Wall Street Reform & Consumer Protection Act Focus of June 28 Economic Perspectives

Nancy Zirkin, executive vice president of The Leadership Conference on Civil and Human Rights and a key strategist for Americans for Financial Reform, will discuss the new Wall Street Reform and Consumer Protection Act on the June 28 edition of Economic Perspectives on KAZI 88.7 FM, 5:30 p.m. – 5:45 p.m.  Listen live online at kazifm.org.

The Leadership Conference on Civil and Human Rights is a coalition charged by its diverse membership of more than 200 national organizations to promote and protect the civil and human rights of all persons in the United States.

Americans for Financial Reform is a coalition of national and state organizations that have joined together to fix the financial sector and make sure it’s working for all Americans.  Members include the AARP, AFL-CIO, NAACP, National Association of Investment Professionals,  National Urban League, and many others.

Enclosed below are highlights of the Wall Street Reform legislation provided by the press office of the U.S. House of Representatives Committee on Financial Services.

HIGHLIGHTS OF THE LEGISLATION

Consumer Protections with Authority and Independence: Creates a new independent watchdog, housed at the Federal Reserve, with the authority to ensure American consumers get the clear, accurate information they need to shop for mortgages, credit cards, and other financial products, and protect them from hidden fees, abusive terms, and deceptive practices.

Ends Too Big to Fail Bailouts: Ends the possibility that taxpayers will be asked to write a check to bail out financial firms that threaten the economy by: creating a safe way to liquidate failed financial firms; imposing tough new capital and leverage requirements that make it undesirable to get too big; updating the Fed’s authority to allow system-wide support but no longer prop up individual firms; and establishing rigorous standards and supervision to protect the economy and American consumers, investors and businesses.

Advance Warning System: Creates a council to identify and address systemic risks posed by large, complex companies, products, and activities before they threaten the stability of the economy.

Transparency & Accountability for Exotic Instruments: Eliminates loopholes that allow risky and abusive practices to go on unnoticed and unregulated — including loopholes for over-the-counter derivatives, asset-backed securities, hedge funds, mortgage brokers and payday lenders.

Executive Compensation and Corporate Governance: Provides shareholders with a say on pay and corporate affairs with a non-binding vote on executive compensation and golden parachutes.

Protects Investors: Provides tough new rules for transparency and accountability for credit rating agencies to protect investors and businesses.

Enforces Regulations on the Books: Strengthens oversight and empowers regulators to aggressively pursue financial fraud, conflicts of interest and manipulation of the system that benefits special interests at the expense of American families and businesses.

Listen to Interview: Broke, USA: From Pawnshops to Poverty Inc. – How the Working Poor Became Big Business, From June 21 Economic Perspectives

Gary Rivlin, author of Broke, USA: From Pawnshops to Poverty Inc. – How the Working Poor Became Big Business, was one of the June 21 guests on Economic Perspectives.  Listen to my interview with Rivlin by clicking Gary Rivlin Interview:

Summary of Book from the Publishers Web Site

For most people, the Great Crash of 2008 has meant troubling times. Not so for those in the flourishing poverty industry, for whom the economic woes spell an opportunity to expand and grow. These mercenary entrepreneurs have taken advantage of an era of deregulation to devise high-priced products to sell to the credit-hungry working poor, including the instant tax refund and the payday loan. In the process they’ve created an industry larger than the casino business and have proved that pawnbrokers and check cashers, if they dream big enough, can grow very rich off those with thin wallets.

Broke, USA is Gary Rivlin’s riveting report from the economic fringes. From the annual meeting of the national check cashers association in Las Vegas to a tour of the foreclosure-riddled neighborhoods of Dayton, Ohio, here is a subprime Fast Food Nation featuring an unforgettable cast of characters and memorable scenes. Rivlin profiles players like a former small-town Tennessee debt collector whose business offering cash advances to the working poor has earned him a net worth in the hundreds of millions, and legendary Wall Street dealmaker Sandy Weill, who rode a subprime loan business into control of the nation’s largest bank. Rivlin parallels their stories with the tale of those committed souls fighting back against the major corporations, chain franchises, and newly hatched enterprises that fleece the country’s hardworking waitresses, warehouse workers, and mall clerks.

Journalist Gary Rivlin is the author of four previous books. His first, Fire on the Prairie: Chicago’s Harold Washington and the Politics of Race, won the 1993 Carl Sandburg Award for Best Nonfiction; his second, Drive-By, was a New York Times notable book of the year and a finalist for a PEN-West award. He has worked as a staff reporter for The New York Times, where his beats included Silicon Valley and New Orleans after Hurricane Katrina, and his work has appeared in The New York Times Magazine, GQ, Salon, Newsweek, and Wired, among other publications.

My Favorite Barber: Gary Arbuckle , Owner of Salon Echelon

I’ve been going to Gary Arbuckle, better known as Buck, for haircuts for about 13 years.  At his barber shop/hair salon, Salon Echelon, I’ve debated whether Kobe or Michael Jordan is greater, the role of the church in our community, and of course plenty of political issues.  And of course Buck gives the best haircuts.  He’s a native of Beaumont, and a UT grad.  Some of UT’s best know athletes have graced his chair.  He’s also a good friend of mine. 

So give him try if you’re looking for a new barber who cuts well and can engage in discussions of the hot sports and political issues of the day like the barbershops I grew up.  He has a special discount running for father Day/Juneteenth this weekend.  Save $3.00 on all haircuts and $10 on all chemical and natural locks services.  Make sure you ask for the discount when you visit his shop this weekend.

Hopeton

Author Will Share Time Management Tips on Economic Perspectives

Laura Vanderkam, author of 168 Hours: You Have More Time Than You Think, is the June 14 guest on Economic Perspectives, 5:30 p.m. – 6 p.m. on KAZI 88.7 FM.  Listen live online at kazifm.org.

Laura Vanderkam

It’s an unquestioned truth of modern life: we are all starved for time. With the rise of two-income families, extreme jobs, and the ability to log on to the world 24/7, life is so frenzied we can barely breathe. But what if we actually have plenty of time? What if we could sleep eight hours a night, exercise five days a week, and learn how to play the piano without sacrificing work, family time, or any other activity that is important to us? According to Laura Vanderkam, we can. If we re-examine our weekly allotment of 168 hours, we’ll find that, with a little reorganization and prioritizing, we can dedicate more time to the things we want to do without having to make sacrifices.

Vanderkam, a New York City-based journalist, is the author of Grindhopping: Build a Rewarding Career without Paying Your Dues (McGraw-Hill, 2007), which the New York Post selected as one of four notable career books of 2007. She is a member of USA Today’s Board of Contributors, and her work has also appeared in the Wall Street Journal, City Journal, Scientific American, Reader’s Digest, Reason, and other publications.

Listen to Interview with Rob Adams About How to Confirm a Market Opportunity Really Exists for Your Product or Service

Listen to my 26 minute interview with Rob Adams, author of If You Build It Will They Come? Three Steps to Test and Validate Any Market Opportunity, from the June 7 edition of Economic Perspectives by clicking here: Rob Adams Interview.

In his book Adams explains how to quickly gather information on competitors, directly interview members of your target market, and figure out what the market really wants to buy, versus what customers say they want.

Adams is an active investor, author, consultant, and on the faculty of the Management Department at the University of Texas at Austin’s McCombs School of Business, where he teaches in the MBA program and is the Director of the Global Moot Corp Program.

Prior to his appointment at the University of Texas, Adams founded Tejas Venture Partners, the second venture fund he has started. Previously he was the founder of AV Labs, a successful early stage venture fund allied with Austin Ventures, starting it after being a partner with TL Ventures.  Before entering the venture business, he was a technology executive.

CEO of Billion Dollar Online Retailer Zappos Will Share Secrets of Success on KAZI Book Review June 13

Tony Hsieh, CEO of online retailer Zappos and author of Delivering Happiness, is the June 13 guest on KAZI Book Review 12:30 p.m. – 1 p.m. on KAZI 88.7 FM.  Listen live online at kazifm.org.

• Pay new employees $2000 to quit.
• Make customer service the responsibility of the entire company, not just a department.
• Focus on company culture as the #1 priority.
• Apply research from the science of happiness to running a business.
• Help employees grow both personally and professionally.
• Seek to change the world.
• Oh, and make money too.

Tony Hsieh

Sound crazy? It’s all standard operating procedure at Zappos, which is generating over $1 billion in gross merchandise sales annually. After debuting as the highest-ranking newcomer in Fortune magazine’s annual “Best Companies to Work For” list in 2009, Zappos was acquired by Amazon in a deal valued at over $1.2 billion on the day of closing.

In his first book, Hsieh shares the different lessons he has learned in business and life, from starting a worm farm to running a pizza business; through LinkExchange (acquired by Microsoft for $265 million), Zappos, and more.

Tony shows how a very different kind of corporate culture is a powerful model for achieving success — and how by concentrating on the happiness of those around you, you can dramatically increase your own.

In 1999, at the age of 24, Tony Hsieh (pronounced Shay) joined Zappos as an adviser and investor, and eventually became CEO, where he helped Zappos grow from almost no sales to over $1 billion in gross merchandise sales annually.