Financial Institutions- Is Your Money Safe?

The headlines have been full of bank troubles and failures like Indy Mac.  The FDIC recently stepped in to save Indy Mac depositors in July and this action is expected to cost the FDIC some $4 to $8 billion.  This is in addition to the approximately $1.2 billion in other FDIC bank rescues so far in 2008.  Given such news, it is timely to discuss how assets are protected and why you should not worry about it.

Derivatives – Good, Bad, and Ugly

The press loves to talk about ‘derivatives’ as if all the evils of the world can be wrapped up in a single word.  What’s wrong with Wall Street? Derivatives.  Why did you lose your job? Derivatives.  Why can’t the Mets bullpen get the job done?  Okay, that one’s not about derivatives.  I don’t think.

RSS Feed

I’ve been asked about feeds… I have added the ‘meta’ widget, which has two feed links called ‘entries RSS’ and ‘comments RSS.’  Click there to subscribe. IE7 users should also have an RSS button on their toolbar, and I think Opera and Firefox users have something similar.

Enjoy!!

The Old Fashioned Way

I see that Paul Eustace, former manager of the hedge fund Philadelphia Alternative Asset Management, has been ordered to return $279 million to clients and pay a $12 million civil penalty (http://news.yahoo.com/s/nm/20080819/bs_nm/hedgefund_fraud_dc;_ylt=Al63G7G60fmYlUYT1QUXBce573QA).