Tag Archives: advice

Brokers No Longer Allowed to Scam You on Your IRA Investments

by Lovie9666thwo Posted on April 6, 2016

Mother Jones

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After six years, a new rule requiring brokers to act in their clients’ best interests has finally gone into effect:

The fiduciary rule is aimed at curbing billions of dollars in fees paid annually by small savers who transfer money out of 401(k)s, which are required to operate in their best interests—and into individual retirement accounts, which aren’t currently bound by such protections. There, savers may be working with financial-product salespeople who earn more selling certain products and don’t have to put their clients’ interests before their own.

Administration officials intend it as a direct attack on what they consider “a business model that rests on bilking hard-working Americans out of their retirement money,” Jeff Zients, director of the White House National Economic Council, told reporters Tuesday.

….“Unless we see fundamental changes, this rule will remain unworkable, and we will consider every approach to address our concerns,” David Hirschmann, head of the U.S. Chamber of Commerce’s capital-markets division, said in a statement Tuesday. The chamber has said it was considering a lawsuit to block the regulation.

Unworkable! Sure, brokers have been following this rule for years with 401(k) plans, but extending that to IRAs will bring Wall Street to its knees. That’s despite a wide range of concessions from the administration after it received comments on the proposed rule:

Mr. Perez said, for example, that an employee of MetLife Inc. wouldn’t be obligated to advise clients about offerings from a competitor, like New York Life….To cut down on paperwork that industry officials said would be too burdensome, the new version of the rule only requires that firms sign one “best interest contract” with clients when they open an account.

….The latest rule also clarifies that brokers and others can continue offering a wide range of guidance without having to clear the “fiduciary” bar for “advice.” It specifies that investor education isn’t considered advice, allowing companies to continue providing general education on retirement savings. Also excluded from the advice category are general circulation newsletters, media talk shows and commentaries as well as general marketing materials.

Hmmm. “General education.” I have a feeling these are going to be boom times for general education. Stay tuned.

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Brokers No Longer Allowed to Scam You on Your IRA Investments

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Donald Trump’s Tax Plan Is Far More Sensational Then Jeb Bush’s

by TressaLowin Posted on December 24, 2015

Mother Jones

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The folks at the Tax Policy Center have spurned my advice to spend more time with their families, instead spending their holiday weekends beavering away on an analysis of Donald Trump’s tax plan. And the important news is that it’s bigger, more energetic, and altogether more taxerrific than Jeb Bush’s weak-tea excuse for a tax plan. Bush would increase the national debt by 28 percentage points over the next decade. Trump kills it with a 39 point increase in red ink. Bush raises the federal deficit by $1 trillion in 2026. Trump goes big and increases it by $1.6 trillion. Bush’s plan costs $6.8 trillion over ten years. Trump’s plan clocks in at a budget-busting $9.5 trillion. And Bush reduces the tax rate of the super-rich by a meager 7.6 percent. Trump buries him by slashing tax rates for the Wall Street set by 12.5 percent.

Once again, Bush has brought a knife to a gun fight, and Trump has slapped him silly. This is why Trump is a winner. Merry Christmas, billionaires!

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Donald Trump’s Tax Plan Is Far More Sensational Then Jeb Bush’s

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Jon Stewart Signs Off from the "Daily Show" with the Perfect Advice for Us All

by TiffanyJensen Posted on August 7, 2015

Mother Jones

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After 16 years of engaging audiences with his political satire and no bullshit media criticism, Jon Stewart bid a final farewell as host of the Daily Show on Thursday night. The episode, filled with cameos from the likes of Steve Carell and Kristen Schaal, was very much a tribute to the longtime host as it was to his impressive roster of correspondents from over the years.

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During one moment, Stephen Colbert, whose tenure at the Daily Show launched his own career as the bloviating pundit of the Colbert Report, broke character to thank an emotional Stewart for his work.

“We are better people for having known you,” Colbert said. “You are a great artist and a good man.”

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Before officially signing off, Stewart left his audience with the advice to keep vigilant of all the bullshit out there.

“Bullshit is everywhere,” he said. “If you smell something, say something.”

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Jon Stewart Signs Off from the "Daily Show" with the Perfect Advice for Us All

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The Checklist – Dr. Manny Alvarez

by Myrna Posted on June 17, 2015

READ GREEN WITH E-BOOKS

The Checklist
How to Identify True Medical Advice When
Dr. Manny Alvarez

Genre: Health & Fitness

Price: $0.99

Publish Date: March 17, 2009

Publisher: HarperCollins e-books

Seller: HarperCollins


In the tradition of YOU The Owner&apos;s Manual, The Checklist is organized as a guide to help individuals and families take the right precautions, at the right time in their lives, to avoid the most common health pitfalls and illnesses, and put them on the path to a vigorous and sound lifestyle. Each decade in a person&apos;s life introduces new risks not seen in their previous ten years. A health plan must be tailor-made to fit a body as it matures decade to decade. Dr. Manny&apos;s friendly, easy explanations and simple maintenance breakdowns show people how to act preventively and proactively, without unnecessary fears or reliance on the abundance of outdated, counterproductive health myths. Dr. Manny&apos;s mission is to aid readers in their pursuit of living a healthy and long life, and to help close the door on future life-threatening illnesses using proven, sound medical knowledge.

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The Checklist – Dr. Manny Alvarez

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The Agriculture Department Has Advice In Case You’re Ever Kidnapped

by MillieLogue Posted on January 9, 2015

Mother Jones

In an apparent effort to prove that you can write an explainer about anything, Alex Abad-Santos writes one today about the Taken movies. So how good is Liam Neeson’s advice in those movies to the various family members of his that get abducted? Here is Abad-Santos:

According to the a safety protocol guide on the USDA’s website, it’s recommended that you….

Wait. The USDA? As in the Department of Agriculture? WTF?

Anyway, yes: it turns out the United States Department of Agriculture has a Personnel and Document Security Division, and they have a handy web page called “Kidnapping and Hostage Survival Guidelines.” Sadly, it turns out not to really be a USDA document. It’s part of a security program developed for the Defense Security Service Academy by the Defense Personnel Security Research Center. The security awareness cartoons were provided by the Information and Personnel Security Office, Chief of Naval Operations. From there, the whole package was distributed to other government agencies, including the USDA.

Still, it has a quiz! If you’d like to test your knowledge of proper security procedures for government employees, click here.

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The Agriculture Department Has Advice In Case You’re Ever Kidnapped

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Here’s the Story on Party ID: There’s Not Really Much of a Story

by DanteLehrer Posted on January 8, 2015

Mother Jones

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Several people have already commented on a new Gallup poll showing that Democrats and Republicans are continuing to lose ground to self-identified independents. And it’s true: the percentage of independents has risen steadily since 2008 from 35 percent to 43 percent.

But my advice is to ignore the noise. As Gallup itself says, “Although independents claim no outright allegiance to either major party, it is well-known that they are not necessarily neutral when it comes to politics.” Quite so. In fact, “leaners” tend to vote the party line just about as loyally as folks still willing to explicitly call themselves Democrats and Republicans. For most people, identifying as an independent isn’t so much a genuine political commitment as it is a lifestyle statement.

So here’s the chart to look at: Party ID plus the leaners. And the story it tells is fairly unremarkable. You can see spikes up and down as elections are held and the public gets tired of the party in power, but there’s not much of a long-term trend. I eyeballed the average party ID for both Democrats and Republicans in the Gallup chart, and it shows very little movement over the past few years: Democrats are down slightly from their long-term average—probably not surprising in the sixth year of a presidency—and Republicans have gained slightly.

If there’s a story to tell here, I don’t really see it. Perhaps pundits with sharper eyes and more column inches to fill will find something.

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Here’s the Story on Party ID: There’s Not Really Much of a Story

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RED 3: Mitt Romney May Be Retired, But Still Extremely Dangerous

by ReedHuittww Posted on September 25, 2014

Mother Jones

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Byron York says that Mitt Romney aspires to be the Harold Stassen of the 21st century:

Romney is talking with advisers, consulting with his family, keeping a close eye on the emerging ’16 Republican field, and carefully weighing the pluses and minuses of another run. That doesn’t mean he will decide to do it, but it does mean that Mitt 2016 is a real possibility.

….A significant number of Romney’s top financial supporters from 2012 have decided not to commit to any other 2016 candidate until they hear a definitive word from Romney. They believe they are doing it with the tacit approval of Romney himself.

….If Romney did run, one thing the loyalists expect is a change in his top strategists. Recently one veteran Republican operative who was not involved in the Romney campaign said, “All his people want him to run again because they made so much money off it the last time.” Now, Romney supporters say that if he mounts another campaign, they would demand that Romney not employ Stuart Stevens and Russ Schriefer, the Republican strategists who played key roles in the 2012 campaign. Who would take their place is an open question.

I know that Romney doesn’t want my advice, but here it is anyway: Just pay all these guys a bunch of money to go away and stop dreaming about a chance to light more of your money on fire. It will be cheaper in the long run, and your eventual job description will be the same too.

But as long as we’re supposedly taking this seriously, let’s put on our analytical hats and ask: could Romney beat Hillary Clinton if they both ran? On the plus side, Hillary’s not as good a campaigner as Barack Obama and 2016 is likely to be a Republican-friendly year after eight years of Democratic rule. On the minus side, Romney has already run twice, and the American public isn’t usually very kind to second chances in political life, let alone third chances. Plus—and this is the real killer—Romney still has all the problems he had in 2012. In the public eye, he remains the 47 percent guy who seems more like the Romneytron 3000 than a real human being.

Still, snark aside, if you put all this together I guess it means Romney really would have a shot at winning if he ran. We still live in a 50-50 nation, after all, and for the foreseeable future I suspect that pretty much every presidential election is going to be fairly close. And Romney certainly has a decent chance of winning the Republican nomination, since he’d be competing against pretty much the same clown show as last time.

So sure: Run, Mitt! I hear that Eric Cantor is available to be your vice president.

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RED 3: Mitt Romney May Be Retired, But Still Extremely Dangerous

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Ex-George Washington University President Responds to Controversy Over His Sexual Assault Remarks

by JorjaAoqqssn Posted on August 28, 2014

Mother Jones

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A former university president came under fire this week for the advice he gave on how to combat sexual assault on college campuses. On Tuesday, George Washington University President Emeritus Stephen Trachtenberg appeared on NPR’s Diane Rehm Show and said, “Without making the victims responsible for what happens, one of the groups that have to be trained not to drink in excess are women. They need to be in a position to punch the guys in the nose if they misbehave.” Critics pounced. Jezebel slammed his comments as “jaw-droppingly stupid,” and the website noted, “If this is the attitude freely and blithely expressed by a former University President, it’s no wonder that more than 75 schools are currently under investigation by the Department of Education for botching sexual assault investigations.”

The following day, Trachtenberg told the school newspaper, The GW Hatchet, that his remarks had been taken “out of context,” but he reiterated his main point: “What I’m saying is you want to have somebody you care about like your daughter, granddaughter or girlfriend to understand her limits because she will be less likely to be unable to fight off somebody who is attacking her.”

On Thursday, Mother Jones asked Trachtenberg to comment on the ongoing controversy, and he replied with a written statement. Regarding Jezebel, he said:

Jezebel has a world view that informs their prose. They are an advocate for an important cause and they take every opportunity to make their case. Sometimes in their enthusiasm they may get a little overheated. It’s hard to resist an apparent opportunity when you believe you are on the side of the angels.

In response to other questions—including why he chose to use the word “misbehave” to describe sexual assault—Trachtenberg said:

I chose that word because I was thinking and speaking quickly under time constraints on a radio show. Under different circumstances I might have used another perhaps stronger word. I am an educator. I believe in the power of education. I think that education about drinking and its effects on an individual can help protect that person from vulnerability. Knowledge makes one stronger. I also believe that having skills gives one power. If you know how to defend yourself you have strength that can be helpful in the event things turn physical. These two ideas are not meant to solve all problems. They are not blame shifters. They are what they are. Better to know things then not. No silver bullets here. We need to educate men too. Date rape is largely the responsibility of young men and alcohol and opportunity. We can address these issues as a community. Men and women and institutions together. Victims should do their best but they are victims and not to blame. My recommendation is to change the culture of the campus so that men and women protect and nurture each other as a family would. It will take work but it can be done.

Is this an apology? You be the judge.

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Ex-George Washington University President Responds to Controversy Over His Sexual Assault Remarks

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Happy Tuesday! Here Is a Video of Thousands of Noisy, Rampaging Ducks

by IleneAugustin Posted on June 17, 2014

Mother Jones

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Enjoy.

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Happy Tuesday! Here Is a Video of Thousands of Noisy, Rampaging Ducks

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Republicans Are Trying to Build a Better Primary

by KennethCovingto Posted on January 24, 2014

Mother Jones

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Jonathan Bernstein reports on Republican efforts to shorten the primary season:

If all goes according to plan, the result will be votes in the first four (“carve-out”) states — Iowa, New Hampshire, Nevada, South Carolina — in February, followed by votes in rapid succession in March and April, with the primary season finishing up in May. That’s a lot more compressed than the January-to-June schedule of the past few cycles.

….The 2012 cycle, the theory goes, just went on too long, with eventual nominee Mitt Romney taking too many shots from other candidates. My feeling, however, is that the hits Romney took almost certainly didn’t matter for the fall campaign. The real lesson of 2012 that Republicans should worry about is that virtually any crank, no matter how little qualified for president, can have a very good two weeks….It’s essentially the stories of Michele Bachman, Herman Cain, Newt Gingrich, and Rick Santorum in 2012.

By compressing the calendar, you increase the danger that a mediocre or worse candidate could get hot at just the right time and wrap up the nomination before the party has time to stop it….The March crunch could get so momentous that it overwhelms the rest of the schedule. In other words, if crunch time in March takes on the air of a de facto national primary — even one spread out over two or three weeks — it could mean trouble.

I agree that compressing the actual voting might not matter much. These days, primary campaigns start early: we’ll almost certainly have several declared candidates by early 2015 and a full field by the middle of the year. Those guys are going to be out on the trail taking shots for a very long time no matter what. Besides, primary season is almost always effectively over by March or April anyway, even if there are a few Ron Paul-esque stragglers who refuse to concede for PR reasons. It rarely lasts more than 14 or 15 weeks.

So what about Bernstein’s theory that the real problem is beefing up the invisible primary so that fringe candidates are booted out early? I’m not so sure about that either. The clown show of 2012 was truly sui generis, something that’s never really happened before. And I’m not so convinced that any of the fringe folks would have had better odds in a compressed primary season, as he suggests. Sure, they each got hot for a week or two, but they typically got hot in one or two states. I don’t think they could have replicated that performance if they’d been competing in lots of different states at once.

But I could be wrong! Generally speaking, my advice to both parties is simple: Make your primaries as similar to a general election as possible. That would mean, for example, ditching the Iowa caucuses, since the kind of retail politics that win in Iowa are irrelevant to success in November. What you want is a candidate that can raise lots of money; appeal to lots of people; and has a good media presence. That’s what wins general elections these days, and a successful primary season is one that gives the advantage to those qualities. The quaint notion that New Hampshire is a great place to start because it’s a small state and gives everyone a chance is ridiculous. No modern political party should want a process that gives everyone a chance. They should want a process that brutally winnows out the vanity candidates and narrows the field to folks who know how to win on the big stage.

It won’t happen because it would require the parties to play massive hardball with the Iowas and New Hampshires of the world, something they won’t do. But they probably should.

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Republicans Are Trying to Build a Better Primary

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