My name is Jenny Chen. Former banker, now executive assistant living and working in Toronto.
The month of September usually means back to school, it didn't matter if we have kids or not. Maybe its the cool weather, needing a cardigan to keep warm in the last days of summer - not really sure what it is but I feel a bit melancholy every year about now.
On top of it, this year, I can’t help but notice the changes that have affected us. It’s not difficult to find people who have had their ability to earn a living taken away. When the economy is still recovering, you can be sure there will be more job losses. And, when the mechanism of survival in us is threatened we feel vulnerable.
So, I think it's only fitting that I start my first blog with Mr. Madoff, a name has become synonymous with greed and fraud on Wall Street.
So much has been written about him you think another big scandal would easily kicked him off of our radar, like the un-timely death of Michael Jackson but no, even after he was incarcerated the media still went after him, his wife and now comes - the mistress. His web of deceit has touched more people in more countries. What begins as an investment fraud by one person one company has escalated into even more sinister act by many – a well organized “organized crime”, if it weren't so carefully "organized" then we would have called it a "messy" crime. What's even more appalling was the only other person charged so far in this astronomical in scale "bonzi scheme" was his outside accountant, David Friehling. As it turned out, there were plenty more people doing exactly what Mr. Madoff did, just in a smaller scale but the losess were still in the millions. After Mr. Madoff's news broke more and more industry insiders and investors started to ask questions and realized there were many more mini-Madoffs - defrauding investor for their own personal gains. Due diligence for many blue-chip investment firms were never excersied, come to think of it - neither did the investors. Mr Madoff is the biggest fraudster but there were many just like him. Since last December, countless more fraudsters came out of the woodwork. As Warren Buffett would say "..you only find out who's been swimming naked when the tide goes out". The domino affect has reached across U.S. and to other major financial markets around the world. The cost of human "employment" casualties are still being felt today.
On my blog for September will cover some of what I just mentioned by Bryan Borzykowski, senior editor at Canadian Business Online. His blog, Political Points, deals with relationship between politics, business and the economy; The Big Picture is written by Matt Kelly, editor-in-chief of Compliance Week. Kelly’s blog is about the broader context of regulatory developments, legislative actions in Washington, and other events in the area of compliance and corporate governance; Marshall Auerback is a market analyst and commentator with 27 years of experience in investment management business, global portfolio strategist for RAB Capital Plc, a UK-based fund management group, consultant at PIMCO, the largest bond fund management group; Forbes named her number 12 the first ever list of the 2009 Most Influential Women in Media, Arianna Huffington of Huffington Post.
Page Turner – A Must Read is a list of books I believe you will enjoy reading. An Oxford and Harvard educated economist, Dambisa Moya's book Dead Aid (opposite of Live Aid) has generated a lot of buzz when she launched her book in early January. Dambisa and UN special envoy for HIV-AIDS, Stephen Lewis were invited to Munk debate on Foreign Aid at the ROM, watch their passionate and insightful debate. I have selected a few of my “favorite” websites where articles and blogs were thought provoking and have help formed and shaped my views over the years. A Good Country for Crooks by John Gray of Canadian Business has covered wide variety of subjects including corporate governance is worth taking a look.
Silobreaker, Fareed Zakaria and Going Concern are news feeds that gives a diverse point of view on latest news on business and politics. Going Concern is an online tabloid covering the world of accounting and business finance. The site provides original news and insider analysis of the culture, people, and firms that shape the industry.
On a lighter note, my all time favorite comedian George Carlin is profiled. His classic live performance is brought to you via YouTube – is funny, guaranteed to make you laugh out loud. Maria Pinto, another fabulous designer thanks to Michelle Obama, who knew her fist-bumped with her husband on stage at a Democratic rally wearing Maria’s Purple Dress would ultimately made her a household name overnight.
Once in awhile, we need to pamper ourselves with our loved ones. Two restaurants that comes to mind are Monteverde and Smith & Wollensky both are located in New York. Smith & Wollensky makes the best stake, no need to say anymore. Monteverde is a hidden treasure located in Cortlandt Manor approximately one hour drive north of downtown Manhattan.
I know traveling may not be on everyone’s mind now but if you are planning to travel outside of U.S. or Canada, then you should consider one of the most beautiful countries in the world - Ireland. Check out Ashford Castle's new re-designed website, the images of the castle are breathtaking. Ashford Castle was built in 1228 the oldest castle in Ireland. It was restored and expanded in 1970.
My blog is to provide relevant news that are informative, interesting and to invigorate your mind. It is my hope to make your experience visiting my blog an enjoyable one. To share and for you to take away information you didn’t already have before visiting Brief and Straightforward. I welcome comments and feedbacks, an opportunity to engage with you. I believe good blog thrive on it and it makes blogging better and intersting. Oh! and have fun.
If I've done that, then I know I have achieved my goal. Cheers!
Brief and Straightforward
Jenny Chen
Ps, visit my daily tweet at http://twitter.com/ItsJennyChen