Tuesday, Dec. 7
The Ten Stupidest Financial Moments Of The Year
Here is Sheryl's list:
10: Not buying Apple in January, 2010. Then it was at 190, it closed at 320 on 12/6.
9. Congress halting unemployment benefits right before Christmas, could affect, an estimated 1.6 million people.
8. Not getting in on the gold rush. The price of gold on January 1 was $1100/oz and analysts predicted it would go to $1200 by year’s end. It was at $1417/oz in early December.
7. Greece having to be bailed out, at a cost of an estimated 45 billion Euros.
6. And Ireland, to the tune of an additional 85 billion.
5. The story of LocatePLUS: Two former executives of a Beverly technology company were indicted on 12/5 in on securities fraud and other charges. Prosecutors allege the former chief executive of LocatePLUS Holdings Corp., Jon Latorella, and its former CFO, James Fields, falsified documents to inflate the company's revenue and create a bogus $1 million pending windfall. The company provides online access to real estate and other public records for investigative searches. As part of their deception, authorities said, Latorella and Fields stole the identity of a young man who drowned in Marblehead Harbor 25 years ago to create a fictional executive whom they used in the scheme.
4. FEC vs. Citizens United, which opened the door to piles of toxic, anonymous money pouring into our elections.
3. The Flash Crash of May 6, when the Dow dropped almost 1000 points in one day, due to algorithms and electronic trading gone wild.
2. Bad paperwork from the banks that led to all foreclosures being halted in October, 2010.
1. BP Oil Spill. The cost was an estimated $45 billion dollars! You could almost bailout a small European country for that kind of money.