Posted by Leonard Steinberg on January 7th, 2012 Banks will start posting results for the fourth quarter and year end starting next week, and the results are poised to be weak. Weak results result in many things, so here is my evaluation: 1) Bonuses will probably be down rather sharply from last year, I… [Read More]
FEDERAL TAXATION STUPIDITY – IT GETS WORSE IN 2013!
Is the Federal Government blind, stupid, or worse, thoroughly corrupt? I suspect its all three. Why on earth do federal taxes make absolutely ZERO accounting for the cost-of-living in various cities? Is it accurate that $ 250,000.00 earned in Manhattan is the equivilant of earning $ 250,000.00 in Tulsa, Oklahoma or Albany, New York? NO!… [Read More]
TARP PROFITS! TEA PARTY TO CELEBRATE?
The U.S. government, which announced Monday that it plans to slowly unload its 27% stake in Citigroup Inc. over the remainder of this year, currently stands to pocket an $8 billion profit on the investment from last September. That’s a remarkable 30% return in six months, or triple the return generated by the average hedge… [Read More]