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Anwar Bhamla

Anwar Bhamla
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  • Sen. Rand Paul (R, Ky.) admits his recently introduced budget-cut legislation may seem extreme to some, but he sees axing $500B in spending in a single year as 'a necessary first step toward ending our fiscal crisis.' (Read Paul's WSJ op-ed)  [View news story]
    Fair enough.. For me Society is the country I live in, to whose government, I pay taxes to and to whom I owe my allegiance. I do not want to live in a society where my countrymen starve while food is plentiful, which prides itself on the best healthcare in the world but denies it to those that cannot afford it and in which the old are left to suffer without societal support. These are necessities of a civil society not any kind of benevolence. I would like to fantasize that these necessities can be provided by private not for profit entities like United Way. We all know this is not going to happen. Which leaves the government. Is it inefficient? Yes! Is there abuse? Yes! I am willing to listen to a reasonable counter proposal.

    If we agree that these are necessary requirements of a civil society, who should pay for it? All of us and as Ben Franklin would have put it, the intellectual elite that benefits most from a well functioning civil society should be willing to pay their fair share (which in dollar and % terms will be higher than the average contribution.)
    Feb 7 02:31 PM | 1 Like Like |Link to Comment
  • Sen. Rand Paul (R, Ky.) admits his recently introduced budget-cut legislation may seem extreme to some, but he sees axing $500B in spending in a single year as 'a necessary first step toward ending our fiscal crisis.' (Read Paul's WSJ op-ed)  [View news story]
    This liberal Democrat supports Rand Paul's proposals. We have been drunk on borrowing and deficit spending and it is time to dry out.

    Unfortunately, the devil is in the details. I want to see where he is proposing his cuts. . If Rand is willing to reduce our spending on defending Western Europe, on staying in Japan and in building multibillion dollar bases in Iraq, I will support him. Also in the name of deficit reduction, is Rand willing to increase taxes on those who benefit most from our society?..those who earn more than $250,000. Is Rand willing to close the loophole that allows multibillionaires to pay only minimal (15%) taxes on their income? Is he willing to save Social Security by modifying the FICA tax so that it is no longer the most regressive tax in the history of economics?

    After 10 years, of destroying our children's economic future, it is refreshing to hear Paul Rand's ideas. Just wish he was here 10 years ago when our political leaders told us to go shopping to support 2 unnecessary wars. I would like to see comprehensive proposals from both Democrats and Republicans to get us to balance both on trade and budgets. And yes, if the pain is shared by all, I will support some reductions in services to the most vulnerable members of our society.
    Feb 7 11:56 AM | 8 Likes Like |Link to Comment
  • Score another win for hackers supporting WikiLeaks' Julian Assange, apparently taking down the Visa (V) website after crashing the MasterCard (MA) site earlier today. "It's down!" Operation Payback exults.  [View news story]
    History will anoint Julian Assange as a 21st century hero.
    Dec 8 04:34 PM | 6 Likes Like |Link to Comment
  • $321: Apple's Maginot Line [View article]
    Normally, B.I. G. provides some useful insights. But analysis pertaining to odd and even years? Or 50% of Decembers having a price increase? This is getting beyond reading tea leaves.

    Maybe this is a sign of market top?
    Dec 2 04:18 PM | 7 Likes Like |Link to Comment
  • Fed nominee Peter Diamond's blunt remarks against extending tax cuts for wealthier Americans could make it more difficult for him to obtain Senate approval. It's unusual for a Fed nominee to speak about fiscal policy, and his belief that "it would not be good policy to extend the tax cut for the highest earners" likely will irritate Republicans.  [View news story]
    Why would millionaire Senators with their multimillionaire contributors and friends ever approve anyone who put sound policy decisions before the Senators' personal well being.

    Did you think they became Senators to serve the country?
    Nov 30 03:37 PM | 1 Like Like |Link to Comment
  • Why John Kinnucan chose not to wear a wire: "The evident intent of the Justice Department to retroactively criminalize what has been common practice for years - done by investment banks, research providers and mutual and hedge funds alike - seems like a profound miscarriage of justice." (earlier)  [View news story]
    Since when does prosecution of criminal and illegal activity practiced by a bunch of greedy and unethical institutions become "a profound miscarriage of justice"?

    It is amazing that one would try to justify illegal activity just because it has been overlooked for years.
    Nov 29 03:48 PM | 8 Likes Like |Link to Comment
  • With interest rates at historic lows, and shares languishing below $30, Seattle Times' Brier Dudley wonders if it's time gargantuan Microsoft (MSFT -1.8%) took itself private. And he's not the only one, MSFT's GM of IR says: "Sure, in the back of people's minds. We've thought about it."  [View news story]
    Easier and faster to shake up (fire) the executive suite!
    Nov 23 02:33 PM | Likes Like |Link to Comment
  • Joshua Brown has heard from just the three people he needed to convince him that gold is frothy - Jim Cramer (calling for a 20% allocation), Richard Russell (saying gold's in "speculative" phase), and his mom.  [View news story]
    When Cramer says put 20% of your assets in precious metals, it is time to sell. Just wait a few days as the fools that follow him, drive the price up (temporarily).
    Nov 12 07:11 PM | 12 Likes Like |Link to Comment
  • The U.S. public shows no love for the recently passed Dodd-Frank financial reform bill, with 54% saying they are dissatisfied, according to a new poll. That's an even worse rating than garnered by the banks the new law is designed to police.  [View news story]
    In a country where a good portion of the populace believes that the earth is approximately 5,000 years old, should we expect anyone to understand the complex issues? Isn't that why we elect representatives so that they can study complex issues and make informed decisions. But that is not what you will hear on Limbaugh or on Fox Entertainment.
    Oct 22 04:01 PM | 2 Likes Like |Link to Comment
  • TARP provided taxpayers with higher returns than they could have made buying 30-year Treasury bonds, Bloomberg reports. The government has earned $25.2B on its investment of $309B in banks and insurance companies, an 8.2% return over two years - beating Treasurys, high-yield savings accounts, money market funds and CDs.  [View news story]
    Conveniently ignores the level of risk in TARP was several times that of CD's, 30 year bonds, etc.

    A fair comparison would have been to compare it to the returns generated by Berkshire Hathaway with its investments in GS, GE etc.

    But that comparison would clearly indicate that the US Govt., the TBTF banks and the financial media are just one big happy family oligopoly.
    Oct 20 10:36 AM | 7 Likes Like |Link to Comment
  • A recent survey showed that 23% of AT&T (T) iPhone users would switch to Verizon (VZ) if given the chance. But iPhone (AAPL) owners should think twice before jumping ship: Verizon's CDMA network means customers can't surf online while talking on the phone, won't be able to use their phone as broadly internationally, and will chew through their batteries faster.  [View news story]
    AT&T's network suffers from the heavy data traffic incurred by iphone users. Will Verizon suffer from the same phenomenon? Will AT&T's performance improve with the migration to Verizon of its heaviest (and therefore most dissatisfied) users? Would strongly recommend you answer these 2 questions before you switch.

    Disclosure: positions in AAPL, V, T
    Oct 10 07:05 PM | Likes Like |Link to Comment
  • New Jersey Governor Chris Christie says he cancelled the second rail tunnel under the Hudson River because the state can't afford it, but Paul Krugman says it's a "terrible, short-sighted move... We have the need... we have the resources... and the price is right." With interest rates on debt at near-record lows, Krugman says it's a great time to borrow for long-term investment.  [View news story]
    Meanwhile the Chinese are wondering how stupid the Americans can be if they cannot distinguish between Capital investment and wasteful spending. How stupid can we be if we can spend a trillion dollars on a useless war but cannot invest in our own future.
    Oct 8 11:00 AM | 5 Likes Like |Link to Comment
  • On HP, Business Acquisitions and Share Buybacks [View article]
    Also raising cost of capital for HPQ was the loss of a significant executive.

    Significant?? Had inappropriate relationship with a contractor and cheated on his expense reports!

    What kind of message would the BOD send employees if they chose to look the other way?
    Aug 26 10:09 AM | Likes Like |Link to Comment
  • Housing Market May 'Have the Bottom Fall Out' [View article]
    He really did not have any solutions.. just listed the problem and somehow expected the administration to wave a free market magic wand and make it go away. And if they cannot do it, I am sure Speaker Boehner can do it.
    Aug 17 08:13 AM | 8 Likes Like |Link to Comment
  • Piqued by new disclosures of Merrill Lynch's (BAC) techniques of hiding leverage and losses, Barry Ritholtz thinks we may finally begin to see some "justice" to perpetrators of Wall Street fraud. "When this all plays out, we might very well see bonus clawbacks, fines and penalties, disgorgement of ill gotten gains, and criminal arrests."  [View news story]
    Barry, you are too much of an optimist..Just do not hold your breath.
    Aug 11 10:43 AM | 2 Likes Like |Link to Comment