Comments on: Is There a Shadow Government In America?

By: An Open Letter To Vikram Pandit, CEO of Citigroup | Financial Samurai

An Open Letter To Vikram Pandit, CEO of Citigroup | Financial Samurai — Wed, 23 Sep 2009 14:58:18 +0000

[...] “America’s Shadow Government” [...]

By: admin

admin — Tue, 15 Sep 2009 21:27:14 +0000

Hi Lee – Thanks for sharing your thoughts. I love your “spitting feathers” vernacular! This is what’s so great about international friends. I’ve never heard that term before, and it provides for great imagery. I have a feeling Barclays will do quite well, as well!

By: Lee

Lee — Tue, 15 Sep 2009 04:03:31 +0000

People are still spitting feathers over the RBS/HBOS fiascoes. I suspect that’ll rumble on for quite a while yet…! Us taxpayers own (iirc) 72% of RBS now.

Barclays are the only major UK financial institution that didn’t need or take a handout. It also by random chance is the bank I am with, so I’m quietly pleased. I wouldn’t say people perceive it to be “deserving” because of that, but definitely trustworthy and reliable. I suspect when the fallout has finished, they’ll do extremely well out of new custom.

By: admin

admin — Tue, 15 Sep 2009 01:44:26 +0000

Lee – is there still an uproar against the huge pay and bailout out money towards RBS and UBS? Looks like Barclays didn’t receive any bailout money, so are they perceived as a “better” or “more trustworthy” and “deserving” bank? The story with RBS is unbelievable… I can’t believe the government owns 70% of the bank (!?).

By: Lee

Lee — Tue, 15 Sep 2009 01:39:08 +0000

The UK government is continuing to recommend people “spend their way out of recession”, yet the banks are turning round and encouraging people to save, but not particularly enticing anyone to do so with their interest rates.

We’re in interesting financial times indeed.

By: admin

admin — Tue, 08 Sep 2009 13:54:33 +0000

Thanks for the highlight Mike! Have noted.

By: Mike

Mike — Tue, 08 Sep 2009 08:06:04 +0000

One small correction: That $105k income limit for IRA contributions applies only to the Roth IRA, not to the IRA per se. Even with an income above that you can still contribute to an IRA; and if self and spouse do not have an IRS-approved company-sponsored retirement plan those contributions are even deductible.

By: fs

fs — Thu, 03 Sep 2009 14:40:37 +0000

Hi Michael – It seems like politicians are pulled in every single direction. If you’ve ever watched them try to grill some finance guy in CNBC, I think you’ll find that a lot of them don’t know what they are talking about. It was most apparent when they grilled Hank Paulson, during the crisis.

Politicians always try to do what’s best for their constituents, and have every incentive to spend all the money ear marked to them. If politicians had lifetime terms, maybe it’ll be different. But with only 4-8 years their time to make a difference is short!

Shogun