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POPSRevamping 401(k)s Some 401(k) plans are turning to collective funds since they typically charge lower fees than mutual funds. But, not surprisingly, there are drawbacks. Learn more here.
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POPSAnother Funny Deal, Filipino style, my Lord, not again! Where do supposedly bright people get the idea that they can make a fool out of other people or even think of them to be thick? Is this some kind of the psychological projection, where you think others are as thick or as dense as you are? (Sa lahat ng ayoko, iyong ginagawa kang tanga!)
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POPSChina and Fannie Mae China has already been burned badly with its Blackstone and Morgan Stanley investments. But with the Big Macs and Maes, it's still the same old problem, the Chinese loaned them money which they can't pay back, however, much both sides want pretend that one day they can.
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POPSFBI Investigating IndyMac For Possible Loan Fraud Additionally, two former Bears Stearns managers were indicted last month on conspiracy and securities and wire fraud charges alleging they lied to investors in a hedge fund that tanked last year as the subprime market collapsed. Those charges marked the first criminal charges to arise on Wall Street from the subprime mortgage debacle.
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POPS The $4 Billion Senator Only last week, the Securities and Exchange Commission announced an investigation into the role of rumor-peddlers in the run on Bear Stearns. We somehow doubt that Mr. Schumer will receive similar SEC scrutiny for his very similar role in bringing about a liquidity crisis at IndyMac. But he may be more deserving. Last week, Mr. Schumer's Senate colleague Chris Dodd took the spotlight to insist that everything was fine, just fine, at Fannie Mae and Freddie Mac. For how that turned out, see here. In its own way, Mr. Dodd's declaration was as irresponsible as Mr. Schumer's, given that its goal was to protect the companies from greater regulatory scrutiny of the kind long proposed by the Bush Administration. http://online.wsj.com/ Paulson's Fannie Test Mr. Schumer was not content merely to share his profound concern with regulators. He also leaked the June 26 letter to the press – which is more like shouting "fire" in a crowded bank than dialing 911.
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POPSSEC investigating false rumors on Wall Street This would really be something. Some of the organizations being investigated are enormous. It's really incredible how ugly thing on Wall Street are these days. If it is proven that Bear Sterns was taken down - at least partially - by the spreading of false rumors, it would be a devastating blow to the credibility of our financial markets.
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POPSMaking Sense Of Problems At Fannie And Freddie Guaranteed Mortgages Fannie Mae's exposure to the housing market has soared. Its outstanding guaranteed mortgages tripled from 1998 to 2007. Delinquency Rates The delinquency rate on Fannie Mae mortgages is rising. This increases the chance that the company will have to make good on its guarantees. Borrowing Costs Borrowing costs are volatile and rising, reflecting investor concerns about Fannie Mae's health. What Is the Reach of the Problems? Fannie Mae and Freddie Mac own or guarantee about half of the nation's $12 trillion mortgage market. Housing Markets They provide the capital that banks use to write new loans. If Fannie and Freddie stop buying loans, banks may stop making new loans, freezing the United States housing market.
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POPSCDOs Rise From The Dead These reinvented CDOs are supposed to be less risky...we'll see. Fool me once, shame on you. Fool me twice, shame on me.
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POPSNational News vs. Local News The statistics I see for Spokane show our market holding their value from last year or perhaps slightly declining. All these gloom and doom predictions may compel some buyers to wait and become a self fulfilling prophecy. Now is a great time to buy.
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POPSNYSE Euronext Beats LSE To Doha Deal The deal with NYSE Euronext is part of Qatar’s master-plan for revamping its financial architecture as it aims to raise the standards of its stock market and banking system in anticipation of windfall from gas exports in the coming years that will double government revenues.
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POPSHundreds Swept Up In Mortgage Fraud Arrests In separate arrests, two former Bear Stearns managers in New York were indicted Thursday, becoming the first executives to face criminal charges related to the collapse of the subprime mortgage market. Mortgage foreclosure rescue scams, which promise to help struggling homeowners stave off foreclosure and keep their homes, also have become a major problem, officials said. Typically, unsuspecting owners sign over their homes and then find they are victims of fraud. Officials declined to say who might be the next corporate target, but Mueller said the investigations focus on accounting fraud, insider trading, and failure to disclose the value of mortgage-related securities and other investments. Under review for potential fraud are: investment banks, hedge funds, credit rating agencies, brokerage houses and due diligence firms - which evaluate loans packaged into investments.
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POPSPoets Will Celebrate Al Gore 1,000 Years From Now Gore spotlights a number of these companies, including Smart Car, Amyris Biotechnologies, Altra Biofuels, Mascoma (cellulosic ethanol), Great Point Energy (biomass-to-gas and carbon capture technology), Altarock Energy (geothermal energy), Bloomenergy (fuel cells), Missole (solar technology) and Ausra (solar technology). Flashing their corporate logos on the screen, Gore states, “Here are just a few of the investments that I personally think make sense. I have a stake in these….” Putting aside the questionable legality of Gore’s promotion of his investments -- conduct that could very well be contrary to federal and state securities laws that forbid an unlicensed individual from promoting unregistered securities to the public -- it seems that it’s important to change the laws so that Gore can expand the $100 million-plus fortune he’s already accumulated since leaving public service in 2001.
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POPSCommodity speculation and the cost of living As high-tech stocks and real-estate investments have started to look less promising, financial speculators have turned to commodities. This is why energy and food prices have shot up so dramatically around the world.
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POPSCuomo, Wall Street Agree On Mortgage Debt Overhaul The deal applies only to riskier, non-prime loans in America, and is designed to end what the industry calls "ratings shopping" that pits credit-rating agencies against one another. The $5 billion rating agency industry has been accused of issuing favorable ratings to secure business with leading Wall Street investment banks. The three ratings agencies also signed a letter of agreement to work with Mr. Cuomo to pursue further reforms for the mortgage industry. The attorney general said his probe into the entire mortgage industry, including loan originators and big banks, is ongoing. "We continue to believe that the more our customers, investors and other market participants know about how we do our work, the better," the president of Standard & Poor's, Deven Sharma, said. "We continue to work with the attorney general and policymakers to support effective operations of the world's capital markets."
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