overcharges

There has been some movement on the overdraft legislation front. Bowing from pressure from consumer groups and Congress, the federal reserve announced yesterday that a new rule will go into effect July 1 2010 that limits banks from charging overdraft fees to those customers who approve them to do so. A story (below) in the Huffington Post follows up with more detail.

http://www.huffingtonpost.com/2009/11/12/overdraft-fees-require-cu_n_355442.html

Call your Congressman and tell them how you support this upcoming rule!It might make them further understand what is really going on!

New Yorker article

Hey

I read an article from The New Yorker that covered the financial situation. I enjoyed the detail and specifics covered. I think the article gives the reader a better understanding into what was going on. The article was written by James Stewart. I follow his article in StreetMoney.

Now since a subscription is required, I cannot post the site here. But here is the abstract that they provide. I strongly suggest that you read this article. If you do not like the New Yorker past this article or cannot afford the subscription, there is always the library.

Enjoy.

Vanity Fair article on Paulson

Hey

I recently read a very informative article about Henry Paulson in this month's Vanity Fair. The author, Todd Purnum, was able to get sort of a play by play during his term as Secretary of The Treasury. The article was also able to shine a light Paulson's take on the job, why he took the job, and what he was going through during the crisis. The article has enough detail to engage the reader but not too much to bore the non financial individual. Congratulations to Todd Purdum on writing this. I hope you enjoy!

investor - speculator

I think that there isn't much of a difference. In our long run, it is all speculation. So don't let other media outlets fool you when they discuss what "investors" are doing.

Goldman's Monopoly

Hey

With CIT failing, does Goldman have any competitors of scale?

Bank of America...literally

Hey

It was recently reported in a story from Bloomberg Magazine that Blackrock has been given a lot of the management contracts for the bank bailout.

The conspiricy theorist in me wonders whether this was because of the fact that Bank of America took on Merrill Lynch. I would have thought that JP Morgan or Goldman Sachs would have been a better fit.

Anyway, I think this is a positive area of revenue and profits overall for Bank of America as they figure out the Merrill Lynch mess.

Dislosure - I do not own any of the stocks mentioned in this story at this time.

Call selling blog

Hey

I have moved the call selling blog to Call Selling Blog. This is where info on trades from the call selling account will be located.

Peace