Equal Time For The Underdog!: Online web site builder, website software, homepage creator, personal ecommerce - ExactWebsites.: "
WEDNESDAY, DECEMBER 28, 2011
Online web site builder, website software, homepage creator, personal ecommerce - ExactWebsites.
Online web site builder, website software, homepage creator, personal ecommerce - ExactWebsites.: "VeriSign Secure Certified
With our VeriSign Secure Certified cart, your customers will be worry free when buying products from you.
Save $500 by not having to buy your own secure certificate
Your cart displays your VeriSign Logo on the checkout pages""
'via Blog this'
Wednesday, December 28, 2011
Monday, December 26, 2011
Defense Tech | The future of the Military, Law Enforcement and National Security
Defense Tech | The future of the Military, Law Enforcement and National Security: "Air Force will be sending a one-off copy of General Atomics Predator C Avenger UAV to Afghanistan where it would be tested in a combat environment.
The reports were based off an Air Force solicitation announcing its intention to buy the jet-powered drone and test out its ability to perform ISR missions and drop weapons downrange.
However, I revisited the solicitation last Friday and noticed that it was updated on Dec. 14 to say “cancelled.”"
Read more: http://defensetech.org/#ixzz1hfLbhqLq
Defense.org
'via Blog this'
The reports were based off an Air Force solicitation announcing its intention to buy the jet-powered drone and test out its ability to perform ISR missions and drop weapons downrange.
 |
| Courtesy DefenseTech.org |
However, I revisited the solicitation last Friday and noticed that it was updated on Dec. 14 to say “cancelled.”"
This procurement is designed for R&D only at this time.
She added later that day, “our understanding is that this procurement will be as a test asset.”
I contacted the Air Force on Monday and received an email today from spokesman, Lt. Col. John Haynes, confirming what Kasitz said:
One Predator C aircraft will be procured by the US Air Force for test and evaluation of the system’s performance characteristics only. It will be assigned as a test aircraft and operated by Air Force Materiel Command. There is no intention to deploy the aircraft in the war in Afghanistan at this time.
Read more: http://defensetech.org/#ixzz1hfLbhqLq
Defense.org
'via Blog this'
"Black Swan" Fund Creator Explains Why Central Planning Has Doomed Us All | ZeroHedge
"Black Swan" Fund Creator Explains Why Central Planning Has Doomed Us All | ZeroHedge: "the start of the federal government's other fire-suppression policy with the 1984 Continental Illinois "too big to fail" bank bailout. This was followed by Alan Greenspan's pronouncement immediately after the 1987 stock market crash that the Federal Reserve stood by with "readiness to serve as a source of liquidity to support the economy and financial system," which heralded the birth of the "Greenspan put." The Fed would no longer tolerate fires of any size.
From a forestry point of view, the lessons were learned. In 1995, the Federal Wildland Fire Management Policy stated, "Science has changed the way we think about wildland fire and the way we manage it. Wildland fire, as a critical natural process, must be reintroduced into the ecosystem.""
'via Blog this'
From a forestry point of view, the lessons were learned. In 1995, the Federal Wildland Fire Management Policy stated, "Science has changed the way we think about wildland fire and the way we manage it. Wildland fire, as a critical natural process, must be reintroduced into the ecosystem.""
'via Blog this'
Monday, December 19, 2011
ChaiDomains.com
ChaiDomains.com: "Tear down the walls that separate us, and rebuild what was once always ours. The limitations on Global Scale are here to reveal that we need to look to our own neighbhor and brother; as both a source of support, as well as someone who needs our help. Our collective fates are intertwined, and only with each others assistance can we thrive."
'via Blog this'
'via Blog this'
Sell-My-Domain.biz
Sell-My-Domain.biz: "understand that a visionary is by definition someone who is not particularly so focused on the existing paradigms along with all their trappings.
One would be forced to include some of the characteristics that make a visionary exactly who and what he is, is in part the absolute rejection of the current methods by which so many things get done. "
'via Blog this'
One would be forced to include some of the characteristics that make a visionary exactly who and what he is, is in part the absolute rejection of the current methods by which so many things get done. "
'via Blog this'
Thursday, December 15, 2011
CRM, the cloud, and the social enterprise - Salesforce.com
CRM, the cloud, and the social enterprise - Salesforce.com: "
Chatter
A secure, private social network for your business
View demo|Pricing
Radian6
Social media monitoring and enga"
'via Blog this'
Chatter
A secure, private social network for your business
View demo|Pricing
Radian6
Social media monitoring and enga"
'via Blog this'
The Writers Cafe.org: Some You Just Abandon A Blog.
The Writers Cafe.org: Some You Just Abandon A Blog.: "Some day some student might use these to complete their master's thesis on, "The early blogs before it became a way to try to make money.""
'via Blog this'
'via Blog this'
Lenco Mobile Marketing Services
Lenco Mobile Marketing Services: "Multimedia Solutions
Multimedia Solutions is a global mobile marketing company that provides its clients with the latest technology, allows the greatest reach to consumers and businesses alike with high-volume precision delivery of MMS marketing, and effectively uses the mobile channel to integrate all forms of communication in mobile marketing in South Africa and United Kingdom"
'via Blog this'
Multimedia Solutions is a global mobile marketing company that provides its clients with the latest technology, allows the greatest reach to consumers and businesses alike with high-volume precision delivery of MMS marketing, and effectively uses the mobile channel to integrate all forms of communication in mobile marketing in South Africa and United Kingdom"
'via Blog this'
Monday, December 12, 2011
Frum Find The Place To Find All Things Frum (Blog): Passaic Dating: ChaiDomains A Venture in the Making!: TheWritersCafe.org
Frum Find The Place To Find All Things Frum (Blog): Passaic Dating: ChaiDomains A Venture in the Making!: TheWritersCafe.org: "Passaic Dating: ChaiDomains A Venture in the Making!: TheWritersCafe.org
Passaic Dating: ChaiDomains A Venture in the Making!: TheWritersCafe.org: "ChaiDomains A Venture in the Making!: TheWritersCafe.org
ChaiDomains A Venture in the Making!: TheWritersCafe.org: "TheWritersCafe.org: "Well, I develop websites, sell web advertising and hosting and I invest in domains.”
Lets try to remember that a web professional basically lives for that question, especially when they are right there doing what they do best."
'via Blog this'
Passaic Dating: ChaiDomains A Venture in the Making!: TheWritersCafe.org: "ChaiDomains A Venture in the Making!: TheWritersCafe.org
ChaiDomains A Venture in the Making!: TheWritersCafe.org: "TheWritersCafe.org: "Well, I develop websites, sell web advertising and hosting and I invest in domains.”
Lets try to remember that a web professional basically lives for that question, especially when they are right there doing what they do best."
'via Blog this'
Sunday, November 13, 2011
At Penn State's stadium, profanity, scorn greet one father's protest - Washington Times
At Penn State's stadium, profanity, scorn greet one father's protest - Washington Times: "Their sign read: “Penn State pride is about more than football.” They wanted to do something, anything to help.
“This is the elephant in the room no one wants to talk about,” one woman said.
Down the street and to the left, hundreds supporters pressed around the statue of Paterno leading his team from the tunnel. Three bouquets of white roses sat beneath it. Pictures snapped and right index fingers thrust in the air in copies of Paterno’s pose."
'via Blog this'
“This is the elephant in the room no one wants to talk about,” one woman said.
Down the street and to the left, hundreds supporters pressed around the statue of Paterno leading his team from the tunnel. Three bouquets of white roses sat beneath it. Pictures snapped and right index fingers thrust in the air in copies of Paterno’s pose."
'via Blog this'
Sunday, October 30, 2011
Re: Canada's economy is suddenly the envy of the world
Re: Canada's economy is suddenly the envy of the world: "The banks are stable because, in part, they're more regulated. As the
U.S. and Europe loosened regulations on their financial industries
over the last 15 years, Canada refused to do so. The banks also
aren't
as leveraged as their U.S. or European peers.
There was no mortgage meltdown or subprime crisis in Canada. Banks
don't package mortgages and sell them to the private market, so they
need to be sure their borrowers can pay back the loans.
In Canada's concentrated banking system, five major banks dominate
the
market and regulators know each of the top bank executives
personally."
'via Blog this'
U.S. and Europe loosened regulations on their financial industries
over the last 15 years, Canada refused to do so. The banks also
aren't
as leveraged as their U.S. or European peers.
There was no mortgage meltdown or subprime crisis in Canada. Banks
don't package mortgages and sell them to the private market, so they
need to be sure their borrowers can pay back the loans.
In Canada's concentrated banking system, five major banks dominate
the
market and regulators know each of the top bank executives
personally."
'via Blog this'
Re: The Trillion-Dollar Bank Shakedown That Bodes Ill for Cities
Re: The Trillion-Dollar Bank Shakedown That Bodes Ill for Cities: "'t instantly figure out how to
market to minorities or would resist such efforts for fear of
inspiring imitators. Nor has the race discrimination argument for CRA
held up. A September 1999 study by Freddie Mac, for instance,
confirmed what previous Federal Reserve and Federal Deposit Insurance
Corporation studies had found: that African-Americans have
disproportionate levels of credit problems, which explains why they
have a harder time qualifying for mortgage money. As Freddie Mac
found, blacks with incomes of $65,000 to $75,000 a year have on
average worse credit records than whites making under $25,000.
The Federal Reserve Bank of Dallas had it right when it said—in a
paper pointedly entitled "Red Lining or Red Herring?"—"the CRA may not
be needed in today's financial environment to ensure all segments of
our economy enjoy access to credit." True, some households—those with
a history of credit problems, for instance, or those buying homes in
neighborhoods where re-selling them might be difficult—may not qualify
for loans at all, and some may have to pay higher interest rates, in
reflection of higher risk."
'via Blog this'
market to minorities or would resist such efforts for fear of
inspiring imitators. Nor has the race discrimination argument for CRA
held up. A September 1999 study by Freddie Mac, for instance,
confirmed what previous Federal Reserve and Federal Deposit Insurance
Corporation studies had found: that African-Americans have
disproportionate levels of credit problems, which explains why they
have a harder time qualifying for mortgage money. As Freddie Mac
found, blacks with incomes of $65,000 to $75,000 a year have on
average worse credit records than whites making under $25,000.
The Federal Reserve Bank of Dallas had it right when it said—in a
paper pointedly entitled "Red Lining or Red Herring?"—"the CRA may not
be needed in today's financial environment to ensure all segments of
our economy enjoy access to credit." True, some households—those with
a history of credit problems, for instance, or those buying homes in
neighborhoods where re-selling them might be difficult—may not qualify
for loans at all, and some may have to pay higher interest rates, in
reflection of higher risk."
'via Blog this'
Early 1980s recession - Wikipedia, the free encyclopedia
Early 1980s recession - Wikipedia, the free encyclopedia: "wake of the 1973 oil crisis and the 1979 energy crisis, stagflation began to afflict the economy of the United States. Unemployment had risen from 5.1% in January 1974 to a high of 9.0% in May 1975. Although it had gradually declined to 5.6% by May 1979, unemployment began rising again thereafter. It jumped sharply to 6.9% in April 1980 and to 7.5% in May 1980. A mild recession from January to July 1980 kept unemployment high, but despite economic recovery unemployment remained at historically high levels (about 7.5%) through the end of 1981.[5] Unemployment continued to grow through 1982, reaching 10% nationally, and reached a record peak of 25% in Rockford, Illinois.[6] Inflation, which had averaged 3.2% annually in the post-war period, had more than doubled after the 1973 oil shock to a 7.7% annual rate."
'via Blog this'
'via Blog this'
The Provocateur: Bank Deregulation and the Financial Meltdown
The Provocateur: Bank Deregulation and the Financial Meltdown: "the problem is not merely the regulation itself. I think it is dishonest partisanship of the highest order to proclaim that a company like Merrill Lynch can't also attempt to get into the business of mortgages. I think it is a mistake to call for putting this wall back up. First, if you did, you would create a mass sell off all over Wall Street as financial services firms would need sell of divisions to meet the new law. Second, you would create even more illiquidity at a time when liquidity is the order of the day. By putting the wall back up, the very institutions that you need to get back in the market would be forbidden.
The real villain here is not the deregulation matter itself, but the government's failure to figure out a new oversight framework to deal with the deregulation. Government watchdogs like the SEC, FDIC, Office of Banks and Real Estate, among dozens of government agencies were now responsible for all sorts of new institutions. "
'via Blog this'
The real villain here is not the deregulation matter itself, but the government's failure to figure out a new oversight framework to deal with the deregulation. Government watchdogs like the SEC, FDIC, Office of Banks and Real Estate, among dozens of government agencies were now responsible for all sorts of new institutions. "
'via Blog this'
The Provocateur: Bank Deregulation and the Financial Meltdown
The Provocateur: Bank Deregulation and the Financial Meltdown: "how did this act contribute to turning this mortgage crisis into a financial services crisis? If you were paying attention to my description of the act that answer should be obvious. Now, all sorts of financial institutions were free to take a position in mortgages, sub prime mortgages specifically. Merrill Lynch, for instance, bought up 4 sub prime mortgage companies in 2006. These sorts of mergers would have never been allowed prior to the act. The tragic flaw of this bill is that it exposed financial institutions everywhere to financial vehicles which they had no experience with. It wasn't merely that financial services companies were jumping into the hot market, sub prime, but that they were jumping into this hot market with little prior experience in the market.
Many analysts, in my opinion, mistakenly claim that the Merrill Lynch's of the world were buying mortgages they knew the underlying borrower couldn't pay. I don't think that's true at all."
'via Blog this'
Many analysts, in my opinion, mistakenly claim that the Merrill Lynch's of the world were buying mortgages they knew the underlying borrower couldn't pay. I don't think that's true at all."
'via Blog this'
Enron castoffs became pipeline empire - Houston Chronicle
Enron castoffs became pipeline empire - Houston Chronicle: "he late Ken Lay build the company into the multifaceted powerhouse called Enron, then left in 1996 when he was not promoted to succeed Lay as CEO.
A year later he joined Bill Morgan, another former Enron executive, and purchased a small pipeline business from Enron for $40 million.
It was not nearly as sexy as trading weather derivatives and broadband data capacity or building power plants overseas - activities that made Enron a stock market darling in the late 1990s.
But it was a solid, conservative business that - at scale - creates enormous cash flow.
Over the years Kinder Morgan grew through dozens of acquisitions and a smaller number of major project expansions.
Like a toll road
"We're not a complicated company to understand. We're just a gigantic toll road," Kinder once told the Chronicle, explaining why the pipeline company's fortunes don't rise and fall with oil and gas prices. "We just get paid a fee to move products, and we don't care what gets moved down the highway.""
'via Blog this'
A year later he joined Bill Morgan, another former Enron executive, and purchased a small pipeline business from Enron for $40 million.
It was not nearly as sexy as trading weather derivatives and broadband data capacity or building power plants overseas - activities that made Enron a stock market darling in the late 1990s.
But it was a solid, conservative business that - at scale - creates enormous cash flow.
Over the years Kinder Morgan grew through dozens of acquisitions and a smaller number of major project expansions.
Like a toll road
"We're not a complicated company to understand. We're just a gigantic toll road," Kinder once told the Chronicle, explaining why the pipeline company's fortunes don't rise and fall with oil and gas prices. "We just get paid a fee to move products, and we don't care what gets moved down the highway.""
'via Blog this'
Enron castoffs became pipeline empire - Houston Chronicle
Enron castoffs became pipeline empire - Houston Chronicle: "The loss marked the beginning of the end for the one-time energy giant as it began its spiral to a Dec. 2, 2001, bankruptcy filing, thousands of local layoffs, the collapse of the energy trading business and years of criminal and civil litigation.
On Oct. 16 a decade later, Rich Kinder's company, Kinder Morgan Inc., announced plans to acquire natural gas pipeline giant El Paso Corp. in a $21.1 billion deal that will make Kinder Morgan the fourth-largest energy-related business in the country behind oil giants Exxon Mobil Corp., Chevron Corp. and ConocoPhillips.
The deal may be the pinnacle of a 15-year journey that saw Kinder take a handful of unwanted pipelines from Enron and build them into a booming energy empire.
It took a combination of patience, conservative budgets and the skillful use of a once-esoteric business structure known as a master limited partnership."
'via Blog this'
On Oct. 16 a decade later, Rich Kinder's company, Kinder Morgan Inc., announced plans to acquire natural gas pipeline giant El Paso Corp. in a $21.1 billion deal that will make Kinder Morgan the fourth-largest energy-related business in the country behind oil giants Exxon Mobil Corp., Chevron Corp. and ConocoPhillips.
The deal may be the pinnacle of a 15-year journey that saw Kinder take a handful of unwanted pipelines from Enron and build them into a booming energy empire.
It took a combination of patience, conservative budgets and the skillful use of a once-esoteric business structure known as a master limited partnership."
'via Blog this'
2012 Candidates Target Costly Enron-Era Law Aimed At Thwarting Accounting Fraud | Fox News
2012 Candidates Target Costly Enron-Era Law Aimed At Thwarting Accounting Fraud | Fox News: "Former House Speaker Newt Gingrich and Rep. Michele Bachmann of Minnesota have both called for the outright repeal of Sarbanes-Oxley. And so, too, has Rep. Ron Paul, who has the strongest record on the issue: The self-declared libertarian from Texas was one of only three House lawmakers who voted against Sarbanes-Oxley back in 2002.
Estimates of the costs that Section 404 has imposed on American businesses have varied. In testimony before the House Financial Services Committee last month, J.W. Verret, a scholar at the conservative Mercatus Center at George Mason University, told lawmakers the Securities and Exchange Commission vastly underestimated how much Section 404(b) -- the part requiring outside audits -- was forcing firms to shell out. The agency's initial projection of $91,000 per company, he said, later gave way to a revised SEC estimate of $2.87 million."
'via Blog this'
Estimates of the costs that Section 404 has imposed on American businesses have varied. In testimony before the House Financial Services Committee last month, J.W. Verret, a scholar at the conservative Mercatus Center at George Mason University, told lawmakers the Securities and Exchange Commission vastly underestimated how much Section 404(b) -- the part requiring outside audits -- was forcing firms to shell out. The agency's initial projection of $91,000 per company, he said, later gave way to a revised SEC estimate of $2.87 million."
'via Blog this'
2012 Candidates Target Costly Enron-Era Law Aimed At Thwarting Accounting Fraud | Fox News
2012 Candidates Target Costly Enron-Era Law Aimed At Thwarting Accounting Fraud | Fox News: "Long seen as the law's most controversial provision, Section 404 requires public companies to include in their annual reports both the firm's own assessment of its "internal controls" and an outside auditor's assessment.
Now, in a campaign season where excessive regulation has emerged as an improbable yet potent issue on the stump, Sarbanes-Oxley and its legacy are drawing new scrutiny on the 2012 GOP presidential campaign trail.
And not just from Perry. Number 10 in the 59-point economic plan put forward by former Massachusetts Gov. Mitt Romney last month is a pledge that the candidate, if elected, “will seek to amend" Sarbanes-Oxley, to make compliance with it "less onerous" for mid-sized companies. While Romney did not mention Section 404 explicitly, there was no mistaking which provision he had in mind."
'via Blog this'
Now, in a campaign season where excessive regulation has emerged as an improbable yet potent issue on the stump, Sarbanes-Oxley and its legacy are drawing new scrutiny on the 2012 GOP presidential campaign trail.
And not just from Perry. Number 10 in the 59-point economic plan put forward by former Massachusetts Gov. Mitt Romney last month is a pledge that the candidate, if elected, “will seek to amend" Sarbanes-Oxley, to make compliance with it "less onerous" for mid-sized companies. While Romney did not mention Section 404 explicitly, there was no mistaking which provision he had in mind."
'via Blog this'
2012 Candidates Target Costly Enron-Era Law Aimed At Thwarting Accounting Fraud | Fox News
2012 Candidates Target Costly Enron-Era Law Aimed At Thwarting Accounting Fraud | Fox News: "he last of Perry's repeal targets was Section 404 of the Public Company Accounting Reform and Investor Protection Act, better known as Sarbanes-Oxley, or SOX for short. It was a landmark overhaul of the accounting and bookkeeping practices of publicly traded companies.
RELATED STORIES
Fox News Poll: GOP Primary Voters Propel Cain to Top of Pack
New Weekly Jobless Claims Hold Steady at 402,000; Economy Shows Modest 3rd Quarter Growth
Perry on 'Fox News Sunday': Submit Your Questions
FoxNews.com to Stream Candidates Forum on Education
RELATED VIDEO
Herman Cain's Rise to the Top, Part 1
GOP hopeful on new poll numbers, campaign strategy
RELATED VIDEO
Special Report Online: Ron Paul
GOP presidential candidate takes Center Seat
Enacted in the wake of the Enron and WorldCom scandals and the ensuing collapse of auditing giant Arthur Andersen, the measure was named for its co-sponsors -- Democratic Sen. Paul Sarbanes of Maryland and Republican Rep. Michael G. Oxley of Ohio -- and signed into law by President George W. Bush in July 2002."
'via Blog this'
RELATED STORIES
Fox News Poll: GOP Primary Voters Propel Cain to Top of Pack
New Weekly Jobless Claims Hold Steady at 402,000; Economy Shows Modest 3rd Quarter Growth
Perry on 'Fox News Sunday': Submit Your Questions
FoxNews.com to Stream Candidates Forum on Education
RELATED VIDEO
Herman Cain's Rise to the Top, Part 1
GOP hopeful on new poll numbers, campaign strategy
RELATED VIDEO
Special Report Online: Ron Paul
GOP presidential candidate takes Center Seat
Enacted in the wake of the Enron and WorldCom scandals and the ensuing collapse of auditing giant Arthur Andersen, the measure was named for its co-sponsors -- Democratic Sen. Paul Sarbanes of Maryland and Republican Rep. Michael G. Oxley of Ohio -- and signed into law by President George W. Bush in July 2002."
'via Blog this'
Ex-Enron Trader to Host Funder With Michelle Obama - Michelle Obama - Fox Nation
Ex-Enron Trader to Host Funder With Michelle Obama - Michelle Obama - Fox Nation: "By Julie Mason, Politico
An upcoming Houston fundraiser featuring first lady Michelle Obama at the home of a former Enron executive who is part of a movement to convert public pensions to 401(k)-style plans is angering some local Democrats.
John Arnold, a Houston billionaire and former Enron trader, is hosting the Michelle Obama event with his wife, Laura Arnold, at their Houston home on Nov. 1.
Arnold is part of an organization pushing to convert public pensions — including teachers, police, firefighters and others — to 401(k)-style plans. The effort launched in California but has plans to go nationwide, according to a story by Bloomberg. The story notes that Arnold is a libertarian and his wife a Democrat."
'via Blog this'
An upcoming Houston fundraiser featuring first lady Michelle Obama at the home of a former Enron executive who is part of a movement to convert public pensions to 401(k)-style plans is angering some local Democrats.
John Arnold, a Houston billionaire and former Enron trader, is hosting the Michelle Obama event with his wife, Laura Arnold, at their Houston home on Nov. 1.
Arnold is part of an organization pushing to convert public pensions — including teachers, police, firefighters and others — to 401(k)-style plans. The effort launched in California but has plans to go nationwide, according to a story by Bloomberg. The story notes that Arnold is a libertarian and his wife a Democrat."
'via Blog this'
10 Things the SEC Won't Tell You - SmartMoney.com
10 Things the SEC Won't Tell You - SmartMoney.com: "The collapse of energy giant Enron in 2001, the bankruptcy of Lehman Brothers in 2008 and Bernie Madoff's multi-billion-dollar Ponzi scheme in 2009.
ALSO SEE
10 Things Debt Collectors Won't Say
10 Things College Football Won't Say
10 Things Social Security Won't Tell You
To be fair, experts also point out that the agency faces a near-impossible job as the watchdog of Wall Street. Nonetheless, "it's also up to the SEC to manage that expectation," says Michael Josephson, former law professor and founder and president of the non-profit Josephson Institute of Ethics in Los Angeles, Calif. "It knows better than anyone what it can achieve."
Meanwhile, individual investors are learning to do their own due diligence when it comes to choosing brokers and advisers, says Seth Rabinowitz, partner at management consulting firm Silicon Associates. "For those who do feel protected, they are ill advised to feel so safe," he says. "The SEC regulates what companies disclose, but it often doesn't do a very good job.""
'via Blog this'
ALSO SEE
10 Things Debt Collectors Won't Say
10 Things College Football Won't Say
10 Things Social Security Won't Tell You
To be fair, experts also point out that the agency faces a near-impossible job as the watchdog of Wall Street. Nonetheless, "it's also up to the SEC to manage that expectation," says Michael Josephson, former law professor and founder and president of the non-profit Josephson Institute of Ethics in Los Angeles, Calif. "It knows better than anyone what it can achieve."
Meanwhile, individual investors are learning to do their own due diligence when it comes to choosing brokers and advisers, says Seth Rabinowitz, partner at management consulting firm Silicon Associates. "For those who do feel protected, they are ill advised to feel so safe," he says. "The SEC regulates what companies disclose, but it often doesn't do a very good job.""
'via Blog this'
How Deregulation Fueled the Financial Crisis :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website
How Deregulation Fueled the Financial Crisis :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website: "fitting and perhaps flagrant final act of eviscerating prudent regulation, the SEC ruled that investment banks may essentially determine their own net capital. The insanity of that allowance is only surpassed by the fact that the SEC allowed the change because it was simultaneously demanding greater scrutiny of the books and records of what were the holding companies of investment banks and all their affiliates.
The tragedy is that the SEC never used its new powers to examine the banks. The idea was that Consolidated Supervised Entities (CSEs) could use internal models to determine risk and compliance with net capital requirements. In reality, what the investment banks did was essentially re-cast hybrid capital instruments, subordinated debt, deferred tax returns and securities with no ready market into “healthy” capital assets against which they reduced reserve requirements for net capital calculations and increased their leverage to as much as 30:1."
'via Blog this'
The tragedy is that the SEC never used its new powers to examine the banks. The idea was that Consolidated Supervised Entities (CSEs) could use internal models to determine risk and compliance with net capital requirements. In reality, what the investment banks did was essentially re-cast hybrid capital instruments, subordinated debt, deferred tax returns and securities with no ready market into “healthy” capital assets against which they reduced reserve requirements for net capital calculations and increased their leverage to as much as 30:1."
'via Blog this'
How much blame can we put on Reagan's deregulation of the banking industry for our current economic failures ? - Yahoo! Answers
How much blame can we put on Reagan's deregulation of the banking industry for our current economic failures ? - Yahoo! Answers: "His policies (Reaganomics) began the deregulation of the banking industry simply for selfish reasons.
If you deny that the Republicans were not responsible for this, try checking out the Gramm-Leach-Bliley Act of 1999. Yes that Phil Gramm, McCain's campaign co-chair who earlier this summer called the American public "a nation of whiners"). It pretty much repealed key provisions of the Glass-Steagal Act of 1933 which set up the Federal Deposit Insurance Corporation (FDIC)."
'via Blog this'
If you deny that the Republicans were not responsible for this, try checking out the Gramm-Leach-Bliley Act of 1999. Yes that Phil Gramm, McCain's campaign co-chair who earlier this summer called the American public "a nation of whiners"). It pretty much repealed key provisions of the Glass-Steagal Act of 1933 which set up the Federal Deposit Insurance Corporation (FDIC)."
'via Blog this'
The Free Market: The Sad Legacy of Ronald Reagan
The Free Market: The Sad Legacy of Ronald Reagan: "Reagan administration has been the most protectionist since Herbert Hoover's. The portion of imports under restriction has doubled since 1980. Quotas and so-called voluntary restraints have been imposed on a host of products, from computer chips to automobiles. Ominously, Reagan has adopted the bogus fair-trade/free-trade dichotomy, and he was eager to sign the big trade bill, which tilts the trade laws even further toward protectionism.
Results
Reagan's fans argue that he has changed the terms of public-policy debate, that no one today dares propose big spending programs. I contend that the alleged spending-shyness of politicians is not the result of an ideological sea-change, but rather of their constituents' fiscal fright brought about by $250 billion Reagan budget deficits. If the deficit ever shrinks, the demand for spending will resume."
'via Blog this'
Results
Reagan's fans argue that he has changed the terms of public-policy debate, that no one today dares propose big spending programs. I contend that the alleged spending-shyness of politicians is not the result of an ideological sea-change, but rather of their constituents' fiscal fright brought about by $250 billion Reagan budget deficits. If the deficit ever shrinks, the demand for spending will resume."
'via Blog this'
The Free Market: The Sad Legacy of Ronald Reagan
The Free Market: The Sad Legacy of Ronald Reagan: "Reagan promised to abolish along with the Department of Energy, has more than doubled to $22.7 billion, Social Security spending has risen from $179 billion in 1981 to $269 billion in 1986. The price of farm programs went from $21.4 billion in 1981 to $51.4 billion in 1987, a 140% increase. And this doesn't count the recently signed $4 billion "drought-relief" measure. Medicare spending in 1981 was $43.5 billion; in 1987 it hit $80 billion. Federal entitlements cost $197.1 billion in 1981—and $477 billion in 1987.
Foreign aid has also risen, from $10 billion to $22 billion. Every year, Reagan asked for more foreign-aid money than the Congress was willing to spend. He also pushed through Congress an $8.4 billion increase in the U.S. "contribution" to the International Monetary Fund."
'via Blog this'
Foreign aid has also risen, from $10 billion to $22 billion. Every year, Reagan asked for more foreign-aid money than the Congress was willing to spend. He also pushed through Congress an $8.4 billion increase in the U.S. "contribution" to the International Monetary Fund."
'via Blog this'
The Free Market: The Sad Legacy of Ronald Reagan
The Free Market: The Sad Legacy of Ronald Reagan: "Great Communicator to reverse the growth of Leviathan and inaugurate a new era of liberty and free markets. Reagan himself said, "It is time to check and reverse the growth of government."
Yet after nearly eight years of Reaganism, the clamor for more government intervention in the economy was so formidable that Reagan abandoned the free-market position and acquiesced in further crippling of the economy and our liberties. In fact, the number of free-market achievements by the administration are so few that they can be counted on one hand—with fingers left over.
Let's look at the record:
"
'via Blog this'
Yet after nearly eight years of Reaganism, the clamor for more government intervention in the economy was so formidable that Reagan abandoned the free-market position and acquiesced in further crippling of the economy and our liberties. In fact, the number of free-market achievements by the administration are so few that they can be counted on one hand—with fingers left over.
Let's look at the record:
"
'via Blog this'
How Deregulation Fueled the Financial Crisis :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website
How Deregulation Fueled the Financial Crisis :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website: "Authorized a capital assistance program - the “Net Worth Certificate Program” - for dangerously undercapitalized banks, under which the Federal Savings and Loan Insurance Corp . (FSLIC) and the FDIC would purchase capital instruments called “Net Worth Certificates” from savings institutions with net worth/asset ratios of less than 3.0%, and would theoretically later redeem the certificates as these shaky banks regained financial health.
And, most frighteningly, raised the allowable ceiling on direct investments by savings institutions in nonresidential real estate from 20% to 40% of assets.
The history of S&L greed and fraud - which resulted from brokered deposits and deregulation - wasn't forgotten by legislators. But it was steamrolled by bankers pursuing an even greater unshackling of the regulations that constrained their ambitions."
'via Blog this'
And, most frighteningly, raised the allowable ceiling on direct investments by savings institutions in nonresidential real estate from 20% to 40% of assets.
The history of S&L greed and fraud - which resulted from brokered deposits and deregulation - wasn't forgotten by legislators. But it was steamrolled by bankers pursuing an even greater unshackling of the regulations that constrained their ambitions."
'via Blog this'
How Deregulation Fueled the Financial Crisis :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website
How Deregulation Fueled the Financial Crisis :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website: "Ronald Reagan was elected and grabbed the conservative mantle. A year later, the shock troops of the heralded Reagan Revolution launched their attack and embarked on a massive, systematic de-regulatory campaign. President Reagan's first treasury secretary, former Merrill Lynch & Co. Chief Executive Officer Donald T. Regan , became chairman of the Depository Institutions Deregulation Committee.
In a burst of deregulatory bravado in 1982, Treasury Secretary Regan ushered through the Garn-St. Germain Depository Institutions Act . Key provisions of the Act ultimately coalesced with Treasury Secretary Regan's protection of the lucrative “ brokered deposits ” business, in which Merrill was a major player, and paved the way for the future collapse of the savings and loan industry.
Some of the provisions in that 1982 Act would later be blamed for thousands of bank failures. The provisions permitted the following:
Allowed savings and loans to make commercial, corporate, business or agricultural loans of up to 10% of their assets."
'via Blog this'
In a burst of deregulatory bravado in 1982, Treasury Secretary Regan ushered through the Garn-St. Germain Depository Institutions Act . Key provisions of the Act ultimately coalesced with Treasury Secretary Regan's protection of the lucrative “ brokered deposits ” business, in which Merrill was a major player, and paved the way for the future collapse of the savings and loan industry.
Some of the provisions in that 1982 Act would later be blamed for thousands of bank failures. The provisions permitted the following:
Allowed savings and loans to make commercial, corporate, business or agricultural loans of up to 10% of their assets."
'via Blog this'
How Deregulation Fueled the Financial Crisis :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website
How Deregulation Fueled the Financial Crisis :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website: "Lowered the mandatory reserve requirements banks keep in non-interest bearing accounts at U.S. Federal Reserve banks.
Established a five-member committee, the Depository Institutions Deregulation Committee , to phase out federal interest rate ceilings on deposit accounts over a six-year period.
Increased Federal Deposit Insurance Corp . (FDIC) coverage from $40,000 to $100,000.
Allowed depository institutions, including savings and loans and other thrift institutions, access to the Federal Reserve Discount Window for credit advances.
And pre-empted state usury laws that limited the rates lenders could charge on residential mortgage loans.
"
'via Blog this'
Established a five-member committee, the Depository Institutions Deregulation Committee , to phase out federal interest rate ceilings on deposit accounts over a six-year period.
Increased Federal Deposit Insurance Corp . (FDIC) coverage from $40,000 to $100,000.
Allowed depository institutions, including savings and loans and other thrift institutions, access to the Federal Reserve Discount Window for credit advances.
And pre-empted state usury laws that limited the rates lenders could charge on residential mortgage loans.
"
'via Blog this'
How Deregulation Fueled the Financial Crisis :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website
How Deregulation Fueled the Financial Crisis :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website: "Just how did we get here?
Wall Street bankers, their exorbitantly well-paid lobbying army of former congressmen and former regulators, their greatly contributed-to sitting legislators and, most egregiously, the self-righteous and still mega-rich “former” Street executives have systematically eviscerated the muscle and bones from the regulatory bodies charged with protecting us from banks' self-destructive greed. An inordinately powerful group of executive insiders from the once-deeply respected House of Goldman Sachs ( GS ) have served as U.S. Treasury secretaries and in innumerable other administrative capacities.
A Reflection on Reform
The Depository Institutions Deregulation and Monetary Control Act of 1980 , signed into law by President Jimmy Carter , was the first major reform of the U.S. banking system since the Great Depression.
While touted as a boon to consumers, the law was actually a gold mine for bankers. Among other requirements and banker “gifts” the 1980 Act's provisions:"
'via Blog this'
Wall Street bankers, their exorbitantly well-paid lobbying army of former congressmen and former regulators, their greatly contributed-to sitting legislators and, most egregiously, the self-righteous and still mega-rich “former” Street executives have systematically eviscerated the muscle and bones from the regulatory bodies charged with protecting us from banks' self-destructive greed. An inordinately powerful group of executive insiders from the once-deeply respected House of Goldman Sachs ( GS ) have served as U.S. Treasury secretaries and in innumerable other administrative capacities.
A Reflection on Reform
The Depository Institutions Deregulation and Monetary Control Act of 1980 , signed into law by President Jimmy Carter , was the first major reform of the U.S. banking system since the Great Depression.
While touted as a boon to consumers, the law was actually a gold mine for bankers. Among other requirements and banker “gifts” the 1980 Act's provisions:"
'via Blog this'
OT - Reagan's deregulation did cause the S&L crisis in the 80's
OT - Reagan's deregulation did cause the S&L crisis in the 80's: "Steps Taken to Solve the S&L Crisis
- Passed the Financial Reform, Recovery and Enforcement Act (FIRREA)
- Abolished the independence of the S&L industry.
- Abolished the Federal Home Loan Bank Board which gad been in charge
of supervising S&L's
- New agency Office of Thrift Supervision (OTS) created as part of the
executive branch.
- Changed Federal Insurance.
- FSLIC eliminated and responsibilities transferred to FDIC.
- T wo separate funds were created within the FDIC:
- SAIF - Savings and Loan Insurance Fund - for all savings type
banks.
- BIF - Bank Insurance Fund - for commercial banks.
- Resolution Trust Company (RTF) created to dispose of failed thrifts.
"
'via Blog this'
- Passed the Financial Reform, Recovery and Enforcement Act (FIRREA)
- Abolished the independence of the S&L industry.
- Abolished the Federal Home Loan Bank Board which gad been in charge
of supervising S&L's
- New agency Office of Thrift Supervision (OTS) created as part of the
executive branch.
- Changed Federal Insurance.
- FSLIC eliminated and responsibilities transferred to FDIC.
- T wo separate funds were created within the FDIC:
- SAIF - Savings and Loan Insurance Fund - for all savings type
banks.
- BIF - Bank Insurance Fund - for commercial banks.
- Resolution Trust Company (RTF) created to dispose of failed thrifts.
"
'via Blog this'
OT - Reagan's deregulation did cause the S&L crisis in the 80's
OT - Reagan's deregulation did cause the S&L crisis in the 80's: "In 1980 the US had 4,600 thrifts, by 1988 mergers and bankruptcies
left 3000. By the mid 1990's less than 2000 survived.
- The S&L crisis cost about 600 Billion dollars in "bailouts." This is
1500 dollars from every man woman and child in the US.
- In summary, the S&L crisis was caused by deregulation which led to
high interest rates that then collapsed. Other causes included
inadequate capital and defrauding shorthanded government regulatory
agencies (less regulators and inspectors). "
'via Blog this'
left 3000. By the mid 1990's less than 2000 survived.
- The S&L crisis cost about 600 Billion dollars in "bailouts." This is
1500 dollars from every man woman and child in the US.
- In summary, the S&L crisis was caused by deregulation which led to
high interest rates that then collapsed. Other causes included
inadequate capital and defrauding shorthanded government regulatory
agencies (less regulators and inspectors). "
'via Blog this'
OT - Reagan's deregulation did cause the S&L crisis in the 80's
OT - Reagan's deregulation did cause the S&L crisis in the 80's: "The Effect of Deregulation - The S&L Crisis
- Deregulation practically eliminated the distinction between
commercial and savings banks.
- Deregulation caused a rapid growth of savings banks and S&L's that
now made all types of non homeowner related loans. Now that S%L's could
tap into the huge profit centers of commercial real estate investments
and credit card issuing many entrepreneurs looked to the loosely
regulated S&L's as a profit making center.
- As the eighties wore on the economy appeared to grow. Interest rates
continued to go up as well as real estate speculation. The real estate
market was in what is known as a "boom" mode. Many S&L's took advantage
of the lack of supervision and regulations to make highly speculative
investments, in many cases loaning more money then they really should.
- When the real estate market crashed, and it did so in dramatic
fashion, the S&L's were crushed. They now owned properties that they
had paid enormous amounts of money for but weren't worth a fraction of
what they paid. Many went bankrupt, losing their depositors money. This
was known as the S&L Crisis. "
'via Blog this'
- Deregulation practically eliminated the distinction between
commercial and savings banks.
- Deregulation caused a rapid growth of savings banks and S&L's that
now made all types of non homeowner related loans. Now that S%L's could
tap into the huge profit centers of commercial real estate investments
and credit card issuing many entrepreneurs looked to the loosely
regulated S&L's as a profit making center.
- As the eighties wore on the economy appeared to grow. Interest rates
continued to go up as well as real estate speculation. The real estate
market was in what is known as a "boom" mode. Many S&L's took advantage
of the lack of supervision and regulations to make highly speculative
investments, in many cases loaning more money then they really should.
- When the real estate market crashed, and it did so in dramatic
fashion, the S&L's were crushed. They now owned properties that they
had paid enormous amounts of money for but weren't worth a fraction of
what they paid. Many went bankrupt, losing their depositors money. This
was known as the S&L Crisis. "
'via Blog this'
OT - Reagan's deregulation did cause the S&L crisis in the 80's
OT - Reagan's deregulation did cause the S&L crisis in the 80's: "The Reagan Deregulation Program
- Federal requirements that set maximum interest rates on savings
accounts were phased out. This eliminated the advantage previously held
by savings banks.
- Checking accounts could now be offered by any type of bank.
- All depository institution could now borrow from the fed in time of
need, a privilege that had been reserved for commercial banks. In
return all banks had to place a certain % of their deposits in the fed.
This gave the FED more control and stabilized state banks.
- Garn - St. Germain Act of 1982 allowed savings banks to now issue
credit cards, make non residential real estate loans and commercial
loans; actions previously only allowed to commercial banks. "
'via Blog this'
- Federal requirements that set maximum interest rates on savings
accounts were phased out. This eliminated the advantage previously held
by savings banks.
- Checking accounts could now be offered by any type of bank.
- All depository institution could now borrow from the fed in time of
need, a privilege that had been reserved for commercial banks. In
return all banks had to place a certain % of their deposits in the fed.
This gave the FED more control and stabilized state banks.
- Garn - St. Germain Act of 1982 allowed savings banks to now issue
credit cards, make non residential real estate loans and commercial
loans; actions previously only allowed to commercial banks. "
'via Blog this'
OT - Reagan's deregulation did cause the S&L crisis in the 80's
OT - Reagan's deregulation did cause the S&L crisis in the 80's: "many people that feel that the government should remove much
of the regulations placed on banks and allow them to compete on the
open market. Regulations, they feel, destroy the ability of banks to
make money, raises costs, lowers interest rates paid to depositors and
is not generally not good for the bank or the consumer. This was the
belief of the Carter and Reagan Administration's in the late 70's and
early 80's. The result of this rather laissez faire approach was a
period of deregulation. What is meant by deregulation is the removal
of, or lessening of government regulations restricting an industry.
Deregulation has effected many industries in recent years, including
banking. "
'via Blog this'
of the regulations placed on banks and allow them to compete on the
open market. Regulations, they feel, destroy the ability of banks to
make money, raises costs, lowers interest rates paid to depositors and
is not generally not good for the bank or the consumer. This was the
belief of the Carter and Reagan Administration's in the late 70's and
early 80's. The result of this rather laissez faire approach was a
period of deregulation. What is meant by deregulation is the removal
of, or lessening of government regulations restricting an industry.
Deregulation has effected many industries in recent years, including
banking. "
'via Blog this'
Absolute Power Corrupts Absolutely
People who have a sophisticated world view understand that the forces that control the day to day operations of the world, are not readily discernable. As citizens in a democratic society we understand a great deal about the political process by which changes get made. What we do not truly understand, is how there are forces and powers that exercise a great deal of control over the entire political system. Or perhaps, those of us who realize that the actions of the government particularly in their role of taxation and commercial and trade regulations are able to effect what may collectively be called Big Business in a great way
The most perfect example of this is the current state of affairs with regard to United States economy.
In the autumn of 1929, a frenzied decade of stock speculation came to a dramatic conclusion when companies on the New York Stock Exchange lost roughly 40 percent of their value in a two-month period. At the time, only two percent of Americans held equity positions in public companies.
So why did the banks collapse?
Because the mostly unregulated American banks used their uninsured deposits on equity bets in the stock market. When share prices collapsed, the savings of depositors evaporated. By 1932, one-fourth of American banks no longer existed, and nine million Americans had lost every dime. During the Great Depression, national unemployment reached 26 percent.
Financial Services Modernization Act of 1999 would do away with restrictions on the integration of banking, insurance and stock trading imposed by the Glass-Steagall Act of 1933, one of the central pillars of Roosevelt's New Deal. Under the old law, banks, brokerages and insurance companies were effectively barred from entering each others' industries, and investment banking and commercial banking were separated.
The certain result of repeal of Glass-Steagall will be a wave of mergers surpassing even the colossal combinations of the past several years. The Wall Street Journal wrote, "With the stroke of the president's pen, investment firms like Merrill Lynch & Co. and banks like Bank of America Corp., are expected to be on the prowl for acquisitions.
Now before we ask the loaded question of, Why was this done? Let's first make sure we understand, what was done:
What this law did was break the figurative wall between banks, brokers, insurance companies and other financial services companies. The Glass Steagall Act, among many things, separated all sorts of financial services and placed careful limits on what sorts of financial services anyone company can perform.
The Glass-Steagall Act of 1933 established the Federal Deposit Insurance Corporation (FDIC) in the United States and included banking reforms, some of which were designed to control speculation.[citation needed] Some provisions such as Regulation Q that allowed the Federal Reserve to regulate interest rates in savings accounts were repealed by the Depository Institutions Deregulation and Monetary Control Act of 1980.
Provisions that prohibit a bank holding company from owning other financial companies were repealed on November 12, 1999
Searches related to deregulation of banks
deregulation of banks wiki
deregulation of banks reagan
financial services modernization act of 1999
deregulation of banks history
deregulation of banks bush
deregulation of financial markets
phil gramm deregulation of banks
ronald reagan deregulation of banks
Subscribe to:
Posts (Atom)