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Daily Archives: June 18, 2015
Wealth: hard to build, easy to lose
70% of wealthy families lose their wealth by the second generation, and a stunning 90% by the third. A new survey by the Williams Group wealth consultancy surveyed ‘high net worth individuals’ with more than $3 million in investable assets … Continue reading
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Energy sector losing lift once more
US oil production (along with global oil production) has continued to ramp over the past year as lower prices prompt over-levered players to pump more in order to grab the necessary life-blood of solvency–cash flow. … Continue reading
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This week in history: TBTF banks were broken up
This week in 1933, Congress passed The Glass-Steagall Act, also known as the Banking Act of 1933 (48 Stat. 162) prohibiting commercial banks from engaging in the investment business (ie., underwriting, trading, speculating and selling risk products while calling it … Continue reading
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