Remember when Steve Schwarzman said that taxing carried interest was “like when Hitler invaded Poland in 1939″? Or when Lloyd Blankfein said he was doing “God’s work”? Apparently, titans of finance can’t stop themselves from giving good copy.
James Kwak
Support the Wall Street Examiner! Choose your level of support to receive a free proprietary report as my thanks. Click the button below to see your options. Become a Patron!
James Kwak
Good Times for Capital
by James Kwak • • 0 Comments
Last week, the Wall Street Journal highlighted a Federal Reserve report on total household net worth. Surprise! Americans are richer than ever before, both in nominal and real terms. At the same time, though, wealth inequality is increasing from its already Gilded Era levels.
James Kwak
The Fallacy of Financial Education
by James Kwak • • 0 Comments
I looked up the top ten talk radio shows by audience. Nine of them were unabashedly right-wing, politically oriented shows. The tenth was Dave Ramsey.
James Kwak
Posturing from Weakness
by James Kwak • • 0 Comments
By James Kwak President Obama’s 2015 budget proposes a number of tax increases that will mainly affect the rich. They include: Limiting the tax savings on deductions to 28 percent of the deduction amount (and applying this limit to exclusions as well, such as the one for employer-provided health benefits) Requiring a minimum 30% income … … Continue reading →
James Kwak
“Retirement Security in an Aging Society,” or the Lack Thereof
by James Kwak • • 0 Comments
In the past, I’ve used the Federal Reserve’s Survey of Consumer Finances as my source for data about the inadequacy of many households’ retirement savings. Poterba has a new, perhaps even more stark snapshot:
James Kwak
Politics: Another Way To Waste Shareholder Money
by James Kwak • • 0 Comments
I don’t often go to academic conferences. My general opinion is that at their best, sitting in a windowless room all day listening to people talk about their papers is mildly boring…
James Kwak
Software Is Great; Software Has Bugs
by James Kwak • • 0 Comments
while we love what software can do for us, we also like having a safety net
James Kwak
The Costs of Bad 401(k) Plans
by James Kwak • • 0 Comments
401(k) plan participants lose about 1.56 percentage points in risk-adjusted annual returns relative to the after-fee performance available from low-cost, well-diversified plans.
James Kwak
Rich People Save; Poor People Don’t
by James Kwak • • 0 Comments
it’s a myth to say, as America Saves does on its home page, “Once you start saving, it gets easier and easier and before you know it, you’re on your way to making your dreams a reality
James Kwak
Résumé Put Hall of Fame
by James Kwak • • 0 Comments
Before 2006, people used to talk about the Greenspan put. But there’s something even better than having the Federal Reserve watching your back. It’s the résumé put.
