Saturday, June 27, 2009

Notes and Points of View - June 27

A little over a year ago we started The Rollins Financial Blog, and with this post, we will now have more than 400 posts. The number of daily readers has grown over that time, and the e-mails, comments, and discussions that have come from posts on a wide array of subjects have been interesting to say the least.

Our format has changed a little with several people enjoying the "Quick Notes" covering various subjects with brief descriptions. One reader said that they loved the "Points of View" because they enjoyed being able to bring up certain ideas and articles at parties and appear well read (happy to help). Finally, we can certainly not forget the writings of Joe Rollins when discussing the blog. From the stories of his childhood and life to the economic discussions, we have received numerous e-mails, phone calls, and comments about his posts.

It is nice to see that so many of you enjoy the blog, and we look forward to continuing along the same track. If you have a comment or suggestion, you can e-mail us by either replying to the daily e-mail or sending an e-mail to Thanks for being part of year one of The Rollins Financial Blog.


Madoff's Wife to Relinquish Claim to Assets - The wife of Bernard Madoff has agreed to relinquish her claim to more than $80 million worth of assets and will retain just $2.5 million in cash following an agreement reached with federal prosecutors late Friday, according to a report in The Wall Street Journal. Bernard Madoff is scheduled to be sentenced by District Court Judge Denny Chin in New York on Monday.

House Passes Cap and Trade Energy Bill - What is being touted as a victory for President Obama, House lawmakers approved an energy bill on Friday that would set tough new greenhouse-gas emissions standards for U.S. companies and mandate more use of renewable energy sources. The vote was a razor thin 219 to 212. Obama argues that the bill will create jobs through new energy investments but critics say it will be a punishing tax on companies and consumers. The core of the bill is the "cap and trade" system for limiting emissions in which companies would buy and sell permits to meet emissions limits.


How Much Cap-and-Trade Bill Would Cost Families - By Catherine Rampell - Econmix Blog from The New York Times - "The costs of new energy infrastructure and purchases of carbon allowances would not, for the most part, be borne by American businesses themselves. Rather, the office says, companies would probably pass on most of those costs to customers — in particular, American households — in the form of higher prices."

Cap and Trade Doesn't Work - By Martin Livermore - The Wall Street Journal - "Advocates of the system like it because 'the polluter pays.' Setting aside for the moment the question of whether it is justifiable to call carbon dioxide a pollutant, companies of course do not simply absorb these extra costs. Instead, they pass them on to their customers who are also, by and large, taxpayers. Not only does the taxpayer carry the cost of any cap and trade scheme, but their money also provides profit for a whole new industry: the new carbon trading sector, the middlemen who make the system work."

The Climate Change Climate Change - By Kimberley A. Strassel - The Wall Street Journal - "Among the many reasons President Barack Obama and the Democratic majority are so intent on quickly jamming a cap-and-trade system through Congress is because the global warming tide is again shifting."

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