Tag: Financial reform

Oh Boo Hoo

Fortune Magazine tells us that “For banks, it’s getting harder and harder to earn a buck.” That’s because interest rates are so low. Or at least that’s what “conventional wisdom” would tell us. Please cry for the banks and demand higher interest rates!

Not so fast. If banks are having such a hard time making an “honest” buck, then how come “U.S. bank earnings rose 21% in the April-June quarter and lending to consumers increased, adding to evidence that the industry is strengthening four years after the financial crisis.” Turns out there’s actually a good reason the banks are doing so well:

That’s because most of them have increased the historic spread between the interest they charge for mortgages and the interest they have to pay for their own borrowing and, of course, the now minuscule rates they pay to folks with savings accounts. As a result, according to a recent news story in the New York Times, bankers are enjoying ballooning profits from their mortgage business.

If the banks were using the formula that was in effect up until a couple of years ago, the 3.55 percent rate for a 30-year mortgage would be close to 3.05 percent. Or, they could increase the rates they pay savers by about a half percent.

So yeah, the gap between “what they pay you” and “what we pay them” got bigger despite mortgage rates near record lows.

I hope Fortune Magazine isn’t hoping for a subscription fee from me anytime soon.

In Closing:  you might want to disable Java; trying to change the law without bothering to involve lawmakers; 14.8% of Americans are on food stamps; and Boehner admits that the easiest way to win is for poor people to stay home on election day.

Practice Makes Perfect

I have a degree in music. Many hours of my life have been spent practicing piano, voice, and flute. Many more hours of my life have been spent leading others in rehearsal. Moreover, I have spent yet more hours of my life practicing physical activities such as yoga, weightlifting, dance, and drama. I know a few things about effective practice and rehearsal.

My current occupation has skills that must be practiced as well. We even have scripts to read and use. Whenever someone has to explain something many times, a script naturally develops. If you check in on a math teacher’s classroom, you will find that she has her own way of explaining concepts, and that she does it almost exactly the same way every time. She may not know it, but she has developed a script. Even when she gets derailed by a question, she will give an answer and then return to the unwritten script. Some people think they are above the use of scripts: “it sounds stilted” or “that’s not me.”  Actors use scripts every day: they work to make them not sound stilted, and they are paid to be someone other than themselves.

Just like some movies are better than others, some scripts are better than others. The math teacher in room 101 may have better scripts than the teacher in room 102, and her students learn more as a result. Which would you rather use: an organic but untested script, or a carefully developed and tested script?

Realtors generally don’t like to use scripts, or at least ones they are aware are scripts. Real estate trainers, on the other hand, are big on the practice and use of scripts. Trainers insist — and rightly so — that these scripts are proven to work, and will practice they will sound natural. However, first you have to learn the script. This goes beyond knowing what the words are and what they mean. It must be internalized, so the next line is the most natural thing you could possibly say: yes, just like “who’s there” naturally follows “knock knock.”

Recently, a trainer advocated “internalizing” by reading the script as quickly as possible and/or in funny voices and accents. I could not disagree more with this approach. The natural tendency is to perform in the same manner that we practice. For example, I once had to break a performer of doing a funny walk between music stands. He’d always done it that way in the practice room, and now he was unconsciously doing it on stage!

Practice itself does not make perfect. Perfect practice makes perfect.

In closing: 500 new fairy tales; fact checking; the TSA is a security risk; national debt; an excuse to keep people in prison past their sentences; federal deficit; and Too Big To Fail.

The Cabin in the Shorties

Gee, no kidding: When young people pay all their money on student loans, they don’t have money to take out mortgages.

Separate but Equal?: On women’s workouts.

I hate agreeing with Kip: I’ve said a lot of things about former TSA director Kip Hawley over the years, but the Kipster is making sense these days. Among other things he says that there cannot and will not ever be a get out of the security line free card, even though he wanted to make it happen. Turns out that he’s starting to agree with Bruce Schneier at times.

They can only get away with it because mostly poor people ride the bus: Houston is going to put undercover cops and TSA officers on buses to paw through bags, report suspicious activity, and “interrogate” passengers. Where are they getting the money to pay somebody to ride the bus all day?

On the standard of living and the dual income family: Making twice the money but barely having the same standard of living means we are half as well off. Tricks of counting inflation are partly to blame. Of course, some moms (and a small number of dads but CNN doesn’t mention them) are finding that the costs of working can completely devour a paycheck. This is particularly true when the pay gap between men and women is taken into account. Oh, and when the minimum wage is worth less than in the Johnson Administration (when, by the way, the highest tax bracket was much more than it is today).

How nice for them: Bank of America is making money hand over fist again.

Peeing in a Jar: It turns out that Florida‘s drug screening program for welfare applicants was a big waste of money and found drug use rates roughly a third what they are in the general population. Funny, when you barely have money for food you can’t afford weed.

Don’t panic: Yeah, chicken sometimes has E.Coli in it. That’s why you don’t see Chicken Sashimi at your local sushi bar.

It’s back from the dead: Bowles-Simpson. I have a better idea: repeal the tax cuts that gave us a budget problem in the first place, and bring troops home from places they don’t belong.

More than 100 to 1 against: Corn producers want to change labeling of high fructose corn syrup (HFCS) to the more benign sounding “corn sugar.” They can’t change the fact that some scientists consider it “unsafe for human consumption.” Consumers don’t like the idea.

Let’s Go!: The literal translation of this blog’s title, Ikimashoo.

Right, cause there’s no discrimination any more: Romney thinks it might be time to get rid of the Department of Housing and Urban Development. Never mind the other things HUD does. Never mind the portfolio of FHA foreclosures.

Money Quote: “First, if suburbanites with above-median incomes are big fans of a program aimed at helping minorities and the poor, it’s a safe bet that it’s not actually helping minorities and the poor.”

And finally: Crime must not pay.

The Decline of the Butcher Counter

When I was a kid, any decent grocery store had a butcher counter. The butcher was there every day. He could help you pick a cut of meat for your recipe, or grind some beef for you, or get “specialty cuts” for you. If you only needed a small roast and all that was out were big ones, he could cut a big one down for you. And of course, he always had lollypops for little kids. Of course, some things were out of his realm — bison, lamb, venison, kosher or halal meats for example — and for that you’d have to go to a specialty butcher shop.

A lot of grocers still have something they call a butcher counter, but it’s not what it used to be. Most of the meat that gets sold comes to them already packaged and ready for sale. A small amount of meat is in the counter, mostly common items like ground beef and chicken breasts, and sale items. The “butcher” is also responsible for the meager selection of seafood, often half of it pre-cooked shrimp in various sizes, along with seasonal items like salmon in Springtime. The “butcher” himself knows cuts of meat, but he’s unlikely to know much about meatpacking. I really only know one traditional grocer in town that has a real butcher, and that’s a kosher butcher in a heavily Jewish neighborhood. Ask him about chopped liver and you’ll get a regular dissertation.

Some stores don’t even have that much. Just try to find a butcher in a Wal-Mart Supercenter or a Fresh And Easy. Every bit of meat arrives shrink wrapped, much of it half-frozen. What’s in the cold case is what they’ve got. The end.

So this brings me to an interesting discovery. Some ethnic markets still have actual butchers! That’s right, a human being who hacks up cows and chickens and pigs and sells the parts. I don’t worry about “pink slime” in the ground beef from my local Asian grocery store, because I have every reason to believe there’s a guy dumping chuck steak into a grinder in the back. Because most of the clientele isn’t interested in traditionally Western cuts, things like sirloin and filet mignon are downright cheap. This particular store even has a fish counter where you can buy frozen or fresh seafood (some of it still swimming). And as if that’s not enough, the produce is fresh, plentiful, and inexpensive. We also have a terrific Hispanic superstore that has a whole section devoted to different kinds of bananas. Shopping at these alternative stores is also a great way to stay away from heavily processed “Standard American Diet” foods.

So do yourself a favor: head out to your local ethnic market and see what they’ve got. You might have a new favorite grocery store!

In Closing: she doesn’t post often but she’s interesting; two views of the Apple ebook case; I really don’t want to step into the latest round of Mommy Wars; guerrilla gardening; GOP says we don’t need any consumer protection; counter-intuitive; and Sakura.

Climbing the Mountain of Paperwork

This week’s Life Well Lived question is:

How do you organize paperwork both online and off? Share your tip(s) to managing physical and digital clutter!

Be sure to visit BlogHer’s main post on the topic and add your comments. While you’re in the area, don’t forget to enter the current Life Well Lived sweepstakes.

I will be honest. Stuff tends to pile up on my desk. Thankfully, my brokerage has a really great digital document storage system to help me keep that stuff organized properly.

File folders are great things. Heck, folders in general are great things. It makes it a lot easier to keep related items together: bills to be paid, receipts, tax documents, Christmas cards, appliance manuals, whatever. When you’re done, it goes into a filing cabinet where it’s easy to find right up until the day you don’t need it any more and can shred it. Pro-tip: label folders with a fine point marker or permanent ink pen and do your best to make it easy to read.

This still leaves a pile on the corner of my desk that I must go through and ruthlessly prune about once a month.

I organize email with folders too. A folder called “Receipts 2012” contains exactly what you think it does. Maybe there’s one called “Smith” that has all my correspondence with a client named Mr. Smith. It also contains scans of his documents and emails back and forth to the title company. And once my transaction with Mr. Smith is done, the whole folder gets archived.

I’d like to say my hard drive is that well organized. Thank goodness OSX does a lot of this stuff automatically: apps end up in the “Applications” folder without too much effort on my part. “Downloads” go into the right folder unless I specifically save it elsewhere — and yes I periodically have to purge that folder.

So that’s my tip. No fancy organizers beyond a vertical file holder on my desk and a filing cabinet in my home office. Cheap and easy to implement.

In Closing: Jon Lovitz 3, anti-Semite teenagers 0; 6000 Japanese vocabulary words; War on Drugs is a failure; drone on; life in space may have come from Earth; security theatre; no kidding; follow up on unlicensed doctors; tornado alley is bigger, climate change deniers blame almost anything but climate change; over 1 in 5 health care dollars spent is because of obesity; and no, it’s not illegal to use a cell phone while driving in Nevada! It’s illegal to use one without a hands free device.

Stephen King’s Bag of Shorties

Red Meat: Well sure, if you’re willing to call a double cheeseburger “unprocessed red meat,” maybe red meat is bad for you. I also liked the fact that the same questionnaires that “prove” the connection also say that 1/5 of women make do on 1200 calories daily — that would be a bare minimum for somebody trying to lose weight, not something sustainable. Think just maybe some people weren’t quite reporting the whole truth?

It turns out that 100% of rapes are committed by rapists: Don’t rape.

Bruce Wayne: Has a hard time at the psychologist’s office.

Senator Lugar: Well, is he a resident eligible to run for Senate, or is he a non-resident who can’t vote?

His name is disgusting: Mr. Santorum thinks Puerto Rico should learn some darn English already so they can become a state! Ok, he actually said they have to make English and only English the official language, and they need to have a “common language” with us whiteys normal Americans. What makes him think they want to be a state? Pretty blatant example of a conservative expressing the idea that “those brown people would be so much better off if they did things my way!” Now he can’t decide if he wants to stand by the comments or not. mmWaffles.

So you want to be a blogger?: Here.

Deregulation: Doesn’t work (HT).

There’s no point arguing with crazy: Ornery Bastard colorfully and succinctly says what many think about the GOP.

Viva Las Vegas: House sales up. That’s right, I said up. And people are noticing.

Glad I’m not in Arizona: Proposed bill would allow employers to ask women if they use The Pill and fire them if they don’t like the answer. Never mind medical privacy. No word on whether they’ll ask men if they take erectile dysfunction meds. Guess they aren’t expecting a lot of women voters. Maybe the next proposed bill is to disavow the 18th Amendment.

If only just Arizona were the problem: Thankfully we have some uterus-having Legislators helping bring balance and/or silliness to some of the anti-woman bills.

Double-you tee eff: An officer but not a gentleman.

Hail Britannica: Someday kids will look at you funny when you talk about an encyclopedia being a big set of reference books that many middle class families owned.

What??: Hotel pools must close or install wheelchair lifts.

You know there must be candy and rainbows for bankers in the foreclosure fraud settlement: JP Morgan Chase announces a hike in the dividend. The investors go wild.

Crash the system: Refuse a plea bargain. Insist on your Constitutional right to a jury trial.

Nixon in Love: Turns out he was a bit of a romantic. Who knew.

I see it around here: More people using public transportation. And as a result, more people walking, at least locally. I think it’s a good thing.

Eastern Germany: Check out the before and after pictures by clicking the pic at top.

ShortWoman’s Musings on Travel

Last week, I was out of town. Having grand adventures. You know, the usual. I’m home, and things are back to normal, so let me tell you what I think about travel.

On Packing: Pick your battles when it comes to your quart zip-top bag of liquids. Would it kill you to use the shampoo you’ll find in the hotel? Don’t forget to pack sunscreen. Really.

If it’s big enough or heavy enough to need wheels, it is by definition not a carry-on.

Rolling pants and most other garments takes up less room and means fewer wrinkles.

Think carefully about how long you’ll be gone and what you’ll really need. After all, you’re going to have to carry it.

On Airports and Airlines: Do everyone a favor and have your ID and boarding pass ready to go when you get in the security line. Already be prepared to go through the probe-u-later. Be polite as long as feasible. And seriously, don’t even joke about terrorism or bombs.

No, U.S. Air, I am not paying for your overpriced food.

The Airbus A321 has the worst overhead storage I have ever seen. Somebody decided that it’s more important for a 6′ tall man to be able to stand than for anybody to have a carry-on bag. The more I travel, the more I like Boeing.

The only thing I like about Phoenix Sky Harbor is that it’s called “Sky Harbor.”

Cancun, on the other hand, has a very nice airport. Clean, well laid out, plenty of room near the gates, huge duty free shop, decent food. Oh yeah, and a Margaritaville.

On Mexico: I understood Montezuma’s Revenge before I even made it through customs. The sink in the airport bathroom was labeled “NON-POTABLE WATER. DO NOT DRINK.” In English, I might add. If a sink is not labeled “POTABLE,” don’t drink that water. It’s simple.

I’ve come to the conclusion that if you are willing to stick to areas frequented by English speaking tourists, you will need very little Spanish. This may hold up in other countries as well.

The Cancun Hotel District looks a lot like the Las Vegas Strip: lots of luxury resorts, lots of palm trees, high end malls, the occasional convenience store that looks like it’s been there for decades. However, the big difference is that Cancun has more pyramids.

Lots of shopping, yes. I think the only things I could have bought there that I can’t get here are Cuban cigars and Cuban rum (which is yummy stuff). And since I can’t bring either one home, not worth bothering.

Going out to Isla Mujeres was much more like visiting a foreign country. Be aware, the shopkeepers will see you getting off the boat.

Step out of your comfort zone and eat what the locals do. You’ll be glad you did.

Tip well around your resort and you will be remembered for it.

And one last thing: You never know who you will run into when you travel. Be aware of opportunities to meet people, or at least say hello to people you know.

In Closing: hilarious; small Mercedes coming soon; must read explanation of “not in the labor force”; Occupy Ports; a battle that was lost by 1978; and Jesus approves this message.

Breaking the Shorties

Otherwise Occupied: the OWS movement may actually be getting somewhere. It was really a bad idea to seriously injure a Marine, because they are serious about Occupy. Someone who can’t tell the difference between an enemy who wants to hurt you and an innocent that does not want to hurt you shouldn’t be allowed to carry a gun. Don’t forget other ways to peacefully protest the banks.

Maybe that wasn’t a good idea: B of A is backing down from their boil-the-frog fees.

Be Sure to Double Check the Name: Attention conservatives! Even the CATO guys think medical malpractice damage caps are a bad idea. Last I heard, those guys were just barely less conservative than the Heritage Foundation.

Speaking of Cato: Cato Fellow and extremely talented magician/comedian Penn Jillette has risen to Glenn Beck’s challenge to write 10 Commandments for Atheists.

Speaking of Republicans Being Wrong: The freaking World Bank says they’re wrong about the economy. Regulation is not preventing job creation and it never did.

Not Helpful: yet more talk of a foreclosure fraud settlement proposal that gives the banks a slap on the wrists for trashing our housing values and preventing a meaningful economic recovery. On the other hand, maybe doing something about mortgage debt will help. Good luck making the banks suck that up.

Yeah, it’s the FIZZ and not the SUGARS: Teens who drink non-diet “fizzy drinks” more prone to violence. Note the careful use of the phrase non-diet instead of sweetened.

Strike: General Strike November 2. Don’t work, don’t spend money, don’t do anything taxable. If you must go to work, don’t spend money.

Now will you make a freaking MLS client that runs on Lion???:  Turns out Mac users are more productive. And that includes the time we spend finding workarounds for cludgy Windows only and MSIE only things we need for work! I’m talkin to you, Marketlinx! Don’t tell me “you’re aware of the problem” just fix it.

And Finally: Happy 125th Birthday to the Statue of Liberty.

 

Is that a Biblical name?

Here’s a story that made me happy and sad all at once: this week 285 girls in India were granted new names, replacing names that mean “unwanted.”  Now, I can’t imagine naming my child something like that, and I can’t even imagine allowing my relatives to name a child that. But apparently it’s common enough in India that a big ceremony was put together for these 285 girls to legally change their names. And I am glad they have that opportunity.

Unfortunately, there is precedent in the Bible. You know those kids were well adjusted too….

In Closing: many parents go online before calling a doctor; we got a really big shoe for you tonight (kinda cool, if you have room); too big to fail?; a whole bunch of stuff about OWS; “The flat tax is a fraud“; why does anybody let Santorum have a microphone?; trade-in; privatized regulation is a joke; “In other words, the growth in the amount that individuals are consuming is lower, but individuals are paying more for what they are consuming” (most of us would call that “inflation”); and a Viking boat burial.

Be aware that I’ve had a huge spam problem lately. If the spam hose continues, I will have no choice but to close to comments in a matter of days.

Is the 50 State Foreclosure Fraud Settlement Dead?

It sure looks that way!

The California Attorney General has pulled out of the settlement talks and plans to run her own investigation! I wouldn’t be surprised if the New York Attorney General followed, since he‘s already talked about investigating on his own, and says he’s looking forward to talking with her.

For that matter, since Nevada‘s Attorney General has taken Bank of America to court for (allegedly) not abiding by a 2009 agreement on foreclosures and foreclosure fraud, it would make sense for her to join the party as well.

In Closing: The D Word; I miss the old days too; I guess they were in the building so that makes them accessories?; Occupy Wherever (like, say, Vegas); yes, mostly; about time somebody called out this BS; mechanically challenged; hell no!; and Happy October.