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Proposed budget needs a major dose of realism
In this election year, the country deserves a realistic budget, and President Bush's proposed budget for fiscal 2009 isn't it — even though it predicts a deficit of $407 billion.
Give Bernanke a break
Wall Street pundits should lay off Fed Chairman Ben Bernanke and his Federal Reserve Board colleagues for being cautious with interest rate moves.
Industry should reach out to women
Research shows that women are more vulnerable to poverty in old age than men for several reasons, including their longer life spans, shorter and interrupted working careers, and lower earnings.
It’s time for greedy CEOs to do time
Gregory Reyes is the first chief executive to be sentenced to prison and socked with a huge fine for improperly back-dating stock options.
Advisers need an SRO of their own
Reluctant as we are to call for the establishment of another self-regulatory organization, we have concluded it is the best structure for the regulation of the investment advisory industry.
It’s time to take action on 12(b)-1 fees
This is the year for the SEC to settle the 12(b)-1 issue. Securities and Exchange Commission Chairman Christopher Cox has pledged to examine the fee system, questioning whether the use of 12(b)-1 fees has moved away from the original intent, which was to cover marketing and distribution expenses.
Change principal-trade rule with caution
The Securities and Exchange Commission must carefully monitor its temporary proposed principal-trade rule, which took effect Sept. 30.
Economy, investors brace for a bumpy ride
The first day of trading in the new year should have served as a warning to investors that 2008 will likely be a tough year for the economy and for investors.
Dear Santa: Fix the AMT and subprime mess
We have a few items we would like to request from Santa Claus for Christmas — not this Christmas, mind you — we would be happy to receive them by Christmas 2008.
Let’s put a freeze on mortgage rate resets
The prospect of 2 million homeowners seeing their mortgage rates jump over the next two years as adjustable-rate mortgages reset, possibly triggering hundreds of thousands of foreclosures, has forced the government, lenders and the mortgage-servicing companies to focus on the problem.
Time for an assault on golden parachutes
It's time for all investors, institutional and individual, to tell boards of directors: "We're mad as hell, and we're not going to take it anymore!"
SEC should not require climate change risk disclosure
The Securities and Exchange Commission should resist calls for it to require, at this time, greater disclosure of the business risks to companies from climate change.
Including health care in financial plans
Health-care spending for people under 65 is growing faster than for those over the "magic" number.
Skepticism, savvy needed in the boardroom
The subprime-mortgage fiasco has revealed several flaws in the financial system that must be corrected if similar disasters are to be avoided in the future.
Industry airheads inflated the subprime bubble
The subprime-mortgage meltdown, which has triggered a larger meltdown throughout the credit markets, is the latest example of grand-scale faulty logic and short-term thinking.
Bill would shift burden, complicate taxes
Rep. Charles B. Rangel's Tax Reduction and Reform Act of 2007 is misnamed. It should be called the Tax Reallocation and Complication Act of 2007 or perhaps the Accountants and Financial Planners Full Employment Act of 2007.
Let’s not rush to arbitration judgment
The North American Securities Administrators Association Inc. and the Public Investors Arbitration Bar Association want to remove industry arbitrators from securities arbitration panels, arguing that the presence of industry representatives makes the panels inherently unfair.
Economic storm clouds are gathering
When the Federal Reserve Board cut the discount and federal funds rates by 0.5 percentage points Sept. 18, some critics charged that Fed Chairman Ben Bernanke and his colleagues had acted too quickly.
Pay close attention to retirement plan fees
Many financial planners and investment advisers have helped small companies establish 401(k) retirement plans for their employees.
