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A Modest Proposal: Limited Purpose Banking

By Scott Burns and Laurence J. Kotlikoff

In case you hadn’t noticed, the foxes are still guarding the banking henhouse. The only change: President Obama is reducing how many hens the foxes can kill while on guard duty.

The foxes, of course, are the financial wizards whose leadership almost entirely wiped out the capital of the banking system.

The old system relied on trusting people who lied and cheated. They are still running the show. They will lie and cheat again. We will be called upon to pay the bill, again.

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Robert Glovsky, Director, Boston University's Program on Financial Planning and President, Mintz-Levin Financial Advisors

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Disclaimer: ESPlannerBASIC, ESPlanner, ESPlannerPLUS and ESPlannerPRO, are educational calculators designed to give users input in mapping out financial futures, but should not be acted upon as a complete financial plan. The creators of these programs are not certified, registered, authorized, or any other type of financial planners. These programs are simply tools for helping you think through economic futures. Its "recommendations" should be viewed as informative inputs into your own decision-making with respect to saving and the purchase of life insurance. ESPlannerBASIC, ESPlanner, ESPlannerPLUS and ESPlannerPRO provide neither economic, financial nor tax advice, which can only be delivered to you by authorized professionals.

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Asset Builder

A Modest Proposal: Limited Purpose Banking

Raise Your Living Standard: Reapply for Social Security

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Value of Everything, the Price of Nothing

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