Last night, Sixty Minutes ran a story about the CFMA and how it essentially allowed gambling on stocks, commodities, real estate loans, etc. This is one of the prime reasons the economy failed.
If you look up Commodity Futures Modernization Act on Wikipedia, you'll find one of John McCain's financial advisors is former senator Phil Graham.
The House and Senate bills were included in an omnibus spending bill without any debate and I suspect many members didn't realize it had happened.
My question is: Can McCain fix the economy with advisors like that?
60 minutes:
http://www.cbsnews.com/sections/60minutes/main3415.shtml
Monday, October 27, 2008
Thursday, October 23, 2008
Social Security
Looking at the financial mess happening around us now, aren't you glad President W wasn't able to fool us into putting our Social Security retirement funds in the stock market?
College Financial Homework
The idea is to figure out the links among Boards of Directors in corporate America. Executive pay is clearly out of control and the people who should reign it in are the boards of directors. Problem is, many board members are executives in other companies whose board members run other companies. This leads to an "I'll scratch your back if you scratch mine" scenario where boards approve high exec salaries and perks because those well paid execs sit on their companies boards.
So, class, your assignment is to write a web spider to crawl through corporate America's websites and collect the names of execs and board members and build a multi-node graph that, er, connects the dots. Seeing how interbred the companies are should shed some interesting light on this problem.
So, class, your assignment is to write a web spider to crawl through corporate America's websites and collect the names of execs and board members and build a multi-node graph that, er, connects the dots. Seeing how interbred the companies are should shed some interesting light on this problem.
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