing AI Blog. Matt’s a big fan of derivatives and a laissez-faire kind of guy. He views government regulation with...
View ArticleThe Benefits of Financial Reform
The Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law by President Obama today. Anyone who follows my blog has heard me clamor for years about the need for these types of...
View ArticleThe Federal Reserve Plunders America
Few things make me angrier than being cheated or deceived. And, I believe we are being deceived by our government and cheated by the special interests that corrupt our officials. Normally, I avoid...
View ArticleThe High Cost of Drugs and Crime
One of the defining issues facing society right now is the high cost of drugs and crime. And the cost isn’t entirely financial. The cost in ruined lives and broken dreams cannot be calculated. But,...
View Article10 Reasons why Banks Must be Closely Regulated
I’m a pretty laissez-faire kind of guy and I believe in a free-market economy. I don’t believe in government red tape choking the life out of business. But, I do believe banks must be firmly...
View Article3rd Anniversary of the Credit CARD Act
Last week quietly marked the 3rd anniversary of the passage of the Credit CARD Act of 2009. This law reformed the credit card industry and prohibited most unfair practices. New consumer protections...
View ArticleCyprus Banks Seize Customer Deposits
A financial catastrophe happened in the world today and most people hardly noticed. As part of a European bailout agreement, the country of Cyprus froze depositor’s bank accounts and will seize part...
View ArticleMy Take on High Frequency Trading
Just in case you haven’t watched the financial news lately, everyone is up in arms about High Frequency Trading. HFT is employed by financial firms with superfast computers, who can execute stock...
View ArticleMy Take on the Brexit
So, the votes are in and the dust has settled. The citizens of England have voted to leave the EU, by a very small margin of 52%. There are lots of messy details to sort out and the analysts on TV...
View ArticleThe Big Short Squeeze
I am absolutely loving the drama unfolding right now with GameStop and other highly-shorted stocks. The FED, SEC and White House are literally freaking out that a bunch of retail investors could band...
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