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Another Fed Chair Genius.
Federal Reserve Chairman Ben Bernanke has steadied Wall Street by telling Congress the recession might end this year. Are we crazy ? why in the world would anyone care what the Fed chairman predicts. He doesnt know , the economists dont know, the money managers dont know, CNBC doesnt know, Kramer doesnt know -and believe it or not -I dont know. But what I do know is that there is still too much risk and uncertainty in this market. It may go up and a recession may end and the Cubs may win the world series but I am not willing to bet that...
read moremore Lawyers waste more taxpayer money. Why no call to limit legal fees?
Fannie Mae will hire the law firm of Covington and Burlington to investigate its own lobbying. Putting aside the absurdity of investigating oneself I would like to focus on the cost of the investigation and on the broken skewed system of legal fees. Assuming $450-500 per hour billing- do you have any idea how much this will cost. probably close to a million. It of course ends up costing the taxpayer. lawyers make money, Fannie makes money lawyers, taxpayers lose. Why don’t they use government counsel which would be a fraction...
read moreObama the money manager
Doyou really think Obama ( or any politican) understands all the various economic concepts ? When was the last time you met a lawyer who understood economics or business. Much less a Law professor. All of a sudden because millions of people voted for him he knows what’s best for the economy. Would you let a Harvard constitutional law professor be your money manager ? of course not- Well, – too bad. He is your money manager and he will be your money manager for the next four years. Hopefully he will have better returns...
read moreSteroids vs Head Injuries .. Questions no answers..
Why are NFL players allowed to play a violent game which is know to cause permanant damage to themselves over the long term. But, baseball players can not take steroids… which is more damaging…. just as question.
read morePelosi to Italy- who pays for her flight ???
Nancy Pelosi who has been screaming together with the rest of the politicians about wasting capital decided to take a trip to Italy. I have several problems with that and how it is completely inconsistent to her positions on CEOs.. 1) Can anyone identify this type of plane – does not seem to be military- expensive to fly.. see photo ( update: seems to be airforce 2) how much does this cost taxpayers…. ? she complains about taxpayer money waste and she can go on taxpayer money to Italy...
read moreSatyam Fraud -Indian Enron -and preventing future Fraud
Well no one can say that there was some small time auditing firm that got fooled. It just goes to prove the point which I really feel has not been addressed by all the various accounting frauds and alleged solutions. The chain is only as strong as the weakest link. Or in this case obviously manufactured bank statements or similar. when will we learn ? There is a potential solution but it would actually decrease fees to lawyers, accounting firms and auditing firm over the long run…
read moreRepost from 2007 Facebook Insanity
Facebook/Microsoft is it the Free Advertising or just Insanity. October 25, 2007 by admin. Today microsoft announced it was paying $240 million for less then a 2% stake in Facebook. This has to be the best deal that Google did not do. What does Microsoft get for this investment ? A small piece of Facebook’s advertising potential. This is mind boggling ( or mind bloggling in today’s world) . What was Microsoft thinking. Well, I know what they were thinking- we can’t beat Google so let’s buy a social network with...
read moreMadoff Stock offering
If Madoff had invested all his 50 billion into a asset management company micro stock at 1 penny (lets call it Madoff Capital Inc corp and we will give it a ticker of MACG) and the early investors brought at the price. Stock goes up- because people love Madoof. think he can build a great firm. MACG stock soars.- the early investors sell at 1 dollar- make a fortune. Then it turns out that Madoff is not really so great. Stock drops- now worthless. Later people lose their savings. Ponzi Scheme ? or just the Stock Market...
read more2008 The year of the Ponzi Schemes
Many of the major financial meltdowns are no differnet then the 50 billion scheme towards the end of the year. – Early investors make money late ones get burned. Of course the lawyers always make money. But Ponzi schemes continue on a regular basis for everyday people. We call it something else but it’s the same concept. So Ooma phone service, rebates and any other company that charges low prices to build market share-are no different. Basically the early consumers get good deals and the later ones end up holding the bag.
read moreBootstrapper Early Stage Summit.
I sat on a panel at the very nicely done newly renamed Bootstrapper Summit we looked at several companies. They were ( in no particular order) Encoding.comwhich I will leave Techcrunch to explain what it does http://www.techcrunchit.com/2008/06/26/encodingcom-relaunches-as-saas-video-encoding-platform/ Safeguard Guarantee – which pitches itself as ” an insurance company for marriage” – my take: it’s a nice concept and has a good chance of success. That being said- it is essentially a forced saving plan for...
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