A Financial Journey

My money, my future

noreply@blogger.com (zoni) — Thu, 03 Jan 2019 02:00:00 +0000

New blog, My Money My Future was recently created to feature the 2nd edition of Destination Points, A Values Driven Journey with a slightly modified title, Destination Points in your Financial Journey.

Your compass in your financial journey.

Available only at amazon.com in ebook and paperback editions.

T (920) 540-6518

Email maria@viacompass.com

noreply@blogger.com (zoni) — Mon, 09 Feb 2015 17:35:00 +0000

WHERE ARE YOU AT?

You have three destination points in your financial journey.

1) Financial Stability - the indicators of financial stability will show you that the road is a long journey in financial discipline. It starts with saving as the force behind any financial endeavor.

2) Financial Security - the word security quickly brings to mind safety and protection. In a financial context, it is about how to grow and protect your money and manage your risks.

3) Financial Independence - is when you have arrived!

Get the details in the book, Destination Points, A Values-Driven Journey. Your compass to reach your destination.

Photo credit The Sarah Palin Channel

noreply@blogger.com (zoni) — Mon, 12 Jan 2015 07:29:00 +0000

For most of us, a majority of holiday expenses very likely were charged to credit. Review your billing statements promptly and should there be any disputed transactions, they must be reported within 60 days of the statement date on which the error appeared.

What to do

Contact the merchant.
If you fail to come to a resolution, escalate the process by filing a written report with your credit card issuer within the 60-day window.
Send your letter with supporting documentation i.e. copy of sales receipt via certified mail to the proper address for dispute resolution and not to the address where you normally send your payment.

What to expect

Your card issuer is obligated to investigate the dispute, acknowledge your complaint in writing within 30 days of receipt and resolve the dispute with the merchant within two billing cycles but not more than 90 days. Most credit card issuers remove the charge until the matter is resolved. You may also choose to withhold payment of the disputed amount pending investigation.

noreply@blogger.com (zoni) — Mon, 22 Dec 2014 02:54:00 +0000

2014 is almost over. There was increased financial advocacy activity this year plus I am spending half of the time in healthcare practice management.

We are excited to usher in 2015! You can expect the monthly blog posts (yes, I will do them) delivered chunk-style, short and sweet.

For now, we send you our warm wishes for a very

MERRY CHRISTMAS!

in celebration of Christ's birth - the reason for our being.

We cherish the many years of our working relationship - Thank you!

Your Financial Journey - Who's Driving?

noreply@blogger.com (zoni) — Thu, 24 Jan 2013 01:29:00 +0000

The bottom line is for everyone to be educated and empowered to be able to lead healthy financial lives. There is a thin line between a financial advisor's financial gain and your best interest. The business model under which the financial services industry operates needs to change. Until then, the consumer must take charge.

Surely it is not possible to know all about money, investments and financial strategies. Know your values from which flow your goals and educate yourself about the financial vehicles to carry out those goals.

Get the compass for your financial journey: Destination Points- A Values Driven Journey

Protect Your Paycheck

noreply@blogger.com (zoni) — Tue, 25 Dec 2012 02:19:00 +0000

If the Bush tax cuts are allowed to expire by the end of this year, your take home pay will be less. Payroll taxes withheld for Social Security, currently at 4.2% of your gross income will return to 6.2%.

What is right for you?

1) more dollars for your take home pay or
2) a tax refund in the following year?

It might be a good idea to revisit the W-4 with your employer. The more allowances you claim on your W-4, the less income tax will be withheld.

More information here http://www.irs.gov/Individuals/Employees/Tax-Withholding

http://www.viacompass.com

Safety & Soundness of America's Financial Services Industry

noreply@blogger.com (zoni) — Tue, 18 Sep 2012 01:10:00 +0000

What's in your portfolio?

noreply@blogger.com (zoni) — Sat, 04 Aug 2012 02:06:00 +0000

You see reports like this all the time "...Stocks rallied to a three-month high in the past week, helped by more assertive language from the Fed Wednesday..." You can read the full article here http://www.cnbc.com//id/48494065

But what does it all mean to a first-time investor? Your investment portfolio typically is made up of three main asset classes: stocks, bonds and cash or cash equivalents.

A diversified portfolio holds a mix of the three asset classes and might also include exchange traded funds (ETFs), precious metals, commodities, annuities, cash value life insrance, tax-exempt investments and real estate. It is important to remember that each has its own category-specific risks.

Your investment portfolio needs to be managed. We will cover this on a later post.

The book, Destination Points, A Values-Driven Journey, delivers essential financial topics in a cohesive, chunk-style learning that will stimulate your interest and encourage you to learn more.

http://www.viacompass.com

In Moderation

noreply@blogger.com (zoni) — Sun, 08 Jul 2012 02:48:00 +0000

The Moderate investor's objective is growth with income. If you do not want to lose your principal but recognize that the potential for greater growth goes hand in hand with greater risk, choose a moderate allocation model for your investment portfolio.

A moderate investor will react to market downswings but not lose sleep over them. The objective for long term gain is more important and this investor is prepared to ride the market. Most investors in this category are willing to take the average amount of risk to get a larger return.

Is this you?

http://www.viacompass.com

FINRA Update

noreply@blogger.com (zoni) — Sun, 24 Jun 2012 01:58:00 +0000

FINRA Enhances BrokerCheck^®to Help Investors
FINRA has enhanced BrokerCheck—a free tool that lets you research the professional background of firms and investment professionals. Now, in addition to being able to look up FINRA-registered firms and brokers, you can also check out the backgrounds of investment adviser firms and representatives.

Also, you can now search for financial services professionals based on office locations or ZIP codes. And FINRA has expanded the educational content in BrokerCheck, including new help icons that clarify common terms used throughout the system and in the reports.

Learn more here http://www.finra.org/Investors/ToolsCalculators/BrokerCheck/
Source: SaveAndInvest.org, a project of the FINRA Investor Education Foundation.

http://www.viacompass.blogspot.com/

The Conservative to Moderate Investor

noreply@blogger.com (zoni) — Sat, 19 May 2012 18:28:00 +0000

Investors in this category are willing to tolerate some risk to have a little more return to provide income as they live longer. Minimum exposure of their principal to market fluctuations is important. Their objective is current income.

As you've often heard, past performance of a fund is not a guarantee of future results. It is generally recommended that this investor has a diversified portfolio that includes fixed income securities as well as large-cap, mid-cap, small-cap and international equities allocated with 60% to fixed income and 40%to equity securities.

Financial institutions provide portfolio allocation models to help you customize a conservative to moderate portfolio. Ask for it and put your financial representative to the task of explaining the jargon in simple layman terms. It will be a worthwhile learning experience that puts you in charge.

It's your money after all.

What Type of Investor Are You?

noreply@blogger.com (zoni) — Sun, 11 Mar 2012 01:05:00 +0000

Can you tolerate stock market fluctuations? How are your assets invested? Typically, there are five investment risk categories or styles - conservative, conservative to moderate, moderate, moderately aggressive amd aggressive. Each category is driven by the individual's objective which simply means, what do you want your money to do for you?

You are a conservative investor if your objective is to preserve the amount of your investment, referred to as the principal or cost basis. Investors in this category want their money to grow in a vehicle that pays a fixed rate where the principal and interest are guaranteed. The investment vehicles in this category are savings accounts, money market accounts, money market funds and certificates of deposit (CDs).

Knowing your objective will determine the investment options for you to consider and there are many. There are three major asset classes- stocks, bonds and cash or cash equivalents. There are lower risk investments, investments with higher returns, tax-advantaged vehicles that can be tax-free, tax-exempt or tax-deferred and annuities. Destination Points- A Values Driven Journey, now available at Amazon, Barnes&Noble and http://www.viacompass.com/ gives you a working knowledge on all of these topics.

Next post: The Conservative to Moderate Investor

http:www.viacompass.com
we point the way.

Is A Curved Ball Coming Your Way?

noreply@blogger.com (zoni) — Fri, 02 Mar 2012 05:35:00 +0000

Life’s journey is not without detours and roadblocks that set us back when caught unprepared. Have you planned for the financial crises in your life?
Here are some life events that come with a high price tag:
Job Loss
It used to be that a job equates to security. In the aftermath of the financial crisis of 2008, unemployment could last up to three years or more. Are you prepared for the challenges of losing a job? The old rule to have emergency cash reserves equivalent to 3-6 months of living expenses no longer holds. It’s more realistic to have 8 months to a year of reserves to maintain your lifestyle if you lose your income.
Disability
Have you ever thought about how you will keep the financial wheels of your household running when you can’t work due to an illness or injury? Did you know that people are likely to be disabled rather than die during their working years or miss at least 3 months of work due to injury or being sick? Social Security Disability Insurance (SSDI) can pay you benefits but only if you are severely disabled and expected to remain so for at least 12 months. Your employer may provide some disability insurance coverage but would it replace at least 70% of your income?
Pre-mature Death
Generally, if you have someone depending on you, the death benefit of life insurance provides guaranteed financial protection in the event of your death. Have you done your personal financial planning to allow for other assets to meet the financial needs of those who depend on you?
Other Emergency Needs
These include car and home repairs, medical costs not covered by insurance and unbudgeted expenses. Do you have adequate cash reserves to cover such financial emergencies?

These are just a few of the challenges in your journey to be financially stable. It’s time that you take charge. Get your compass to a secure tomorrow – Destination Points: A Values Driven Journey, more information at http://www.viacompass.com/

Overspending and wasteful consumption

noreply@blogger.com (zoni) — Sat, 24 Dec 2011 02:59:00 +0000

Wishing you a Merry, Jolly and Blessed Christmas!

Just like the Magi, we give honor and praise to our Lord bearing gifts for Him that we deliver to others. Didn't He say, 'whatever you do to the least of my brethren, you do unto me'. What might you do? A good turn, a kind word, a thoughtful gesture, provide a meal to the less fortunate and so much more. For most people, such acts of kindness are represented by a gift.

If you don't have a list, like Santa does, we tend to overspend and buy stuff that are not useful to or appreciated by the recipient.

It's a couple of days before Christmas. If you do not have any idea of a present to give thanks, show appreciation or make peace, get one of those nicely-designed money envelopes designed to hold cash. There are also those novel creations that hold gift cards. No wasteful consumption, overspending and best of all, no returns and no exchanges.

A few things to keep in mind about gift cards-

There are limits on expiration dates: The money on the gift card will be good for at least five years from the date the card is purchased. Any money that might be added to the card at a later date must also be good for at least five years.
Replacement cards: If the gift card has an expiration date you still may be able to use unspent money that is left on the card after the card expires. If your card expires and there is unspent money, you can request a replacement card at no charge.
Check your card to see if expiration dates apply, fees are disclosed and there are limits on fees.

Get more information at http://www.federalreserve.gov/consumerinfo

http://www.viacompass.com/

Has Christmas become synonymous with spending?

noreply@blogger.com (zoni) — Thu, 15 Dec 2011 06:27:00 +0000

Say 'Christmas' and people across generational lines think 'presents'. Christmas is a birthday celebration after all. The Magi brought the baby Jesus gifts of gold, frankincense and myrrh. Today, the real message of Christmas gets lost amid a flurry of activities that include shopping, putting up decorations, parties, homecoming visits and more shopping that all come to an end the day after Christmas (or some time thereafter). There are lots of wonderful memories for sure but in its aftermath most people are saddled with debt.

Oh, the convenience offered by a credit card... just lovin' it! You are satisfied. You got your wants and needs covered without shelling a dime. Do you realize that you now have a loan that must be paid back in 30 days? You don't have to but if you do not pay the full amount due, the finance charges can quickly throw you into a pit that is designed to make it difficult for you to climb out.

Be smart and shop for the lowest APR on credit cards. The annual percentage rate (APR) is the cost of credit on an annual basis expressed as a percentage rate. When stated in dollars, the finance charge is the total dollar amount shown on your credit card statement and includes interest and other fees. Interest is the price you pay for using the credit card company's money. Here are a few tips:

Use no more than 28% of your credit limit
Read the terms of your credit card agreement
Minimize the interest costs by paying as often as allowable within the billing cycle
If you are not able to pay the full amount due and must carry the balance forward, do not make any additional purchases until the balance is paid in full.

The new Card Act that was signed in 2009 provides credit protection for consumers. The highlights are on page 58 of Destination Points - A Values Driven Journey available here http://www.viacompass.com/financial_stability/limited_copies_-_order_today

Take charge - don't spend money you don't have!
http://www.viacompass.com/

Where is the money?

noreply@blogger.com (zoni) — Sat, 26 Nov 2011 03:46:00 +0000

A two-income family of four lives from one paycheck to the next. The bills get paid but there is always the insecure feeling about the what-ifs in life. These are the curved balls that come your way when you least expect them. Is this the life you want? For a lot of people, the cushion they fall back on during times of emergency is the mighty plastic - credit cards. Car repairs, out of pocket medical expenses, replacement costs for household necessities such as the furnace, water heater, washer, dryer are some items that go on the card. Unless you pay your credit card balance in full each month, the amount you put on the card for an asset that depreciates costs more. Think about that.

The solution is to build your emergency cash reserves. It is recommended that you have liquid savings equivalent to at least three to six months of living expenses. With the high unemployment rate in the aftermath of the financial crisis of 2008, it is best that you save up to nine months to a year in living expenses. Most people on Main Street do not have an adequate emergency fund and others hardly have any savings at all.

What must you do? If you do not maintain a monthly income and expense statement, now is the time to do it. It is important that you keep track of your expenses to know where the money you earn goes. Doing it for a six-month period will benefit you the most. You can view the template at our companion website, http://www.viacompass.com/ and request a copy to be emailed to you. Make copies for future use.

Your monthly income minus your monthly expenses is your discretionary income. Strive to increase this discretionary amount each month to build up your savings or pay down debt. Unless you are the beneficiary of a financial windfall, your journey starts with saving all you can and putting your money to work using various financial and investment products that are suitable for your unique situation.

Know the difference between discretionary income and disposable income? You can find the answer on page 33 of Destination Points, A Values-Driven Journey. More on the book here http://www.viacompass.com/financial_stability/limited_copies_-_order_today

Are you in an inverted pyramid?

noreply@blogger.com (zoni) — Tue, 22 Nov 2011 18:22:00 +0000

If you are, the journey to your financial destination will take longer to reach. What does that mean?

In Chapter 1 of the book, Destination Points - A Values-Driven Journey is a picture of a pyramid that encases the blueprint of a secure future. At a glance, the path to your destination is clearly spelled out in only three steps. It starts with a foundation that is rooted on a clear purpose and set of values made stronger with education, financial discipline and good money management.

Your values shape your goals. If goals are not aligned with your values, your journey will be a struggle. I was privileged to practice in the insurance and financial services profession. [I am retired and do not sell insurance and financial produts but continue to be a resource to anyone who needs help]. I have come to know a lot of people who live inside an inverted pyramid. They have good-paying jobs and find great satisfaction to live in the moment. It's a choice they make - but sooner or later - a certain kind of restlessness sets in and they face the inevitable question - where am I going?

They realize they're not getting any younger, their job is at risk, health concerns develop, and other life events occur as they always do. These are eye-openers that lead us to question our purpose. You work hard for the money. Why? Whatever the answer may be, ask yourself again. Why? On pages three and four of the book is a short, simple exercise to help you identify your values. Go there now.

You just might find that it is time to re-affirm your sense of purpose and values.

http://viacompass.com/

Picking up where I left off

noreply@blogger.com (zoni) — Sun, 20 Nov 2011 05:49:00 +0000

Moving forward, my focus is on financial education. Archived posts were about Main Street, its people and their financial concerns and challenges. The financial crisis of 2008 was an eye-opener for all of us. The devastating impact it had on personal finance triggered an awareness and urgency for people to take charge of their financial health.

Sadly, most of them do not know how. Why? Financial education was absent and financial discipline was silent in their lives. I addressed these concerns in my book, Destination Points - A Values Driven Journey. The book serves as your compass in your financial journey. The topics are wrapped around real-life situations that allow you to identify with and learn from other people's experiences.

How often have you skimmed through a book to find that only a small part of the content is applicable to your situation? Destination Points delivers essential financial topics in a cohesive, chunk-style learning designed to stimulate your interest and encourage you to learn more. It will be released on December 21, 2011 and available for pre-order at our companion website http://www.viacompass.com/

Writing the book is a start. Welcome to my blog, Destination Points - are you there yet?

http://viacompass.blogspot.com/

A Sad Day for America

noreply@blogger.com (zoni) — Mon, 22 Mar 2010 05:50:00 +0000

The merits of the healthcare reform bill as portrayed by this administration are not representative of middle America at all. The administration did not listen to a bi-partisan approach to solving our healthcare issues incrementally.

Democrats clearly demonstrated their political interests rank supreme before the interests of the people they serve. It's pathetic. This administration has an agenda that defeats a government of the people, by the people and for the people. We are seeing the first of a series of radical changes. Heaven help us.

We don't want a government lording over us dictating how everything should be and creating more government to run businesses they know nothing about. It is a shame that we have people in Congress and a president who ignore the public welfare. They play into the plight of a small group of people who can be helped outside of this major healthcare overhaul.

The dignity that once pervaded the halls of Congress is lost. The only way to recover it is to send all who voted for the healthcare reform back to their home state to witness the damage they have inflicted to all Americans. The healthcare industry needs changes but not in the form this administration packaged this bill, not in the manner this administration forced it down our throats, not by making deals to get the votes to pass the bill and not with the urgent, down-played threat to members of Congress and the public to save the presidency and the party.

For as long as this administration is in power, I have great fear of what lies ahead.

Time Out and Revisit Healthcare Reform in 2010

noreply@blogger.com (zoni) — Sun, 13 Sep 2009 20:23:00 +0000

Democracy is alive, our freedoms are intact and dialogues are great. However, when discussions rise to a level where political leanings take over, both sides should know better to cease their discourse. It does not serve Main Street to watch the exchange of political punches. It is evident that Main Street has had it. The Washington landscape has not changed. The issues are the same and the state of the country is not any better.

Imagine parents engaged in a heated, destructive argument in front of their children or a company president dismissing a suggestion for improved product standards to be competitive. A similar scenario has been playing before our eyes for a long time. The same issues remain unresolved because they get bounced from one place to another. Not much is done as half of the time is spent on blaming each other while Main Street suffers. The pain has been manageable in past years and the few who stood for it were not heard. Their voices are not loud enough.

Not today. Main Street is severely hurt and they are showing it. Their concerns are real. Their futures unsecure. They are unable to leave a legacy for their children. They can hardly meet their basic needs.
I know because my job is to help them secure their future.

In the face of it all, it is disappointing to see our leaders to be combative, defensive and determined to push forward their agenda and get it done. Wouldn't it be in everyone's interest to take a breather and look into the reasons behind the noise? Let's not be quick to dismiss it as partisan politics. It is not.

http://riyah6.blogspot.com/

A Matter of Priorities: Healthcare vs Social Security

noreply@blogger.com (zoni) — Tue, 25 Aug 2009 20:42:00 +0000

In May of this year, Social Security announced that program costs will exceed revenue by 2016, one year sooner than what was reported last year. Additionally, the social security trust fund will be exhausted in 2037, four years sooner than projected last year.

Shouldn't social security merit top priority over healthcare reform? Think about our children born in the 70's with no supplemental retirement benefits. Why pay into social security at all? Most of them are currently unemployed and unable to set up their own individual retirement plans so as not to rely on social security. Such a bleak picture of the future should be compelling enough to command urgent action.

If that is not enough, consider this: to pay all scheduled benefits over a 75 year period, the social security trust fund would need additional revenue equivalent to $5.3 trillion in today's dollars. The country's projected deficit over a 10 yr. period is a whopping $9 trillion!

Why is the administration rushing to pass the healthcare reform bill this year? Haste makes waste. Is this the way to run government? Set priorities, lay out a plan and stay focused on the goal. It appears that the agenda is to react to issues triggered by special interest groups under the banner of serving the public interest.

Can we please have a plan to reform social security before next year's annual report?

http://riyah6.blogspot.com/

Healthcare Reform This Year - Why the Urgency?

noreply@blogger.com (zoni) — Tue, 25 Aug 2009 05:14:00 +0000

The rush to reform healthcare is turning into an obsession for the people behind it. Their message is clear: get on board or the train is leaving the station. Taking such a stance might work in other cases of change management. I facilitated one on managed care in the mid-90's. It was my job and it had to be done. It became evident to me, soon after, that such a change was not in the public interest because the focus was on the bottom line. Still is. I should mention that I was out of that league really fast. Taking care of the concerns of Main Street is what I do now. I expect the same of our elected officials, aka public servants.

It is plain to see a parallel here and I just have to question the urgency to pass the healthcare reform bill this year. The effects of managed care have contributed to the complex problems in healthcare. The proposed bill does not provide clear and specific answers to people's concerns. The sales pitch is coverage for the uninsured and the unhappy insured and the details will be worked out later. Is it really the public interest that matters or that of special interest groups?

All sectors of the healthcare industry, not lobbyists, should be represented at the table to give legislators a clear picture of our healthcare system, its impact on the economy and public welfare. More importantly, get a representative account on the plight of the uninsured and concerns of the insured. You can't go wrong getting the information directly from the horses' mouth. Do all these now through December and rework the bill next year. How could that hurt the public good?

For me and Main Street, saving social security should be top priority.

http://riyah6.blogspot.com/

Palin quits to make it right- go for it

noreply@blogger.com (zoni) — Sat, 04 Jul 2009 02:47:00 +0000

Action speaks louder than words - way to go! Alaska should be proud of their governor. It is time to open our eyes to what lies ahead and it is not pretty. I am very concerned for my children's future. It just might be that we need Sarah Palin to move mountains.

It was high time that she spoke up; she has been unfairly beaten up. Her surprise announcement was a blow to those who constantly put her down. They are all bothered and bewildered now. Sarah Palin's boldness serves them well.

I will be watching Sarah Palin's next move.

http://riyah6.blogspot.com

AIG did well for the financial services industry

noreply@blogger.com (zoni) — Mon, 23 Mar 2009 05:51:00 +0000

What's playing before our eyes is exactly what I had written about in earlier blogs. We have legislators who write laws and know very little about what it is they are doing. Picture this - someone introduces a bill, discussions ensue, votes taken and the bill passes or fails. This may sound simplistic but one can only imagine the time spent on these proceedings and the amount of legislative work performed behind the scenes. Ever catch the legislators walking around or nodding off to slumber land? Even worse, think of the reams of paper going through the printers with thousands of copies for distribution only to be revised, discussed over as a matter of procedure as nobody reads them anyway.

Guess what, as the government gets bigger, the dysfunctional system as we now have it, will eventually collapse. I would like to believe that this country has well-intentioned leaders who care to leave a legacy for our children and their children. Why can't the focus be on what lies ahead for them? It is critical to move on productively, get rid of self-serving interests and live the Golden Rule.

It is a fact that we are faced with a number of issues. However, we know that when faced with multiple concerns, we need to prioritize. Why is it so difficult for the administration to take one problem at a time? Is it more important to deliver on promises made during the campaign at a time when we are in the midst of a crisis that's begging to be addressed? How can you win over Main Street who is hurting and needs relief? Perhaps Tim Geitner should step down and allow Eliott Spitzer to take over. Perhaps it is time for the president to consult with those who have served before him. We now see that experience does matter.

Undoubtedly, this financial crisis should bring about more than a paradigm shift. But make no mistake to have the government dictate the changes. The financial services industry, collaboratively, must change the way they do business, from product design to market and distribution with financial products that serve the best interest of the customer and not the company's balance sheet. I think that bonuses if awarded at all should be dependent on whether the customer's interest was well served. Bonuses and extravagant trips spur greed and consequently ignore doing what is right for the investor whose only goal is to have a more secure future.

http://riyah6.blogspot.com

Financial bailouts needed for economic recovery, so they say

noreply@blogger.com (zoni) — Wed, 25 Feb 2009 15:27:00 +0000

That's the gist of the President's 52-minute address last night. After all these months of economic turmoil, the powers that be cannot clearly define a plan of action. Too many cooks in the kitchen? Elected officials with self-serving agendas? Legislators in the business too long that all they do is conduct hearings and introduce more legislation?

In the meantime, Main Street continues to suffer. Raiding the taxpayers money in government's custody deprives our children of hope for their future. Retirement assets that were diligently accumulated knowing that Social Security might not be there are close to becoming depleted. 529 plans designed to fund college education no longer can be relied upon. Credit variable finance fees are climbing up, how can consumers look forward to the day their accounts are finally paid in full?

Playing into the emotions of the taxpayer effectively sells the big picture which is - more government spending laced on the fringes with tax cuts in the form of reduced payroll taxes. Do you really think that the taxpayer will get some relief?

Financial bailouts have to stop. Give an inch and they need a foot. Help one and not the other. You just can't tell Main Street that it needs to be done and oh, Mr. Biden will police the banks. Just what we need, more regulations on top of a system that is falling apart, if not already broken, as a result of excessive regulations and lack of enforcement.

Paraphrasing Paul McNulty of Pimco, he said that the economy is now in intensive care and the government holds the scalpel to do what needs to be done. No sir, on the contrary the conditions are far too critical to simply forge ahead and take a stab at it. Since Mr. McNulty advises the administration, he should instead recommend to move the patient out of intensive care to another facility.

Why not create an independent agency that will absorb and handle all mortgage-backed troubled assets, deal with foreclosures and at risk property owners? Funding the costs to set this up will certainly not be in the trillions and the taxpayers can hold the government as the sole entity responsible for effective management.

I am not a proponent of Starve the Beast but it seems that the Beast is sitting at the "all you can eat" table. Has the Beast called Jenny yet?

http://riyah6.blogspot.com