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	<title>Tax Rascal &#187; FYI</title>
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	<description>Where the taxosphere converges.</description>
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		<title>Tax The Rich, Feed The Capital</title>
		<link>http://www.taxrascal.com/466/466/</link>
		<comments>http://www.taxrascal.com/466/466/#comments</comments>
		<pubDate>Tue, 26 Jan 2010 23:17:46 +0000</pubDate>
		<dc:creator>Tax Rascal</dc:creator>
				<category><![CDATA[FYI]]></category>
		<category><![CDATA[oregon]]></category>
		<category><![CDATA[State Taxes]]></category>
		<category><![CDATA[Taxes]]></category>

		<guid isPermaLink="false">http://www.taxrascal.com/?p=466</guid>
		<description><![CDATA[So-called tax experts are gazing dumbly towards the haze of pot smoke hanging over I-5 between Washington and California. Apparently, that tract of land isn’t limited to a freeway and a few rest stops between Seattle and San Francisco. No! There’s an entire state there with its own big-boy capital and training pants tax code. [...]]]></description>
			<content:encoded><![CDATA[<p>So-called tax experts are gazing dumbly towards the haze of pot smoke hanging over I-5 between Washington and California. Apparently, that tract of land isn’t limited to a freeway and a few rest stops between Seattle and San Francisco. No! There’s an entire state there with its own big-boy capital and training pants tax code. And lawmakers there are pissing all over it.</p>
<p>Why are national tax experts interested in little ol’ Oregon? Why, because <a href="http://online.wsj.com/article/SB10001424052748704320104575015021446698384.html?mod=googlenews_wsj " rel="nofollow" >Oregon’s trying out a tax increase</a> to deal with their bankrupting state. And the “experts” see it as a the first canary in the tax-raising mine.  </p>
<p>Yes, Oregon is proposing a(nother) income tax increase to pay for… well, something. But give the Oregon legislature a little credit – they’re not simply pushing through a tax increase, they’re having the people vote on it.</p>
<p>“No problem, TaxRascal,” you say. “People don’t vote for tax increases.”</p>
<p>Wrong! People don’t pass tax increases on themselves. But they’ll happily tax the teeth off their neighbors. Yes, the hippie (communist) spirit is alive and well in that patchouli bog of the Willamette Valley, and when you’re voting on a tax increase on anyone making more than $125K a year, well, then, let’s spark the joints and dance around some new social welfare programs!</p>
<p>No one ever blamed the free-love sect of forward-thinking or common sense, so let me dance through this twisted logic. Oregon’s boasting one of the highest unemployment rates in the country, at a shade over 11 percent. Rather than spur new business, the hope is to raise taxes on the folk and businesses who’re in a position to change that?</p>
<p>Not everyone’s taking a big bite of this tax turd with a smile. Steve Buckstein of the Cascade Policy Institute says “prominent economists” suggest it’ll cost Oregon 70-80,000 jobs over the next few years. Although the “Cascade Policy Institute” sounds like a thinly-veiled organization some rich folk whipped up to create press releases such as these, and “prominent economists” probably realize the value of getting a couple hundred K to do some “research” into how the tax would negatively effect businesses, it’s safe to say the tax won’t /help/ bring in new business (and the rich folk who’d be running them.)</p>
<p>Whatever. So long as some of that money’s spent on a wider &#038; faster freeway with which to get past the foul paper mill-smell of the state capital, I’ll be happy.</p>


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		<title>Reid Hoffman&#8217;s Accidental Plot to Bloat the Deficit</title>
		<link>http://www.taxrascal.com/reid-hoffmans-accidental-plot-to-bloat-the-deficit/340/</link>
		<comments>http://www.taxrascal.com/reid-hoffmans-accidental-plot-to-bloat-the-deficit/340/#comments</comments>
		<pubDate>Tue, 03 Mar 2009 19:46:28 +0000</pubDate>
		<dc:creator>Tax Rascal</dc:creator>
				<category><![CDATA[FYI]]></category>
		<category><![CDATA[Deficit]]></category>
		<category><![CDATA[Reid Hoffman]]></category>
		<category><![CDATA[Startups]]></category>
		<category><![CDATA[Taxes]]></category>

		<guid isPermaLink="false">http://www.taxrascal.com/?p=340</guid>
		<description><![CDATA[Reid Hoffman (CEO of LinkedIn, and self-proclaimed &#8216;free-market socialist&#8216;) says we should let startups bail us out. As an investor in more than sixty startups, he ought to know how effective they can be.
His plan comes in three stages:


He wants a program that will provide small loans (up to $50,000) for startups.


He wants to change [...]]]></description>
			<content:encoded><![CDATA[<p>Reid Hoffman (CEO of LinkedIn, and self-proclaimed &#8216;<a href="http://articles.latimes.com/2008/jul/08/business/fi-hoffman8" rel="nofollow" >free-market socialist</a>&#8216;) says we should <a href="http://www.washingtonpost.com/wp-dyn/content/article/2009/03/02/AR2009030201947.html?sub=AR" rel="nofollow" >let startups bail us out</a>. As an investor in more than sixty startups, he ought to know how effective they can be.</p>
<p>His plan comes in three stages:</p>
<ol>
<li>
<p>He wants a program that will provide small loans (up to $50,000) for startups.</p>
</li>
<li>
<p>He wants to change the current skilled-worker visa system, so that instead of a quota (65,000 H-1B immigrants per year), there&#8217;s an unlimited number of immigrants and a 10% payroll tax on each, to be reinvested in job training for Americans.</p>
</li>
<li>
<p>He wants the government to match investments for venture capitalists and angel investors (giving them 50% of the profits from any investment).</p>
</li>
</ol>
<p>There are a few problems with this plan. The first one is that, since he suggested it, Reid Hoffman has more or less permanently torpedoed any chance that this will take off. The plan gives him $3 million in cheap loans, a larger labor pool, and millions more in matching funds &#8212; all at a time when those of us who aren&#8217;t CEOs of billion-dollar startups are hurting for jobs and loans. Not only that, but the hedge fund&#8217;s &#8216;2 and 20&#8242; fee system (2% of assets, 20% of profits)already has people upset &#8212; replacing it with the 50/50 is not going to make any new friends. Nice going, Reid!</p>
<p>But there&#8217;s more! The reason so many startups succeed in a down economy is that they&#8217;re able to offer something cheaper than the alternative. Apple sold a computer regular people could use <em>and</em> afford (other companies got one out of two, at best); FedEx managed to get a better handle on logistics than the competition (and when something needs to be delivered by the next day, paying extra for Fedex is cheaper than delivering late through the Post Office).</p>
<p>What&#8217;s wrong with that? The biggest problem is that we&#8217;re also bailing out the giant companies that sell more expensive things. Normally, during a recession you&#8217;d see huge companies shrink while small competitors snatch up market share. What you&#8217;re seeing this time is that giant companies get to borrow money cheaply from the government, and small companies are left to flounder.</p>
<p>If we&#8217;re already paying big companies to lose money, we can&#8217;t pay small companies to help big companies lose money faster. If you combine Hoffman&#8217;s new stimulus plan with the current bailiout system, our entire economy will be devoted to shoveling cash from one money pit to another.</p>


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		<item>
		<title>Tax Q&amp;A: Is Last Year&#8217;s Stimulus Taken Out of This Year&#8217;s Taxes?</title>
		<link>http://www.taxrascal.com/tax-qa-is-last-years-stimulus-taken-out-of-this-years-taxes/304/</link>
		<comments>http://www.taxrascal.com/tax-qa-is-last-years-stimulus-taken-out-of-this-years-taxes/304/#comments</comments>
		<pubDate>Thu, 22 Jan 2009 00:21:50 +0000</pubDate>
		<dc:creator>Tax Rascal</dc:creator>
				<category><![CDATA[FYI]]></category>
		<category><![CDATA[Barack Obama]]></category>
		<category><![CDATA[Stimulus]]></category>
		<category><![CDATA[Taxes]]></category>

		<guid isPermaLink="false">http://www.taxrascal.com/?p=304</guid>
		<description><![CDATA[It&#8217;s a common question in online tax forums: was last year&#8217;s stimulus check a gift? Or was it a loan? When the stimulus was passed, the economic situation looked bad. Now, it looks catastrophic. Getting an extra $600 then was a nice boost, but paying back $300 now (or more, with interest) could be awful.
The [...]]]></description>
			<content:encoded><![CDATA[<p>It&#8217;s a common question in online tax forums: was last year&#8217;s stimulus check a gift? Or was it a loan? When the stimulus was passed, the economic situation looked bad. Now, it looks catastrophic. Getting an extra $600 then was a nice boost, but paying back $300 now (or more, with interest) could be awful.</p>
<p>The good news is that nobody is going to ask you to return your stimulus payment, and the cost of it won&#8217;t be deducted from your next tax refund. But that&#8217;s only because of how fungible money is, sometimes: the cost &#8212; $300 per taxpayer, plus $300 per dependent, less some exceptions for high-income earners, but plus some other tax incentives &#8212; comes out to <a href="http://en.wikipedia.org/wiki/Economic_Stimulus_Act_of_2008" rel="nofollow" >$152 billion</a>.</p>
<p>So who pays for it, and how? Obviously, taxpayers &#8212; the same people getting the checks &#8212; are the ones footing the bill. Of course, that obscures the real answer. Even though the bill offered money to each taxpayer, there&#8217;s little chance that each one will pay back the same share.</p>
<p>Right now, <a href="http://www.realclearmarkets.com/articles/2008/04/the_rich_and_their_taxes.html" rel="nofollow" >the top 1% of earners pay up to 31% of all taxes</a>, depending on how you run the numbers. And since a large part of President Obama&#8217;s economic policy involves cutting taxes for people with low incomes, that number is likely to go up.</p>
<p>So the real, complex answer to the original question is No, you probably won&#8217;t have to pay for last year&#8217;s stimulus on this year&#8217;s taxes. But if you <em>do</em> have to pay, you&#8217;ll be paying many, many times over &#8212; and you shouldn&#8217;t expect it to be the last stimulus program you pay for, either.</p>


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		<title>Sarah Palin&#8217;s Wasilla job opportunities and openings on Craigslist</title>
		<link>http://www.taxrascal.com/sarah-palin-wasilla-job-opportunities-openings/221/</link>
		<comments>http://www.taxrascal.com/sarah-palin-wasilla-job-opportunities-openings/221/#comments</comments>
		<pubDate>Tue, 04 Nov 2008 17:45:47 +0000</pubDate>
		<dc:creator>Tax Rascal</dc:creator>
				<category><![CDATA[FYI]]></category>
		<category><![CDATA[Featured]]></category>
		<category><![CDATA[Sarah Palin]]></category>

		<guid isPermaLink="false">http://www.taxrascal.com/?p=221</guid>
		<description><![CDATA[Here are some of the jobs that are featured on Craigslist as of today for Wasilla. I want to make her return to Wasilla as easy as possible, so I have gone ahead and taken a look at what jobs she could apply to and given her sample responses to each post.
 
1.) Wanted &#8211; Customer [...]]]></description>
			<content:encoded><![CDATA[<p><strong><em>Here are some of the jobs that are featured on Craigslist as of today for Wasilla. I want to make her return to Wasilla as easy as possible, so I have gone ahead and taken a look at what jobs she could apply to and given her sample responses to each post.</em></strong></p>
<p> </p>
<h3><strong>1.) <a href="http://anchorage.craigslist.org/csr/903755969.html"rel="nofollow"  target="_blank">Wanted &#8211; Customer Service Specialist</a><span style="font-weight: normal;"> (<a href="http://anchorage.craigslist.org/csr/903755969.html"rel="nofollow"  target="_blank">see original</a>)</span></strong></h3>
<p>Looking for a <strong>highly motivated </strong>(<span style="color: #00ff00;"><strong>YES!</strong></span>)<strong> <span style="font-weight: normal;">Customer Care Specialist for an established Modeling Agency. This position will be responsible for all Customer Service needs that are required from all of our clients. This job is also the main connection between the client and the customer. We need someone who can work diligently under</span><span style="font-weight: normal;"> little supervision and solve problems</span><span style="font-weight: normal;">.  (</span><span style="color: #ff0000;">DOH! <span style="color: #ff0000;">NO!</span><span style="font-weight: normal;"><span style="font-weight: normal;"><span style="color: #000000;">)</span></span></span></span></strong></p>
<h3>CONCLUSION: <span style="color: #ff0000;">NOT QUALIFIED</span></h3>
<p> </p>
<h3>2.) <a href="http://anchorage.craigslist.org/ofc/905119066.html"rel="nofollow"  target="_blank">Admin Assistant -part time</a> <span style="font-weight: normal;">(</span><a href="http://anchorage.craigslist.org/ofc/905119066.html"rel="nofollow"  target="_blank"><span style="font-weight: normal;"><span style="font-weight: normal;">see original</span></span></a><span style="font-weight: normal;">)</span></h3>
<p><strong>Experienced administrative assistant</strong> <span style="font-weight: normal;"><span style="font-weight: normal;">(</span><span style="color: #ff0000;"><strong><span style="color: #ff0000;">DOH! </span></strong><span style="color: #ff0000;"><strong><span style="color: #ff0000;">NO!</span></strong></span><span style="font-weight: normal;">)</span></span> needed for part-time afternoon hours. Minimum requirements for position include <strong>excellent oral and written communication skill</strong><strong>s </strong><span style="font-weight: normal;"><span style="font-weight: normal;">(</span><span style="color: #ff0000;"><strong><span style="color: #ff0000;">DOH! </span></strong><span style="color: #ff0000;"><strong><span style="color: #ff0000;">NO!</span></strong><span style="color: #000000;">); </span><strong><span style="color: #000000;"><span style="font-weight: normal;">proficiency in Microsoft Word, Excel, Publisher</span><span style="font-weight: normal;">, Access, and </span>Outlook</span></strong><span style="font-weight: normal;"><span style="color: #000000;">(</span></span><span style="color: #ff0000;"><strong><span style="color: #ff0000;">DOH! </span></strong><span style="color: #ff0000;"><strong><span style="color: #ff0000;">NO!</span></strong><span style="color: #000000;">); experience in designing and creating forms, spreadsheets, brochures, signs, etc.; excellent proofreading skills; experience in records management;</span><strong><span style="color: #000000;"> a</span></strong><strong><span style="color: #000000;">bility to work well independently</span></strong><span style="color: #000000;">;</span></span><span style="color: #ff0000;"> </span><span style="color: #ff0000;"><span style="color: #000000;">(</span><span style="color: #00ff00;"><strong><span style="color: #00ff00;"><span style="color: #00ff00;">YES! MAVERICK!</span></span></strong></span><span style="color: #000000;">) clean driving record; must pass drug test . Salary DOE. If you meet these minimum requirements, please e-mail resume to karenh@tayloredrestoration.net or fax to (907) 373-1237 Attn: Karen. NO PHONE CALLS. If you have submitted a resume within the past 60 days, please do not reapply. Job closes Monday, November 10, 2008.</span></span><span style="color: #ff0000;"> </span></span></span></span></span></span></p>
<h3>CONCLUSION: <span style="color: #ff0000;"><span style="color: #ff0000;">NOT QUALIFIED</span></span></h3>
<p> </p>
<h3>3.) <a href="http://anchorage.craigslist.org/fbh/904764903.html"rel="nofollow"  target="_blank">Concession Attendant</a> <span style="font-weight: normal;">(</span><a href="http://anchorage.craigslist.org/fbh/904764903.html"rel="nofollow"  target="_blank"><span style="font-weight: normal;"><span style="font-weight: normal;">see original</span></span></a><span style="font-weight: normal;">)</span></h3>
<p>The City of Wasilla is currently accepting applications for a Concession Attendant I at the City of Wasilla Multi-Use Sports Complex. This position is a non-regular/on-call/non-benefited position with a possible duration of 8 months working 5 to 15 hours a week scheduled on evenings and weekends. The Concession Attendant I performs <strong>cashier services, preparation of foods and beverages, opening and closing of the concession facility, and custodial duties as required at the concession stand within the Wasilla Multi-Use Sports Complex. </strong> (<span style="color: #00ff00;"><span style="color: #00ff00;"><strong>YES!</strong></span><span style="color: #333333;">)</span></span></p>
<p>Open Date: Monday, November 3, 2008 </p>
<p>Closing Date: Monday, November 17, 2008 </p>
<p>To be considered for employment, applicants may download an application packet at www.cityofwasilla.com; or pick up a packet on the Job Table outside the Human Resource Office at City Hall &#8211; 290 E Herning Ave Wasilla &#8211; Monday thru Friday between 8AM and 5PM. </p>
<h3>CONCLUSION: <span style="color: #ff0000;"><span style="color: #00ff00;">QUALIFIED!</span></span></h3>
<p> </p>
<h3>4.) <a href="http://anchorage.craigslist.org/mar/903440872.html"rel="nofollow"  target="_blank">$100 Cash For EVERY single Referral</a> <span style="font-weight: normal;">(</span><a href="http://anchorage.craigslist.org/mar/903440872.html"rel="nofollow"  target="_blank"><span style="font-weight: normal;"><span style="font-weight: normal;">see original</span></span></a><span style="font-weight: normal;">)</span></h3>
<p>The next 10 days we will pay 100$ cash for every booked referral we get from you! </p>
<p>Its that simple , send us your family, friends, co-workers etc and <strong>get $$$$ cash</strong>!! (<span style="color: #00ff00;"><span style="color: #00ff00;"><strong><span style="color: #00ff00;">YES! SCORE!</span></strong></span><span style="color: #000000;">)</span></span></p>
<p>and the first person to refer 10 people Before the 15th of Nov gets an entire year of <strong>FREE JLM shoots</strong>!! (<span style="color: #00ff00;"><span style="color: #00ff00;"><strong>YES! SCORE!</strong></span><span style="color: #000000;">)</span></span></p>
<p>( 1 per month for 12 calendar months group shoots do not apply) </p>
<p>Repost this for a special incentive gift from JLM!! </p>
<p>BOOK NOW!! </p>
<p>check out the over 4000 pics in our various albums! and contact JLm for maternity and Nude images. </p>
<p>*** all shoots are 1/2 price during Nov!!***</p>
<h3>CONCLUSION: <span style="color: #ff0000;"><span style="color: #00ff00;"><span style="color: #00ff00;">QUALIFIED!</span></span></span></h3>
<p> </p>
<h3>5.) <a href="http://anchorage.craigslist.org/edu/903113403.html"rel="nofollow"  target="_blank">NANNY NEEDED</a> <span style="font-weight: normal;">(</span><a href="http://anchorage.craigslist.org/edu/903113403.html"rel="nofollow"  target="_blank"><span style="font-weight: normal;"><span style="font-weight: normal;">see original</span></span></a><span style="font-weight: normal;">)</span></h3>
<p>THREE YOUNG KIDS NEED A <strong>LOVING NANNY</strong>. MUST HAVE YOUR OWN TRANSPORTATION FOR THE SCHOOL KIDS. PRIVATE ROOM AND BATHROOM AVAILABLE. MUST BE COMFORTABLE WITH DOGS. NEED TO BE ABLE TO FIX LUNCH FOR ONE CHILD DURING THE DAY AND DINNER FOR ALL AFTER SCHOOL. (<span style="color: #00ff00;"><span style="color: #00ff00;"><strong><span style="color: #00ff00; ">YES!</span></strong></span><span style="color: #000000;">)</span></span></p>
<h3><strong>CONCLUSION: </strong><span style="color: #ff0000;"><span style="color: #00ff00;"><span style="color: #00ff00;"><strong><span style="color: #00ff00;">QUALIFIED!</span></strong></span></span></span></h3>
<p> </p>
<h3>6.) <a href="http://anchorage.craigslist.org/crg/885802669.html"rel="nofollow"  target="_blank">Photographer wanted for photos of sarah palin&#8217;s house.</a> <span style="font-weight: normal;">(</span><a href="http://anchorage.craigslist.org/crg/885802669.html"rel="nofollow"  target="_blank"><span style="font-weight: normal;"><span style="font-weight: normal;">see original</span></span></a><span style="font-weight: normal;">)</span></h3>
<p>I would like to obtain <strong>pictures of sarah palin&#8217;s house</strong>. (<span style="color: #00ff00;"><span style="color: #00ff00;"><strong><span style="color: #00ff00;">YES! </span><span style="color: #00ff00;">THAT&#8217;S MY HOUSE!</span></strong></span><span style="color: #333333;">)</span><span style="color: #000000;"> Front, back, or even aerial. I&#8217;m a Senior Citizen with a pittance of Social Security income (i.e. no money) (<strong><span style="color: #00ff00;">MAVERICK!</span></strong>), but I am a master photographer myself, can consider trade of some sort. </span></span></p>
<h3><strong>CONCLUSION: </strong><span style="color: #ff0000;"><span style="color: #00ff00;"><span style="color: #00ff00;"><span style="color: #00ff00;"><strong><span style="color: #00ff00;">QUALIFIED! BUT HOW TO PAY FOR DRY CLEANING?</span></strong></span></span></span></span></h3>
<p> </p>
<h2>OTHER JOBS THAT PALIN IS TOTALLY <span style="color: #ff0000;">NOT QUALIFIED</span> FOR:</h2>
<p><a href="http://anchorage.craigslist.org/lbg/883038541.html"rel="nofollow"  target="_blank">need someone to split and stack wood</a></p>
<p>I need someone that is experienced to split and stack wood for me. We have A splitter and a small chainsaw for use. But if you have a chainsaw of your own that would be a plus, I can supply gas. Hopefully this will be a quick job, I need to get it done soon. call me ASAP and give me a price u would charge. </p>
<p>thank you </p>
<p>355-2630</p>
<p> </p>
<p><a href="http://anchorage.craigslist.org/lbg/874628683.html"rel="nofollow"  target="_blank">Gutter Installer</a></p>
<p>I am looking for a self motivated leader type. Must have some carpentry skills. </p>
<p>Must be compfortable working from ladders and not a fear of heights. Must not mind working outside in the winter. I take a month or so off around Jan. To cold to work. I would like honest reliable and good customer skills. Pay depends on experience. If this sounds like you please reply to posting.</p>
<p> </p>
<p><a href="http://anchorage.craigslist.org/trd/902902450.html"rel="nofollow"  target="_blank">Glass art store seeks Alaskan artist&#8217;s</a></p>
<p>New glass artwork store in Wasilla featuring local Alaskan made glass artwork. We are consigning artist’s display spaces and will fill our store with a local’s only selection that will be unrivaled in Alaska. If you are a local glass artist, or a artist of any kind, and would like to display your work for sell or exhibit Call (907) 775-7121. </p>
<p>Please leave a message with the “Mental Health Hotline” a joke on my personal voicemail, call and you will here, LOL… I will call you back latter as I will be out of state for 3 weeks and the store will open December 1st 2008. </p>
<p>And YES we do sell glass pipes, however I have no desire to be know as a “Head Shop” and do not sell tobacco or tobacco related products.</p>
<p> </p>
<p><a href="http://anchorage.craigslist.org/edu/902787313.html"rel="nofollow"  target="_blank">Experienced Preschool Teacher</a></p>
<p>Kidzone Daycare is currently seeking a part time or full time preschool teacher. Must have both a Preschool Education and Preschool experience, and be a motivated self starter. Please contact Kidzone Daycare at 907-376-5468 and ask for Melissa or Rachael.</p>
<p> </p>
<p><a href="http://anchorage.craigslist.org/spa/902465805.html"rel="nofollow"  target="_blank">nail tech</a></p>
<p>Tuesday-saturday 10-6 Private room with top of the line pedicure chair, large manicuring desk and sink. Must need to know how to do acrylics, silk, and gels. commision only. Call 357-8477 ask for Dani</p>


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		<title>Wachovia and Washington Mutual Customers: Moving on</title>
		<link>http://www.taxrascal.com/wachovia-and-washington-mutual-customers-moving-on/131/</link>
		<comments>http://www.taxrascal.com/wachovia-and-washington-mutual-customers-moving-on/131/#comments</comments>
		<pubDate>Wed, 01 Oct 2008 04:30:16 +0000</pubDate>
		<dc:creator>Tax Rascal</dc:creator>
				<category><![CDATA[FYI]]></category>
		<category><![CDATA[Featured]]></category>
		<category><![CDATA[Banks]]></category>
		<category><![CDATA[wachovia]]></category>
		<category><![CDATA[Washington Mutual]]></category>

		<guid isPermaLink="false">http://www.taxrascal.com/?p=131</guid>
		<description><![CDATA[While employees of the former Washington Mutual and Wachovia are busy fixing embarrassingly apt broken signs and fairly awkward ads, their depositors are wondering: what next? Although their deposits are protected by the FDIC, many people would just prefer not to be a customer of JP Morgan Chase or Citigroup &#8212; they want their old [...]]]></description>
			<content:encoded><![CDATA[<p>While employees of the former Washington Mutual and Wachovia are busy fixing <a href="http://flickr.com/photos/astaff/2891069967/" rel="nofollow" >embarrassingly apt broken signs</a> and <a href="http://flickr.com/photos/jonathanhstrauss/2901323573/" rel="nofollow" >fairly awkward ads</a>, their depositors are wondering: what next? Although their deposits are protected by the FDIC, many people would just prefer not to be a customer of JP Morgan Chase or Citigroup &#8212; they want their old bank back!</p>
<p>I can&#8217;t offer that, but I can offer a few tips on choosing a new bank:</p>
<ol>
<li>Try to find someone a little less trendy. Wachovia <a href="http://bloomberg.com/apps/news?pid=20601110&amp;sid=abKZCA9uKuL8" rel="nofollow" >bought one of the biggest providers of adjustable rate mortgages, at the peak of the property boom</a>. And WaMu cleverly reasoned that, at a time when people are beginning to mistrust big financial institutions, and to worry that these companies were not exercising careful stewardship over their customers&#8217; money &#8212; it was time to sink millions of dollars into an ad campaign associating WaMu with the phrase <a href="http://flickr.com/photos/jdong/2341769999/" rel="nofollow" >&#8220;Whoo hoo!&#8221;</a>. As in, &#8220;Whoo hoo, we <a href="http://www.creditwritedowns.com/2008/08/bloomberg-500-billion-in-writedowns-by.html" rel="nofollow" >lost $14 billion</a> before before being taken over by the government and sold to a competitor!&#8221;To avoid this, try to find a bank that&#8217;s un-trendy, or better yet, anti-trendy. Forget about subprime &#8212; think about the last incredibly stupid financial bubble. A company like Crazy Woman Creek Bancorp (an actual company, located Buffalo, Wyoming) is clearly too stubborn to follow any kind of trendy new nomenclature. But a bank with a dot-com in the name? Probably not so safe.</li>
<li>Be careful what you wish for. Although both WaMu and Wachovia got into trouble for services most of their customers never asked for or used, going the other way can get you in trouble, too. Big banks bend over backward to come up with new spins on traditional banking services, so if you&#8217;re used to hyper-convenient high-interest checking accounts linked to reward-program credit cards and low-fee brokerage accounts, expect to lose some or most of those perks with a smaller company.You don&#8217;t get <em>less</em>, of course, but what you get is <em>different</em>. For example, the President of the bank is likely to live down the block, rather than in a penthouse on Park Avenue. And he&#8217;s more likely to drive a used car than a Gulfstream. For whatever reason, the used-car drivers of the world seem less likely to lend to shaky third-world governments, dodgy real estate deals, or complicated credit derivatives dealers.</li>
<li>Ignore all the advice you get. WaMu was legendary in the banking business. Not just for becoming a huge company pretty quickly, but for sidestepping the subprime mortgage business until they were sure it was a sure thing. Wachovia was considered a rock-solid company with very conservative management. And if someone had told you to avoid them earlier, you wouldn&#8217;t be reading this now.</li>
<p>It&#8217;s surprising how all this turned out. The average banker has lost the six-figure job, the stock, the stock options, and a lot of reputation (and probably some friends). The average customer needs to deal with the paperwork of moving an account from one FDIC-insured bank to another. You might even start to suspect that the customers are better at banking than the bankers.</ol>


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		<title>Major stories you didn&#8217;t hear about yesterday: Hurricane in Canada, Ron Paul tells it how it is, people in South can&#8217;t get gas!</title>
		<link>http://www.taxrascal.com/stories-you-did-not-hear-during-stock-crash/114/</link>
		<comments>http://www.taxrascal.com/stories-you-did-not-hear-during-stock-crash/114/#comments</comments>
		<pubDate>Tue, 30 Sep 2008 14:32:49 +0000</pubDate>
		<dc:creator>Tax Rascal</dc:creator>
				<category><![CDATA[FYI]]></category>
		<category><![CDATA[Featured]]></category>

		<guid isPermaLink="false">http://www.taxrascal.com/?p=114</guid>
		<description><![CDATA[While yesterday, most people were (rightfully) concerned about the 777-point Dow crash, many stories were largely ignored, or at least, barely mentioned. Here is a list of those stories that you probably missed yesterday (in no particular order):
1. Canada Gets Hit by a Hurricane
Hurricane Kyle went through parts of Maine and hit Canada, bringing heavy [...]]]></description>
			<content:encoded><![CDATA[<p>While yesterday, most people were (rightfully) concerned about the 777-point Dow crash, many stories were largely ignored, or at least, barely mentioned. Here is a list of those stories that you probably missed yesterday (in no particular order):</p>
<h3>1. <a href="http://www.nytimes.com/aponline/us/AP-Tropical-Weather.html" rel="nofollow" >Canada Gets Hit by a Hurricane</a></h3>
<p>Hurricane Kyle went through parts of Maine and hit Canada, bringing heavy rain and wind.</p>
<h3>2. <a href="http://www.youtube.com/watch?v=ticytEUvVhQ" rel="nofollow" >Ron Paul says it how it is: corporatism &#8211; not free markets led to crash</a></h3>
<p><object classid="clsid:d27cdb6e-ae6d-11cf-96b8-444553540000" width="425" height="344" codebase="http://download.macromedia.com/pub/shockwave/cabs/flash/swflash.cab#version=6,0,40,0"><param name="allowFullScreen" value="true" /><param name="src" value="http://www.youtube.com/v/ticytEUvVhQ&amp;hl=en&amp;fs=1" /><embed type="application/x-shockwave-flash" width="425" height="344" src="http://www.youtube.com/v/ticytEUvVhQ&amp;hl=en&amp;fs=1" allowfullscreen="true"></embed></object></p>
<h3>3. <a href="http://www.nytimes.com/2008/09/30/us/30gas.html" rel="nofollow" >For the past 2 weeks, people in Tenesse, George, &amp; North Carolina have limited access to gas</a></h3>
<p>People in these states are getting ever more aggravated as they are being forced to wait in long lines to gas up their vehicules. This may encourage more to use alternative transportation on the other hand&#8230;only if there were more of it available.</p>
<h3>4. <a href="http://www.nytimes.com/2008/09/27/opinion/27herbert.html" rel="nofollow" >Bob Herbert comes down on Palin</a></h3>
<p>In an editorial on Monday, Herbert says, &#8220;History has shown again and again that a vice president must be ready to assume command of the ship of state on a moment’s notice. But Ms. Palin has given no indication yet that she is capable of handling the monumental responsibilities of the presidency if she were called upon to do so.&#8221;</p>
<h3>5. <a href="http://www.nytimes.com/2008/09/30/world/middleeast/30olmert.html" rel="nofollow" >Olmert says Israel should pull out of West Bank</a></h3>
<p>This is huge! Ehud Olmert goes and has an interview published on Monday, saying that Isreal must withdraw from the West Bank &amp; East Jerusalem. He is going against the Israeli defense doctrine&#8230;</p>
<h3>6. <a href="http://www.nytimes.com/2008/09/30/science/30collide.html" rel="nofollow" >Two guys in Hawaii try (unsuccessfully) to sue to halt the Big Hadron Collider</a></h3>
<blockquote><p>Last spring, Walter Wagner, a retired radiation safety officer who lives in Hawaii, and Luis Sancho, a science writer and professor in Barcelona, filed the lawsuit, claiming that the collider could produce a black hole that could eat the Earth or cause some other calamitous effect. Predictions of such outcomes have been refuted in safety studies.</p></blockquote>
<h3>7. <a href="http://www.nytimes.com/2008/09/30/us/30nursing.html" rel="nofollow" >Over 90% of nursing homes in America are in some violation of federal health and safety standards</a></h3>
<p>Better think twice before sending granny off to retirement!</p>
<h3>8. <a href="http://www.guardian.co.uk/world/2008/sep/30/china.cadburyschweppes" rel="nofollow" >Oreos, M&amp;Ms and Snickers may be poisenous due to bad milk</a></h3>
<p>Indonesia recalls various products due to traces of melamine in Chinese-made chocolate treats.</p>
<h3>9. <a href="http://www.cnn.com/2008/CRIME/09/29/teacher.teen.sex.ap/index.html" rel="nofollow" >The teacher who took her 13-year-old lover with her to Mexico gets 6 years</a></h3>
<p>This is before charges of kidnapping and firt-degree sexual assault come down.</p>
<h3>10. <a href="http://www.people.com/people/article/0,,20229717,00.html" rel="nofollow" >Janet Jackson hospitalized</a></h3>
<p>OMG.</p>


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