Week 4, January 2010
Indeed, it’s quite a challenge to write about banking and finance on a regular basis without just blowing my top about it. See here for an example of why. I read the financial news every day as part of my due diligence in this business and I recognize how important it is for our economy that the public have confidence in the financial system. The consistent trouble is though, that we, as rational human beings, expect industries to EARN our trust and confidence— and therein lies the rub. How do we trust this banking industry that seems wholly incapable of understanding that maybe they owe MORE than just a pay-back of the money that bailed out their industry’s very existence? How do we trust an industry that created and funded loan products for high risk borrowers, then sold them to investors touted as solid securities, and then used shareholder funds to basically casino-gamble that these same securities would fail? And lastly, how do we trust an industry that is currently engaged in mega-millions of dollars worth of lobbying Congress to derail reforms that will reign in the totally unregulated derivatives market and will separate insured-deposit banking enterprises from securities-trading enterprises? The answer, in my opinion, is WE DON’T. We don’t. The best redress I’ve seen and read about is the movement to utilize the free market in its most ideal form by transferring our money into the community banking system whose operations, by the way, were not obliged to the derivatives market to the tune of billions of dollars and whose lending practices DID NOT engage in funding high risk loans without regard to the investors who would eventually own those promissory notes. Let community banking earn your trust and confidence. As a daily reader of financial news, this is my advice.
See here for more about the nationwide “Move Your Money” campaign
To contact me about financing your dream-home click here.
Weekend Wanderer’s Events
…finding the treasures in your town and beyond.
Two for This Weekend:
V. Sattui Winery Barrel Tasting Party: Doesn’t a trip to the wine country sound nice? That’s what I thought when I read about this wine tasting party happening this Saturday at the beautiful V. Sattui Winery. This one will include barrel tasting of the 2009 wines that they claim have developed uniquely well despite the reduced rainfall in 2009. Additionally, “slow comfort foods” and new releases including a 2005 Reserve Cabernet will be offered as well. Looks like a stellar event!
SF Winter Music Festival: Starting this weekend at The Bottom of the Hill. From the Squid List: “Opening night kicks off at 8:00pm with national buzz acts The Action Design, Rykarda Parasol, Dave Smallen and The Trophy Fire. The excitement continues all week with buzz artists across the spectrum of rock and pop, including Tempo No Tempo, Bird By Bird, Grand Lake, Bhi Bhiman, Eric McFadden, Scene Of Action, the eclectic Duckmandu, the soulful musings of Kuma/Koshka, and the aptly named Damn Handsome and the Birthday Suits to name but a few.”
Help Your Fellow Living Beings:
HelpHaitiNow.org: These folks have been on the case for Haiti long before the 2010 earthquake. From their website: “Help Haiti Now was established in 2005 to provide food, water, medicine, and educational support to Haitians suffering from abject poverty. HHN is an all-volunteer organization that has been serving several missions in Haiti for over five years. Help Haiti Now is a non-profit 501c3 organization and all donations are tax deductible.”
Two Weekends from Now:
Romance for the Soul: A piano concert: Next Saturday night at the San Francisco Conservatory of Music will arrive your chance to see and hear the great pianist Alexander Sung. His performance will include his acclaimed interpretations of Mozart, Schubert, Schumann, and Liszt. “Romance for the Soul” just compelled my attention as I scrolled through the listings for next week. Hope it’s as great as it sounds— no pun intended.
Pic of the Week… from my phone camera:
Ocean Beach last Saturday afternoon