Friday, February 28, 2014

Wealthy escape taxation, Senate says

Wealthy escape taxation, Senate says: Lobbyists win!
Billions of dollars in U.S. taxes are going unpaid because Americans are exploiting Swiss bank accounts, and the U.S. government has failed to aggressively pursue Switzerland's second-largest bank, a Senate investigation has found. Credit Suisse, has provided accounts in Switzerland for more than 22,000 U.S. clients totaling $10 billion to $12 billion, according to the report. The U.S. government has received only 238 names ofU.S. citizens with secret accounts at Credit Suisse, or just 1 percent of the estimated total, the investigation concluded. Pay your fair share
Now, IRS account lets you go tax-FREE at no cost too:

IRS lets you cut your tax by up to $1,000 per child
If you have a child under age 17, the Child Tax Credit may save you money at tax time. The non-refundable Child Tax Credit may help cut your federal income tax by up to $1,000 for each qualifying child you claim on your tax return. Check if you qualify:,-Additional-Child-Tax-Credit

Real estate is popular alternate investment after stocks and bonds
77 percent of millionaire investors say they own real estate, and 35 percent say they own Real Estate Investment Trusts (REITs). This is a key finding of the Morgan Stanley Wealth Management Investor Pulse Poll. Additionally, after real estate and REITs, millionaire investors cite ownership of collectibles (34 percent), followed by precious metals (28 percent), private equity (27 percent), real assets (oil, gas, mining, 17 percent), private real estate funds (16 percent), hedge funds (16 percent), and venture capital (13 percent). Stock/bond funds have returned over 11% per year since 1976. REIT funds have returned over 10% since 1996:

What you need to know about ObamaCare for your 2013 tax prep.
For most people, the Affordable Care Act has no effect on their 2013 federal income tax return.
The individual shared responsibility provision and the premium tax credit do not affect your 2013 federal income tax return. Some tips for 2014:

How much subsidy do you qualify for?
With the March 31 deadline for getting health insurance fast approaching, people can now use a new website to help them find out if they qualify for financial assistance if they buy a health insurance plan on the website.
The website -- -- is based on research that shows two-thirds of uninsured adults eligible for government subsidies on the new health exchanges don't know the subsidies exist, and that more than 80 percent said they would likely obtain insurance if they had financial help.

House GOP to vote 50th time on ACA repeal
The House will vote again on repealing ObamaCare this session. It has voted 49 times to repeal, defund or roll back the 2010 health-care law since Republicans took control in 2011, according to a tally kept by Majority Whip Kevin McCarthy’s office.
The House will also vote to dismantle regulations on coal, gas and electric utilities despite the pollution caused by lack of regulation in the WV and NC catastrophes last month. Lobbyists are working overtime.

Mentally Ill in 11 Southern States Excluded from Care
Dashed Hopes, Broken Promises, More Despair: How the Lack of State Participation in the Medicaid Expansion Will Punish Americans With Mental Illness," released by the American Mental Health Counselors Association (AMHCA) — shows that 6.7 million uninsured people with a mental illness are currently eligible for coverage under the Medicaid Expansion that went into effect on Jan. 1, 2014. But the majority of these individuals with mental health conditions will be left out in the coverage cold due to their state's antagonism toward the Medicaid Expansion health insurance initiative.

Workers no longer trapped by insurance, start businesses, make jobs
Now that Karen Willmus can get health insurance through Obamacare, she plans to quit teaching 9th grade English at the end of the school year. The 51-year-old found policies on the Colorado state exchange for about $300 a month. That's less than what she's paying now for employer-sponsored coverage and less than half what she paid on the individual market in 2007. Like Willmus, millions of people could quit their jobs or cut back on their hours in coming years because of Obamacare. Many Americans may opt to work less to retain eligibility for Medicaid or subsidies. But for some, Obamacare is allowing them to become entrepreneurs or retire a few years early since they'll be able to find affordable individual coverage for the first time. Instead of eating bonbons on her couch, Willmus plans to start her own business with her teen daughter publishing materials for non-native English speakers and others looking to improve their literacy. She expects to work even more than she does now and hire two or three people. Maybe ObamaCare is not so bad after all.

Doctors Become Reluctant Employees: Many Forced Out of Private Practice
Many physicians see employment as a necessary "shelter from the storm" in today's healthcare environment. When asked to select the three reasons to pursue an employed opportunity, necessity ("it is the only financially viable option") was most frequently selected as the primary motivation for choosing employment over primary practice, and the second most common answer selected as one of several motives. Doctors are looking for a work and personal life balance when seeking employment. "Our experience tells us that this trend is in response to heavy workloads, financial pressure from decreasing insurance reimbursements and rising costs of practice ownership," one recruiter said.

Investors moved all their equity money to Vanguard in 2013
As of November, all but $1 billion of the $41 billion investors added the US equities in 2013 went to Vanguard. Money managers and their owners are really worried about the indexing trend. The answer is simple: costs count. If you pay 2% a year for your 401k, mutual funds or IRA/pension contributions, the managers and owners can take up to 63% of your nest egg over time. It’s compounding. $3,000 a year grows to $1 million in 34 years.

Why WhatsApp is worth $19 B? Why not voice mail or email?
The average adult Facebook user has more than 300 Facebook “friends.” It’s an ego thing? “I fear all communication in the digital age is being reduced to shouting in a crowded theater,” Actually, the average adult has far fewer friends — perhaps just a couple in many cases, researchers say — whom they talk to regularly in their real-world social network. “The address book is a simple, reusable list for any application, and simplicity always wins.” The popularity of private-messaging applications like WhatsApp, which has more than 450 million users, suggests that despite all the technological advances in recent decades, people still crave to communicate in small groups and often just with one other person at a time. WhatsApp Messenger is a cross-platform mobile messaging app which allows you to exchange messages without having to pay for SMS. It uses the same internet data plan that you use for email and web browsing, so there is no cost to message. It is a Yahoo email account for your phone.
What is old is new again and worth $19 Billion??? to Zuckerberg.

TN outlaws claims for sinkholes—lobbyists win
Despite some bipartisan objections, the Tennessee House of Representatives has narrowly approved legislation that intended to reduce or prevent homeowner claims against insurance companies from damages caused by sinkholes. Rep. Curry Todd, R-Collierville, who said the measure allows insurance companies to cancel policies “in mid-term on anyone” if they feel a claim may develop. “This is one of the most blatant bills I’ve seen to benefit one particular industry at the expense of the consumer,” said House Democratic Caucus Chairman Mike Turner of Nashville. “Today’s it’s sinkholes. The next day it’s going to be earthquakes and the day after, it’s going to be hail,” Travis said.

Tesla, Lexus triumph in Consumer Reports' annual rankings
Among the other nine top picks, Honda and Subaru claimed two apiece, with Toyota, Audi, Ram, BMW and Hyundai taking the rest. Among Detroit brands, Buick and GMC posted the highest scores, with General Motors as a whole generally performing better than Ford or Chrysler, whose Jeep brand scored lowest among those ranked.

"It's not possible, I'm a nun," she told doctors, according to the Italian press.
A nun who was rushed to hospital complaining of acute stomach pains has given birth to a baby boy – and named him Francesco after the Pope. The 31-year-old nun began to feel severe abdominal cramps on Wednesday and gave birth just a few hours later.
This is why ObamaCare requires all employers to offer birth control to employees!

SCAMS          Why are we still paying $700 Billion a year for WWII deployments?
We are paying for 164,253 of our active-duty armed personnel to be in 150 countries around the world. We have about 50,000 in Japan and 50,000 in Germany.
Are we preparing for WWII again? There are 1,208,083[1] armed personnel in the United States. Our taxes pay for about HALF of the WORLD’s military expenditures every year.

DoD head Hagel proposes budget cut but still pay for F35 plane failures.

IRS warns of scams this year
Characteristics of these scams can include:
•    Scammers use fake names and IRS badge numbers. They generally use common names and surnames to identify themselves.
•    Scammers may be able to recite the last four digits of a victim’s Social Security Number.
•    Scammers “spoof” or imitate the IRS toll-free number on caller ID to make it appear that it’s the IRS calling.
•    Scammers sometimes send bogus IRS emails to some victims to support their bogus calls.
•    Victims hear background noise of other calls being conducted to mimic a call site.
After threatening victims with jail time or a driver’s license revocation, scammers hang up and others soon call back pretending to be from the local police or DMV, and the caller ID supports their claim. Read more:

British spies caught collecting our ‘sexually explicit’ pictures—YOUR private pictures
A British intelligence agency collected video webcam images — many of them sexually explicit — from millions of Yahoo users, regardless of whether they were suspected of illegal activity, according to accounts of documents leaked by Edward J. Snowden.
It is unclear how much of the data was shared with American officials at the National Security Agency, though the British ran queries of the data using a search tool provided by the N.S.A. calledXKeyscore, according to a report on Thursday by The Guardian.
The documents show that in one six-month period in 2008, the agency collected webcam imagery – substantial quantities of which were sexually explicit – from more than 1.8 million Yahoo user accounts globally. Certainly a Key Score for the boys!

Who owns your account now?
First Commonwealth Financial Advisors to Cantor Fitzgerald Wealth Partners

41 Watchung Plaza, B242
MontclairNJ 07042

Friday, February 21, 2014

Tax-Refund Millionaires

Refunds are larger this year—$3,229
You can find out where your refund is at
What do you do with your tax refund?
Let Uncle Sam help you reach your goals.
Michele invested her refund every year and now has more than enough for retirement.
“This is the no-pain way to save.” She is a Tax-Refund Millionaire:

This is why your advisor keeps raising your fees
Bank of America Merrill Lynch, which led the wirehouses with 26.6% profitability last year, should be able to top 30% pretax profit margins, executives of the brokerage firm said Tuesday. “We think over time, a 30% operating margin is an achievable operating margin in a normalized interest rate environment,” said Andrew Sieg, head of global wealth and retirement solutions at Bank of America Merrill Lynch. “We feel very good we can balance profitability, as well as ongoing investment in this business.”
You can keep their 30% profits on your money my moving to low-cost providers:

Do you still need your life insurance policy?
As you near retirement, consider whether paying for life insurance is a necessary expense. If you bought term to protect your family while you worked, you may be able to cancel when you “cancel out” of full-time work. If you own cash value (whole or universal) life, consider what to do with this asset. Is it needed? What can you do with the cash value? Is it taxable? Can you convert it to a stream of income? Will your family need it during retirement? Does the beneficiary need to be changed? Check the alternatives:

Wealthy say ideal retirement costs about $2 million
Each person’s situation is different according to a survey of about 500 millionaires. Some have paid their mortgage and plan to give $10,000 a year to charity. Most have saved and invested their own incomes. Few respondents inherited their wealth. Most were comfortable explaining their legacy plans to their kids. Since they have at least 20 years in retirement, they plan on doing all the things they dreamed of doing. Many will stay active and continue to work in the charities they support. They say the key is planning:

Let Uncle Sam help you reach your goals
You can make a deductible IRA contribution for 2013 up to April 15, 2014, if you have income and you are not over age 70.5. Your contribution can reduce your income, thus reducing your tax. You may also receive a tax credit which offsets any tax you owe, dollar for dollar. You may be able to take a deduction even if your spouse is an “active participant” in a company-sponsored retirement plan for 2013.
If your contribution is not deductible, you may be able to make a Roth IRA contribution. These contributions can grow tax-FREE and are never taxed. Even your heirs can keep them growing tax-FREE.
Your refund can be used to fund your $1 million retirement fund. This is the no pain way to save:

Chained CPI for our SS benefits no longer on the table
The White House said Thursday President Obama's soon-to-be-unveiled budget will not include his past offer to accept lowered cost-of-living increases in Social Security and other benefits. There are so many retirees who count on SS benefits paying for their basic needs that this is a welcome relief. The average benefit is about $13,000 a year—less than full-time, minimum-wage work.
Social Security lifts 20 million people out of poverty. Without it, the poverty rate of our seniors would be 45%; instead it is 10%. Social Security does all of this with administrative costs of less than a penny on the dollar. Maximize your benefits:

Wellness incentives increase
Corporate employers plan to spend an average of $594 per employee on wellness-based incentives within their health care programs this year, according to a new employer survey. The most popular wellness programs continue to be focused on lifestyle management, such as physical activity programs, weight management programs and stress management. Other popular health improvement options include disease/care management programs (e.g., managing chronic health conditions, like diabetes), lifestyle-management services (e.g., weight loss advice, gym membership discounts), health-risk management services (e.g., on-site flu shots) and environmental enhancements (e.g., bike racks, walking paths). Use your share!

Older drivers see lower premiums
Today's drivers aged 70 and older are less likely to be involved in crashes than previous generations — and less likely to be killed or seriously hurt if they do crash. Time to shop for a reduced premium? Are you driving less? Do you have fewer vehicles? Have you stopped using vehicle for commuting? Have you obtained a vehicle with updated safety equipment? All these reasons could mean cutting your premium in HALF. Shop and Save:

SCAMS           Why are we still paying $700 Billion a year for WWII deployments?
We are paying for 164,253 of our active-duty armed personnel to be in 150 countries around the world. We have about 50,000 in Japan and 50,000 in Germany.
Are we preparing for WWII again? There are 1,208,083[1] armed personnel in the United States. Our taxes pay for about HALF of the WORLD’s military expenditures every year.

IRS warns of scams this year
Characteristics of these scams can include:
•    Scammers use fake names and IRS badge numbers. They generally use common names and surnames to identify themselves.
•    Scammers may be able to recite the last four digits of a victim’s Social Security Number.
•    Scammers “spoof” or imitate the IRS toll-free number on caller ID to make it appear that it’s the IRS calling.
•    Scammers sometimes send bogus IRS emails to some victims to support their bogus calls.
•    Victims hear background noise of other calls being conducted to mimic a call site.
After threatening victims with jail time or a driver’s license revocation, scammers hang up and others soon call back pretending to be from the local police or DMV, and the caller ID supports their claim. Read more:

41 Watchung Plaza, B242
MontclairNJ 07042

Friday, February 14, 2014

Maximize your income

Maximize your Social Security Benefits and Retirement Income
I wrote this book so you could maximize your Social Security benefits. The average benefit is about $15,000—about HALF the average retiree's income of $31,000. This is less than the level needed for most families. Most economists say we need 80% of the average household income of $51,000. We need to develop our own “lifestyle security.” We need to create more income—preferably tax-FREE income—to avoid the tax increases needed to pay for 2 wars, 2 tax cuts and 2 Wall Street bailouts.
Today you can make sure you are protected by creating an inflation-proof retirement Spending Plan.
You need to enter the last 30 years of your lives knowing how you both are going to manage them.

Americans want to save Social Security for their futures
A recent poll shows a majority of Americans support reducing Social Security benefits for the top 25% of earners; eventually raising the full retirement age to 68 or more; increasing the annual cap on income subject to the payroll tax to $215,000 or higher; and boosting the payroll tax rate from 6.2% to 6.6% or higher. This poll was taken after citizens were educated about SS benefits. For instance, if Congress does nothing, Social Security benefits will be cut by 23% starting in 2033. Do want the changes?
Will the millionaire-do-nothing Congress protect those less fortunate or will they continue to funnel subsidies and tax loopholes to their donors?
Let me know how would you vote?

Free tax prep finds best deductions for you
Many free tax preparation software aps provide you with the questions to determine if you should file with standard or itemized deductions. You don’t need to waste time completing the Schedule A, B etc if you don’t have to. For instance, if you don’t have high medical, property tax, mortgage interest expenses, it is unlikely that you can beat the $12,200 standard deduction for married jointly. Deductions vary by your situation so the software will know which forms to send depending on your answers. Find free software at

Long-term care insurance alternatives
If you are considering this protection to help save your assets for you or your spouse later on, you need to plan carefully. Others in your situation have used certain financial products to make sure the remaining spouse keeps the maximum assets to live on. Can you keep your home? Which assets are “countable”? My Dad paid nothing for his two nursing home stays. Medicaid qualification is complicated so learn what you really need to do in advance by using our guide:

Two Americas: who are the unemployed—really?
A large number of men who are still in their prime working years find themselves without jobs for extended periods, despite an improving economy, according to The Wall Street Journal. The trend has been building for decades. The percentage of unemployed men 25 to 54 more than doubled between the early 1970s and 2007, from 6 percent to 13 percent, before jumping to 20 percent in the depths of the recession in 2009, according to the article. Some politicians say the unemployed are lazy and like living on $1200 a month instead of working. That might cover rent alone in many cities.
Americans are working more than ever but their real income is the same as 1970s.
According to a recent Workforce Management study, since the great recession, 55% of employees have seen their workload increase, and 27% say it’s doubled. The constant pressure to do more with less, coupled with the belief that being busy means we’re important, is creating an unsustainable pattern. Productivity gains went to the bosses. “Man [kind] does not live by bread alone.”
In future, will elites keep this group of unemployed in suspense playing video games, gambling money they don’t have, engaged in filling up time like Romans at the free coliseum games? Will politics create more make-work jobs like Christie appointees at the Port Authority? Or Obama’s ambassadors to Argentina, Hungary and Norway.

Reliable used luxury cars are the choice for working millionaires
Lexus, Mercedes-Benz and Cadillac had the vehicles with the fewest reported problems. Lexus had just 68 problems per 100 vehicles, the only brand with fewer than 100 problems. General Motors had the most winners in each segment, with eight, including the highest-ranked compact car, the Chevrolet Volt, and the highest-ranked pickup, the GMC Sierra. Toyota Motor Co. was second with seven segment winners, including the Toyota Camry minivan and Lexus ES luxury compact car.
Mini, Dodge and Land Rover had the most reported problems. Mini, the worst performer, had 185 problems per 100 vehicles.
The JD Power survey questioned 41,000 owners of 2011 model year vehicles between October and December of last year. Cost of reliable 2011 Lex in my area is $23,000.

Insurance agent hates ObamaCare—but says we should take it!
62% of bankruptcies were due to medical expenses, according to a Harvard University Study. And almost 75% of those had health insurance—they were just underinsured.  "People don't realize how serious it is to be walking around without health insurance or even simply underinsured," says Shaun Kennard. "It's a sure recipe for disaster and one that many people can avoid now as a result of either the subsidy programs or the removal of all pre-existing condition limitations."
Finally, a subsidy for us NOT EXXON. Indeed, the subsidy programs are fairly far-reaching and you may be surprised to learn that you qualify for help.  Assistance begins from a single person making less than $45,960 to a family of five with a household income less than $110,280. Buy only what you need:

ObamaCare opportunity missed by pockets of needy
A study conducted for The Associated Press found that half of the uninsured live in just 116 of the nation's 3,143 counties, and half of the coveted 19-39-year-old demographic lives in just 108 counties. The premiums of the young and relatively healthy are needed to offset the cost of insuring older adults who are more likely to have chronic illness.
Open enrollment for subsidized private insurance ends March 31 for people who don't have health care through their jobs, federal officials plan to target these counties, which lie mostly in metro areas. Five percent of the nation's uninsured live in Los Angeles County alone, where 2 million people remain uninsured.

SCAMS           Why are we still paying $700 Billion a year for WWII deployments?
We are paying for 164,253 of our active-duty armed personnel to be in 150 countries around the world. We have about 50,000 in Japan and 50,000 in Germany.
Are we preparing for WWII again? There are 1,208,083[1] armed personnel in the United States. Our taxes pay for about HALF of the WORLD’s military expenditures every year.

Gamblers lost a record $440B last year—almost covers the budget deficit
More states are involved in seducing you to play online. This makes it easier to lose $500 because some new sites are promising to give you $200 to $500 to start. Remember, follow the money! Why are they “giving” you the money to start? They know that most people can’t stop. Your odds are better with a bet on the new drug companies, using an index like Vanguard’s Health Fund which has returned 43% in one year, 17% every year since 1984. If you had “gambled” just $9 a day you would have a $1/4 million by now:

Who owns your account now?
CNA Financial life unit to Wilton Re Holdings Ltd which is backed by Stone Point Capital, Bermuda.

41 Watchung Plaza, B242
Montclair, NJ 07042


Friday, February 7, 2014

Make your tax refund tax-FREE

What do you do with your tax refund? Go Tax-FREE
About three out of four filers typically get refunds, and the IRS issues more than nine in ten of these refunds in less than 21 days. Last year, taxpayers received an average refund of $2,744. E-file, when combined with direct deposit, is the fastest way to get a refund. More than three out of four refund recipients now choose direct deposit. Create your own $1 million tax-FREE retirement fund in 25 years with your refund:

Why waste $150 to $233 on tax prep?
Save by trying to do your own return FREE at Or you can locate one of nearly 13,000 community-based volunteers that can help you file your return for free. Find a site

Check the status of your refund
The new version of IRS2Go includes an easy-to-use refund status tracker so taxpayers can follow their tax return step-by-step throughout the IRS process. Just enter your Social Security number, filing status and your expected refund amount. You can start checking on the status of your refund 24 hours after the IRS confirms receipt of an e-filed return or four weeks after you mail a paper return. Since the IRS posts refund updates on a daily basis, there’s no need to check the status more than once each day.

NC drivers get NO increase
The North Carolina Rate Bureau has chosen not to request a rate increase for 2014 on private passenger car and motorcycle insurance policies. First in US history?

Cars with highest resale value-Best value
Unless you own stock in GM, your best choice for value and reliability seems to be made in America by foreign firms. The top values include Honda, Subaru, Toyota, again.

News you never hear about
The federal budget deficit has fallen sharply over the past few years and is on track to decline even further, according to a new report from the Congressional Budget Office.

NSA collects our phone calls but not the terrorists’ calls—big waste of money
Terrorists use software Tor to bounce their calls and emails off 3 or more computers around the world so that they can’t be traced, unlike TV show depictions. Tor, an acronym for “the onion router,” is software that provides the closest thing to anonymity on the Internet. Tor started as a project of the U.S. government. More than half of the Tor Project’s revenue in 2012, or $1.24 million, came from government grants, including an $876,099 award from the Department of Defense, according to financial statements available on the project’s website.  “We will never be able to de-anonymize [find] all Tor users all the time. With manual analysis we can de-anonymize [find] a very small fraction of Tor users,” NSA said. “Encryption works,” Bruce Schneier, a cybersecurity expert who helped the Guardian analyze the Snowden documents, said at a talk in New York in January. “That’s the lesson of Tor. The NSA can’t break Tor, and it pisses them off.”
Why is NSA tracking our calls if they can’t ID terrorist’s calls/emails? It is our money.

Inflation-proof Retirement Income
Wouldn't you like to assure yourself of a tax-FREE inflation-proof income for the rest of your life without giving up control of your assets? Develop your own "lifestyle" security. You know that Social Security will end 2033. You know that income taxes will increase to pay off two wars, two tax cuts and two bank bailouts. We need to protect our future incomes! 
Today you can make sure you are protected by creating a guaranteed inflation-proof income stream of special annuities to exactly match your needs. You need to enter the last 30 years of your life knowing how you are going to obtain income. You need a realistic and flexible plan. Two-thirds of pre-retirees don't have a clue. Financial advisors favor high-cost products. You need less-biased information to find the best alternative for you. 
I help you decide which alternatives are best for you, now and later. You don't give up control of your assets. Only you know what fits your lifestyle at each stage.  

SCAMS           Why are we still paying $700 Billion a year for WWII deployments?
We are paying for 164,253 of our active-duty armed personnel to be in 150 countries around the world. We have about 50,000 in Japan and 50,000 in Germany. Are we preparing for WWII again? There are 1,208,083[1] personnel in the United States. Our taxes pay for about HALF of the WORLD’s military expenditures every year.

Congress guarantees profits to farmers, even if they don’t grow
Congress gave themselves and corporate farmers a guaranteed profit subsidy this week while cutting food stamps to hungry Americans. Many in Congress are millionaires already but they took more from poor children. Farmers like Mike Mitchell, a potato farmer in Monte Vista. He leases 38,000 acres of land to the federal government. In a program expanded in this current bill, the government makes landowners and their counties whole to let the field go unused so it doesn't drink precious aquifer water.
Mitchell and other landowners will get about $200 an acre — most from the federal government and a little from local funds — to conserve water. "We're not just insuring a crop loss," said farmer Arnusch, who also raises alfalfa and wheat. "We are insuring ourselves against the volatility of the marketplace." $200 times 38,000 is $7.6 million.
Congress is using our tax money to prop up these donors. We could buy the land at that rate:

Socialism for the Rich
American International Group is benefiting from an improved reputation after the insurer finished repaying a $182.3 billion U.S. bailout, according to its Chairman. But should America, home of the free and the brave capitalist, really be bailing out companies that lost at the derivatives gambling table? Is this what capitalism is all about? We help the rich get richer and the unemployed get the finger? Was your business bailed out?

“Wolf of Wall Street” still attacking the gullible prey
Yes, even with the movie to warn us, people are still answering the phone pitches of at least 15 Wall Street“chop shops.” Whichever script works at the time is used over and over to get victims to send their savings to the “brokers/advisors” who run wild. Protect yourself:

Cover-up a crime is a crime—here and in heaven
A U.N. human rights committee denounced the Vatican on Wednesday for “systematically” adopting policies that allowed priests to rape and molest tens of thousands of children over decades, and urged it to open its files on the pedophiles and the bishops who concealed their crimes. “The committee is gravely concerned that the Holy See has not acknowledged the extent of the crimes committed, has not taken the necessary measures to address cases of child sexual abuse and to protect children, and has adopted policies and practices which have led to the continuation of the abuse by, and the impunity of, the perpetrators,” the report said. The UN has said that the Vatican should "immediately remove" all clergy who are known or suspected child abusers. The UN watchdog for children's rights denounced the Holy See for adopting policies which allowed priests to sexually abuse thousands of children.

Police caught Vatican officials laundering money
Police said they seized 6.5 million euros in real estate and bank accounts Tuesday, including Monsignor Nunzio Scarano’s luxurious Salerno apartment, filled with gilt-framed oil paintings, ceramic vases and other fancy antiques. A local priest was also placed under house arrest for alleged involvement in the money-laundering plot. Police said in all, 52 people were under investigation.

MorganChase gets no jail time for deception on mortgages
JPMorgan Chase will pay $614 million in cash and agree to enhance its quality control program for loans that are submitted in the future to FHA’s Direct Endorsement Lender program.

41 Watchung Plaza, B242
MontclairNJ 07042