On Sunday December 21, 2008 Oregonian columnist Steve Duin wrote a column titled "A fool and his trust are soon parted." Clearly, Oregon State Treasurer Randall Edwards, in his management of the plan, has breached his responsibility to Oregon's parents savings for college, saddling those making conservative bond choices with losses of almost 40 percent. … Continue reading Oppenheimer College Savings Plan Infected by Madoff Scandal – Obama’s State Illinois and Oregon both Impacted
Tag: 2008
On November 18, 2008 I gave a presentation to the local chapter of the American Association of Individual Investors (AAII) at the Multnomah Athletic Club here in Portland, Oregon regarding the overall state of the financial markets. The talk focused on how we arrived where we are and what to look for going forward. Also … Continue reading Immediate 6 Step Program to Turn Around Economy Proposed
This week Bloomberg disclosed that Warren Buffett, the man who has called derivatives a weapon of mass destruction, has himself afterall leveraged his fund Berkshire Hathaway by making a $40 billion bet in derivatives. Little known to most investors is that Buffett's primary source of revenue is his 50 insurance companies, including General RE, his … Continue reading Warren Buffett’s Credibility Takes a Big Hit
On Friday President Elect Obama designated Tim Geithner to be the next Treasury Secretary and the stock market rose roughly 5 percent in minutes. Clearly, this was former Federal Reserve Chairman Paul Volcker's choice and once again demonstrates Volcker's influence as a beacon of integrity and competence. It also highlights Obama's good judgement by seeking … Continue reading Paul Volcker Makes Treasury Secretary Choice for Obama
One century ago Republican Theodore Roosevelt was elected president and instituted sweeping changes in government, including the establishment of an estate tax and the national park system. What followed was an economic boom that lasted for years. Roosevelt knew the importance of circulating wealth in order to revitalize the economy by investing in key infrastructure, … Continue reading Estate Tax and Tax Equity: Bill Gates Sr. Battles Son Bill Gates Jr. as Grover Norquist and Warren Buffett Weigh In
For several years now I have recommended adding short term Canadian Treasury notes to client portfolios, beginning when the Canadian dollar was roughly 62 cents to the US dollar. The last of these positions mature in 2008, including those that already matured in July and another group set to mature in December. Earlier this year … Continue reading Canadian Dollar – An Underappreciated Currency, What It Might Say About US Stock Market
An article about the economic advisers of both McCain and Obama. By Bill Parish.
Today is Columbus day, a day that celebrates Columbus discovering America. Perhaps it is ironic that over the weekend America discovered Europe when it comes to guidance in dealing with our financial crisis. The answer to the crisis is not to have the Treasury purchase vast amounts of worthless securities from troubled banks but rather … Continue reading Europe Blocks Treasury Secretary Paulson From Looting America
Almost a year has passed with respect to the mortgage and banking related crisis in the United States and very few stories have been done on the safety and soundness of credit unions. Given the aggressive move into real estate loans by many credit unions, many are asking one simple question. How safe are my … Continue reading Credit Unions – Strengths and Weaknesses