A Perfect Storm Of Bad Writing
Adam Smith reportedly said, “When you get inflation, unemployment and depression you get a perfect storm in economics.” I made that quote up to show how a bad writer often begins their story. When I speak of bad writers I’m not talking about poor grammar and split infinitives. A bad writer is someone that says nothing original or doesn’t clearly communicate with the intended reader. Here are four areas of bad writing and what should be done.

Quotes Many writers open with quotes that are not even related to what they are writing about as in “Yogi Berra said ‘a nickel isn’t worth a dime anymore’ and so it is with monopolies...,’’ but even if the quote fits the topic the writer is telling the reader that they have nothing new to contribute so why bother reading any further. Is there ever a place for quotes? Yes, if you need to support a fact or need an ally for your position. As an example, if you are writing an article against monopolies it might be good to show that experts hold the same opinion by writing “as Adam Smith said ‘monopoly is a great enemy to good management’’. But please don’t open with the quote. First, show why readers should listen to you.

Clichés
It was a better book than movie, but I wish Sebastian Junger had picked a different title. Every blow-dried TV anchor or third-rate columnist uses “a perfect storm” whenever they can tie three things together in a feature, but “a perfect storm” is a cliché that adds nothing meaningful. Some clichés never go away – it ain’t over til it’s over, some eventually fade away – people again are saying model instead of paradigm, and some are cresting – but since tweeting is for birds and not people it will soon be forgotten. The problem is using a cliché also shows that the writer has nothing original to say.

Industry-Speak (or not writing to the reader)
It is fine to use the phrase ‘acute myocardialinfarction’ if the readers are doctors, but if the article is in Reader’s Digest call it a heart attack. A frequent problem is where the writer uses industry jargon as shorthand, but the reader isn’t in the industry. A writer needs to write to communicate with the intended audience.  If the writer is not sure of the audience then the writing needs to be at a level that anyone will understand – no industry-speak jargon. The writer should attempt to find out who will read their article and write to that reader. What this means is an article written for Best’s Review should read differently than one written for Reader’s Digest and that one will differ from the Fortune article.  

When You Run Out Of Things To Say, Quit
You’re asked to write an 800 word article, but after 490 words you have thoroughly covered the points you wanted to cover. Stop writing.  

 Index annuities with surrender periods of ten years or longer were 61% of 1999 sales versus 21% in summer 1998.

 The average agent commission was 9.9%. One in six sales were in products with commissions over 13%.

 American Equity introduced the 1st annuity linked to the movements of the Dow Jones Industrial Average.

 The typical APP w/cap had a rate of 60% with a 10% cap.   The typical averaged annual reset had a 70% rate, no cap.

 The S&P 500 was at 1372.71 and the average rate on a 1 year CD was 5.6%.

U.S. House Bill H.R.2733
To clarify the exemption for certain annuity contracts and insurance policies from Federal regulation under the Securities Act of 1933 introduced by Meeks on 4 June. 

 2(a)(3) Adoption of Rule 151A...harms the insurance industry, reduces competition, restricts consumer choice, creates...excessive regulatory burdens, and diverts Commission resources, all of which outweighs any perceived benefits.  

4. Rule 151A promulgated by the Securities and Exchange Commission and entitled ‘Indexed Annuities and Certain Other Insurance Contracts’, 74 Fed. Reg. 3138 (January 16, 2009), shall have no force or effect. 

Referred to the House Committee on Financial Services 

52 Dead Banks So Far
As of 2 July fifty two banks had been taken over by FDIC; more banks than failed from 2001 thru 2008 combined. The complete list is here