A Quote by Charlie Munger
'F.A.S.B' ... 'Financial Accounts Still Bogus'.
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We will talk to the CIFAS members, financial institutions, about the possibility of closing accounts of people who have no right to be here. If you're going to create a hostile environment for illegal migrants... access to financial services is part of that.
Escrow accounts are an important tool for homeowners to the reduce the risk of mortgage default on high-priced loans. Millions of Americans, including my wife and I, utilize these accounts to make monthly payments towards the annual financial obligations that come with homeownership like taxes and insurance.
The argument on the other side of special rights is completely bogus. It's bogus because you could make exactly the same claim about racial or ethnic or religious minorities.
People need the financial sector to be safe; people also need the financial sector to go through a massive phase of innovation. That means delivering on the positive rhetoric, like around settlement accounts, not allowing Open Banking to be diluted, and leading the way on AML.
If the American government can't stand behind the dollar, the world's benchmark currency, then the global financial system will very likely enter a new era in which there is much less trade and much less economic growth. It would be, by most accounts, the largest self-imposed financial disaster in history.
Wills are trumped by legal titles to real estate or beneficiary designations on financial accounts, retirement plans and insurance policies.
No one anticipates divorce when they're exchanging vows, and it can be devastating emotionally and financially. To ease the financial side of the blow, you need to maintain your financial identity in your relationship. That means having your own credit history - you need your own credit card - and your own savings and retirement accounts.
Union leaders argue that pension shortfalls account for a proportionally tiny portion of governments' financial problems, and by all accounts, there are plenty of parties to blame for the growth in payrolls and obligations.
From bank accounts to financial systems, power grids to air traffic controls - our most critical infrastructure remain attractive cyber targets, and if they are ever compromised, the effects could be devastating.
Economics is all about consumption. People either spend money now or they use financial instruments - like bonds, stocks and savings accounts - so they can spend more later.
Inertia accounts for two-thirds of marriages. But love accounts for the other third.
With Congress and the S.E.C. so heavily peopled by lawyers, and with lawyers having been so heavily involved in drafting financial disclosure documents now seen as bogus, there was a new "lawyer" joke every week. One such was: "The butcher says 'the reputation of lawyers has fallen dramatically', and the check-out clerk replies: "How do you fall dramatically off a pancake?
Is the raggle-taggle Brangelina tribe any more bogus than that of the landlocked yummy mummy who believes that she can drop half a dozen brats and still keep a modest carbon footprint? I don't think so.
In this age of electronic money, investors are no longer seduced by a financial 'dance of a thousand veils.' Only hard and accurate information on reserves, current accounts, and monetary and fiscal conditions will keep capital from fleeing precipitously at the first sign of trouble.
Apparently modern financial regulators are vastly more sophisticated than we were as financial regulators 25 years ago - because we had never figured out that the key to financial stability was leaving felons in charge of the largest financial institutions in the world.
Technologies, including cell phones, have the potential to help millions of poor people out of poverty by enabling access to a range of safe, affordable financial services - most importantly, savings accounts - that have long been out of reach.
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