Subject:
Barney Frank Barney Frank (born March 31, 1940) is the United States House Representative for Massachusetts’s 4th congressional district since 1981. He is a member of the Democratic Party. In 1982, he won his first full term, and he has been re-elected ever since by wide margins. In 1987, he became the second openly gay member of the House of Representatives, and he has become one of the most prominent LGBT politicians in the United States.
Frank became the chairman of the House Financial Services Committee in 2007 after the Democratic Party won a majority in the House. The committee oversees the entire financial services industry, which includes the securities, insurance, banking, and housing industries.
Frank is known for his quick wit and self-deprecating sense of humor. He is also widely considered to be one of the most powerful members of Congress. Josh Gottheimer describes Frank as “one of the brightest and most energetic defenders of civil rights issues.” (Wikipedia Jan 2010)
The decline of the dollar
By John Schroy, on March 30th, 2009 |

Foreigners hold $16.9 trillion in dollar financial assets, accumulated through years of selling goods and services to the US. Profligate deficit spending by the Pelosi-Reid Congress increases the probability of dollar inflation.
If foreign governments were to convert their holdings of dollar financial assets into non-financial assets, like US REITs, they can guard against dollar inflation. They might also gain a position that, in the extreme, would be against US national security interests.
The Efficient Market Hypothesis
By John Schroy, on March 23rd, 2009 |

The Crash of 2008 was exacerbated by a FASB mark-to-market rule that required financial institutions to write down assets below commonsense valuation. As John Maynard Keynes remarked, the problem was an academic scribbler’s unproven theory, some forty years ago.
That ’scribbler’ was Eugene Fama and his unproven idea was called “The Efficient Market Hypothesis”. The Crash of 2008 did much to discredit this harmful musing that supported Modern Portfolio Theory, mark-to-mark accounting, and unmanaged index funds.
Stock buyback fraud
By John Schroy, on May 16th, 2007 |

The Federal Reserve flow of funds accounts have signaled that there is a massive disequilibrium in the US equity market for over a year. Most investors will pass through these days of madness, hardly appreciating the spectacle that surrounds them.
However, I will step into the breach and make an unsolicited public service announcement:
“The Great Buyback Bubble is now official! Look around you and behold!”
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