Top Five Stories on Finance You May Have Missed

These are important news on world finance and economy coming from great business leaders as George Soros,  Warrent Buffett and Jamie Dimon of JP Morgan (the largest bank in the US).

They come from Moneynews.com

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From: Moneynews.com <newsmax@reply.newsmax.com>
Date: Mon, Jan 28, 2013 at 1:56 AM
Subject: Top Five Stories You May Have Missed

Top Five Stories You May Have Missed Dear Moneynews Reader: Here are the five top Moneynews stories from the past week that you may have missed: Soros Warns of Currency War: 'More Fireworks, More Volatility'George Soros, one of the most outspoken critics of Germany's proposed austerity policies to solve the European debt crisis, said the euro is here to stay and will gain as other nations seek to devalue their currencies . . . Click Here. Analysts to Apple: Bend Your Knee to Wall StreetApple needs to come down off its perch and start making nice with Wall Street, analysts said Thursday as investors hammered the company's stock. The sell-off put Apple a hair's-breadth away from losing its status as the world's most valuable company . . .Click Here. --------------------------------------------------------------------------------- ALERT: 6 Unlikely Heroes Beat Economic Odds —Hear Their Story --------------------------------------------------------------------------------- Buffett Is Winning Bet Against Hedge Funds Five years ago, Buffett bet that Vanguard's Admiral S&P index fund would perform better than five funds of hedge funds picked by Protégé Partners, a New York money management firm. It's halftime in the $1 million game . . . Click Here. Dimon: Expect Five More Years of Finger-Pointing at BanksJPMorgan Chase & Co. Chief Executive Officer Jamie Dimon Wednesday deflected blame from the banking industry for causing the financial crisis and predicted more accusations for years to come . . .Click Here. Prison Bandits Are Robbing the IRS Inmates in U.S. prisons are using a tax scam to bilk millions from the IRS, according to CNNMoney. The theft involves prisoners filing fraudulent tax refunds from behind bars, using stolen or fake identities and other tactics . . . Click Here. Special Offers: Video: 60% Believe the American Dream Is Dead Forbes Columnist: 'Who the Hell Cleared This?' (See Shocking Video) Get Controversial Book 'Uncharted' for Free — Just Cover S&H (See Details) © Moneynews. All rights reserved. This email is never sent unsolicited. You have received this email because you subscribed to it or someone forwarded it to you. To opt out, see the links below. TO ADVERTISE For information on advertising, please contact Newsmax Advertising Sales via email. TO SUBSCRIBE If this email has been forwarded to you and you would like to sign up, please click here. Remove your email address from our list or modify your profile. We respect your right to privacy. View our policy. This email was sent by: Moneynews.com and Newsmax.com 1501 Northpoint Parkway, Suite 104 West Palm Beach, FL 33407 USA 1499153 12307-1

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Jorge U. Saguinsin
To "be the best, do your best, expect the best" always

Banks should fail without costing taxpayers?

Majorem Wealth Builders

From Money News | January 22, 2013

Banks should be allowed to fail without costing taxpayers money.  This was according to JP Morgan Jamie Dimon in a roundtable discussion in a town in Germany.  JP Morgan is the largest US bank with $2.36 trillion in assets.  On the other hand, Deutsche bank is the world's largest bank with $2.92 trillion assets.

This was perhaps in reference to 2008 US events that saw the fall of Lehman Brothers and other TARP too big to fail rescue packages in the US.

A new system where banks can be made stronger should be set up.  Capital adequacy is one good move.  The Basel 3 requirements should bring the bank to good directions.  Banks should not offer products (as derivatives) that regulators do not understand.  Many say that derivatives are really zero sum (we end up with nothing) products and the financial engineering was a sugar coating to the scam.

Let us go back to the loans deposit products?

Do you agree wit Jamie Dimon?

They are one of the too big to fail.  It is ok for them to fail without a rescue package?

Will the world's biggest bank not fail?

What happens to small ants like Majorem Lending if they fail?

Small institutions are wary of their survival and tend to  be more cautious and conservative?