There is a lot of talk out there right now that suggests that government intervention will impact the capital markets.

This video from a few months back addresses that topic pretty clearly:

http://www.dfaus.com/library/videos/governme/

FRAUD ALERT!
From the Office of Denver District Attorney Mitch Morrissey
Top 10 Scams and Rip-Offs of 2009 from the BBB
…to be continued in 2010

1. H1N1 Scams: Scams attempted to scare consumers into purchasing cures or providing essential information to prevent the H1N1 virus.
2. Memorabilia: 2009 provided many opportunities for scammers to sell memorabilia and collectibles at inflated prices.
3. Weight Loss Pills Free Trial Offers: Free trial offers for weight loss pills actually ended up costing unsuspecting consumers thousands of dollars.
4. Phishing E-mails: Phishing e-mails appearing to be from government agencies popped up in in-boxes. These phishing emails attempted to trick victims into divulging sensitive financial information.
5. Mystery Shopping: Consumers were told they would be paid to secretly shop in order to evaluate merchants’ customer service. In some instances, victims were asked to wire money back to scammers as a way to evaluate money wiring services such as MoneyGram and Western Union. Victims who participated were sent authentic looking checks which, when cashed left the victims “holding the bag”.
6. Lottery Scams: Victims received bogus letters or phone calls informing them that they had won millions of dollars. Unfortunately, victims were also told they had to wire hundreds or thousands of dollars back to the scammers to cover taxes or other bogus fees.
7. Friend/Family in Distress: Also known as the Grandma Scam, victims received messages from scammers claiming to be “friends” or “family members” needing immediate help. Victims were asked to wire money to pay for lawyer’s fees or to post bail.
8. Mortgage Foreclosure Rescue/Debt Assistance: Victims paid upfront fees to avoid home foreclosures or to get help with credit card debt – with no results.
9. Job Hunter Scams: Job seekers paid bogus upfront fees as part of an application process. Job applicants were also asked to provide personal financial information or social security numbers under the guise of evaluating their applications.
10. Robocalls: Thousands of people received automated telephone calls related to auto warranties and lower credit card interest rates.

Questions or assistance related to fraud: Denver DA’s Fraud Line: 720-913-9179
Follow us on Twitter @DenverScamAlert
December 2009

From The Denver District Attorney’s Office:

The U.S. Justice Department announced charges in what it said is its biggest ID Theft case ever. Hackers stole credit and debit card information from more than 130 million accounts.  In most cases, the hackers either used personal credit card numbers to make fraudulent purchases or they used debit card numbers to drain individuals’ bank accounts.

The good news is that in Colorado, and 44 other states, the law requires that customers be notified when their identity has been compromised. In addition, almost every bank and credit card company takes responsibility when there are fraudulent charges on an account. If something goes wrong, consumers are protected by the Federal Fair Credit Billing Act.  While it is virtually impossible for an individual to prevent this type of massive data breech, steps to minimize risk and mitigate losses are easy to take:

Monitor your credit card and bank accounts closely – reporting any charges or activity that you do not recognize.Request a free copy of your credit report once a year from each of the three major credit reporting agencies at www.annualcreditreport.com or 1-877-322-8228.Shop only on secure internet sites.  For more information go to http://www.idtheftcenter.org.Don’t give any part of your Social Security, credit card or bank account numbers over the phone or Internet, unless you have made the contact to a company or financial institution with which you are familiar.

This video will add some clarity on why Fee Only advisors are so passionate about serving their clients as fiduciaries. 

This is from Dimensional Fund Advisors – on the Fama French Forum.  A video with Professor Fama outlining the benefits and limitations of efficient markets.  I recommend watching this video.