URGENT: Obama proposes “Volcker” plan to reign in banking industry

Breaking Now:

+ Includes size and complexity limits on proprietary trading by commercial banks
+ New rules, regulation, and oversight to decrease pass-through risk to customers and shareholders
+ Return to Glass-Steagall style separation of commercial and investment banks
+ “Banks no longer allowed to own and run hedge funds for their own profit”

What’s Missing?

Yes, Wall Street is corrupt and greedy. Yes, some mortgage brokers were and are corrupt and greedy. Should those two industrys be reformed? Almost certainly.

But what’s missing from this equation? How about the third leg of the stool that collapsed out from under us: Government. A major part of the housing crisis was played through grossly negligent and sometimes almost criminal lending done on the part of Fannie Mae and Freddie Mac – at the behest of the United States executive and legislative branches during their push to ensure 100% home ownership across the nation. [Source: http://bit.ly/5tCdQC]

OF NOTE: It should be noted that, as yet, 100% of the above exists only in the form of proposed legislation not yet passed completely by either the House or the Senate.

This post is currently being edited. Updates throughout the day as information comes through.

Welcome back to GGM’s weekly Wednesday article: Scotch and Cigars! Scotch and Cigars is a weekly segment answering reader questions about everything business-related. Look for it every Wednesday afternoon here at GGM.

If you have questions that you’d like answered by our panel of experts, simply submit it to the comments section below.

Your questions answered after the break!

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Welcome back to GGM News and Advice’s Monday News Roundup, where we scour the internet to find news articles and blog posts that are important to small business, sum them up, and then give them our own spin!

Hello yet again! With the stock market staying fairly flat, the government too busy worrying about healthcare to throw any other wrench into anything in our arena, and most businesses carefully treading the ice to see how the new year will fare, there isn’t very much “news” to report on.

Today, instead, we’ll cover some “pseudo”-news — informative stuff from bloggers that we all know and love!

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Welcome back to GGM News and Advice’s Monday News Roundup, where we scour the internet to find news articles and blog posts that are important to small business, sum them up, and then give them our own spin!

There has been a lot of news this past week regarding Small Business Lending — particularly relating to SBA loans expanding and loosening. Hopefully the news will make you feel a little more like Paul (after he went to Washington Mutual)!

In addition, we’ve found some great advice from MSNBC regarding pitfalls to avoid as an entrepreneur and some important facts to know about the global recovery from American Express’s Small Business blog.

We break it all down for you, after the break!

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Welcome back to GGM News and Advice’s Monday News Roundup, where we scour the internet to find news articles and blog posts that are important to small business, sum them up, and then give them our own spin!

Another year has come and gone – a year which, surely, many were glad to leave behind. From inaugurations to bailouts, from healthcare to job loss, 2009 was as turbulent a year for small business owners as many have ever seen in a lifetime. The most important thing to remember, however, is that 2009 is over and now starts a fresh, new year with every possibility and opportunity. 

For many of you, your ‘09 fiscal year is over, and now, with a clean slate, it’s time to leave the past behind and start anew. Wipe out those 2009 gremlins and get energized — or, as the Eagles might put it, get over it!

GGM News and Advice would like to wish all of our readers a happy and prosperous 2010 – and to start it out right, here’s your regularly scheduled week in review, after the break.

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The New "Face" of Social Media (See What I Did There?)

I’m betting you’ve all heard at least one person that your business HAS to participate in “social media”. Know what? They’re right! And here at GGM, we’ve hand-crafted five unique steps to help your business harness the power of social media. Read on!

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