First Reports - 11/26

Happy Thanksgiving, Y'All! Goldman's FDIC-Backed Offering A Roaring Success - - -  Originally set to raise $2bn in FDIC-backed bonds, ... and Accurate Credit Transactions Act of 2003 - - -  In accordance with the Red Flags Rule of the FACT Act, which is under the jurisdiction of the Federal Trade Commission (FTC), FINRA member firms [more...]

Date: 2008-11-26 19:56:08

Blog posts (220) | Videos (42)
 

Gov’t and Economic Interests as Bedfellows

Recently there have been a number of observers from all corners of the political spectrum increasingly worried about the growing collusion between Washington, DC and the powerful economic interests in our country. The discourse on this issue reminds me of the “governmental support” German economist Wilhelm Röpke spoke of in A Humane Economy : “The market and power do not go well together, and anyone who wished to use his strong position vis-à-vis some buyer or seller to establish a dominating [more...]

Date: 2009-10-01 16:44:41

Is the 6-month Stock Market Rally About to End?.

by Bob Chapman Global Research October 1, 2009 The G-20 Pittsburg Summit ended last Friday. Their official statements made for some novel and interesting reading. We were informed that the group could by working together could manage a transition to a more balanced pattern of global growth. Tending to domestic demand as private savings increase. It is obvious to us this cannot work. We are seeing increased savings and decreased consumption. The IMF as well agrees with these policies. [more...]

Date: 2009-10-01 17:54:55

Bing ads to warn of online scams

Microsoft on Tuesday began serving up scam warnings with Bing search results for topics such as fixing credit scores or rescue from home foreclosure that are prime material for online cons.Microsoft worked with the US Federal Trade Commission (FTC), Postal Inspection Service, and Western Union to provide public service announcements (PSAs) in the form of advertising posted on relevant Bing results pages.“We believe this program can help fight back against scams by reminding consumers to exercise [more...]

Date: 2009-10-01 05:21:31

Understanding How An Escrow Account Works and If You Should Avoid Them

An escrow account is established by a broker, under the provisions of law, to hold funds on behalf of two or more people until a contract or transaction has been completed.  People are most familiar with escrow accounts in conjunction with their mortgage.  A person’s mortgage lender sets up an escrow account to receive monthly payments from the home buyer which is usually lumped into the mortgage payment and used to pay for obligations such as homeowners’ insurance, property taxes, and assessments. [more...]

Date: 2009-10-01 12:00:44

Most People Think a Rising Housing Market Makes Them Richer

The Daily Reckoning Houses bounce too… Not much happened yesterday. The Dow fell 47 points. The newspapers attributed the reversal to surprisingly low consumer confidence numbers. Apparently, consumers aren’t so sure this crisis is over. As we reported yesterday, they’re saving money…maybe even at an 8% rate. Oil didn’t move yesterday. Neither did gold. The Wall Street Journal reported that markets were reacting to “mixed data.” That is to say, some reports were encouraging. [more...]

Date: 2009-10-01 02:38:40

Could Goldman Sachs Share GM’s Fate?

Investment banks have gotten fat off the land since 1982, when the great U.S. bull market got its start. Their business has multiplied many-fold, and their earnings have soared into the stratosphere, to a level far higher than any other sector. Now, JPMorgan Chase & Co.  (NYSE: JPM ) has issued a report suggesting that investment-banking returns on capital will be sharply down over the next few years. Perhaps this will be only a moderate downturn. [more...]

Date: 2009-10-01 18:38:32

Could Goldman Sachs Share GM’s Fate?

Investment banks have gotten fat off the land since 1982, when the great U.S. bull market got its start. Their business has multiplied many-fold, and their earnings have soared into the stratosphere, to a level far higher than any other sector. Now, JPMorgan Chase & Co.  (NYSE: JPM ) has issued a report suggesting that investment-banking returns on capital will be sharply down over the next few years. Perhaps this will be only a moderate downturn. [more...]

Date: 2009-10-01 18:38:32

Most People Think a Rising Housing Market Makes Them Richer

Houses bounce too... Not much happened yesterday. The Dow fell 47 points. The newspapers attributed the reversal to surprisingly low consumer confidence numbers. Apparently, consumers aren't so sure this crisis is over. As we reported yesterday, they're saving money...maybe even at an 8% rate. Oil didn't move yesterday. Neither did gold. The Wall Street Journal reported that markets were reacting to "mixed data." That is to say, some reports were encouraging. Others were not. [more...]

Date: 2009-10-01 01:00:48

Jobless Claims Up More Than Expected!

From the perpetually surprised Associated Press : New jobless claims rise more than expected to 551K WASHINGTON – First-time claims for jobless benefits increased more than expected last week , a sign employers are reluctant to hire and the job market remains weak. And while consumer spending jumped by the most in nearly eight years in August due partly to the government’s Cash for Clunkers program , economists worry whether that rebound can be sustained with U.S. [more...]

Date: 2009-10-01 11:23:48

Puru Saxena: Inflation is our future

This post is a guest contribution by Puru Saxena*, founder of Hong Kong-based Puru Saxena Wealth Management . On one hand, the deflationists are claiming that given the extremely high debt levels in the West, further inflation is impossible. On the other side of the argument, many proponents of inflation are calling for Zimbabwe style hyperinflation. In this business, everyone is entitled to their opinion; however it is my contention that we will get neither deflation nor hyperinflation. [more...]

Date: 2009-10-01 09:54:45

Germany - The Bitter-Sweet Tears Of Angela von Merkel

German voters gave Chancellor Angela Merkel the green light for a second term on Sunday, along with a clear mandate to form a new government with the liberal Free Democrat Party (FDP). But just what exactly is the new government likely to do? Merlek has been quick to pour cold water on any idea of early tax cuts, “I expect we’ll agree very quickly on tax policy, especially when you look at the leeway we have with the budget,” she is quoted as saying. [more...]

Date: 2009-09-30 22:01:26

Credit Services

October 1, 2009 | By Sara Bernard In Finance | by Sara BernardThe recent economic downturn and financial crises have left many people with destroyed credit. Some credit repair companies are making outrageous claims that they can instantly repair credit. You need understand what these credit repair companies intend!If you want to start a credit repair process, the first thing you should do is find your credit report. It is widely available online due to a new law. [more...]

Date: 2009-10-01 21:25:56

Does The Abortion Compromise Preserve The Status Quo?

Rep. Lois Capps (D-CA) As Republicans prepare to introduce a series of amendments rationing abortion services out of health care reform , Jessica Arons — Director of the Women’s Health and Rights Program at the Center for American Progress Action Fund — has compiled this very useful comparison of how the proposed reform bills would change current abortion restrictions. (I’ve summarized her report in the table below). Democrats have argued that health care reform would preserve the status quo. [more...]

Date: 2009-10-01 19:45:06

PERSS ENCOUNTER WITH PM HIGHLIGHTS, DIRE NEED FOR NEW VISION FOR ETHIOPIA - By Genet Mersha

In the wake of his ‘involuntary anointment’ as chief executive of the state and the ruling party, Prime Minister Meles Zenawi has once again shifted to a high gear with a new five-year term securely under his belt. Although his decision was not unexpected, the 360 degrees shift of from the spring, winter, summer and beyond of his oft-expressed decision to quit his job as prime minister has not gone unnoticed. Owing to that, the prime minister has encumbered himself with expectations. [more...]

Date: 2009-10-01 14:45:04

Corporatism is King

by cjmac53@aol.com I wanted to follow up my post from yesterday on the FDIC with a couple of related links that I think are relevant as far as the big picture on the economy is concerned.  Alex’s comment on that post led me to do a quick search of the banks that had closed when the S&L crisis finally came to a head.  The link is to an article from the New York Times that was written in 1988, and I about fell off my chair reading some of the things that ocurred and the analysis of the [more...]

Date: 2009-10-01 09:21:00

Foundation Sued by Jackson Estate

Press Release Service – Wired PR News – A foundation operating under the same name as a well known song of the late entertainer Michael Jackson is being sued by his estate. As reported by the Associated Press (AP), the estate has filed a lawsuit in federal court against the Heal the World Foundation for trademark infringement, claiming the organization is improperly using Jackson’s likeness to obtain donations.Jackson’s estate administrators are quoted by the AP as asserting in the lawsuit that [more...]

Date: 2009-10-01 15:53:00

Is Obama Fulfilling ACORN’s Agenda?

Here is a copy of ACORN’s so-called People’s Platform , via the Internet Archive’s Wayback Machine, which we first posted back on October 16, 2008 . As is noted below, this platform was updated in 1990 in Chicago, which was just two years before Mr. Obama began to work for the organization via Project Vote and as a trainer for their "power" seminars. Note how many of ACORN’s demands are being accomplished by Mr. Obama since he has assumed office. [more...]

Date: 2009-10-01 04:00:00

Posts about Obama Health Care Failure as of October 1, 2009

Conference call: Tim Pawlenty and the Freedom First PAC - hotair.com 10/01/2009 We had an opportunity to talk with Minnesota Governor Tim Pawlenty to discuss the launch of his Freedom First PAC.  Pawlenty says that he’s worried that freedom is being corroded by a “tyranny of a creeping bureaucracy.”  Pawlenty wants to re-elevate the principles of freedom and liberty, including an effort to educate people on their value and to impact current policy.  Pawlenty plans a particular effort to [more...]

Date: 2009-10-01 12:59:05

Mark Turner Russell Edgar: Turners Bar Complaint Response Back to Edgars Comments

There has been a lot of conversation here at Maggie's Notebook about Mark Turner, a man living in the Pensacola, Florida area. At the bottom of this post, you will find links to the background of Mark Turner's case. Today, I want to focus on complaints Mr. Turner made to the Florida Bar. When a citizen feels they have been unjustly treated by the justice system, they can file a "Bar Complaint" with the State's Bar - the organization that generally registers and tracks lawyers in the area. [more...]

Date: 2009-09-30 22:16:00

Recent Tweets from the BARN

CLICK HEREto hear parts of these stories inside theBARN’s Morning Ag News with NAFB Broadcaster Brian AllmerNational Ag News for October 1, 2009Sponsored by the American Farm Bureau Federation“September Pork Loses Climb”U.S. hog producers lost around 46-dollars per hog during September. According to experts at Iowa State University, that’s the largest per animal loss in the string of monthly losses that have now gone on for two years. [more...]

Date: 2009-10-01 11:45:02

Text of Kerry-Boxer Clean Energy Jobs and American Power Act, The Senate's Cap-and-Trade Climate Legislation

A SUMMARY OF THE CLEAN ENERGY JOBS AND AMERICAN POWER ACT AS INTRODUCED September 30, 2009 SECTION 1 . SHORT TITLE ; TABLE OF CONTENTS . This Act may be cited as the “Clean Energy Jobs and American Power Act”. Sections 2. Findings. Describes the impacts of climate change and the benefits of transitioning to a clean energy economy. Section 3. Economywide Emission Reduction Goals. Establishes targets for reducing global warming pollution. Section 4. Definitions. [more...]

Date: 2009-10-01 12:11:00

Mexico’s public insecurity remains high

NATIONAL ASSOCIATION OF FORMER BORDER PATROL OFFICERS Visit our website: http://www.nafbpo.org Foreign News Report The National Association of Former Border Patrol Officers (NAFBPO) extracts and condenses the material that follows from Mexican and Central and South American on-line media sources on a daily basis. You are free to disseminate this information, but we request that you credit NAFBPO as being the provider. [more...]

Date: 2009-10-01 17:16:27

Australian Banking Majors Rank At The Bottom Of Customer Satisfaction Survey

Customers of the Big Four banking groups have expressed the lowest customer satisfaction levels in Australia, with most account holders being too ambivalent to switch to a different service provider, the results of a new survey reveal. After taking into consideration fees, interest rates and customer service amongst other things, the Big Four banking groups, which include Westpac, CBA, ANZ and NAB ranked at the bottom of a list containing 14 different lenders. [more...]

Date: 2009-10-01 11:01:36

Australian Banking Majors Rank At The Bottom Of Customer Satisfaction Survey

Customers of the Big Four banking groups have expressed the lowest customer satisfaction levels in Australia, with most account holders being too ambivalent to switch to a different service provider, the results of a new survey reveal. After taking into consideration fees, interest rates and customer service amongst other things, the Big Four banking groups, which include Westpac, CBA, ANZ and NAB ranked at the bottom of a list containing 14 different lenders. [more...]

Date: 2009-10-01 05:30:29

Today's Stimulus Hearing

This morning's Republican hearing on the economy offered several alternatives to the Democratic stimulus package that was set forward just afterward ... : A "net new hire" tax credit, which would make it less risky and expensive for businesses to expand ... businesses to make such investments, as they must currently report depreciation losses slowly over [more...]

Date: 2009-01-15 23:53:16

Another Quasi-Nationalization, House Debuts Obama Stimulus, Russian Resource War Approaches, Prices Fall and More!

by Addison Wiggin & Ian Mathias Congress unleashes remainder of TARP… another $350 billion into the void Treasury wastes no time… Bank of ... and hawing on how “It’ll be different this time,” the rest of the bailout went straight to the Treasury ... and Merrill in less than 12 months. Today we learned Lewis has been pleading with Uncle Sam [more...]

Date: 2009-01-16 20:25:19

Credit Crisis Sequel, Global Bank Bailout, Emerging Markets Still a Buy?, Gas Wars and More!

Ghosts of the fourth quarter haunt global financials… so begins the second act of the credit saga… Even the IMF needs a loan… $150 billion to back ... and notprofitable) segments of the business. Robert Rubin, who among other things helped create this “ ... predicted today. According to Morgan’s report, profits at HSBC will decline “sharply” this year [more...]

Date: 2009-01-16 15:28:24

Blocking, Tackling & Running: Leveraging a Crisis Into Real Change

There's a fairly well known cartoon of two scientists working out a problem on a chalkboard covered with complex equations and down in the circle is a little circle with the key step inserted in small print - "and then a miracle occurs". Wouldn't it be nice if we could take the same short-cut to fixing the horrendous shopping list of significant [more...]

Date: 2009-01-16 20:07:11

“Taking a Spin in Social Media” with Metanomics on Second Life

Source: Taking a Spin in Social Media: Building a Virtual Advantage in Online Communities TRANSCRIPT OF METANOMICS INTERVIEW WITH CHRIS ABRAHAM METANOMICS: TAKING A SPIN IN SOCIAL MEDIA: BUILDING A VIRTUAL ADVANTAGE IN ONLINE COMMUNITIES SEPTEMBER 30, 2009 ANNOUNCER: Metanomics is brought to you by Remedy Communications and Dusan Writer’s Metaverse. ROBERT BLOOMFIELD: Hi. I’m Robert Bloomfield , professor at Cornell University ’s Johnson Graduate School of Management. [more...]

Date: 2009-10-01 16:31:51

A cat fight at the Fed

Apparently they're not all singing from the same hymn book these days over at the Federal Reserve as Philly Fed President Charles Plosser has broken ranks with Fed Chief Ben Bernanke on how the central bank is using its massive balance sheet ... , if the world does avoid another Great Depression, what will it look like? This report at MarketWatch tells [more...]

Date: 2009-01-15 07:02:38

Windows Azure and Cloud Computing Posts for 10/1/2009+

Windows Azure, Azure Data Services, SQL Azure Database and related cloud computing topics now appear in this weekly series.   Note: This post is updated daily or more frequently, depending on the availability of new articles in the following sections: Azure Blob, Table and Queue Services SQL Azure Database (SADB) .NET Services: Access Control, Service Bus and Workflow Live Windows Azure Apps, Tools and Test Harnesses Windows Azure Infrastructure [more...]

Date: 2009-10-01 23:00:00

We’re all in this together

AEX Commercial Financing Group was helping with business finance funding difficulties well before the current financial crisis was recognized by ... small business owners with the growing challenges involved when seeking new commercial loans ... that so far only a small number of financial companies appear to be acting as if they truly understand [more...]

Date: 2009-01-16 17:38:22

Welsh Investment letter – September 2009

~~~ V-SHAPED RECOVERY VERSUS SECULAR AND CYCLICAL HEADWINDS Growing up in Chicago, I looked forward to every baseball season, and I cheered for both the White Sox and Cubs, since neither team won that much. I never saw the point in being choosey. The GO-Go White Sox went to the World Series in 1959, before winning it 46 years later in 2005, and 88 years after winning in 1917. The Cubs haven’t won a World Series since 1908, and that 100 year streak appears safe in 2009. [more...]

Date: 2009-10-01 14:45:08

Urban doubt-fitter

By Ryan Avent Barack Obama, man of the city. Photo: Based on image by Matthias Winkelmann The effort to save the American economy is front and center at the moment, but a term is four long years. Beyond the immediate crisis, President-elect Obama -- who hadn't exactly set a modest agenda before the economic collapse -- hopes to transform much [more...]

Date: 2009-01-14 18:40:46

1-16-2009 (Fri Evening) Fin. & Econ. Activity

House Democrats’ version of the $825 billion recession rescue package would end billions of dollars in tax breaks the Bush administration quietly ... debt until 2019, hoping to encourage new lending - CNN Money, David Goldman Top Videos of the Week ... s biggest bond fund, said Friday - CNBC (Reuters) >>>Credit Where Credit is Due….In truth [more...]

Date: 2009-01-17 02:00:46

DEMS SEEK TO BLAME BUSH FOR THEIR MISMANAGEMENT

Submitted by: Clark Havard Fannie, Freddie And Now, Hannie By INVESTOR’S BUSINESS DAILY | Posted Thursday, January 15, 2009  Subprime Crisis: The media have pounded President Bush for a wave of Hispanic home foreclosures. But it was Democrats who launched a drive to loosen credit for Hispanics — many of them illegals.   Democrats [more...]

Date: 2009-01-16 19:40:15

De-leveraging the Children of Wall Street

submitted by James Baker Welch, VP of Rothschild Investments One of the most stunning facts of the 2008 Financial Melt-down has been the wholesale ... regulatory agencies to determine if the institution has met the credit needs of its entire community. 1   The CRA began to compel banks to underwrite less credit-worthy mortgage loans in order [more...]

Date: 2009-01-15 15:40:18

Why Did Bank of America Pay ACORN?

On September 29, the article “Bank of America Pulls ACORN funding” appeared on the CNN political ticker. While the short piece thankfully does list some of ACORN’s recent scandals, such as the Breitbart video investigation and the voter registration fraud, it didn’t answer the question that was surely on every reader’s mind: What exactly [more...]

Date: 2009-10-01 07:08:36

Highlights and Lowlights of BofA’s Earnings Call

Bank of America moved its earnings announcement up to this morning to soothe investors after The Wall Street Journal’s report that BofA would need ... and $27 billion in credit costs. Many of the problems originated at Merrill Lynch, which had a loss ... Goldman Sachs research analysts noted wryly in a research report this morning. BofA CEO Ken Lewis [more...]

Date: 2009-01-16 16:01:30

Identify Credit Repair Scam in 6 Ways!!

by David Wada Everyday, companies target consumers who have poor credit histories with promises to clean up their credit report so they can get a ... . The truth is, these companies cant deliver an improved credit report for you using the tactics they promote. Its illegal: No one can remove accurate negative information from your credit report. So [more...]

Date: 2009-01-16 06:23:45

How to fix finance

Financial regulationHow to fix financeAn influential group makes some provocative proposals for re-regulating global financeWITH the fires still ... to be the one when governments embrace re-regulation in an effort to fix it. A weighty report published ... the bulk of the findings. “Everyone stands behind the report in spirit. No one disowned it,” says [more...]

Date: 2009-01-16 17:08:00

Recognizing a Credit Repair Scam

by David Wada Everyday, companies target consumers who have poor credit histories with promises to clean up their credit report so they can get a ... . The truth is, these companies cant deliver an improved credit report for you using the tactics they promote. Its illegal: No one can remove accurate negative information from your credit report. So [more...]

Date: 2009-01-16 06:24:58

If Your Kid Loses His Wallet...

A picture of a wallet. In addition to a driver's license, teens today carry many of the same things adults carry in their wallets: credit cards, ... alert on your accounts. Report the loss to the fraud department at your bank. Review your credit ... need to know what to do if their wallet or purse is lost or stolen — and they need to act quickly [more...]

Date: 2009-01-16 05:45:56

You Can Stop a Junk Debt Buyer’s Collection of Your Older Credit Card Debt

by Matthew Highlander A consumer with knowledge of existing consumer protection laws can stop a junk debt buyer’s credit card debt collection attempts. Junk debt buyers are companies that buy batches of thousands of discharged credit card accounts from the credit card banks for pennies on the dollar (under 10 to 15 cents per dollar of debt). Junk debt buyers also resell these accounts to each other for as little as less than one cent per dollar of debt. [more...]

Date: 2009-10-01 18:47:03

Friday wrap

Dem Congress to pump raw sewage into nation's workplaces ... The AFL-CIO advanced an argument detailing why a "majority sign-up" is the best option for preserving "the freedom of working people." Below is a syllogism that encapsulates an argument found on the AFL-CIO website.1. The workplace environment has been poisoned by browbeating employers.2 [more...]

Date: 2009-01-16 11:30:00

Fed calls West’s housing markets feeble

The Fed’s San Francisco unit had its harshest words to date to say about the West’s real estate markets in the first 2009 “Beige Book,” a Federal Reserve Board report on regional economic ... by the bay. (MAP HERE!) In this #1 regional “Beige Book” recap for 2009, (Read full REPORT HERE [more...]

Date: 2009-01-15 08:20:07

Big Media Distorts Bush Economic Record

by James Pethokoukis, US News & World Report His presidency is almost over. But what is the true George W. Bush economic record? ( ... some of my free market principles when I was told by chief economic advisors that the situation we were facing ... at a really impressive 2.6 annual rate during the Bush years [more...]

Date: 2009-01-14 16:39:10

What's It Going to Take to Lock Up Drug Company Execs?

A recent article in the New England Journal of Medicine reveals the shocking extent of how corrupt drug companies are ... seizures. How did U.S. annual sales of Neurontin increase from $98 million in 1995 to nearly $3 billion ... -- and how the Neurontin financial bonanza was created. In 1996, David Franklin, a young biologist [more...]

Date: 2009-01-16 23:59:01

Bank of America Needs America’s Money

Ongoing chatter about the health of Steve Jobs aside, the focus, once again, is on the banking industry, ... and additional funds set aside for credit losses. But J.P. Morgan shares rose 49 cents to $26.40 a share, as this report was viewed as a bit better than anticipated. The same cannot be said for Bank of America [more...]

Date: 2009-01-15 15:20:40

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