Financial Literacy vs Bankers, Politicians and... Police?

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 Financial Culture / Financial Literacy ©

Wall Street, Occupy Wall Street, Money and Financial Literacy...

Dodd-Frank Wall Street Reform and Consumer Protection Act H. R. 4173

Even though I wondered in a previous post if the "Occupy Wall Street" protesters are reasonably savvy (at least) about their personal finances despite being arrested and some of them hurt because of police violence, once again, in my humble opinion, Wall Street bonus "fever", risky financial bets, Credit Rating Agencies and ultimately politics don't get along well.

I somehow dislike to talk about financial markets and politicians because of this risky combination, however, we're reading once again that Wall Street is "decreasing" bonuses 20% - 30% in 2011 as well as Standard & Poor's is downgrading credit ratings for major banks in the United States and Europe.

It seems to me that Christopher Dodd and Barney Frank made a serious effort in protecting consumers, on the other hand, thinking about the current crisis the financial system has been grappling with mostly in the United States and Europe, I also think that those guys made what they were supposed to do (protect the public from abuses) but there's a key piece missing: Elizabeth Warren.

There's no doubt in mind that Elizabeth could have done a magnificent job in cleaning the current financial mess caused by bankers, their mistakes, corruption? and greed; as for Occupy Wall Street protesters, I still hope that, in the end, that they will understand that "conservative" politicians are not exactly the right people to help them to become financially savvy.

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The 99% and Financial Literacy... Are they financially savvy?

While witnessing those current events particularly in NYC and Oakland where people continue expressing their anger about what politicians are doing (and mostly what they are not if you want to see the opposite side of the problem...) to solve the current crisis, it caught my attention that according to a research, many of those "Occupy Wall Street" protesters being arrested in NYC, "have luxurious homes" and therefore, are "not exactly part of the 99%"

Reflecting about what those protests mean, even though organizers argue that "protesters come from all backgrounds", after reading the image "I pledge to move my money to a local Community Bank or Credit Union and declare my independence from big banks today", I also wonder if most of that 99% are also personally and -more importantly- financially aware about what moving their money imply not only in terms of protesting against Wall Street and its bankers but in terms of becoming more financially educated to pay a closer attention to their personal finances in these though economic times for most of them or... those protesters don't "care" about money because they are not "worried" about their financial safety?

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Financial Culture / Financial Literacy ©

Jets Quarterback Mark Brunell's Catastrophic Financial Path...

Jets Quarterback Mark Brunell's Catastrophic Financial Path | ThePostGame

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Financial Culture / Financial Literacy ©

Main Street is angry... Reminder to continue learning.

While witnessing the recent events particularly in NYC where people have expressed outrage about greed on Wall Street and some other problems already emerging such as Morgan Stanley suffering some serious losses, I could only add that it's the time to rethink once again how important Financial Literacy is...

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