Prudent Man CFA

Wall Street Breakfast: Must-Know News

Consumer Confidence? Why would anyone be confident in the economy, which is only our fifth worst since the end of WWII, when the, Fed Administration, Congress and especially Obama all tell everyone it is going to get worse? In the previous recessions the government pretty much kept their mouths shut and did their job instead of being much too vocal

Why are all the Fed members talking so much. In my fifty years as a professional investor I never heard so much said by people who proved they know so little. If all these rear-mirror economists, who are behind the curve, would spend their time doing some analysis instead of brushing up their resumes they may have seen the problem with credit years ago. Because the non-discounting stock markets kept going up all these people were just Pollyandas.

Whey is Obama and Congress so vocal? These Socialists see and opportunity in the false "worse receission since the Great Depression, and I lived in that time that was exacerbated to unnecessarily last ten years, they can make the greatest theft of taxpayer money in history. As we all know, those who have the money have the control.

If the Fed Congress and the Administration would have said that the Free Market will work things out so property will revert to their rightful owner this recession would be over. The promise of bailing out loser at the cost of winners is very far from Free Market Capitalism as it is Socialist Capitalism. Are problems started decades ago and the Fed and Congress could very easily have reighned it in with the laws on the books.

I think this is the best time for rational investors support and end encourage Congressional Term Limits.

ETFs Defied Stereotypes in 2008

Who is auditing that the ETF owns what is says it owns?

Too many issues that no one is researching. Will it take a sponsor to collapse to wake some folks up? Madoff worked his scam for at a minimum of 16 years and only got caught when the money coming in was less than that going out or he would still be in business.

I learned 50 years ago that the NYSE and its member were a bunch of thugs being overtaken in magnitude by NASDQ. I always invest with the idea that some is trying to screw me. Since Levitt's 1998 I thought the SEC would do something about off balance sheet accounting but the Wall Street/Congress conspiracy continues.

Time for Congress Term Limits.

SEC Shorting Restrictions: Are Some Banks Being Set Up?

What is interesting is that ten of the nineteen or 53% are Foreign Banks!

Then you have the GSE's so actually 60% of the Commercial Banks protected by The SEC are controlled Foreign Bank shareholders.

How blatantly bias can the SEC be? If they did their job for the past ten years instead of being controlled by the "Street", which actually they always have been but not so blatantly, none of this would be necessary.

For your readers who are not aware of this, the Federal Reserve Board does not examine banks. The Comptroller of the Currency (Treasury), FDIC (which is a government corporation financed by bank insurance premiums, and the various state regulators. So when you see the media and politicians complaining about the Fed's audit of banks (banks do have "independent" auditors, which is a farce) they patently do not know of what they speak.