President Obama pushes for Financial Reform

Dear Mr. Tan,

The President pushes for one of the pillars of his new economic foundation: reforming our financial system to look out for consumers, not just banks.

I admire how the American's strong showing in protecting consumers. Obama openly pointed how consumers, even CPA certified, got "cheated" by the financial institutions' pages and pages of fine prints, unfair rates hikes, unfair dealings, etc.

Obama said

• He do not want them to compete by figuring out how much they can fool ordinary Americans.
  
  
• The Financial Consumer Protection Agency is not for big banks, financial firms, but for hardworking Americans.

President Obama Pushes for Financial Reform
http://www.youtube.com/watch?v=OgiWAYGpRNA

Kudos to the Obama Administration!

Fixed and variable annuities

This article explains the concept of fixed and variable annuities.

Squeeze on the middle class

The middle class is being squeezed by stagnant income and higher expenses. This report refers to the situation in America. It applies to Singapore as well, except that both the middle and lower income classes are being squeezed.

This is caused by the widening income gap, brought about by deregulation, globalisation and the free market. This is bad for the future of society.

Sunshine Empire

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Sudoku Challenge, 7 and 14 Nov 2009

The contest rules and application form can be found here. Closing date: 20 October 2009