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- The SEC: Missing In Action
The media are now piling on the SEC and the Madoff failure, something that we highlighted last week.
Reporting to the SEC
We suppose that other investment advisors have made reports to the SEC. We have done so on two occasions. In both cases there was a slam-dunk violation of the ‘33 Act, a stock offering that was obviously fraudulent, not meeting the terms of the Act.
The SEC does not respond to reports — not at all. There is not even an acknowledgment. In one of our … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. 
Переслать - Forex Trading: USD/JPY Reaches New 13-Year Low
The USD/JPY has reached a new 13 year low for the pair. The price has moved below the lows from Monday at 88.27. The low so far is 87.77. The low in August of 1995 was 88.75. The dollar continues to come under pressure against all currency … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Gold To Become More Expensive
The surprise move by the Fed to lower the Fed funds rate by more than 75 basis points to a record low and an unprecedented band between 0.25% and 0% led to sharp falls in the dollar (low of 1.4188 to the euro) and a spike in the gold price to over $859.40/oz.
The Federal Reserve has embraced 'Helicopter Bernanke’s’ “inflate or die” massive reserve and money creation academic theories in an attempt to prevent deflation. Markets realise that this will lead to a lower dollar and higher … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - The Fed Gets Zero For Zero
Guns a blazin’ since this financial crisis began, the Fed fired its final shot yesterday (Tuesday). It lowered the target range for the federal funds rate to 0% to 0.25%. Welcome to the United States of Japan!
In all seriousness, the federal funds rate is the rate (price) banks charge other banks on overnight deposits. It’s the primary monetary policy tool at the disposal of Ben Bernanke and the Federal Open Market Committee (FOMC). And the purpose of dropping rates is to encourage … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Forex Trading: EUR/USD Breaks Through 50% Fibonacci Level
The EUR/USD is breaking through the 50% Fibonaci Retracement level of the move down from the July high. The level comes in at 1.4183 now and will act as support ging … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Stock Trading Theories Get Tossed Out In Today's Market
In today’s market, today’s trading theories can be tossed out the window.
Theories such as…
The first half of the year tends to bring better returns than the second half.
That markets in the northern and southern hemispheres predictably succumb to the winter blues, or Seasonal Affective Disorder.None of these theories are dying off as much as the “January Effect,” or the “expected” time of year when tax-conscious investors sell stocks to write off losses against capital … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Not Stepping In Front Of The Steamroller
Markets have suddenly become moderately interesting again (though they remain bum-clenchingly illiquid), helped along by yesterday’s (Tuesday) Fed announcement of quasi-ZIRP and quasi-quantitative easing.
Perhaps Macro Man is alone in this sentiment, but he didn’t actually see much new news in yesterday’s announcement. Sure, the target Fed funds rate was a bit lower than folks expected, but given that the effective funds rate has closed between 0.10% - 0.20% for the past two weeks, the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - With New Home Construction Down, Obama Team Plans 'Bailout For The Masses'
New home construction fell in November by the largest amount in a quarter-century, as builders slashed production while facing the worst economic conditions since the Great Depression.
However, a new blizzard of government money may be coming to your neighborhood, and it promises to be a true bailout for the masses, not just for those in foreclosure or real financial difficulty.
Tight credit and lending markets, rising foreclosures, and surging unemployment figures have homebuyers on … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Stock Market Rally: Is This It?
The US Federal Reserve yesterday (Tuesday) pulled out all the stops in a frantic effort to save the US economy from collapse and stem the deflationary forces. The Fed funds rate was slashed from 1% to a target range between 0 and 0.25% - the lowest the central bank’s key rate has been since records began in 1954.
In reality, the Fed is simply aligning its target rate with the effective rate and thereby pushing monetary policy into an era of Zirp, i.e. a zero-interest-rate policy.The … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - India Banking Policy: What The Heck?
Banks told to bear half of exporter’ forex losses
Speaking to ET, a commerce department official pointed out that many exporters did not fully understand the exotic derivatives products and banks were also responsible for the losses. “We have proposed that losses should be split between the exporter and the bank,” the official said.
This is a terrible precedent. Responsibility is being shifted from the decision maker:If the derivative had gone in favor of the exporter, would the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Forex Trading: USD/CHF Breaks Key Support
USD/CHF has broken a major support level at the 100 Day MA nad 61.8% Retracement of its move from Sept 22nd at 1.0692 to the High 11/21 at 1.2297. Look for next support at the 200 Day MA around 1.0845 with immediate resistance now seen at old support around 1.1300 A retracement break back above resistance could yield 1.1492 (R2) and on to 1.1682 (R3) with a break below looking for the old low around … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Global Investing Roundups: Best Buy, Goldman Sachs, Berkshire, Crude Oil
Best Buy Profit Falls 77%; Goldman Sachs Posts $2.12 Billion Loss; New Permits and Starts at Record Low; Brazil Retail Rises 10.1%; Berkshire Buys NC Real Estate Brokerage; Crude Slides in Spite of OPEC
Profit at electronics retailer Best Buy Co. (BBY) fell 77% during the company’s fiscal third quarter ended Nov. 29. The company said it would offer buyout packages to nearly all corporate employees to save on costs as it trudges through a dismal holiday shopping season, the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - How To Avoid Madoff Mayhem
Bernard Madoff, former chairman of the NASDAQ, was turned into the authorities by his sons last Thursday after his hedge fund, Bernard L. Madoff Securities LLC, was declared an insolvent “giant Ponzi scheme,” scamming individuals, institutions and charities of billions of dollars. Here are some lessons the rest of us should take away from this event. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Why ETFs Play A Role In Market Volatility
Are high-octane, leveraged exchange traded funds (ETFs) to blame for the wild moves in the last hours of trading?
The market’s volatility has been amplified in the last hour or so of the trading day for much of this year. A report published by Credit Suisse, indicates that an average 26.2% of trading volume in the S&P 500 stock index took place in the final hour of trading and 17.1% in the last 30 minutes. This surge in trading has come amid big swings in prices of 3% to 4% in … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Baltic Capesize Index On A Run
There has been and continues to be a lot of news and analysis about the Baltic Dry Index, BDI, which tracks the cost to ship dry bulk goods. Many “investors” have been using the ups and mostly downs to decide whether to buy or sell a host of shipping companies, whether they are in the dry bulk business or some other shipping business.
One of the subset of Baltic indices is the Baltic Capesize Index, BCI, which tracks the shipping costs on the largest of the dry bulk ships, the Capesize. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - A Pipe Dream: Cramer's Prediction Of A Housing Market Bottom In Mid-2009
With respect to mortgage and housing and Tuesday’s Fed action, we already knew most of what was announced. If a week from now you can go out and get an Agency Jumbo ($417,001 to $625k) under 6.5% or a bank portfolio Jumbo from $625,001 to $1 million+ under 7.5% I will pay attention. But as of now it is more of the same - the foreclosure market is the real estate market, higher grade paper defaults are accelerating, negative-equity is epidemic, and higher end home prices are … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Commodity ETFs, ETNs: Which Is Better?
Commodities have seen their fair share of market volatility for the year, and exchange traded funds (ETFs) and exchange traded notes (ETNs) have gone along for the ride.
At one time this sector was considered a safe haven of sorts, with ETFs and ETNs giving investors a diversified and safe entrance to commodities exposure, at a reasonable price without physical delivery. The recent slip of crude oil prices has affected nearly every commodities-focused fund and note, even those with … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Getting Started With A Dividend Re-Investment Plan
In May of 2006 I bought 40 shares of Royal Bank of Canada (RY) and registered the shares inside a dividend re-investment plan with their transfer agent, Computershare by contacting my broker and having them send the shares there. Computershare sent me the actual share certificate (below) because the moment I registered for the dividend re-investment plan the shares were actually held with Royal Bank as opposed to held with my broker as my representative. Royal Bank uses Computershare to … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Daily Forex Analysis: Traders Dump US Dollars
Looking Ahead to Wednesday
All times EASTERN (-5 GMT)All Day ALL OPEC Meeting
8:30am USD Current Account
10:35am USD Crude Oil InventoriesSummary
In a surprise move, the FOMC voted unanimously to cut rates a larger than expected 75 BP putting the FF rate at .25% and announcing to the world that the USD is now the cheapest currency on the planet. Traders responded by dumping Dollars against everybody in what is sure to become common practice in the year ahead. In the move to … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: Fed's Unprecedented Cut
The Federal Reserve surpised Wall Street by cutting rates down to the range of 0-0.25%. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Fed Slashes Interest Rates To 0% To 0.25% Target Range … But Now What?
As expected, U.S. Federal Reserve policymakers slashed a benchmark interest rate yesterday (Tuesday). But they cut it by a bigger-than-expected amount, and did so in an unconventional manner.
Instead of establishing a new, specific primary interest rate, the central bank’s Federal Open Market Committee (FOMC) voted for a target range - 0.0% to 0.25% - a record low. Before yesterday’s cut, the Federal Funds target rate stood at 1.0%.
Instead of addressing the reason for its peculiar … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - SEC To Conduct Full Review Of Its Ties To Madoff
Only a few days after Bernie Madoff’s $50 billion Ponzi scheme was exposed to the public, the Securities and Exchange Commission Chairman Chris Cox, in a startling admission said that the SEC was aware of numerous red flags raised about Madoff’s influential firm, but failed to take them seriously enough. Mr. added he was “gravely concerned by the apparent multiple failures over at least a decade” by staff to look into these allegations or seek at any point formal authority to investigate … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Forex Trading: AUD/USD Moves North On Dollar Weakness
With an unexpected rate cut of 75 (variable to 100) basis points by the Fed Tuesday and with USD weakness already in the pipeline the last few weeks, we see the AUD following Asian and European currencies north against the USD. Looking at a daily retracement analysis (7/15 high - 10/28 lows) on the pair we see some technicals coming into play with more on the horizon. We will be looking for short-term support on the pair above the 69 handle and longer-term resistance at the .7470 level at … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Forex Trading: EUR/JPY Approaching November Highs
After the Yen made a run across the board, it has begun to fall off against the Euro, following the EUR/USD pair which received an enormous bid today, before and after the rate decision, along with US equities. Looking at a retracement analysis of the pair, we see it about to test November highs, which could prove to be some resistance. We will also be looking at the 61.8% retracement level to provide support along with the 4 -200 hour moving … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - The US Economy Has Become A "Fiat Economy"
Ask yourself this question: Why has the Federal Reserve essentially created a 'zero interest rate policy’ for the United States today by cutting the Fed Funds rate to near zero?
If your answer is 'to create economic growth’, then I must tell you that you are listening to Jim Cramer too much.
The correct answer is that the Federal Reserve is desperately trying to 'create credit growth', not organic economic growth. When the United States lost its status as a manufacturing … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Apple Says 2009 MacWorld Will Be Its Last
Spin the panic wheels and beat the panic drums, Apple (AAPL) is pulling out of MacWorld. For years the marquee event for most Apple faithful, 2009 will unfortunately be the company’s last hurrah. On top of that, stock holders should feel some momentum pain as Steve Jobs will not be giving the Keynote speech at the final circling of the wagons.
The reasons given by the company were clear. Apple’s too big now and too global to succumb to the whims of trade shows. Granted the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Bankers Are Now Looking For New Suckers
I received this picture in my email inbox, titled I finally got the Christmas lights up last night. While amusing, this seems to be a metaphor for how Wall Street behaves these days: All sizzle and no steak.
No contrition at all. After the recent train wreck in the world financial markets, you would think Wall Street would be a little bit contrite and be more careful about what kinds of products gets pushed. Apparently, they are only paying lip service to that concept. I … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - ETF Wrap-Up: Helicopter Ben Drops Cash And Markets Love It
Bernanke is living up to his reputation as helicopter drops of cash will rain on markets until his academic research is vindicated. It’s as most have been saying, “when push comes to shove politicians and officials will choose to inflate.” Theoretically, barring heavy central bank sales, investors have been given the green light to buy gold and hold it until the Fed reverses course. Uncle Buck will also take a hit.
So, the markets love this and you can buy, so bulls say, what you wish … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - The Parable Of Managing America's Automaker Industry
Sometimes being on the outside allows one to see the inside a lot clearer. A good friend/client in Hong Kong recently emailed me the following parable that makes a comparative analysis of American management vs. the Japanese. In this parable, the Japanese are a metaphor for any sensible country that has maintained and preserved its manufacturing base.
I tend to agree with this parable as it highlights a key problem with modern American work ethics and business culture, i.e. too many … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Look At Some Of Tuesday's Action
USD got beat up as Fed announced their plan to save the US economy. The plan involves relentless printing of money and expansion of the balance sheet of the nation to attempt to stave off a Depression. I’ve put together a few charts that tell the story.
The Japanese Yen and Euro exploded at the expense of the USD:Nat Gas rallied higher…
Oil seemed confused…
Bonds continue their rampage … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Fed Cuts Interest Rates: Does It Matter?
The Fed has targeted 0.00-0.25% in the fed funds rate, and mortgage rates are currently moderate as well. But does it really matter?
Financial institutions have been taking out advertisements that they are willing and ready to lend. The catch? They will only lend to “qualified borrowers.” What constitutes a “qualified borrower”?
While most institutions will not say, it would not be unreasonable to view as their potential target a 725-750 FICO score, versus 650-675 about a year ago. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Companies In The S&P 500: So Where Did All The Money Go?
The following article discusses Goldman Sachs Group, Inc. (GS), Bank of America Corporation (BAC), General Electric Company (GE), Ford Motor Company (F) and General Motors Corporation (GM).
From 2004 through the 3rd quarter of 2007, corporate America enjoyed one of the most robust periods of profitability ever. This should have left it in very good shape financially when the downturn occurred. However, this has not been the case. Every time you open the paper it seems like … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Satire: Where Did The Economy Go Wrong?
Starting the day off with some humor, here is a graphic from the Onion, which attempts to explain the current US economic crisis:
Graphic courtesy of the Onion
The sad part is that despite the fact that Onion is pure satire many elements of the graphic are actually spot on. Perhaps the biggest tragedy of our current crisis is the fact that present day satirist can report elements of it without any alterations, which of course begs the question: what in the world where these … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Fed Cuts To Range Of 0% To 0.25%
The Fed cut the fed funds rate by a range of 75 to 100 basis points. The new range is 0 to 25 basis points, as opposed to an absolute target. The discount rate was cut by 75 basis points to 0.5% and a 0.25% rate was established on required and excess reserve balances of 1/4 percent.
Though the size of today’s cut was bigger than many forecast (expectations for a 50 basis-point cut had risen dramatically over the past 7 days), the initial reaction in the stock market has been positive, … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Electronics A Tough Sell Yet Best Buy Stands By Forecast
Oh to be a Electronics Retailer during a recession, roughly as sought-after a profession as ‘Big 3 personal flight crew’, after that first trip to Washington. But Best Buy (BBY) is holding on in the midst of turbulence while its main competitor has all but bowed out. With Circuit City Stores (CCTYQ.PK) trading OTC and trying to stay afloat, BBY would seem to be serving for the match. If only customers would come to the stores and buy that is.
With profits down 77% year over year in … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Who Will Benefit From Obama's Energy Policy?
I’ve been receiving a lot of questions lately about how the Obama administration’s energy policies will effect the renewable energy sector. After all, the President-elect has been very vocal about insisting on the need to develop new, cleaner forms of energy, stating in very clear terms that the future of our economy and national security is inextricably linked to the challenge of energy.
Now it doesn’t take a rocket scientist to realize that Obama’s energy policies will only lend … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Do Retail, Oil ETFs Reflect Plummeting Prices?
While consumer prices are falling at the fastest rate on record, it doesn’t seem to be delivering an equal boost to retail exchange traded funds (ETFs).
While some of the larger retail funds are up slightly in the last month, it’s hardly reflective of the rapid drop in prices, which hasn’t been seen since the government began keeping track in 1947. At cash registers and gas pumps, prices were 1.7% lower in November from the month before, reports Jack Healy for the New York Times.
It’s … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Which Elliott 4th Wave Are We In Currently?
There’s a rather large debate currently brewing among Ellioticians regarding exactly which Elliott 4th Wave we are experiencing - though there’s widespread agreement we are in a 4th Wave Counter-rally. Let’s look briefly at both sides of the argument, and what it might mean for the near future - don’t miss this post.
I’ll present the first argument first. Elliotticians are generally in agreement until October 2008, in that we all generally agree that Waves 1 and 2 have … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Stock Picks And Trade Ideas For Wednesday - PAAS, BBY, RMBS
Chart courtesy of www.stockcharts.com ( click to enlarge )
Rambus (RMBS) remains in a clear uptrend, but there were three days of increasing volume and this stock is way overextended. The technical chart shows positive sign as the stock is now trading above 50 day moving average with KD rising and MACD now above 0. Recent surge may spur profit taking near the 200 DMA but for the short term is looking good.
Chart courtesy of www.stockcharts.com ( click to enlarge )
Best Buy … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Three Bargain-Hunting ETFs
The “R” word doesn’t have to be a bad thing, in fact, this can be a very prosperous time for those who prefer not to pay retail, either for their goods or exchange traded funds (ETFs).
Eventually, the wreckage that is the stock market will one day rebound, and the financial chaos that has everyone reeling will stop. However, the stock market will have to recover before any of the economy even starts to, and it could be a while. Gene Walden for Star Tribune reports that a normal … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - US Economy: Welcome To Japan
The US markets exploded higher after an unprecedented move by the Federal Reserve sent the Fed Funds rate to the lowest level ever. Believe it or not, we now have rates below that of Japan (0.3%), this is one thing I thought I would never see and hoped I would not. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Stocks Rally As Federal Reserve Cuts Rates To Historic Lows
The Federal Reserve made history today, cutting the overnight lending rate between banks to a range of 0% and 0.25%. This important pledge of support helped spark markets to huge increases as investors took well to the news. The actual rate had been hovering in this range for a while even though it was not the official target, but this rate cut reinforced the Feds commitment to stopping the financial crisis from getting worse. The Dow Jones Industrial Average (^DJI) rose 4.2% and … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - A Clueless Congress Wants Undercapitalized Banks To Lend More
I know I keep harping on this particular issue but it’s driving me up the wall at the moment, the clowns in Congress keep insisting that the banks increase their lending and/or lend out the TARP money, despite the fact that doing so would put us back at square one:
(From the WSJ): “WASHINGTON — House Speaker Nancy Pelosi suggested Monday that Congress will force the Treasury Department to do more to help struggling homeowners if the administration seeks access to the second half of its … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Ben Bernanke: The Printing Presses Will Run As Long As It Takes
Helicopter Ben has really arrived this time.
Faced with an economy that has fallen and can’t get up, the Fed decided today to give it everything it has got. It was pure shock and awe.
As for the wording of the statement, Ben Bernanke was as transparent as it gets. The printing presses will be running as long as it takes.
Here is the text from today’s historic Fed statement (emphasis mine):
“The Federal Open Market Committee decided today to establish a target range for the … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Suffering From Shopping Withdrawal
For many Americans, shopping resembles a religious experience. For others, the urge to spend represents an addiction every bit as powerful as those involving drugs, alcohol, or tobacco. And for some, keeping up with the Joneses is like being under the spell of a dangerous cult.
Now, with cold-turkey reality intruding and unexpected economic interventions leaving many formerly spendthrift souls unable to shop, some are experiencing a rash of unsettling symptoms. In “Downturn … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - FDIC To Raise Rates That Banks Pay For FDIC Insurance
Issued by the FDIC this morning:
Press ReleaseFDIC Adopts Assessments for Insured Institutions for 2009
FOR IMMEDIATE RELEASE
December 16, 2008The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today voted to adopt a final rule increasing risk-based assessment rates uniformly by 7 basis points (7 cents for every $100 of deposits), on an annual basis, for the first quarter of 2009.
“With higher levels of bank failures, the FDIC’s resolution costs … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Market Close: Dear Ben, Have You Lost Your Mind?
I think he has. Think back a moment here, what got us into this mess to begin with? It was the over abundance of credit.
What is the cure that the Federal Reserve is trying to administer by forced intravenous ? More credit! Yipee…
Instead of letting the system re-balance itself, the fed is trying with all their might to continue blowing air into a balloon with huge holes in it. This will not end well…
I will have more later … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - FOMC Policy Decision And Statement
FOMC CUTS RATES 75BPS TO 0.25% (MORE THAN EXPECTED)
- To deploy all available tools, see rates at exceptionally low rates for some timeFull FOMC Statement:
Press Release
Release Date: December 16, 2008
For immediate release
The Federal Open Market Committee decided today to establish a target range for the federal funds rate of 0 to 1/4 percent.
Since the Committee’s last meeting, labor market conditions have deteriorated, and the available data indicate that consumer … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - New Way To Access Emerging Market Sectors With ETFs
In an effort to give investors more investment options, Emerging Global Shares has announced that it will launch the first emerging market sector-based exchange traded funds (ETFs), but will they be a success?
The firm plans to launch 12 passively managed ETFs that track the Dow Jones Emerging Markets Titan Composite Index and will be the first to grab the 30 best companies across all emerging market countries. They will include the Consumer Services Titan Index Fund, Oil and Gas … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Economic Weakness Prompts US States To Adopt Tax Amnesty Programs
Facing a disastrous drop-off in tax revenue prompted by the stock market collapse and the current economic contraction, a number of states across the country are adopting tax amnesty programs - offering qualified taxpayers an opportunity to clear outstanding tax liabilities in exchange for a complete or partial suspension of interest and penalties that might otherwise be imposed.
According to AP, Nevada Taxation Department has given up more than $14 million in penalties and interest to … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - A 2009 Rebound In Commodity Prices? Here's Five Ways To Profit From It
Between September 2007 and June 2008, oil prices doubled, gold rose 30% and commodities, in general, advanced by a similar percentage.
So why, six months later, when prices have fallen back below last year’s levels, does everybody think they won’t rise again? The difficulties of extraction haven’t gone away, nor have the prospects of increasing consumption in the faster-growing emerging markets such as China. Yes, the prices of commodities are severely affected by marginal moves in … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Proctor & Gamble Cuts Outlook: What Does It Mean?
Proctor & Gamble (PG), the worlds largest consumer product maker, cut their 2Q09 sales outlook, stating that they would not be able to reach their organic sales growth target, which excludes sales from acquisitions, of 4-6% due to the strengthening dollar and weakness due to private label brands. However, P&G did not cut their profit forecast for the quarter and confirmed their full year sales and profit guidance for 2009. This is largely due to the recent pullback in commodity … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: Oil Prices Lower Despite OPEC & Fed Speculation
Oil prices still managed to fall this past trading session on shrinking energy demand despite speculation of OPEC production cuts and the US Federal Reserve lowering its interest rate … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: BlackBerry Makes A "Bold" Move Into Korea
BlackBerry maker Research In Motion, officially announced the release of their new BlackBerry Bold smartphone in the nation of Korea; making it the first ever BlackBerry to be available on the Korean market. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: Stocks Up On Strength In Financials
US markets trade higher ahead of the Fed’s decision as shares for Goldman Sachs lead the rally. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: Henderson: Not Out Of The Woods…yet
The economy is showing further signs of weakness, the dollar is under pressure and attention on Wall Street is turning to oil but the stock market is still holding on, says David Henderson of Raven Securities. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Ford: What Should Happen
We believe that Ford Motor Company (F) is one of the largest automobile manufacturers in the world. We believe that the company should file for bankruptcy to rid itself of Unions, pension and healthcare issues, and separate dealerships from the rest of the company.
The U.S. government should provide $25-$50B in aid, which will act as DIP [debtor-in-possession] financing. Any aid should force the company to only make 35MPG+ vehicles. Management should be purged and outsiders brought … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: Hang Seng Gains On US & China Rate Cut Speculation
Speculation that the US and China will be slashing its interest rate helped lead the Hang Seng towards further gains this past trading session. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: Dollar Sinks On Poor Housing Data Right Before Fed Decision
The US dollar continued its recent slide as investors await the US Federal Reserve’s rate decision combined with bleak US home data released earlier. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: Best Buy's Profit Falls 77%
Consumer electronics retailer Best Buy announced this morning that its recent quarterly profit fell 77% when compared to last year. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать
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