We are all for simple explanations to complex financial problems. Given this, what prerequisite for a major regulatory position in finance could be more gratifying than the ability to explain complex monetary policy issues to children? And given this, who could be more qualified than Sheila C. Bair, Chairman of the Federal Depository Insurance Corporation, and, more importantly, author of Five Star Amazon Review award winner “Rock, Brock and the Savings Shock?” (For ages: 8-12. Hurry! Supplies are limited and Amazon only has 2 left in stock!)
Try as I might, I couldn’t possibly do the work more justice than this Amazon review:
Rock is a spender and Brock is a saver. Their grandfather hires them to do chores and then encourages them to save by matching the total amount of money that they have accumulated from their pay each week. Brock manages to amass $512 in 10 weeks, while Rock spends his money as soon as he earns it, purchasing a fanciful array of toys, gum, and yard-sale items, all of which are comically depicted in the bright cartoon illustrations. Ultimately, Brock uses his proceeds to buy a fancy telescope and some gifts for family members, generously putting his remaining $50 dollars into a joint savings account that he shares with his brother. Evidently Rock learned his lesson as the tale ends with the twins in their old age as millionaires. A section entitled Do the Math contains charts showing the cash accumulation and what would have happened if Brock had spent some money during the 10 weeks. An explanation of compound interest and advice about saving are included. While the rhyming text has some awkward passages, this picture book is a good way to examine the issue of saving vs. spending.
We would be remiss if we failed to mention that this masterpiece ranks #6 in the Amazon “Twins” category behind #2: “How to teach filthy rich girls” (I own three copies) and #3 “The Ironwood Tree.”
I am looking forward to the chapter on dealing with an abrupt 2150% increase in claim liabilities by depository insurance companies.
Solid review.
I was watching CNN at the gym the other day and, no joke, they had this school house rocks type interlude explaining the bailout using dumfounded cartoony bankers- i almost fell down laughing.
That said, I think the American people would benefit from seeing all of their news in cartoon, maybe they’d sit the fuck up and pay attention.
Girl,
You’re much too optimistic. We need those special fireworks shooting into the sky, spelling “ASSET PRICING!” in red, white, and blue. Maybe even a special version of Buck Hunter, where you’re trying to shoot a glacier packed with cash in order to feed penguins and other arctic marine life.
The FDIC is one of the few US government arms that actually knows what its doing.
Where do you get 250%? 100K to 250K is (250-100)/100*100%=150% dumbass.
“Where do you get 250%? 100K to 250K is (250-100)/100*100%=150% dumbass.”
You’re right, of course.