European Leaders Attack Merkel’s Austerity Program

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France’s ruling Socialist Party is pressing President Francois Hollande to toughen his stance towards a German counterpart it describes as “self-centered”, arguing that Chancellor Angela Merkel’s pro-austerity policies are hurting Europe.  Article  The austerity debate continues.  If Germany and other core euro-area economies were to shift from cutting spending to providing a stimulus, then imports from Europe’s weaker economies would grow and those countries wouldn’t be forced to do all of the adjusting. Their recessions would be shallower as a result.  Regrettably, there is little sign that there is the political will for this in Germany. The risk is that by the time the euro area’s stronger economies do support a more symmetrical adjustment, they may themselves be too fiscally burdened to help.  Article

 

 

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Financial Empowerment Day at the New York Public Library

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The Science, Industry and Business Division of the New York Public Library is located at 34th Street and Madison Avenue in New York City. As you would expect from a great library in one of the world’s great financial centers, it offers every day an abundance of resources to all comers. April 26th was Financial Empowerment Day.
Financial Empowerment Day at the New York Public Library

New York Public Library

New York Public Library

THE BUCK STOPS HERE: IMPROVING U.S. ANTI-MONEY LAUNDERING PRACTICES

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Senators push Obama for improved money regulations

With the report termed “The Buck stops here: Improving U.S. Anti-Money Laundering Practices” Sens. Dianne Feinstein and Chuck Grassley are calling upon the Obama administration and Congress to clamp down on international “blood money” laundering operations that annually wash well over $1 trillion for drug traffickers and other criminals.

Feinstein (D-Calif.) and Grassley (R-Iowa), the leaders of the Senate Caucus on International Narcotics Control, contend that a combination of regulatory actions in the United States would effectively curtail laundering and, in turn, the drug trade.

“Drug traffickers are motivated by one thing: money,” Feinstein said. “The illicit proceeds from their crimes are blood money, and blood money has no place in our financial system.”
THE BUCK STOPS HERE: IMPROVING U.S. AML PRACTICES

THE BUCK STOPS HERE: IMPROVING U.S. ANTI-MONEY LAUNDERING PRACTICES

THE BUCK STOPS HERE:
IMPROVING U.S. ANTI-MONEY
LAUNDERING PRACTICES

 

Big Four Accounting Firms Writing Laws in Parliament

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Margaret Hodge,MP and the PAC’s chair, said the actions of the accountancy firms were tantamount to a scam and represented a “ridiculous conflict of interest” which must be stopped. “The large accountancy firms are in a powerful position in the tax world and have an unhealthily cosy relationship with government,” she said, calling for the Treasury to stop accepting their staff to draw up new tax laws.  Article

big four

Buffett Recommends Studying Failure

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“I like to study failure,” Buffett, 82, said at the annual meeting if Coca Cola held in the Cobb Galleria Center in Atlanta. “We want to see what has caused businesses to go bad, and the biggest thing that kills them is complacency. You want a restlessness, a feeling that somebody’s always after you, but you’re going to stay ahead.”  Article

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Share Women and Money Around the World: Saving, Struggling and Teaching the Kids

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A Matter of Priorities

For many women, raising their children to be financially savvy is extremely important, particularly if they come from an economically stressful situation. More than likely, this is because the parents want their kids to be better off financially than they are.

Interestingly, the survey found that mothers, rather than fathers, spent the most time talking with their children about money management, budgeting, saving, responsible spending, and debt. On the other hand, men are slightly more likely to have a budget and emergency savings — two key indicators of economic stability for a family…article
Please check WTW Financial Literacy Report  
International Barometer of Women’s Financial Literacy / Visa
Women Need To Get Serious About Emergency Savings

 

Success stories: Contributing towards women empowerment, every step counts

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ISLAMABAD: 

Over 1,500 women participated in a project aimed at honing their leadership skills and enabling them to make effective decisions in personal, social and political spheres. Gathered from 30 districts, some 50 women leaders shared their experiences at the concluding ceremony of the project titled “Raise Her Voice” here on Wednesday…article  About 5,370 women have been connected to micro finance institutions for loans

Raid of Hotel Carlyle Art Gallery on Gambling and Money Laundering Charges

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Leo Tolstoy traveling from Zurich to Stuttgart, looked out the train window and saw the moon: a good omen, he thought.  The French banker sitting next to him was on his way to the gaming tables in Baden-Baden, and Tolstoy decided to join him.  “Roulette from morning to night,” he writes in his diary.  “Lost, but made it up toward the end of the day.” The next day he lost everything.  The banker bailed him out and left town.   Tolstoy kept losing until Turgenev arrived to clean up matters and get him out of town.

The Russians have always loved Baden-Baden.  In 1793, Czar Alexander took Lousie Princess of Baden as his wife.  A Russian orthodox church was built for a Czar and is the place of worship today for the Russians who have taken over Baden-Baden.

Russian laundered money is very much in the news, but not in Germany.  Cyprus is in the headlights and German Chancellor Angela Merkel is leading the charge.  “He that among you who is without sin, let him cast the first stone.”

The US seems to take laundered money more seriously.  Authorities shuttered a presumed outlet for dirty Russian money in the Carlyle hotel.   Article

artraid