Do Americans approve of lobbyist? Why is this legal bribary accepted?
How is it possible that we as Americans complain about president Obama golfing but not about the legal bribery of our representatives where some lobbyist spend a million dollars a day on influence pedaling?
Finally America has awakened to the huge scam called the Federal Reserve bank, a privately held institution that is not taxed or audited so will we wake up to ending lobbyist and having our elected officials vote for what is right instead?
It is due to lack of interest or the “give me mine” attitude from the past 30 years. The Yuppies got rich lobbying, their offspring went to college then became involved and now we have young voters motivated by what was sent to them in a text message from lobbyist.
Go figure, but heck, you can’t change the saddle when the horse is running.
How long should you keep monthly Bank Statements? also, monthly Brokerage Statements?
I have ten (10) years of monthly brokerage statements and five years of monthly bank checking and savings statements. According to the IRS, you need to keep your Federal Tax Returns and related documents for at least five years. However, is it ok to only to just keep yearend financial statements?
That depends upon you and the level of documentation you want for the following purposes:
IRS charges you with fraud (they can go back 7 years).
IRS audits you (they can go back 3-5 years).
You suddenly discover your account was improperly credited.
You need to establish the cost basis for your stock investments when you finally sell them.
The bank on the corner, which since interstate bank ownership that idea may no longer exist. Mean commercial bank that accepts deposits with FDIC insurance. By law where they not prohibited from getting into speculative investment banking, so investment banks were created, which were to go bust if they did not work. The risk they took for deregulation. At one time there was law that prohibited deposit accepting banks from exposure to investment banks. Sear could not start bank because of insurancebusiness. What happened to that law? When Bank of America goes belly up why should tax payers come up with one cent.
Should slogan to big to fail be replaced by– To risky to save.
Whoa. Your question is a bit hard to read and it sounds like you’re pretty P.O.’d. I think you are referring to the Glass-Steagall Act, which was repealed by Bill Clinton’s administration in 1999.
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What is interest when it says “Compounded and applied monthly?
I am looking into opening a money market account. I haven’t spoken with the bank yet directly because I am deployed and in Iraq. It states in the description of the account that “Interest is compounded weekly and applied monthly”.
Does this mean, say I invest 10,000, at 3% interest my first month would generate 300, and my second month would generate 303, thus at the end of two months I would have 10,603?
I keep searching for calculators online, and every calculator I can find only applies interest yearly, so at the end of 12 months the calculator is showing an total savings of 10,300 for a 3% interest.
My confusion comes in when I notice that all over the web all I am able t find is interest applied yearly, but the wording on my banks money market account hints that it is in fact, applied monthly.
Can anyone explain this process to me, and if there is a calculator on the web that would be useful, please point me to it?
Thanks!
There’s not a huge difference between compounding weekly and monthly, unless of course, you’re dealing with big numbers. You can see the difference here…
It’s an exponential formula with the number of compounding periods as part of the exponent. With regards to your question, compounded and applied monthly is the same as compounded monthly.
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