The Politicians Category

Wall Street takes a lot of the blame for the meltdown that started in October, 2007 and rightly so. But, don’t forget the politicians. They control the agencies that control the Wall Street marketing machine. It is no accident that Wall Street companies spend more than $300 million per year on lobbyists who make sure regulations favor the industry and not investors. This incestuous behavior has been going on for decades. Don’t expect it to go away.

By: Matthew Arndt, CFA, CPA, CFP | February 1, 2010 | The Politicians, The Regulators

It’s conceptually simple: take away any government protection for stockholders, management and creditors of large financial institutions to help shrink their appetite for risk-taking. For instance, in the case of the Bear Stearns debacle stockholders should have been wiped out; management should have been fired; and the bondholders should have suffered significant losses. Instead, stockholders [...]

By: Jack WaymirecloseAuthor: Jack Waymire Name: Jack Waymire
Email: jack@paladinregistry.com
Site: http://paladinregistry.com
About: Jack writes for the InvestorWatchdog website and Worth magazine. He worked in the financial services industry from 1976 to 2004. For twenty of those years he was the president of a Registered Investment Advisory firm and a Broker/Dealer. Jack is the author of Who's Watching Your Money? The 17 Paladin Principles for Selecting a Financial Advisor and is a co-founder of PaladinRegistry.com.See Authors Posts (88) | January 29, 2010 | Deceptive Sales Practices, The Politicians

I was reminded the other night, watching President Obama’s State of the Union message, that politicians and low quality financial advisors use the same deceptive sales tactics.
First, Obama told people what they wanted to hear. They wanted to lower unemployment; he will lower unemployment. They wanted economic growth; he will create growth. Financial advisors use [...]

By: Jack WaymirecloseAuthor: Jack Waymire Name: Jack Waymire
Email: jack@paladinregistry.com
Site: http://paladinregistry.com
About: Jack writes for the InvestorWatchdog website and Worth magazine. He worked in the financial services industry from 1976 to 2004. For twenty of those years he was the president of a Registered Investment Advisory firm and a Broker/Dealer. Jack is the author of Who's Watching Your Money? The 17 Paladin Principles for Selecting a Financial Advisor and is a co-founder of PaladinRegistry.com.See Authors Posts (88) | January 27, 2010 | Investor Information, The Politicians, Wall Street Ethics

There are aristocrats in the U.S., but membership in this exclusive club is not based on bloodlines, it is based on money and political power. The new aristocrats are key executives of major companies who control the money and Washington politicians who control the power. Politicians need money to gain and retain power. Executives need favorable regulations to maximize profits and bonuses. They work [...]

By: Jack WaymirecloseAuthor: Jack Waymire Name: Jack Waymire
Email: jack@paladinregistry.com
Site: http://paladinregistry.com
About: Jack writes for the InvestorWatchdog website and Worth magazine. He worked in the financial services industry from 1976 to 2004. For twenty of those years he was the president of a Registered Investment Advisory firm and a Broker/Dealer. Jack is the author of Who's Watching Your Money? The 17 Paladin Principles for Selecting a Financial Advisor and is a co-founder of PaladinRegistry.com.See Authors Posts (88) | January 27, 2010 | The Politicians, Wall Street Ethics

The politicians are incensed about the economic damage that was caused by Wall Street greed and stupidity. As ususal politicians are telling an outraged public what it wants to hear: “We will enact new regulations that will prevent this type of economic meltdown in the future.” The finance, insurance, and real estate industries contributed $85 million to federal lawmakers in the [...]

By: Jack WaymirecloseAuthor: Jack Waymire Name: Jack Waymire
Email: jack@paladinregistry.com
Site: http://paladinregistry.com
About: Jack writes for the InvestorWatchdog website and Worth magazine. He worked in the financial services industry from 1976 to 2004. For twenty of those years he was the president of a Registered Investment Advisory firm and a Broker/Dealer. Jack is the author of Who's Watching Your Money? The 17 Paladin Principles for Selecting a Financial Advisor and is a co-founder of PaladinRegistry.com.See Authors Posts (88) | January 22, 2010 | The Politicians, Wall Street Ethics

You need investment advice to help you achieve your financial goals. Your need creates a sales opportunity for licensed sales reps, advisors, planners, brokers, and agents. It also opens the door to unlicensed reps selling scams.
Wall Street companies know how to take advantage of your need. For example, its companies produce “feel good” advertising messages that are designed to [...]

By: Matthew Arndt, CFA, CPA, CFP | January 22, 2010 | The Politicians, The Regulators

There is a developing proposal that requires congressional approval which is intended to limit among other things speculative trading activity at large banks that receive blanket guarantees from U.S. taxpayers through FDIC insurance and other Governmental assurances. Branded the Volcker Rule after its originator former Federal Reserve chairman Paul Volcker, it imposes tougher standards on [...]