I am surprised that there is not more talk about correcting FASB157. This accounting change is one of the reasons that banks have lost so much of the value. I think it needs to be addressed quickly, in the very least suspended till a better rule can be implemented.

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thanks frank, that's a good idea. we'll look into it.

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support santellis tea party,plz strong arm politics/no negotiation needs to stop

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support tea party joe the plumber now RICK the BROKER

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Daily Finance appears to offer a modulated response to the hysteria so prevalent in most media sources. Rational thought is in short supply!

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I have been sending this to as many governmeny official as I can. It is time we stood up and let them know that we need help



Dear ,

I recently had to take a twenty percent cut in pay to keep my primary job, yes I work two jobs to get by, something a lot of us are doing today. I had to do this to help the company I work for get through these hard economic times. It was not a choice I wanted to make but it is better than no job at all.
I propose that the President and all the members of Congress take a cut in pay to help the Country close the budget gap. A fifteen percent cut would save millions.
I am asking that you take this suggestion to the Congressional floor. It would be a popular move with the voters and show that the elected officials of our Government are willing to do their part as individuals to cut costs. Not just talk about it.


Sincerely
William A. Harmon
Sandwich Ma.

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Unfortunately, Jon Stewart is a joke. The fact that the federal budget is now about 4 times larger than Reagan's last budget, is unknown by a growing uninformed electorate. Santelli's rant came from a real understanding.

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Love the fantasy that elected officials would share in the financial burden they've imposed on their constituents. Voluntary paycuts will never happen, despite whatever rhetoric office holders or seekers may use to pander to the audience of the day. People in the real world work force, who are actually having their salaries cut, do not have the knowledge or power needed to bring about mandated cuts in governmental salaries. It's a crooked game, but if you don't play you can't win - and if you do play, we still lose.

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President Barack Obama and others elected leaders are complaining about the runaway costs of health benefits, but small businesses could cut costs if they did an annual review of their claims paid to premium dollars.

For most companies, the claims to premium ratio hovers somewhere at 30-percent. With the major carriers averaging about 20-percent for administrative costs, that leaves them with a 50-percent profit.

Because the sales process for most companies involve the human resource managers, few question an increase because they haven't reviewed their claims costs. Businesses could cut their costs if someone on their staff understood their claims to premium ratio. Senior executives should encourage someone like from their CFO or their CPA to work with their human resources administrators to review this data.

This simple process could save businesses millions of dollars.

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I have one question that I hope you can answer or at least speculate on. Why did all the money go to the banks and assorted AIGs and not instead to the general population ?
The gov't wants the people to spend money to stimulate the economy when we have no money to spend. Greenspan the two faced leader of the FED spoke simultaneously fo how the economy is consumer driven and remonstrated us on the other face on why we didn't have enough savings.
I don't think they know how out of touch they are.
The middle class is not only broke but have no jobs to go to as industry has been allowed to leave for the benefit the rich. Now what ?

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how in the world can one read your articles. They are so small one would need a magnifying glass to read your coments.

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