We all know that man comes in the world alone and goes from the world alone. He is only remembered by his acts. Some do good for others while some spend their lives running after money.
One cannot deny the fact that Money is power. Money is though erratic, when in low positions, respect acts an important support. By the same token, money can’t buy respect but respect can help earn money. Besides, you can have all the money you want, but that doesn’t necessarily translate into power or respect. Money can buy power at times, but respect is hard to demand.
Ziad K Abdelnour, Wall Street financier, trader and author is President & CEO of Blackhawk Partners, Inc., a “private family office” that backs accomplished operating executives in growing their businesses both organically and through acquisitions and trades physical commodities – mostly oil derivatives – throughout the world.
Ziad K Abdelnour is also Founder & President of the United States Committee for a Free Lebanon (USCFL) – America’s premier pro-Lebanon lobby and Founder & Chairman of the Financial Policy Council – a public policy-oriented organization with an objective of educating and informing the public about economic and fiscal matters. Moreover, Ziad K Abdelnour is a Member of the Board of Governors of the Middle East Forum and the Former President of the Arab Bankers Association of North America.
1. The so-called Volcker Rule has yet to see the light of day.
2. The banks’ balance sheets are better than they were five years ago. The banks have raised lots of capital and written off many bad loans. (Their risk-weighted capital ratio is now about 60 percent higher than before the crisis.) …. But they’re back to too many of their old habits.
3. Millions of Americans are still suffering the consequences of the Street’s excesses. Yet the Street’s top guns and fat cats are still treating the economy as their own private casino, and raking in even more than before.
The fact is, the giant Wall Street banks are ungovernable – too big to fail, too big to jail, too big to curtail. They should be split up, and their size capped. There’s no need to wait for Congress to do it; the nation’s antitrust laws are adequate to the job. There is ample precedent. In 1911 we split up Standard Oil. In 1982 we split up Ma Bell. The Federal Reserve has authority to do it on its own in any event. (Would Larry Summers take such an initiative? Highly doubt it….besides the guy is always asleep)
Legislation is needed to resurrect the Glass-Steagall Act that once separated commercial banking from casino capitalism….. But don’t hold your breath.
I strongly believe that China will continue to grow over the next few decades. It will increase not only its economic power but also its geopolitical power in the world. It will be not only a large consumer market but a strong breeding ground for innovations as well.
Twenty years from now, for a lot of global companies, China will be at the center of their strategies.
Besides, the Chinese have always been known as good entrepreneurs, and particularly good small-business people. This has been in the blood of the Chinese for maybe as long as the Phoenicians (Lebanese) have been trading. So you’ve got entrepreneurial people at the grassroots level who are very independent minded. They’re very quick on their feet. They’re prone to fearless experimentation: imitating other companies here and there, trying new ideas, and then, if they fail, rapidly adapting, correcting, and moving on.
In 1997, Abdelnour founded the U.S. Committee for a Free Lebanon (USCFL), which had as one of its initial aims ending the Syrian occupation of Lebanon. As part of his work with USCFL, Abdelnour recruited a number of high profile neoconservatives figures, including Michael Ledeen, Elliott Abrams, Douglas Feith, and Frank Gaffney, all of whom were listed as supporters of USCFL. By 2006, Abdelnour had begun to describe himself as a neoconservative, according to the New York Times.
After the election of President Barack Obama, USCFL appeared to distance itself from its association with neoconservatism. A statement posted on the group’s “About” page said, “Bad rumors say that the USCFL is the front of some ‘shady’ force plotting with some organizations out there against Lebanon’s interests. Just to set the record straight, we are NOT a front of any foreign entity; whether Syrian, Israeli or whatever and we are fully funded by our members, supporters and other constituents….
I am flabbergasted by how many seemingly smart people are inept at handling newly acquired wealth or how some can create a fortune exceeding $1 billion in a few years and then blow it all up faster than they acquired it.
This goes for professional athletes, entrepreneurs, actors, rock stars and lottery winners. Even those kids of baby boomers who find themselves with a minor inheritance can find lessons to learn in here.
The key is recognizing that your new found wealth is not an ongoing revenue stream, but more typically reflects a onetime windfall.
Why is that? Because you never know what the future holds no matter how much you plan… and because most importantly it’s real hard to replicate being in the right place at the right time.