Piggy Banks

It’s A Banker’s World. We Are Just Living In It

If you watch the nightly news or listen to any of the political talk shows you will hear that the major banks in the United States have paid back all the borrowed money from the Troubled Asset relief Program(TARP) to the U.S. government. The media is now telling the American taxpayer that the government made a good investment and the overall cost was just $50 billion.

Are these people crazy when they say these things? It is true that the major banks did pay back the TARP money, however, it was with the taxpayer’s money. It is very important to understand that the ‘too big too fail banks’ can borrow as much money as they need from the Federal Reserve Bank at zero percent. Essentially, this is free money that is created whenever it is needed. These same banks then go out and buy stocks, U.S. Treasuries, and other high yielding investments. They also operate a very profitable credit card business where they charge the average customer 16.75 percent. It’s not a bad business when you think about it.

These banks also pay you, the customer, an average of less than 1/10 of 1.0 percent on your savings account money that you keep at the bank. They can then take your money and buy stocks, bonds, and other investments to make money on your capital. Hopefully, you have noticed that I have not mentioned the bank making a single loan yet. Loans are just a small part of the business and these days the major banks will barely make a loan to the average person. The bank will usually loan money to a major corporation such as International Business Machines Corp.(NYSE:IBM), or Microsoft Corp(NASDAQ:MSFT), just to use these companies as an example.

It is also very important to remember that the ‘too big to fail banks’ face less and less competition. In 2010, there were 157 bank failures in the United States. In 2011, there is expected to be another 150 failures across the county. Please realize that the major banks also bought out a lot of there larger competitors for pennies on the dollar. J.P. Morgan Chase & Co.(NYSE:JPM) which is considered the best of the ‘too big to fail’ banks bought the investment bank Bear Stearns Corp. for $10.00 a share. Originally, the price was just $2.00 a share. Later, J.P. Morgan Chase purchased Washington Mutual for just $1.00 a share. Wells Fargo & Co.(NYSE:WFC) bought Wachovia Corp. for $7.00 a share. Bank of America Corp.(NYSE:BAC) purchased Countrywide Financial for $5.00 and Merrill Lynch for $27.00 a share. The competition for these banks has simply dissolved through failures and consolidation.

What ever happened to all the toxic bank assets that they hold? The answer to this question is simply nothing. The banks still hold trillions of dollars worth of toxic assets. Some of the toxic mortgages that they hold they sell to the government agencies Fannie Mae, and Freddie Mac. Again the taxpayer foots the bill for these banks. These ‘too big to fail banks’ simply do not have to write the toxic assets down as liabilities any longer under the new FASB accounting rules. They can use Enron accounting as long as they see fit. It must be nice to have the rules changed whenever you need them to be.

The last point that must be made about these banks is how they are now imposing fees on almost every service depending on the amount that you keep with them. Many people are just going to start putting their money under their mattress as the banks continue to bully the customer. It is bad enough that the people with a savings account can’t even get any interest on their money. Well, now you can see that it is a bankers world and we are simply just living in it.

Nicholas Santiago
InTheMoneyStocks.com

About the Author

Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

Man Feeds Bird could get 90 Days.. Obama on Tour.. Dow Drops 512 points..EXTRA EXTRA

Global Treasures PRAGUE Praha Czech Republic $1.99 …

Global Treasures PRAGUE Praha Czech Republic $11.96 …

Water Wars: Privatization, Pollution, and Profit $15.00 While draught and desertification are intensifying around the world, corporations are aggressively converting free-flowing water into bottled profits. The water wars of the twenty-first century may match—or even surpass—the oil wars of the twentieth. In Water Wars: Privatization, Pollution and Profit, Vandana Shiva, “the world’s most prominent radical scientist” (the Guardian), shines a light …

what is the maximum limit of interest income from a bank branch to submit form 15g ?

what is the limit for submitting form 15g in a bank. is it applicable for more than 50000 interest also

form 15g is a declaration only. if you get interest upto any level you are declaring to submit it in IT returns that is all

Umpqua Bank’s Branch of the Future

Bank Of Usa Closes Doors Photo Mugs Financial crisis in America crowds form outside as the Brooklyn branch of the Bank of the United States closes its doors ….

ye banks and braes LP $15.00 …

Firewall (Full Screen Edition) $1.32 JACK IS A BANK SECURITY EXPERT WHO HAS DESIGNED THEFT-PROOF FINANCIAL COMPUTER SYSTEMS. BUT THERE’S A HIDDEN VULNERABILITYIN THE SYSTEM HE DIDN’T ACCOUNT FOR – HIMSELF. WHEN A RUTHLESSCRIMINAL MASTERMINF KIDNAPS HIS FAMILY, JACK IS FORCED TO FINDA FLAW IN THE SYSTEM & STEAL $100 MILLION TO PAY THEIR RANSOM….

Brothers in Arms $2.33 A tale of revenge in the old west.Genre: WesternsRating: RRelease Date: 4-SEP-2007Media Type: DVD…

The Great St. Louis Bank Robbery [Slim Case] $0.01 Steve McQueen stars in this film noir classic retelling of the infamous 1953 St. Louis bank robbery. Shot at the actual scene of the crime in St. Louis and delves deep into the personal lives of the men behind the masks. Utilizing the talents of the local citizens and police force, the film recreates the crime as accuarte as possible. A small piece of a small town’s history, the film is an emotion…

United States NAVY Piggy Bank Safe Stoneware Savings Money Cash Box with Coin Slot $19.99 Dark blue stoneware piggy bank with circular Navy decal logo. GREAT GIFT IDEA!…

Fireman Red Piggy Bank Safe Stoneware Savings Money Cash Box with Coin Slot $19.99 Red stoneware piggy bank, featuring the Maltese Cross firefighters design on its side….

United States ARMY Military Piggy Bank Safe Stoneware Savings Money Cash Box with Coin Slot $19.99 Army green stoneware piggy bank with circular United States of America Department of the Army decal logo. GREAT GIFT IDEA!…

Business Law: The Ethical, Global, and E-Commerce Environment $130.00 Mallor, Barnes, Bowers and Langvardt’s: Business Law: The Ethical, Global, and E-Commerce Environment, 14e is appropriate for the two-term business law course. The cases in the 14th edition are excerpted and edited by the authors. The syntax is not altered, therefore retaining the language of the courts. As in recent previous editions, the 14th edition includes a mix of actual AND hypotheti…

Murder at the Jersey Shore $2.99 Three full length David Nance mysteries in one volume.Secrets Can Be Deadly As a single parent, David Nance’s mother is devoted to her son. When David finds her murdered on the eve of her sixtieth birthday, he sets out to avenge her death. His investigation uncovers a brain impaired baby born twenty-six years ago that had either been switched at birth or murdered. The mounting evidence forces Davi…

Towards A Common Financial Reporting And Financial Accounting Systems Framework For Nigerian Banks

THE NEED FOR COMMON FINANCIAL REPORTING  AND FINANCIAL ACCOUNTING SYSTEMS FRAMEWORK FOR NIGERIAN BANKS

Written By: Shafii Ndanusa  Abuja, Nigeria.

As the banking reforms in Nigeria progress from one stage on to another, each new situation presents its own challenges. While some likely fallout of the reforms can be forecasted with certainty, others emerge with the passage of time. The 31st December 2009 common year-end has become a reality. The banks have forwarded their draft financials to the CBN. The CBN needs to confirm the integrity and completeness of the financial reports before approving them. This presents yet another series of challenges for the Regulator as this time around, their can be no excuses.

One of the reasons advanced for the crises in some Nigerian banks had to do with inaccurate financial reporting. It was adduced that some loss-making financial institutions not only declared profits but paid dividends using depositor funds. The multiplier effect of such actions on the future financials of a firm/bank is at most imaginable. With the common year-end and the adoption of International Financial Reporting Standards, a golden opportunity has arisen for the CBN to rectify these anomalies.

First and foremost, it is important that banks send in their reports using a common financial reporting system framework. This will facilitate the comparison of a banks’ financial performance over time and against that of other banks and the industry itself. The risk-based assessment of financial reports is thus simplified. It might be necessary for the CBN to further improve the quality of banks’ financial reporting beyond what already exists.

Secondly, it is vital that the ‘target examination’ of the banks being carried out by the CBN in this wake does NOT simply focus on ascertaining data integrity. There is absolute need to also focus on each banks’ financial system integrity. While recalling the popular phrase of ‘Garbage In, Garbage Out’, data integrity mainly focuses on data accuracy and completeness while financial system integrity focuses beyond data to all the other key elements of the financial information structure. Financial system integrity is definitely more holistic and reliable. To this end, a set of parameters for ascertaining system integrity might be required. The financial regulator must avoid a situation of garbage in garbage out of financial data, as that will fundamentally make inaccurate any information derived from the use of such data.

In addition to the above, perhaps it is also time for the introduction of a common financial accounting system framework for Nigerian banks. The framework should recommend the basic foundations or elements on which the entire financial accounting infrastructure of all banks should be based. This no doubt will take into consideration the nature of banking services in Nigeria. Recommendations for the scope of the charts of accounts, account classifications, internal control systems, financial accounting software, operating procedures/manuals and the likes should be paramount in this objective. Most of all, it is important that the whole system is simplified.  

The Nigerian Government intervention which resulted in the injection of six hundred and twenty (620) billion Naira banking stimulus package is no doubt unprecedented. But the real challenge has to do with the implementation of the other remedial measures required to put the financial industry back on the path of recovery, growth and stability. Some of the above recommendations may represent necessary regulatory innovations. While some may argue that such measures will make the industry much more sophisticated, it is vital to note that if simplicity is considered as a guiding principle of the banking reform measures, complications are consequently eliminated.

Mr. Shafii Ndanusa is a Certified Chartered Accountant (ACCA) and Fellow of the American Academy of Financial Management (FAAFM). He wrote from Abuja. Nigeria.

About the Author

Certified Chartered Accountant (ACCA, U.K.) and Fellow of the American Academy of Financial Management (FAAFM, U.S.A.). He is skilled in both public and private enterprise financial management, business analysis/management, projects management, consultancy and statistical analysis.

The WikiLeaks Debate

Best Practices for Equity Research Analysts: Essentials for Buy-Side and Sell-Side Analysts $44.64 A real-world guide to becoming a top-performing equity analyst Praise for Best Practices for Equity Research Analysts: “Jim Valentine has taken his decades of experience as a highly successful security analyst and written an effective and comprehensive guide to doing the job right. I only wish I had this book by my side throughout my career.” — Byron R. Wien, Vice Chairman, Black…

Julie’s Gift: Memories of London $12.65 Kevin and Julie travel to London. Kevin loathes sightseeing. Julie is the quintessential tourist. Kevin ends up enjoying the trip but doesn’t tell Julie. He secretly writes a book about his fond memories to surprise her and express his love….

A simplified guide to bank call report preparation …

Will the G 20 decisions be able to plug the hole in our global sinking ship?

We need to answer many questions to answer the G 20 meeting’s objectives a) Is adding more trillions from various national pockets into the coffers of the IMF to kick start the world’s economy and stimulate demand the solution to global recession? (b) Can terrorism be eradicated without relocating Israel to pacify the muslims? (c) Afghanistan and Pakistan are undeniably the world’s terror epicentres with Taliban and Kashmir as their excuse.Pakistan is politically and economically unstable and needs to merge with India (like divided Germany) to find a solution, is it possible? (d) Can the drug cartels, tax havens be banished and Swiss Banking Secrecy Laws be amended(as Switzerland survives on world’s stolen money reserves) the answer is no then why this big massive contribution to a global piggy bank? Are the big 20s fooling the rest of the world and bidding for time themselves?

I think Barack Obama will be the worst President this country has ever seen. He will damage our nation in more ways than I have the energy to write about here. He is mired in PC fantasies and moral equivalences or grievances that will bring nothing but harm to every citizen of the world. Obama: the Politically Correct Internationalist Global Citizen.

It is scary to think that Obama – this thug from chicago, is huddled across the ocean with all the world leaders deciding our fate. When these leaders denounced Capitalism and blamed it for the worlds problems – did the American representative – Obama – DEFEND Capitalism? Did he defend our Constitution? Did he defend America and its taxpayers? The answer is a resounding NO!.

Obama is going to arrange it so that these world leaders will have control over America and our currency! If this isn’t enough to riot over – the throwing out of 200 years of American history – I don’t know what would be! America is on the verge of extinction and Obama is welcoming it with open arms. We are NOT responsible for the worlds problems – we are NOT the baby sitter to the world – we must right our OWN ship first before we can help others.

All these supposed “brilliant” world leaders gather together and the best they can do is the same old crap that Obama is doing – PRINT and SPEND – In a stunning move by all of these countries – who all have NO MONEY (except for China) – the G20 has decided to give $1 Trillion to the IMF – with absolutely NO ACCOUNTABILITY. So, which nations are giving and how much are they (you and me) giving? YOUR tax dollars are going to go to faltering nations – nations that could care less about America – this entire thought is sickening to me and throws the Constitution in the trash. Unless we stop this madness America’s future will be forever gone. o_O

Money Box -Eliza Doolittle – Studio Version [LYRICS]

Protect Yourself Against Identity Theft

In this modern digital age your identity and personal information have a value on the criminal marketplace. Once a criminal has got hold of your personal and private details, they can be used for fraudulent purposes. These in general cover the following activities, opening bank accounts taking out credit cards, loans, claiming for state benefits and applying for other documents such as passports and driving licenses. All of these fraudulent actions will be in your name. Criminals commit identity theft simply by stealing your personal and private information. The easiest, and most often way is done by taking documents (letters and bills) from your rubbish or by making contact with you over the phone and claiming to be from a legitimate organisation or business. Identity theft can result in fraud which will immediately effect your personal financial circumstances. It is also costing the government, banks and other financial services several million of pounds a year. If your are unlucky enough to have your identity stolen, this can have the result that you may have difficulty getting loans, credit cards or a mortgage until the matter is sorted out. Sorting out an identify theft problem can be a long a protracted process. There are a number of easy ways in which you can start to protect yourself against this global problem. Keep your personal documents in a safe place, preferably in a lockable drawer or cabinet at home. Consider storing valuable financial documents such as share certificates with your bank or other secure environment. You might even want to consider installing a home safe. They are a small price to pay for some piece of mind. If your either passport or indeed your driving licence has been mis-placed or stolen contact the issuing Government department straight away and let them know. Never ever throw away entire bills, shop receipts, credit-or debit-card slips, store card statements, bank statements, letters from your bank or even unwanted post that has your full name and address on it. Remember to destroy unwanted documents, preferably by using a shredder if you have one. If you do not have a shredder make sure you tear your unwanted post into small pieces. Check your bank and any credit card or store statements as soon as they arrive in the post. Try and keep and manual track of your card usage and if any unfamiliar transactions are shown on the statement, then contact the company concerned immediately and let them know. Be extra careful if you live in a shared property or where other people could have easy access to your post. In some cases a bank or credit card company can arrange for you to collect important and valuable items such as new plastic cards or cheque books from a local branch. Whilst this might be a little inconvenient for you, at least you can be sure that these items will not get intercepted. Finally, one that most people tend to forget or leave until it is too late, if you move house, tell your bank, tell your card issuer and tell all other organisations and business‘s that you deal with immediately or your change off address. You can also ask the Royal Mail to redirect any mail from your old house address to your new house address one for at least a year. All of the above tips will go some way in helping you to protect your identity and most importantly prevent criminals from committing fraud in your name.

About the Author

For all your Electronic Security needs. net2desk – Professional services. Extensive product range and very competitive prices.

14_February 5, 2010 Fifth Estate Expose: Earl Jones and the Royal Bank of Canada – The True Story

2600 Films: Freedom Downtime (Complete)

How You Can discover Highest CD Rates

Getting knowledge how one can discover highest CD rates often is not very difficult with a bit of leg perform and finger work. However, it can be crucial that you simply discover the best CD rates to maintain ahead of inflation. This is a issue that every saver is going through nowadays. The whole thing close to us is getting more pricey, but bank rates continue falling.

For those that have pal at a financial institution like a bank or a credit union, ask them about what their office offers. Getting inside assistance at times and this is a kind of times helps. These people are in the top status to find out what’s available or they can find out.

Check Out The local Bank CD Rates

In case that possibility is inaccessible to you, then check in the localized newspaper for what is available locally. There are several localised financial institutions that do not publicise their rates online because they are only for the local sector.

I have found a few of these that are classed as only available to residents in some counties of specified states, so look at all the localised financial institutions previously browsing on the internet.

On the web Bank Rates

Certainly there is online using the online. Just write “Highest CD Rates” in the search engine. To get best results make use of both Google and Yahoo. It does make a difference. Not really each and every site had both and since the website has to be submitted to the search engine, you never know. You need to cover all bases. Doing your studying is the most important thing.

Above all before investing ensure the CD you are about to make your investment with is covered by the U. S. Government. This is done by the FDIC. For a normal account$ 100, 000 is federally insured. For an ira$ 250, 000 is protected. This is very important. With no this insurance as well as the financial institution fails, money is gone.

Finest Ways to Discover the Highest CD Rates

One of the best way to discover the best bank rates, TD Bank CD Rates, Highest CD Rates is to check out  – http://highestcdratesinfo.wordpress.com

About the Author

Author writes regularly about investment and finance topics. To know about more about Highest CD Rates, Current CD Rates, Best CD Rates, Bank CD Rates, best money saving options, TD Bank CD Rates, Chase CD Rates, Bank Rates and CD Rates from Author visit – http://highestcdratesinfo.wordpress.com

CD Rates

Marketer Referral login to CRISP Mortgage LO Realtor’s Client portal Login

HTC Flyer Tab PvaWorld Giveaway! Ends 15th September 2011

Banks iQ Dashboard PC with SpeedBrake from Banks power ID7295

Pro Comp 61151 2.0 Front Leveling Kit for Dodge RAM 1500 02-05 $145.69 Raise your truck’s front end from 1.5-2.5″ with these heavy-duty leveling kits. Lifetime warranty….

Banks 61145 Tuner for Chevy 6.6L ’06-’09 $496.44 The Banks iQ is a True In-Car PC Packed Full of Functions and Applications for Use Inside and Outside of Your Vehicle. No other device on the market can match what we’ve put into the Banks iQ. This powerful micro-computer lets you know the inner workings of your vehicle’s ECU letting you see what’s beyond your dashboard gauges. You select what you want to see and how you want to see it. Set alarms…

Banks 61155 Tuner for Chevy 6.6L ’08-’09 $495.57 The Banks iQ is a True In-Car PC Packed Full of Functions and Applications for Use Inside and Outside of Your Vehicle. No other device on the market can match what we’ve put into the Banks iQ. This powerful micro-computer lets you know the inner workings of your vehicle’s ECU letting you see what’s beyond your dashboard gauges. You select what you want to see and how you want to see it. Set alarms…