Who will arrest the investment police? May 17, 2009
Posted by Jeff Nabers in : real estate, Self Directed IRA Solo 401k , add a comment
An unsurprising story surfaced a couple of days ago… SEC attorneys are under investigation for insider trading!
If you can’t truly value that exclamation point I just used, let me help you. The Securities & Exchange Commission (SEC) is a government organization that was formed to convince us that investing in the stock market was safe. Part of their role is to make sure people don’t use their non-public knowledge to make profitable investments in the stock market (yeah, right). This is called “insider trading”. In business, this is known as “doing business”. In real estate, non-public knowledge can turn a peon into a mogul overnight. But in the stock market it is a crime and we give the SEC billions of our dollars to make sure it doesn’t happen.
But, whoops, SEC attorneys are doing it themselves. And a lot. One of the two SEC attorneys currently under FBI investigation made 247 stock (more…)
Was Madoff a Better Investment Than Your Mutual Fund? February 25, 2009
Posted by Jeff Nabers in : Self Directed IRA Solo 401k , add a comment
Blogger, owner of the Dallas Mavericks, chairman of HDNet, and billionnaire Mark Cuban poses the question:
Was Madoff a better investment than your mutual fund. Surprisingly, his answer is yes. To see why, read his post.
Obama ashamed of Wall Street January 30, 2009
Posted by Jeff Nabers in : Money, Personal Enjoyment, real estate, Self Directed IRA Solo 401k , add a comment$18,400,000,000.00
18.4 billion dollars. According the NY state comptroller, that’s what was paid out in bonuses on Wall Street last year as the American people lost nearly half of their investment portfolios… about the same amount in bonuses that were paid out in the supposed boom of 2004.
Obama is concerned because he thinks Wall Street’s greed may undermine the government’s plan to rally support for trillions more in “bailout” and “stimulus” packages. Read the whole story here.
Bank bailout money goes to CEO bonuses November 1, 2008
Posted by Jeff Nabers in : Money , add a comment
Mark Cuban, billionaire owner NBA team Dallas Mavericks, runs a couple of interesting web sites. In July of 2006, he started ShareSleuth, an online publication that exposes fraud in the stock market. It’s surely worth checking out.
More recently Cuban has launched BailoutSleuth, an online publication aimed at creating transparency of the government bailout of the financial services industry. One of the latest findings seems to be that officers of all of these failed banks are continuing to pay themselves millions of dollars in bonuses. While some other countries have their own bailouts, the U.S. is the only country who has not capped the compensation for officers of the corporations who receive bailout money. Read the details here…
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