04 Jan 2017

Why Obama Intentionally Failed to Reform Wall Street

        As President Obama leaves office this month after two terms, people should rightfully assess his achievements, especially those related to financial reform after the largest recession since the Great Depression. But for those who take the time, Obama’s financial reform legacy is non-existent. He had a

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24 Nov 2016

Can “Fake” News Get Injected Into Financial Journalism?

[sgmb id=”2″] A recent study conducted by Stanford University’s Graduate School of Education found that students could not differentiate between “fake” news, defined as sponsored content on web sites, from real news prepared by attributable journalistic sources and legitimate news outlets. Based on their study of over 7,800 middle school,

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17 Nov 2016

How Bannon Capitalized on Unpunished Housing Fraud and Helped Trump Win

[sgmb id=”2″] In an earlier post on this site, the case was made that the American public was outraged that no one went to jail for the systematic housing fraud that happened starting in 2005 and precipitated the worst recession since the Great Depression. The resulting recession wiped out over

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11 Nov 2016

DNC Finally Starts Its Long Overdue Effort To Clean House

[sgmb id=”2″] Today’s news has the following long overdue announcement from the Democratic National Committee: “Democrats have alternated between internal finger-pointing and uneasy soul searching after an intensely rocky year. The painful 2016 cycle capped eight years under President Obama that saw the party lose more Senate, House, Governor and

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26 May 2016

Sanders vs. Trump: Could This Be the Debate of the Century?

[sgmb id=”2″]Democratic Socialist Bernie Sanders and Republican Capitalist Donald Trump have tentatively agreed to a debate before the June 7, 2016 primary in California. If so, the event would be an uneven intellectual, bare-knuckles debate about a range of critical issues ranging from the failures of unregulated capitalism, income inequality,

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24 May 2016

No Chairs Thrown By Sanders’ Supporters: Snopes

[sgmb id=”2″]As an earlier article on this web site said, there were no chairs thrown at the Bernie Sander Democratic convention in Nevada. The media did a poor job of verifying an allegation by a second-hand blogger that chairs were thrown, but the political media never did their basic job

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22 May 2016

Time for Outsiders To Emerge in the Financial Services Industry

[sgmb id=”2″]Being a political outsider has captured the attention of the American electorate in the last decade or so and is now been credited with generating a fundamental re-assessment of the national political establishment.  Now, it’s time for outsiders to emerge in the financial services industry. Why? Simply because the “financial services industry,” a

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19 May 2016

The Mystery of the Flying Chair: A Bad Day For Journalism

[sgmb id=”1″]It is easier to steal a canoe than a pack of gum and so it was in Nevada this week when the Nevada Democratic Party railroaded the Bernie Sander’s campaign by ignoring a floor debate and unilaterally declaring a vote and more delegates to Hillary Clinton. The disputed result produced a vocal

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18 Apr 2016

Bad News for Wealth Managers: Top 5 Fastest Growing Jobs Pay Less Than $25,000

Every financial advisor dreams of a future when their expanding practice includes a large number of wealthy, retiring clients having portfolios north of $500,000. But it’s time for a reality check. That is not going to happen because more new  jobs don’t pay much and worse, even people with 401(k)s

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12 Apr 2016

The Average Investor’s Guide to the New DOL Fiduciary Regulations

The U.S. Department of Labor (DOL) has done a yeoman’s job of tentatively passing new a new set of regulations that will benefit individual investors from the conflicts-of-interest that are too common in the financial advisor business. But in order to get the revolutionary new regulations passed, the DOL had

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