I recently read the book by Marcus Buckingham called “Stand Out”. I originally wanted to read this book because I felt a compelling drive to build KeneXsus. I knew it was the right move. I knew it was what I was “Built” to do. But, I struggled to pin point exactly what was driving me to continue building this thing called KeneXsus.
Have you ever had the innate feeling, deep inside, that you were supposed to be doing whatever it was you were doing or working on? Maybe it was that fire that was driving you toward some goal change, career change or educational endeavor. I have had this feeling, and I wanted to be able to articulate it to our members. As a side note, this book is great at identifying your strengths and breaking down their components. It is also incredible at keeping you accountable and aware of your weaknesses.
So, I found out I am a teacher and that I enjoy gathering knowledge and sharing it with others in ways they can identify with and learn from. The thrill for me is in the giving of knowledge not the gathering or selling of it. As it turns out, I am also a deeply genuine and trustworthy person. I realized that this is why working in the banking and financial industries for the last 19 years have felt so incongruent…Ha.
To that end
I apparently, subconsciously, decided to create something that covered all
three areas I was not fulfilling through my current work. The first was creating congruence with my own
systems, beliefs and what was right. The
second was creating something I felt people could trust, something that had
more of a vested interest in teaching them something than selling them
something. This makes perfect sense as
the major difference between teaching and selling, is its genuineness!
Another area I thrive in is the area of examination. I enjoy breaking down, for instance, a complex process or theory into its discrete parts and then showing others how these parts work. This also made sense in the development of our Interactive Video Lessons or IVL’s. In that spirit, I want to tell you all about a lovely rule called the “Push Out” rule.
So, what does this mean? Simply put, it is a bank or financial institutions ability to take depositors money (your deposit's into checking and savings) and then push it out into the market, or use it, to make risky investments like credit derivatives as an example. These are the lovely little products that many correlate as being the catalyst for the housing and financial collapse in 2008 and 2009. Of which, we are still recovering. I happen to agree 100%!
Recently, a lobbyist firm drafted a bill (yes you heard me correctly, a lobbyist drafted the bill) to once again allow this practice. This would of course be undermining the newest legislation called the Dodd-Frank Bill, which had banned this practice. The amazing part of all of this is that the politician who ended up sponsoring the bill never changed a word (actually just a few for pluralism coverage) and moved in to a vote and subsequent passage into law.
We are by no means saying that all banks, lobbyists or politicians are bad. But, these types of behaviors certainly pose an ethical dilemma and place the public's trust and our money at great peril. Another point to be made is that banks and financial institutions are only playing by the rules that they are given. What we are saying is that we should be more cautious about the rules we draft and vote into law so as to ensure they are prudent and work to ensure public trust. By providing our members this knowledge, we hope to bring fourth more accountability and more effective laws and regulations to protect your money.
So, financial organizations and institutions can once again use YOUR money to make risky investments (derivatives). They can then access public funds (Like FDIC Insurance) when those investments go bad or experience losses as a result of the same risky investments that they made with your money! You may remember the savings and loan crash in the late 80's. Risking depositors money was also the root of that collapse. I have to wonder how many times, as a society, we are going to be okay with allowing this great risk to occur in our financial markets, institutions and our money.
First, lobbyists should not be drafting legislative bills to be passed into laws. This is especially true if a politician, who we elect and pay, is never going to bother to read the thing. What about a financial lobbyist drafting a bill to amend financial legislation, am I the only one who sees this as a problem?
Finally, why would anyone on earth want to allow a financial institution to risk our money, none of their own mind you, to make risky investments for only their benefit? Granted all investments have risk, but unnecessary risks like these are simple unnecessary. When the dust settles, no problem, if you screwed it all up you can use more of our money to replace it (via the FDIC)! I honestly want to bang my head against the wall sometimes when I read this stuff. Seriously people, how long are we going to allow this sort of thing to go on?
I sincerely hope not long, for the sake of my young daughter, my fellow citizens and my friends. Promise me you will do one thing during the Holiday Season; follow KeneXsus, like KeneXsus or do whatever it is you like to do with social media. But please, use our site to learn about these things, rules and products. These are the things we are trying to change through accountability and transparency. We cannot attain this goal if we all do not take a stand and work in concert to STOP – BAD - BEHAVIOR!
Together we can make a difference and protect our financial future and the future of the next generations. We hope you all have a great Holiday Season and enjoy the new site coming on line shortly!
Another area I thrive in is the area of examination. I enjoy breaking down, for instance, a complex process or theory into its discrete parts and then showing others how these parts work. This also made sense in the development of our Interactive Video Lessons or IVL’s. In that spirit, I want to tell you all about a lovely rule called the “Push Out” rule.
So, what does this mean? Simply put, it is a bank or financial institutions ability to take depositors money (your deposit's into checking and savings) and then push it out into the market, or use it, to make risky investments like credit derivatives as an example. These are the lovely little products that many correlate as being the catalyst for the housing and financial collapse in 2008 and 2009. Of which, we are still recovering. I happen to agree 100%!
Recently, a lobbyist firm drafted a bill (yes you heard me correctly, a lobbyist drafted the bill) to once again allow this practice. This would of course be undermining the newest legislation called the Dodd-Frank Bill, which had banned this practice. The amazing part of all of this is that the politician who ended up sponsoring the bill never changed a word (actually just a few for pluralism coverage) and moved in to a vote and subsequent passage into law.
We are by no means saying that all banks, lobbyists or politicians are bad. But, these types of behaviors certainly pose an ethical dilemma and place the public's trust and our money at great peril. Another point to be made is that banks and financial institutions are only playing by the rules that they are given. What we are saying is that we should be more cautious about the rules we draft and vote into law so as to ensure they are prudent and work to ensure public trust. By providing our members this knowledge, we hope to bring fourth more accountability and more effective laws and regulations to protect your money.
So, financial organizations and institutions can once again use YOUR money to make risky investments (derivatives). They can then access public funds (Like FDIC Insurance) when those investments go bad or experience losses as a result of the same risky investments that they made with your money! You may remember the savings and loan crash in the late 80's. Risking depositors money was also the root of that collapse. I have to wonder how many times, as a society, we are going to be okay with allowing this great risk to occur in our financial markets, institutions and our money.
First, lobbyists should not be drafting legislative bills to be passed into laws. This is especially true if a politician, who we elect and pay, is never going to bother to read the thing. What about a financial lobbyist drafting a bill to amend financial legislation, am I the only one who sees this as a problem?
Finally, why would anyone on earth want to allow a financial institution to risk our money, none of their own mind you, to make risky investments for only their benefit? Granted all investments have risk, but unnecessary risks like these are simple unnecessary. When the dust settles, no problem, if you screwed it all up you can use more of our money to replace it (via the FDIC)! I honestly want to bang my head against the wall sometimes when I read this stuff. Seriously people, how long are we going to allow this sort of thing to go on?
I sincerely hope not long, for the sake of my young daughter, my fellow citizens and my friends. Promise me you will do one thing during the Holiday Season; follow KeneXsus, like KeneXsus or do whatever it is you like to do with social media. But please, use our site to learn about these things, rules and products. These are the things we are trying to change through accountability and transparency. We cannot attain this goal if we all do not take a stand and work in concert to STOP – BAD - BEHAVIOR!
Together we can make a difference and protect our financial future and the future of the next generations. We hope you all have a great Holiday Season and enjoy the new site coming on line shortly!
Cheers,
The KeneXsus
Team…
