Boondoggle brokers conferences cancelled

As a former mutual fund portfolio manager I can tell you that one of the sources of (potential) corruption within the financial industry is the annual boondoggle conferences that major brokerage houses host.   These conferences are sold to the institutional...

Executive compensation caps

Happy Wednesday everyone! First of all, thanks for reading. I hope that you are still enjoying the blog. Today’s post is about President Barack Obama’s plan to cap executive pay at firms that receive Federal government assistance under the TARP. From the...

New energy policy

Good afternoon, President Barack Obama spent a goodly portion of his week on energy policy. Details of his proposal are as follows: Obama believes that his plan will create up to 460,000 jobs Over the long-term he hopes to create millions of jobs by investing $150...

Really gross domestic product

Happy Friday everyone! I hope that this post finds each of you well. Today’s message is about the Fourth Quarter U.S. Gross Domestic Product number. In case you had not heard, the economy contracted at an annualized 3.8% rate. However, and this is the BIG...

Underfunded SEC

The head of enforcement at the Securities and Exchange Commission (SEC), Linda Thomsen, testified before Congress today about her group’s handling of the Bernard Madoff Ponzi-scheme scandal. Particularly noteworthy is her having said, “While we appreciate...