Finance to be part of school curriculum - Fiji Live
Fiji government will integrate financial education into the school curriculum from class one to form six over the next two years.
Speaking at the Fiji Institute of Accountants Congress in Nadi yesterday, Fiji’s Ministry of Finance permanent secretary Filimoni Waqabaca said this is one the important financial sector development.
The intergartion is under the Fiji Financial Education Curriculum program (FinEd) was launched last year.
Waqabaca said according to the Pacific Financial Inclusion Program, close to 197,000 students will have exposure to financial education every year from 2013 when the program is fully implemented.
Meanwhile, he said one of the main agenda of government is the need for consumer protection and financial capability.
“Consumer protection and financial capacity are components of responsible financial inclusion. As access to financial services improves, it is important that consumers are able to make well informed decisions on how they manage their money and the financial services they use.”
Hence, he said consumer protection laws and enforcement are important.
“Where consumers are not well protected and are not able to make informed decisions on financial services and products offered, the impact of financial inclusion can be reduced or even negative.”
Waqabaca added consumer empowerment and protection is the responsibility of all stakeholders; the government, consumer advocates, the regulators, the public and the private sector.
“We all have to work together to empower consumers, with real choices, accurate information, market transparency, effective protection and enhance consumers’ welfare in terms of prices, choices, quality, affordability and safety.”
By Ropate Valemei
TIME TO SHUT OFF THE FAT CAT'S MONEY MACHINE - American Reporter
TIME TO SHUT OFF THE FAT CAT'S MONEY MACHINE
by Randolph T. Holhut
American Reporter Correspondent
Dummerston, Vt.
February 7, 2009
Printable version of this story
DUMMERSTON, Vt. -- On Friday, Sen. Claire McCaskill, D-Mo., said what a lot of us are thinking about Wall Street fat cats and how they are taking federal bailout money while handing out bonuses and pay raises to themselves.
"They don't get it," she said. "These people are idiots. You can't use taxpayer money to pay out $18 billion in bonuses...What planet are these people on?"
McCaskill said those words on the Senate floor as she proposed legislation to cap executive pay at any company getting federal bailout money at $400,000, or the U.S. president's salary.
"Right now, they're on the hook to us," said McCaskill. "And they owe us something more than a fancy waste basket and a $15-million dollar jet. They owe us some common sense."
Granted, my senator, Bernie Sanders, was saying this sort of thing last year. But since he is a socialist from Vermont, nobody paid attention to him. But as it usually happens, it takes some time for the Democrats to catch up to Bernie.
Capping executive pay at banks and other institutions that take federal bailout money is an idea whose time has come. That's why the Obama Administration announced Wednesday a plan to impose a cap of $500,000 for top executives at companies that receive large amounts of bailout money. Under the plan, executives would also be barred from receiving any bonuses above their base pay, except for normal stock dividends.
Let's review how we got to this point. The federal Troubled Asset Relief Program (TARP), the Treasury Department has handed out $293 billion to shore up banks such as Bank of America and Citigroup and insurer American International Group. U.S. automakers General Motors and Chrysler also got TARP money. Recipients of government funds must follow rules limiting executive pay, but they haven't been enforced with any sort of vigor.
Despite a down economy, Wall Street financial firms handed out $18.4 billion in bonuses to employees - even though the government had to save the companies from collapsing. That $18.4 billion is roughly the same amount given out during the boom years in the mid-2000s. Last week, President Obama used words such as "outrageous," "shameful" and "the height of irresponsibility" to describe this largesse.
The Wall Streeters certainly didn't like what President Obama was saying. "I think President Obama painted everyone with a broad stroke," Brian McCaffrey, a Wall Street lawyer, told The New York Times last week. "The way we pay our taxes is bonuses. The only way that we'll get any of our bailout money back is from taxes on bonuses. I think bonuses should be looked at on a case by case basis, or you turn into a socialist."
Of course, the financial folks love socialism when the government gives them money. But suggest that the federal bailout money be used to stimulate lending rather than pay bonus, and you're Karl Marx incarnate.
"On Main Street, 'bonus' sounds like a gift," Larry Meyers, who works for an Italian securities firm, said to the Times. "But it's part of the compensation structure of Wall Street. Say I'm a banker and I created $30 million. I should get a part of that."
Using that line of reasoning, if your poor judgment and greed resulted in the loss of $30 million for the bank, those losses should come out of your pocket. Of course, things don't actually work that way. We've seen case after case of people who have destroyed companies, yet walked away with their pockets stuffed with money.
Given the shaky state of the U.S. banking industry, Citigroup, Bank of America and other major banks have no choice but to take federal bailout money. The government shouldn't have to offer the CEOs a bribe. That's why Obama's proposal is a good one. If you're going to take the government's money to keep your firm from going bankrupt, you should have to abide by the government's terms for executive compensation. Don't like the terms? Don't take the money.
Remember, this is our money being handed out to the fat cats. The least the Treasury Department can do is ensure that this money is being used productively.
Randolph T. Holhut, a journalist in New England for nearly 30 year, edited "The George Seldes Reader" (Barricade Books). Write him at randyholhut@yahoo.com, and read his blog about The Harvard Classics, updated daily at http://hclassics15.blogspot.com.
Copyright 2012 Joe Shea The American Reporter. All Rights Reserved.
Money saving tips: Father’s Day gift ideas - Dayton Daily News
Father’s Day is June 17, and it can be a bit of a perplexing task for me to find the perfect gifts for my dad and brothers.
When I asked Pops what he wanted for Father’s Day, he said, “Oh, nothing.” Of course, “nothing” does not work for me. It’s not in my nature to give “nothing” on this kind of day.
According to the Library of Congress, the first Mother’s Day was celebrated in 1914, but a holiday celebrating fathers did not become official until 1966, when President Lyndon Johnson declared that the third Sunday in June would be Father’s Day. President Richard Nixon made this proclamation permanent in 1972.
To continue in that spirit of national recognition for the greatness of dads, I have put together some gift-giving ideas for four styles of dads.
The epicurean
The way to a man’s heart is arguably through his stomach, so a gift of fine dining makes sense.
In last week’s Red Plum flier, I found a $4 off coupon for two dinners at Red Lobster, which is one of my father and mother’s favorite restaurants. Therefore, I will treat both of them to a relaxing dinner when I visit Colorado later this summer. (I also “liked” Red Lobster on Facebook for more news and a special offers from the restaurant chain.)
My brother, Matthew, is a fantastic chef, and I am always looking for recipes that will appeal to both him and his 3-year-old son, Orin. I went online to Amazon.com and found Ian Knauer’s “The Farm: Rustic Recipes for a Year of Incredible Food,” which has garnered accolades from some of the top chefs in the nation. A former cook in the Gourmet test kitchen, Knauer is well-known for recipes making the best of seasonal produce. His inspiration? The Pennsylvania farm that has been in his family since the 18th century.
I have no doubt the Brick Chicken with Corn and Basil Salad, for instance, will satiate the taste buds of my brother and my adorable nephew — who has quite the sophisticated palette for his young age.
Barnes and Noble, Books & Co., Target, HomeGoods, just to mention a few retailers, also have cookbooks worthy of the dad who likes to don a chef’s apron.
If your budget is limited, then definitely check out Cold Stone Creamery and its sweet deals just in time for Father’s Day. The ice-cream parlor has just introduced its Retro Classics, including a classic root beer float and hot fudge sundae. (Go online to www.Cold StoneCreamery.com for the location nearest you.)
The dapper dad
No matter what station in life a man might be at, he most likely wants to dress smartly and be well-groomed.
Therefore, I am happy to report almost every men’s apparel store is offering some kind of shopping incentive for Father’s Day. Target, Old Navy, Kmart and Gap stores, for example, have some great casual collections, and Macy’s is doling out some fab ideas for Father’s Day presents in the attire arena.
Don’t forget: Some men enjoy a little pampering, too. At Von Maur, the upscale department store, Jack Black body-care collections are being promoted.
Sporty dad
For the golfers on my shopping list, I found a really cool accessory: the Golf Towel with Germ Shield. The dual-sided design gives Dad two towels in one: the golf side is for his clubs and equipment; while the skin side is for him. The Germ Shield layer is sandwiched between two luxurious layers of 100 percent pure cotton terry to create a protective barrier between his skin and the dirt, chemicals and fertilizers used on golf courses. Visit TowelMate.com to order.
Men’s health and fitness magazines, too, make splendid gifts. For more ideas, visit discount magazine subscription sites such as www.SpeedyMags.com.
The gadget geek
I perused the Apple.com site and was thrilled to read about the sheer awesomeness of the iPad with Retina display. (OK, I admit I am a geek.) If you order an iPad or an iPad2 from the Apple site, you will receive not only free shipping but also free engraving on the tablets, which start from $499.
For the music aficionado on your Father’s Day list, check out Beats by Dr. Dre “high-definition” headphones. They aren’t cheap (from $199), but most any serious music lover or musician will no doubt be eternally grateful for this gift. I found the headphones available online at Walmart and www.Amazon.com.
Power tools, Shop-Vacs, grills, high-definition TVs, DVD collections, at such stores as Lowe’s, Best Buy, HHGregg and Sears, also would be welcome in the workshops and offices of men who tinker around. (Consider gift cards to take the guesswork out of deciding what dad might enjoy this holiday.)
Of course, if your budget is limited, your dad will understand — and appreciate — a phone call, a handmade card, a hug or any heartfelt gesture. Some things truly are priceless.
Robin McMacken is a writer, designer and National Academy of Sports Medicine and Aerobics and Fitness Association of America-certified personal trainer. Follow her on Twitter at Robin_McMacken.
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