Peter Myers' Blog

Extra! Extra! Getchar Guvvament Bailout Money Hee-ah

Have you gotten these emails from various spam-like sites advising you to make sure you get "your piece of the government bailout pie"?  If ever there were a reason to be suspicious of a government that promises it is "here to help," this appears to be it.  It is common knowledge that TARP funds, named to allegedly direct my bank to relieve itself of the "troubled assets" it purchased (in between buying companies, paying bonuses to executives, and spinning off commissions to the Birkenstock-clad mortgage broker), has not really gone to buy any such "troubled assets."  Because the first hastily-passed Act did not tell the banks what to do with this money, now we have to set up a "bad bank" to buy bad assets, and we have to pay for that - again. 

The Sea Changes in Clients' Attitudes About Financial Advisors

Yesterday morning, Schwab released its fifth semi-annual survey of independent registered investment advisors.  More than 1200 independent advisors with more than $300 billion in assets under management completed the survey, which was conducted from Jan. 20-Jan. 30, 2009.  It reported a phenomenon that I have observed but only anecdotally:  there has been a sea change in how Americans view their financial advisors and seek financial advice. 

    This is my version of the "Sea Change"

Fear and Loathing on Wall Street

If you, like me, are scratching your head over the last two months, I think we have a lot of company.  Some sort of economic untethering has occurred as our economy groans to deleverage itself.  The old school thinking was that interest rates, and federal manipulation of same through targets, discount rates and fed funds rates, could control the money supply.  But recent evidence suggests that, at least on a macroeconomic level, default risk (or the perception of such risk by the underwriter) can shut down the money supply like a spigot on a leaky garden hose.

Fathers Day 2008

There's pressure on working fathers like never before.  You have seen it - carpooling, grocery shopping, cooking, cleaning and giving those kids time - the ramifications of having 75% of mothers of school-age children out in the workforce, slogging it out full time.  And while there is a general public sympathy towards working mothers, almost nothing is said, discussed, or considered about the husbands of these women.  How are we affected?

Stop Growing Up, Mom & Dad!

Our parents are getting older and every one of their body parts is getting closer to the ground.  This is the reality we see and experience every time we set foot in the old house, or greet them at the airport, or see them for the first time after a hiatus.  Its like some old person came and inhabited our [formerly young] parent's body.

More than 25% of American families are involved in elder or parent care. So if you are facing this situation in your own family, you have company. This happens to be my career and my life.  Listen or not.  Your choice.  My thoughts.  Here goes.

City of Dreams Wows San Francisco Urban Kids With Toys, Trees and Guests (Us!)

Our law clerk, “K-Rod” (Kevin Rodriguez) has been a supporter of the City of Dreams project  for several years, having mentored an at-risk 8^th grader, asked us to spend some time and energy to help this non-profit charity deliver on its annual “Day of Giving” commitment to hundreds of kids in San Francisco housing projects.  There were sponsors (getting the lists from the kids and going out and buying the toys – our firm), elves (wrapping the toys – K-Rod, Trevor, Malissa & Megan) and “Santas” (delivering the toys – K-Rod, Trevor, Heidi, Peter & family).

MLF Sponsors Habitat for Humanity in the Oakland Tribune Holiday Parade

On Saturday, December 3, the City of Oakland will be hosting the annual (Children’s) Holiday Parade through the streets of downtown Oakland.  The parade will run down Broadway beginning at 2:00 p.m.  The cost is free.

The Bay Area deserves to have a great holiday parade, and this is quickly becoming the national children's holiday parade.

Microeconomics of Oakland

Our new race for Oakland’s Mayor could be a fight over who is less ignorant of microeconomic development. 

While I have thrown my support to Mr. de la Fuente, I am concerned that both he and Mr. Dellums have a history of casting our problems as insufficient government subsidies of local business.

We rarely consider the possibility that the City of Oakland’s subsidies are the problem.  . . .