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On the Money
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The program called “On the Money” is a popular initiative that is led by Becky Quick. The following topics were discussed on 26 July 2015 in this show.
The first topic was the economic condition after the worldwide collapse of the year 2008 as the summer 2015 marks its fifth anniversary. The government has introduced a special Financial Protection Act, which is a preventative measure of a similar collapse. In the cover story, it was told that the Dot Frank Act signed by the president Obama is a security platform for the country’s economy. The major provisions concern the possibility of the government breaking any bank and the banks’ prohibition to sponsor hedge funds for their own profit. Bank assets have grown by 30% five years after the crisis. The initiator of the mentioned bill has reported that Americans live better now. Thus, the bigger banks become grow, but it is not a big issue as the large institutions would be ‘taken over and dissolved’. The interview also included the opinion regarding Donald Trump and his presidential campaign that initiated a negative opinion.
The second topic was related to the ‘mega merge’ in the healhcare area as Anthem Inc. has plans to acquire many small companies with the price of the deal being around $50 billion. Thus, the market has started to decline, especially regarding the home sale and buy. The news was related to the release of the new book that has been also mentioned.
The next news has been about the ruling of the Supreme Court concerning the Obama’s alterations in the healthcare system. Becky Quick has invited Jonathan Bush, who is in charge of the electronic billing records system that has been covering more than 65,000 doctors. He has mentioned that the Affordable Care Act can be hindered by the government’s ineffectiveness since it might generate many laws that contradict one another. Thereafter, the insurance companies are in oblivion and not that useful anymore, while new players on the national level are to come. The good thing is about technological takeover as the programs that connect the doctor and the patient are to be in place. Doctors are to be connected to one another; the payment should depend on results; healthcare service should be connected to innovations. This is a slow change as real IT are still not there and there is still an issue regarding privacy and personal information safety. Thus, the commmercial sector would be accountable for security breaches. Nevertheless, in five years, the medical routine tasks would be done automatically in the system.
The last topic that has been mentioned was the big numbers of Americans who experience high levels of stress regarding the financial management. The interviewed person was a senior personal finance correspondent, who is as a ‘financial therapist’. He told that money affects our personalities and intimate aspects,; that is why it should be treated as a complex issue. It requires financial planning and therapy. Personal therapist can help, but it might be out of reach as such expenditures are not covered by insurance. Even though it is normal that people make mistakes and there is nothing bad with that, some individuals require financial help, and the basic advice is to get advices from many professionals. It is more about the need to have support on the emotional level rather that financial one. The last part was concerned the announcing of the future stories about the ‘string’ business. The story was about Jim and his family that have become successful in the family business and set the foundations for a global company (Quick, 2015).