More Videos- Michael Jackson: Death And Taxes
- Michael Jackson: The Music And The Money
- Cuddle Parties Heat Up
- Jackson's 'Wife'? One Woman Claims She's the One
- The Entrepreneurial Spirit Outside Neverland
- Perhaps The Dumbest Idea Ever
- California: Bad For Business, Good For Bonds?
- Megan, Michael, Madoff, And More - Your Emails
- A Different Sort Of Statement To The Madoffs
- Michael Jackson Still Selling Tickets - On eBay
- Brandt: Bing, The Little Search Engine That Couldn't
- 5-Star Manager's 5 Top Stocks
- Hey, What's Up Doc?
- Busch: Summertime Blues Hits Investors
- Chadwick: Recession and Scandals Pave the Way for Romney 2012
- Art Cashin: The S&P's 'Head and Shoulders' Number
- Michael Jackson: Death And Taxes
- Is Andy’s Mojo Back? We Asked Him
- GM A Step Closer To Exiting Bankruptcy
- Goldman Sees No Harm From Computer Programmer
- Justice Dept Said to Be Looking At Telecom Giants
- Lehman CEO: Firm Deserved Bailout or 'Wind Down'
- GM to Get Final $20 Billlion From US This Year
- Recession Special: Wine Cheaper Than Water!
- Facebook Director Sees 'Billions' in Revenue in 5 Years
- Jackson's Mom Asks to Manage Son's Estate
- Judge Gives Control of Jackson Estate to Executors
- The Weirdest Currencies in The World
RSS FEED
Text Size 
If you had to choose between your savings or your paycheck, which would you pick? It depends on which is bigger, I suppose. But in some ways, it's like choosing which child to sacrifice in "Sophie's Choice."
As I read the analysis of the government's moves to save the financial system, some believe we are sacrificing our paychecks (i.e., the taxes we pay) to save our bank accounts.
It will take hundreds of billions of taxpayer dollars to pull this all off. On the other hand, this could potentially be a win-win. If the government--that is, the taxpayer--takes over these bad mortgages written down to almost nothing, then eventually sells them (or the homes) at a profit, we make money! We've already made money on AIG today!
I know it's more complex than that, but I'm going to ask the question anyhow in the poll.
YOUR EMAILS
On my blog about how SIPC insures your brokerage account, Richard P. (who says he retired on the profits he made in the '87 crash) writes:
"You left out a VERY important detail. The SEC guarantees the money to the "Owner of Record", which, unless the investor is very savvy, is almost always the brokerage firm, not the client."
Steve G. writes about the excess insurance (CAPCOexcess) that some brokers buy as extra coverage:
"Important to also note that some firms may not use CAPCOexcess, but may have different excess insurance through re-insurers--Lloyds of London is one such excess SIPC re-insurer that several firms use."
FORGET LEGITIMATE BUSINESS, THE ILLEGITIMATE ECONOMY IS THRIVING
Sign of the high times. Up in Humboldt County, California, the marijuana harvest is in full swing. Trimmers are needed. And here is a new "high" in the entrepreneurial spirit. A young man in dreadlocks was advertising his services on the side of the road holding a sign on which he's drawn a pair of scissors. As one person told me, "In 27 years living in the 'Emerald Triangle', this is a first."
Questions? Comments? Funny Stories? Email
Data is a real-time snapshot *Data is delayed at least 15 minutes