Friday, February 26, 2010
Biden to announce retirement savings safeguards
The Obama administration on Friday is proposing regulations aimed at protecting workers' retirement savings... The safeguards would protect workers from conflicts of interest on the part of financial advisers who manage their 401(k)s and individual retirement accounts, an administration official said, speaking on condition of anonymity because the proposal had not yet been formally announced.
The proposed regulations would require retirement investment advisers and money managers to either: base investment advice on objective computer models certified by independent experts; or refrain from steering workers into funds they are affiliated with or from which they are receiving a commission...
AP: Biden to announce retirement savings safeguards
The proposed regulations would require retirement investment advisers and money managers to either: base investment advice on objective computer models certified by independent experts; or refrain from steering workers into funds they are affiliated with or from which they are receiving a commission...
AP: Biden to announce retirement savings safeguards
Permalink posted by markw @ 9:55 AM 
Econ Briefing: New Tax Credits and Deductions for 2009; Imminent Bank Failures; 7 Year Note Auction...
• 5 new tax credits and deductions for the 2009 tax year - Feb. 25, 2010 - money.cnn
• Reports on Possible Imminent Bank Failures - calculatedriskblog
• 12 Awesome Things You Can Do With Your Bloomberg Terminal - businessinsider
• Fed MBS Purchases and the Impact on Mortgage Rates - calculatedriskblog
• Ten Wall Street Blogs You Need To Bookmark Now - ritholtz
• CHART OF THE DAY: The Unemployment Chart You'll Love And Hate - businessinsider
• Geithner to Trade Groups: 'Strong' Regulatory Reform Coming Soon - foxbusiness
• Fed's Pianalto: "May take years to get back to 2007 level of output" - calculatedriskblog
• Duck! Watch out for falling home prices - Feb. 25, 2010 - money.cnn
• This Could Blow a Hole in the Recovery - fool
• 7 year note auction was excellent but who is buying? - ritholtz
• Reports on Possible Imminent Bank Failures - calculatedriskblog
• 12 Awesome Things You Can Do With Your Bloomberg Terminal - businessinsider
• Fed MBS Purchases and the Impact on Mortgage Rates - calculatedriskblog
• Ten Wall Street Blogs You Need To Bookmark Now - ritholtz
• CHART OF THE DAY: The Unemployment Chart You'll Love And Hate - businessinsider
• Geithner to Trade Groups: 'Strong' Regulatory Reform Coming Soon - foxbusiness
• Fed's Pianalto: "May take years to get back to 2007 level of output" - calculatedriskblog
• Duck! Watch out for falling home prices - Feb. 25, 2010 - money.cnn
• This Could Blow a Hole in the Recovery - fool
• 7 year note auction was excellent but who is buying? - ritholtz
Permalink posted by markw @ 6:34 AM
Dodd punts on fiduciary requirement for brokers
Senate Banking Committee chairman Christopher Dodd, D-Conn., is expected to introduce new financial reform legislation next week that excludes applying a fiduciary standard to brokers offering investment advice.
The provision was circulated two weeks ago by Sen. Tim Johnson, D-S.D., a Banking Committee member. Rather than classifying certain brokers as registered investment advisers, Mr. Johnson's proposal would require the Securities and Exchange Commission to conduct a study of regulatory standards for brokers and advisers, then propose rules on the issue...
Investment News: Dodd punts on fiduciary requirement for brokers
The provision was circulated two weeks ago by Sen. Tim Johnson, D-S.D., a Banking Committee member. Rather than classifying certain brokers as registered investment advisers, Mr. Johnson's proposal would require the Securities and Exchange Commission to conduct a study of regulatory standards for brokers and advisers, then propose rules on the issue...
Investment News: Dodd punts on fiduciary requirement for brokers
Permalink posted by markw @ 4:48 AM
The Case for Annuities Grows as More Boomers Retire
As the Baby Boomers head into head into retirement, more and more of them will be facing a situation that a growing chunk of retirees are already grappling with: life in retirement without a pension.
What's worse is there have been numerous studies that have shown the Boomers have not saved enough to fund what will be potentially 25 to 30 years of a healthy and active retirement.
To help solve this problem, many in the investment world are taking a fresh look at annuities, and many financial planners — and even President Barack Obama's administration — are finding there's a lot there to like...
CNBC: The Case for Annuities Grows as More Boomers Retire
What's worse is there have been numerous studies that have shown the Boomers have not saved enough to fund what will be potentially 25 to 30 years of a healthy and active retirement.
To help solve this problem, many in the investment world are taking a fresh look at annuities, and many financial planners — and even President Barack Obama's administration — are finding there's a lot there to like...
CNBC: The Case for Annuities Grows as More Boomers Retire
Permalink posted by markw @ 4:47 AM
Editorial: Protect consumers from insurance fraud
The state Senate passed a bill Tuesday to protect consumers from insurance scams that often target the seriously ill and elderly.
Senate Bill 513 adds oversight provisions for life settlement transactions, in which an individual sells his life insurance policy to a third party for a cash sum, often to cover medical bills...
Post-Crescent: Editorial: Protect consumers from insurance fraud
Senate Bill 513 adds oversight provisions for life settlement transactions, in which an individual sells his life insurance policy to a third party for a cash sum, often to cover medical bills...
Post-Crescent: Editorial: Protect consumers from insurance fraud
Permalink posted by markw @ 4:46 AM
AIG Ditches Payback Plan as Outlook Improves
American International Group Inc. and its federal overseers have decided to scrap a plan to use cash flows from life-insurance policies to repay $8.5 billion in debt to the Federal Reserve Bank of New York, according to people familiar with the matter.
The decision, which comes as AIG prepares to report fourth-quarter results Friday, follows a market recovery over the past year that could improve the government-controlled insurer's chances of repaying its debts to U.S. taxpayers...
WSJ: AIG Ditches Payback Plan as Outlook Improves
The decision, which comes as AIG prepares to report fourth-quarter results Friday, follows a market recovery over the past year that could improve the government-controlled insurer's chances of repaying its debts to U.S. taxpayers...
WSJ: AIG Ditches Payback Plan as Outlook Improves
Permalink posted by markw @ 4:37 AM
Thursday, February 25, 2010
Advisor Blast: Prospecting for clients? Try beer; USAA Criticizes Prop 17; The 2014 HY Maturity Cliff...
• Prospecting for clients? Try beer - investmentnews
• 8 Tax Credits You Need to Know About - businesspundit
• The 2014 HY Maturity Cliff: Bank of America's Take - zerohedge
• Nation's Leading Insurer of Soldiers, USAA, Criticizes Prop 17 - insurancenewsnet
• Commercial insurance lines rates forecast to 'flatten' this year - ifawebnews
• 8 Tax Credits You Need to Know About - businesspundit
• The 2014 HY Maturity Cliff: Bank of America's Take - zerohedge
• Nation's Leading Insurer of Soldiers, USAA, Criticizes Prop 17 - insurancenewsnet
• Commercial insurance lines rates forecast to 'flatten' this year - ifawebnews
Permalink posted by markw @ 6:10 AM
International Blast: Asia leads the way; Japan past point of no return; China reported buying IMF gold; Greece makes bailout impossible...
• Asia Leads the Way Out of Recession - online.wsj
• It's Now Dead Obvious Asia Doesn't Need The West Anymore - businessinsider
• Japan Past the Point of No Return; Call Me Mr. Realist - ritholtz
• The Netherlands' Drive to Build a Service Economy - businessweek
• China reported to be buying IMF gold - maxkeiser
• Greece has now made a bailout impossible - businessinsider
• It's Now Dead Obvious Asia Doesn't Need The West Anymore - businessinsider
• Japan Past the Point of No Return; Call Me Mr. Realist - ritholtz
• The Netherlands' Drive to Build a Service Economy - businessweek
• China reported to be buying IMF gold - maxkeiser
• Greece has now made a bailout impossible - businessinsider
Permalink posted by markw @ 6:08 AM
Econ Blast: Housing a Leading Indicator; GGP Break-Up Plan; California Closer to Insolvency; NAR Forecasts No Recovery in '10...
• Housing: The Best Leading Indicator for the Economy - calculatedriskblog
• General Growth Properties Proposes Break-Up Plan to Exit Bankruptcy, With Brookfield's Help - online.wsj
• California One Step Closer To Insolvency After State Cancels $2 Billion General Obligation Bond Sale - zerohedge
• NAR Forecasts No Recovery for Commercial Real Estate This Year - seekingalpha
• Senate Approves $15 Billion Jobs Bill - online.wsj
• Freddie Mac: "Potential Large Wave of Foreclosures" - calculatedriskblog
• Persona Non Grata at CNBC - ritholtz
• Goldman Suspends Simon Property Group Rating - zerohedge
• Union Cannibalization: Laid-off CTA workers upset with unions, management - globaleconomicanalysis
• Weather and the February Employment Report - calculatedriskblog
• Where Did Employees from Collapsed Banks Go? - ritholtz
• The 21st Century Economic Breakdown - minyanville
• Five Myths About How to Create Jobs - bnet
• An Ominous Sign for Recovery? - fool
• General Growth Properties Proposes Break-Up Plan to Exit Bankruptcy, With Brookfield's Help - online.wsj
• California One Step Closer To Insolvency After State Cancels $2 Billion General Obligation Bond Sale - zerohedge
• NAR Forecasts No Recovery for Commercial Real Estate This Year - seekingalpha
• Senate Approves $15 Billion Jobs Bill - online.wsj
• Freddie Mac: "Potential Large Wave of Foreclosures" - calculatedriskblog
• Persona Non Grata at CNBC - ritholtz
• Goldman Suspends Simon Property Group Rating - zerohedge
• Union Cannibalization: Laid-off CTA workers upset with unions, management - globaleconomicanalysis
• Weather and the February Employment Report - calculatedriskblog
• Where Did Employees from Collapsed Banks Go? - ritholtz
• The 21st Century Economic Breakdown - minyanville
• Five Myths About How to Create Jobs - bnet
• An Ominous Sign for Recovery? - fool
Permalink posted by markw @ 6:06 AM
The Credit Union Way
Client loyalty and service are front and center at not-for-profits: While banks have long groused that credit unions (CUs) are nothing but banks that don't pay taxes, advisors and program managers who have worked in both types of institutions say that there's something profoundly different when clients aren't just customers, but owners.
"A bank is a profit-making institution answerable to its shareholders," says Pete Snyder of Snyder Consulting Services in Roseville, Calif. "The delivery model is generally dog-eat-dog. Banks would do well to try to encourage more of a service culture."
A number of advisors and program managers who made the switch from banks to CUs swear by the customer loyalty that a true service culture provides. Michael Gradl, a program manager at Redwood Credit Union in Santa Rosa, Calif., says, "The relationship with members is just incredibly compelling, and the internal support is also amazing, because the employees at a CU have a real drive to make a difference in the members' lives..."
BIC: The Credit Union Way
"A bank is a profit-making institution answerable to its shareholders," says Pete Snyder of Snyder Consulting Services in Roseville, Calif. "The delivery model is generally dog-eat-dog. Banks would do well to try to encourage more of a service culture."
A number of advisors and program managers who made the switch from banks to CUs swear by the customer loyalty that a true service culture provides. Michael Gradl, a program manager at Redwood Credit Union in Santa Rosa, Calif., says, "The relationship with members is just incredibly compelling, and the internal support is also amazing, because the employees at a CU have a real drive to make a difference in the members' lives..."
BIC: The Credit Union Way
Permalink posted by markw @ 5:55 AM
Insurers pan president's proposed tax on investment income
The American Council of Life Insurers today blasted a newly floated tax proposal on unearned income — part of a series of suggested changes to the Patient Protection and Affordable Care Act of 2009.
President Barack Obama on Thursday will present a series of changes to his health insurance reform package, including a 2.9% tax on income from interest, dividends, royalties, rents — and annuities.
Single taxpayers with more than $200,000 in income and married couples making more than $250,000 and who file jointly would be affected...
Investment News: Insurers pan president's proposed tax on investment income
President Barack Obama on Thursday will present a series of changes to his health insurance reform package, including a 2.9% tax on income from interest, dividends, royalties, rents — and annuities.
Single taxpayers with more than $200,000 in income and married couples making more than $250,000 and who file jointly would be affected...
Investment News: Insurers pan president's proposed tax on investment income
Permalink posted by markw @ 5:51 AM
Annuities can limit longevity risk, expert says
By integrating annuities into financial plans, advisers can take precautions against their clients’ outliving their assets, according to a retirement income planning expert.
Farrell Dolan, principal of Farrell Dolan Associates, yesterday led a presentation entitled “Income Strategy for Advisers,” at the Insured Retirement Institute’s annual marketing conference in New York. There, he presented what he dubbed “The Four Box Strategy of Income Planning,” a model that divides retirees’ expenses into essential and discretionary categories and then splits up the assets to tackle both needs...
Investment News: Annuities can limit longevity risk, expert says
Farrell Dolan, principal of Farrell Dolan Associates, yesterday led a presentation entitled “Income Strategy for Advisers,” at the Insured Retirement Institute’s annual marketing conference in New York. There, he presented what he dubbed “The Four Box Strategy of Income Planning,” a model that divides retirees’ expenses into essential and discretionary categories and then splits up the assets to tackle both needs...
Investment News: Annuities can limit longevity risk, expert says
Permalink posted by markw @ 5:35 AM
Annuities, Profits and the Fiduciary Standard
There’s a saying on Wall Street: “Structured products are never bought, only sold”. The same could be said of annuities.
Selling annuities is an extremely lucrative and virtually risk-free business, which is one of the reasons why insurance companies and some Wall Street firms are aggressively lobbying Congress not to require brokers and other purveyors of financial products to adhere to a so-called “fiduciary standard.” Under the proposed standard, brokers and insurance salesmen would be required to put their clients’ interests ahead of their own, likely forgoing high-commission annuities for other, more appropriate investments.
Not surprisingly, Morgan Stanley (MS) has voiced concerns that the fiduciary standard would cut into its business. Morgan Stanley has good reason to worry...
Seeking Alpha: Annuities, Profits and the Fiduciary Standard
Selling annuities is an extremely lucrative and virtually risk-free business, which is one of the reasons why insurance companies and some Wall Street firms are aggressively lobbying Congress not to require brokers and other purveyors of financial products to adhere to a so-called “fiduciary standard.” Under the proposed standard, brokers and insurance salesmen would be required to put their clients’ interests ahead of their own, likely forgoing high-commission annuities for other, more appropriate investments.
Not surprisingly, Morgan Stanley (MS) has voiced concerns that the fiduciary standard would cut into its business. Morgan Stanley has good reason to worry...
Seeking Alpha: Annuities, Profits and the Fiduciary Standard
Permalink posted by markw @ 5:34 AM
Physicians and Dentists Have Special Financial Planning Issues
Physicians and dentists are some of the busiest and "stressed out" professionals around. Some of this stress comes from not having enough time to deal with relatively complex financial planning issues – such as a greater need for asset protection, retirement planning and insurance. Special financial planning issues are especially pronounced for physicians and dentists who run their own practices and are not employees of a medical group.
Here are some of the key issues I work on with my physician and dentist clients to help them sleep better at night...
AltPress: Physicians and Dentists Have Special Financial Planning Issues
Here are some of the key issues I work on with my physician and dentist clients to help them sleep better at night...
AltPress: Physicians and Dentists Have Special Financial Planning Issues
Permalink posted by markw @ 4:49 AM
USAA Life Insurance gains new leadership
USAA Life Insurance Co. has named J. Eric Smith as the company’s new president... In his new role, Smith will oversee product development, strategic marketing and member services. Smith was most recently president of Allstate Financial Services LLC, the unit of Northbrook, Ill.-based Allstate Corp. (NYSE: ALL) that sells health insurance, annuities, mutual and securities...
BizJournals: USAA Life Insurance gains new leadership
BizJournals: USAA Life Insurance gains new leadership
Permalink posted by markw @ 4:49 AM
Wednesday, February 24, 2010
Econ Blast: 11.3M US Properties with Negative Equity; Lending Falls at Epic Pace; Can America Learn from Chile Before It's Too Late?
• Q4 Report: 11.3 Million U.S. Properties with Negative Equity - calculatedriskblog
• New home sales fall to a record low - Feb. 24, 2010 - money.cnn
• Headline of the Day: Falls at Epic Pace - ritholtz
• The $100 Trillion Problem: Can America Learn From Chile Before It's Too Late? - zerohedge
• What It's Like To Look For A Job These Days - businessinsider
• Obama's Tax-Credit Plans May Fail to Spur Small-Business Hiring - businessweek
• Money to Be Made Offloading Government Owned REO - seekingalpha
• Business and the Real Time Web - businesspundit
• Inspired Reader Stands Up To Union Mobs - globaleconomicanalysis
• Greenspan: U.S. recovery "extremely unbalanced" - finance.yahoo
• Mortgage Zombie Freddie Mac Reports Q4 Loss; Another $5 Billion In Taxpayer Money Out The Window To Support Fake Home Prices - zerohedge
• Economist Rogoff Who Predicted The U.S. Crisis And Predicts A European One, Now Predicts A China Collapse - businessinsider
• New home sales fall to a record low - Feb. 24, 2010 - money.cnn
• Headline of the Day: Falls at Epic Pace - ritholtz
• The $100 Trillion Problem: Can America Learn From Chile Before It's Too Late? - zerohedge
• What It's Like To Look For A Job These Days - businessinsider
• Obama's Tax-Credit Plans May Fail to Spur Small-Business Hiring - businessweek
• Money to Be Made Offloading Government Owned REO - seekingalpha
• Business and the Real Time Web - businesspundit
• Inspired Reader Stands Up To Union Mobs - globaleconomicanalysis
• Greenspan: U.S. recovery "extremely unbalanced" - finance.yahoo
• Mortgage Zombie Freddie Mac Reports Q4 Loss; Another $5 Billion In Taxpayer Money Out The Window To Support Fake Home Prices - zerohedge
• Economist Rogoff Who Predicted The U.S. Crisis And Predicts A European One, Now Predicts A China Collapse - businessinsider
Permalink posted by markw @ 1:36 PM
Advisor Newsblast: Questions surround Fidelity's stance on adviser-sold 401(k) platform; Watchdog slams Finra's 'abysmal' record; Registered reps...
• The Battle for 401(k) Accounts - investmentadvisor
• Watchdog slams Finra's 'abysmal' record - investmentnews
• Goldman Fleeces the Public, Take Two - seekingalpha
• Inside the mind of an investment banker: Greece, Goldman and derivatives - creditwritedowns
• Registered reps could lose independence and be forced onto payroll - ifawebnews
• Combo product spotlight - producersweb
• Greenspan: Worst Financial Crisis EVER, INCLUDING the Great Depression - zerohedge
• Social Media: The New Career Norm - cnbc
• Four New Job-Search Trends - forbes
• Questions surround Fidelity's stance on its adviser-sold 401(k) platform - investmentnews
• Make the best of a bad 401(k) - Feb. 24, 2010 - money.cnn
• Watchdog slams Finra's 'abysmal' record - investmentnews
• Goldman Fleeces the Public, Take Two - seekingalpha
• Inside the mind of an investment banker: Greece, Goldman and derivatives - creditwritedowns
• Registered reps could lose independence and be forced onto payroll - ifawebnews
• Combo product spotlight - producersweb
• Greenspan: Worst Financial Crisis EVER, INCLUDING the Great Depression - zerohedge
• Social Media: The New Career Norm - cnbc
• Four New Job-Search Trends - forbes
• Questions surround Fidelity's stance on its adviser-sold 401(k) platform - investmentnews
• Make the best of a bad 401(k) - Feb. 24, 2010 - money.cnn
Permalink posted by markw @ 8:56 AM
Will regulators kill off fledgling secondary market for death benefits?
State insurance regulators Monday voted in favor of a proposal that would allow carriers to terminate an annuity living or death benefit if a client sold the contract over the secondary market.
The management committee and full commission of the Interstate Insurance Product Regulation Commission, a group that's affiliated with the National Association of Insurance Commissioners, voted in favor of a uniform set of additional standards for guaranteed living and death benefits that are attached to individual deferred annuities...
Investment News: Will regulators kill off fledgling secondary market for death benefits?
The management committee and full commission of the Interstate Insurance Product Regulation Commission, a group that's affiliated with the National Association of Insurance Commissioners, voted in favor of a uniform set of additional standards for guaranteed living and death benefits that are attached to individual deferred annuities...
Investment News: Will regulators kill off fledgling secondary market for death benefits?
Permalink posted by markw @ 4:47 AM
Brokers push to put annuities into planning framework
In an attempt to pull further away from the transactional nature of annuity sales, brokerage executives are using tools to help their advisers fit product sales into a planning context.
“It’s a process — retirement income — and more detailed conversation is needed,” Ed O’Connor, managing director of UBS Financial Services Inc., said during a panel discussion Monday “Retirement income – Service or Product?” at the Insured Retirement Institute’s annual marketing conference in New York. “The conversation and the planning tools help you parse out what’s most important to clients...”
Investment News: Brokers push to put annuities into planning framework
“It’s a process — retirement income — and more detailed conversation is needed,” Ed O’Connor, managing director of UBS Financial Services Inc., said during a panel discussion Monday “Retirement income – Service or Product?” at the Insured Retirement Institute’s annual marketing conference in New York. “The conversation and the planning tools help you parse out what’s most important to clients...”
Investment News: Brokers push to put annuities into planning framework
Permalink posted by markw @ 4:46 AM
Tuesday, February 23, 2010
Advisor Briefing; Arizona Auto Insurance Customers to Pay Less; llstate is Dropping Mobile Home Insurance Along S.C. Coast; Credit Card Law Changes...
• Arizona Auto Insurance Customers to Pay Less - insurancenewsnet
• Allstate is Dropping Mobile Home Insurance Along S.C. Coast - insurancenewsnet
• Distortionary Effects of Regulations and the Law of Unintended Consequences: Annual Fees Are Back - mjperry
• Credit Card Law Changes: What You Need to Know - forbes
• The Best Investing Ideas in Health Care - fool
• Two Virginia insurance agents accused of selling securities illegally - ifawebnews
• Real or Ridiculous? The Hot Waitress Index - minyanville
• Allstate is Dropping Mobile Home Insurance Along S.C. Coast - insurancenewsnet
• Distortionary Effects of Regulations and the Law of Unintended Consequences: Annual Fees Are Back - mjperry
• Credit Card Law Changes: What You Need to Know - forbes
• The Best Investing Ideas in Health Care - fool
• Two Virginia insurance agents accused of selling securities illegally - ifawebnews
• Real or Ridiculous? The Hot Waitress Index - minyanville
Permalink posted by markw @ 5:56 AM
Econ Briefing: Nearly 20% of US Workers Underemployed; Is housing on the mend for real?; Fed's Yellen: Economic Outlook and Monetary Policy...
• Nearly 20% of US Workers Underemployed in Jan - cnbc
• The Buzz: Is housing on the mend for real? - Feb. 22, 2010 - money.cnn
• Short Sales of Real Estate Increase Sharply - seekingalpha
• Fed's Yellen: Economic Outlook and Monetary Policy - calculatedriskblog
• The Vicious Competitive Intelligence/Counterintelligence War At CNBC - zerohedge
• Are Earnings Normalizing? At What Level? - ritholtz
• Moody's: CRE Prices increase 4.1% in December 2009 - calculatedriskblog
• Norris: Weather to Impact February Job Numbers - calculatedriskblog
• Quantifying The Market's Response To Discount Rate Changes - zerohedge
• Secret AIG Document Shows Goldman Sachs Minted Most Toxic CDOs - bloomberg
• Robert J. Barro: The Stimulus Evidence One Year On - online.wsj
• $8 Billion In 30 Year TIPS Closes At 2.229%, Big Tail To WI Bid At 2.195% - zerohedge
• The Deathbed of Keynesian Economics - maxkeiser
• Presidential Spending: Expenditures by Year - ritholtz
• Death Of U.S. Capitalism: The Final 10 Scenes - foxbusiness
• Commercial Property Crunch - seekingalpha
• The Buzz: Is housing on the mend for real? - Feb. 22, 2010 - money.cnn
• Short Sales of Real Estate Increase Sharply - seekingalpha
• Fed's Yellen: Economic Outlook and Monetary Policy - calculatedriskblog
• The Vicious Competitive Intelligence/Counterintelligence War At CNBC - zerohedge
• Are Earnings Normalizing? At What Level? - ritholtz
• Moody's: CRE Prices increase 4.1% in December 2009 - calculatedriskblog
• Norris: Weather to Impact February Job Numbers - calculatedriskblog
• Quantifying The Market's Response To Discount Rate Changes - zerohedge
• Secret AIG Document Shows Goldman Sachs Minted Most Toxic CDOs - bloomberg
• Robert J. Barro: The Stimulus Evidence One Year On - online.wsj
• $8 Billion In 30 Year TIPS Closes At 2.229%, Big Tail To WI Bid At 2.195% - zerohedge
• The Deathbed of Keynesian Economics - maxkeiser
• Presidential Spending: Expenditures by Year - ritholtz
• Death Of U.S. Capitalism: The Final 10 Scenes - foxbusiness
• Commercial Property Crunch - seekingalpha
Permalink posted by markw @ 5:54 AM
International Briefing: Goldman Issues Press Release On Greek Swaps; IMF Official Is Now In Athens; Trillion euro showdowns...
• Goldman Issues Press Release On Greek Swaps, Pours More Gas On PR Fire - zerohedge
• Japanese government has negative net asset value - creditwritedowns
• IMF Official Is Now In Athens Aiding EU Team On Greek Debt Crisis - zerohedge
• European Stocks to Open Higher - online.wsj
• World Gold Council Releases Q4 And 2009 Gold Demand Trends Report - zerohedge
• Trillion euro showdowns, sovereign defaults and dirty wars - maxkeiser
• Lessons from Japan on sovereign default and balance sheet recessions - creditwritedowns
• Japanese government has negative net asset value - creditwritedowns
• IMF Official Is Now In Athens Aiding EU Team On Greek Debt Crisis - zerohedge
• European Stocks to Open Higher - online.wsj
• World Gold Council Releases Q4 And 2009 Gold Demand Trends Report - zerohedge
• Trillion euro showdowns, sovereign defaults and dirty wars - maxkeiser
• Lessons from Japan on sovereign default and balance sheet recessions - creditwritedowns
Permalink posted by markw @ 5:53 AM
Colo. Family Sues Cryogenics Group
A Colorado family is fighting with a nonprofit cryogenics organization over custody of the head of a woman who died earlier this month and a trust she established, the Associated Press reports.
Mary Robbins, who died of cancer February 9, signed documents in 2006 giving Alcor Life Extension Foundation, in Scottsdale, Ariz., the right to preserve her head and brain using extreme cold in hopes that future technology might restore her health. The agreement included a $50,000 annuity to cover preservation costs...
Philanthropy: Colo. Family Sues Cryogenics Group
Mary Robbins, who died of cancer February 9, signed documents in 2006 giving Alcor Life Extension Foundation, in Scottsdale, Ariz., the right to preserve her head and brain using extreme cold in hopes that future technology might restore her health. The agreement included a $50,000 annuity to cover preservation costs...
Philanthropy: Colo. Family Sues Cryogenics Group
Permalink posted by markw @ 4:42 AM
Monday, February 22, 2010
Insurer Reported Toyota Claims in 2004, Reuters Says
State Farm Life Insurance Co., the largest U.S. auto insurer, alerted regulators in 2004 about a trend of accidents involving Toyota Motor Corp.’s cars, three years earlier than it initially said, Reuters reported, citing the company.
The insurer said earlier this month it had contacted the National Highway Traffic Safety Administration in late 2007, Reuters said. After reviewing its records, the insurer found that it contacted safety regulators for the first time in 2004, according to the report, which cited an e-mail from State Farm spokesman Phil Supple...
Business Week: Insurer Reported Toyota Claims in 2004, Reuters Says
The insurer said earlier this month it had contacted the National Highway Traffic Safety Administration in late 2007, Reuters said. After reviewing its records, the insurer found that it contacted safety regulators for the first time in 2004, according to the report, which cited an e-mail from State Farm spokesman Phil Supple...
Business Week: Insurer Reported Toyota Claims in 2004, Reuters Says
Permalink posted by markw @ 5:47 AM
Adviser Briefing: Fund companies prepping bond investors for higher rates; VA asset leaders; High-quality junk bonds aren't junk at all...
• Fund companies are prepping bond investors for rising rates - investmentnews
• Variable annuities asset leaders - investmentnews
• High-quality junk bonds aren't junk at all - investmentnews
• Fixed-annuity sales down in 4Q and full-year 2009 - investmentnews
• Finra looks to fill holes in BrokerCheck net - investmentnews
• Married Filing Jointly, or Separate? How to Decide - foxbusiness
• Chapin, Kaplan Return to Merrill Lynch - online.wsj
• Securitization Concentrated Financial Risks - ritholtz
• Sunday Funnies 2010-02-21: Lighter Side of the News - globaleconomicanalysis
• Chase Cancelling Automatic Overdraft Protection - ritholtz
• Variable annuities asset leaders - investmentnews
• High-quality junk bonds aren't junk at all - investmentnews
• Fixed-annuity sales down in 4Q and full-year 2009 - investmentnews
• Finra looks to fill holes in BrokerCheck net - investmentnews
• Married Filing Jointly, or Separate? How to Decide - foxbusiness
• Chapin, Kaplan Return to Merrill Lynch - online.wsj
• Securitization Concentrated Financial Risks - ritholtz
• Sunday Funnies 2010-02-21: Lighter Side of the News - globaleconomicanalysis
• Chase Cancelling Automatic Overdraft Protection - ritholtz
Permalink posted by markw @ 5:42 AM
International Briefing: Soros on the Doomed Euro; Debt Haunts Europe; Carbon Tax Could Save the World; Italy a Bigger Threat Than Greece...
• Soros: Even if You Save Greece, The Euro Is Doomed - businessinsider
• Debt Deals Haunt Europe; Investors Re-Examine Complex Financial Maneuvers Used to Hide Borrowings - online.wsj
• A Simple Carbon Tax Would Cost Only $2.50 A Gallon And Could Save The World - businessinsider
• Italy a Bigger Threat to EU than Greece; Italian Derivatives Draw Scrutiny... - globaleconomicanalysis
• Fonciere Des Regions Reports Loss as Real-Estate Values Fall - businessweek
• Greek (Dis)Information Update: No Greek Bond Offering This Week - zerohedge
• Recreating Mercantilism In Europe, Europe's Deflationary Torture, And The L-Shaped Recession - zerohedge
• Sun Hung Kai Wins Hong Kong's First Land Auction of the Year - businessweek
• Climate Change and Open Science - online.wsj
• Oil rises above $80 for first time in over a month Futures Movers - marketwatch
• The Swedish banking crisis response or the bailout hustle? - creditwritedowns
• Greece Gives EU 'Partial' Response on Swaps - online.wsj
• Will AIG Force The US To Bail Out Greece? - businessinsider
• Futures Traders Piling In To Crush The Euro, Becoming More Bearish Than Ever - businessinsider
• Toyota Bragged About Saving $100 Million With 2007 Floormat Recall - consumerist
• The Depression is Already Here for Some Members of Europe, and It Just Might Be Contagious! - zerohedge
• Asian shares surge, as exporters boost Japan - marketwatch
• Japan rallies as exporters, shippers advance - marketwatch
• Thailand Economy Exits Yearlong Recession on Exports - businessweek
• Debt Deals Haunt Europe; Investors Re-Examine Complex Financial Maneuvers Used to Hide Borrowings - online.wsj
• A Simple Carbon Tax Would Cost Only $2.50 A Gallon And Could Save The World - businessinsider
• Italy a Bigger Threat to EU than Greece; Italian Derivatives Draw Scrutiny... - globaleconomicanalysis
• Fonciere Des Regions Reports Loss as Real-Estate Values Fall - businessweek
• Greek (Dis)Information Update: No Greek Bond Offering This Week - zerohedge
• Recreating Mercantilism In Europe, Europe's Deflationary Torture, And The L-Shaped Recession - zerohedge
• Sun Hung Kai Wins Hong Kong's First Land Auction of the Year - businessweek
• Climate Change and Open Science - online.wsj
• Oil rises above $80 for first time in over a month Futures Movers - marketwatch
• The Swedish banking crisis response or the bailout hustle? - creditwritedowns
• Greece Gives EU 'Partial' Response on Swaps - online.wsj
• Will AIG Force The US To Bail Out Greece? - businessinsider
• Futures Traders Piling In To Crush The Euro, Becoming More Bearish Than Ever - businessinsider
• Toyota Bragged About Saving $100 Million With 2007 Floormat Recall - consumerist
• The Depression is Already Here for Some Members of Europe, and It Just Might Be Contagious! - zerohedge
• Asian shares surge, as exporters boost Japan - marketwatch
• Japan rallies as exporters, shippers advance - marketwatch
• Thailand Economy Exits Yearlong Recession on Exports - businessweek
Permalink posted by markw @ 5:38 AM
Econ Briefing: The New Poor; Blocking Health Insurance Rate Hikes; Hiding from the FDIC; If you thought yield curves were high now...
• NY Times Goodman: The New Poor - calculatedriskblog
• Obama Proposal To Have Federal Government Block Health Insurance Rate Hikes - zerohedge
• Chief Lending Officer Pleads Guilty to Concealing Material Facts from FDIC - calculatedriskblog
• Guest Post: Bailout Or No Bailout - That's The Question - zerohedge
• Navigating the Jobs Crisis: Time to Try Government as Employer of Last Resort - ritholtz
• Weird, or just different? - ritholtz
• More Endorsements for Volcker Rule - ritholtz
• Economists say U.S. recovery is firmly on track - Feb. 22, 2010 - money.cnn
• Group Mentality: The Economies of Scale - smartmoney
• If You Thought The Yield Curve Was Steep Now, Then You Haven't Seen Anything Yet - businessinsider
• Forget Europe And China, All Eyes Are Turning To Crumbling Treasuries - businessinsider
• The Future Of Enterprise Software - forbes
• Obama Proposal To Have Federal Government Block Health Insurance Rate Hikes - zerohedge
• Chief Lending Officer Pleads Guilty to Concealing Material Facts from FDIC - calculatedriskblog
• Guest Post: Bailout Or No Bailout - That's The Question - zerohedge
• Navigating the Jobs Crisis: Time to Try Government as Employer of Last Resort - ritholtz
• Weird, or just different? - ritholtz
• More Endorsements for Volcker Rule - ritholtz
• Economists say U.S. recovery is firmly on track - Feb. 22, 2010 - money.cnn
• Group Mentality: The Economies of Scale - smartmoney
• If You Thought The Yield Curve Was Steep Now, Then You Haven't Seen Anything Yet - businessinsider
• Forget Europe And China, All Eyes Are Turning To Crumbling Treasuries - businessinsider
• The Future Of Enterprise Software - forbes
Permalink posted by markw @ 5:37 AM
The Trillion Dollar Gap: Underfunded State Retirement Systems and the Road to Reform
$1 trillion. That’s the gap at the end of fiscal year 2008 between the $2.35 trillion states had set aside to pay for employees’ retirement benefits and the $3.35 trillion price tag of those promises.
Why does it matter? Because every dollar spent to reduce the unfunded retirement liability cannot be used for education, public safety and other needs. Ultimately, taxpayers could face higher taxes or cuts in essential public services.
A new report from the Pew Center on the States, The Trillion Dollar Gap: Underfunded State Retirement Systems and the Road to Reform, shows why states must take strong action now—or taxpayers will suffer later...
Pew: The Trillion Dollar Gap: Underfunded State Retirement Systems and the Road to Reform
Why does it matter? Because every dollar spent to reduce the unfunded retirement liability cannot be used for education, public safety and other needs. Ultimately, taxpayers could face higher taxes or cuts in essential public services.
A new report from the Pew Center on the States, The Trillion Dollar Gap: Underfunded State Retirement Systems and the Road to Reform, shows why states must take strong action now—or taxpayers will suffer later...
Pew: The Trillion Dollar Gap: Underfunded State Retirement Systems and the Road to Reform
Permalink posted by markw @ 5:24 AM
Old Mutual May Sell U.S. Life Insurance Business, FT Reports
Old Mutual Plc has hired JPMorgan Chase & Co. to consider a sale of its U.S. life insurance business and has found several possible buyers, the Financial Times said, citing unidentified people familiar with the situation.
Unrealized losses at the U.S. unit narrowed to $600 million at Sept. 30, 2009, from $2.3 billion as of Dec. 31, 2008, and the company said in November it expected to inject up to $300 million to boost its capital, the newspaper reported...
Bloomberg: Old Mutual May Sell U.S. Life Insurance Business, FT Reports
Unrealized losses at the U.S. unit narrowed to $600 million at Sept. 30, 2009, from $2.3 billion as of Dec. 31, 2008, and the company said in November it expected to inject up to $300 million to boost its capital, the newspaper reported...
Bloomberg: Old Mutual May Sell U.S. Life Insurance Business, FT Reports
Permalink posted by markw @ 5:19 AM
Savings Game: Consumer groups push 'fiduciary standard' for anyone giving investment advice
On the Web site of the brokerage firm Edward Jones, under the information and accolades about the company and its investment insights, you'll find the words "Revenue Sharing Information" near the left-hand corner of the home page.
If you click on the link to related pages and wade through the legalese, you'll learn that "product partners" paid Edward Jones $156 million in 2008, half the firm's profit for the year. (No figure had been posted for 2009 when I looked.)
"Product partners" are companies that pay Edward Jones when it sells their products, including mutual funds, college savings plans and annuities that account for virtually all of Edward Jones' sales in those areas. These payments, called revenue sharing, create a "potential conflict of interest" for Edward Jones and its financial advisers, the firm acknowledges on its Web site.
In plain English: When Edward Jones brokers recommend a product, you can't be sure it's because it's best for you or best for them...
Salt-Lake Tribune: Savings Game: Consumer groups push 'fiduciary standard' for anyone giving investment advice
If you click on the link to related pages and wade through the legalese, you'll learn that "product partners" paid Edward Jones $156 million in 2008, half the firm's profit for the year. (No figure had been posted for 2009 when I looked.)
"Product partners" are companies that pay Edward Jones when it sells their products, including mutual funds, college savings plans and annuities that account for virtually all of Edward Jones' sales in those areas. These payments, called revenue sharing, create a "potential conflict of interest" for Edward Jones and its financial advisers, the firm acknowledges on its Web site.
In plain English: When Edward Jones brokers recommend a product, you can't be sure it's because it's best for you or best for them...
Salt-Lake Tribune: Savings Game: Consumer groups push 'fiduciary standard' for anyone giving investment advice
Permalink posted by markw @ 5:15 AM
Jury awards $272,000 to Delray Beach widow
Verdict: Financial adviser took advantage of woman in annuity deal
A financial planner has been ordered to pay a Delray Beach widow $272,000 for exploiting his relationship with her for his own financial gain... Following a seven-day trial, a civil jury on Feb. 10 found that Rafael Golan, owner of RS Golan Consulting Services in Delray Beach, breached his fiduciary duty and took advantage of Joyce Pogoda after her 79-year-old husband's death in 2006, according to Pogoda's attorneys, Cristina Pierson and John Hargrove.
It's the first time a Florida jury has heard a case under a state law addressing the exploitation of a vulnerable adult...
Sun-Sentinel: Jury awards $272,000 to Delray Beach widow
A financial planner has been ordered to pay a Delray Beach widow $272,000 for exploiting his relationship with her for his own financial gain... Following a seven-day trial, a civil jury on Feb. 10 found that Rafael Golan, owner of RS Golan Consulting Services in Delray Beach, breached his fiduciary duty and took advantage of Joyce Pogoda after her 79-year-old husband's death in 2006, according to Pogoda's attorneys, Cristina Pierson and John Hargrove.
It's the first time a Florida jury has heard a case under a state law addressing the exploitation of a vulnerable adult...
Sun-Sentinel: Jury awards $272,000 to Delray Beach widow
Permalink posted by markw @ 5:14 AM
Friday, February 19, 2010
Econ Briefing: Jobless Claims, Inflation Jump; How States Cope; Foreclosure Stoppage Plans Have Failed; Elizabeth Warren on CRE...
• Jobless Claims, Inflation Jump as Economy Wobbles - cnbc
• How States Cope: Washington Medicaid facing additional cuts: What's next for recipients? - insurancenewsnet
• Taibbi: "Goldman Raped The Taxpayer, And Raped Their Clients" - zerohedge
• The Plan to Stop Foreclosures Has Failed - smartmoney
• Fed bumps up rate banks pay for emergency loans - finance.yahoo
• Taibbi: 'The Best 18 Months of Grifting This Country Has Ever Seen' - ritholtz
• Heat On Fed Picks Up As Darrell Issa Demands Full Production Of All AIG-Related Records - zerohedge
• Elizabeth Warren on CRE - calculatedriskblog
• $1.5 billion in housing help for unemployed, underwater - Feb. 19, 2010 - money.cnn
• Unsustainable Spending Trends in Graphical Form; Monthly Treasury Statement February 2010 - globaleconomicanalysis
• How States Cope: Washington Medicaid facing additional cuts: What's next for recipients? - insurancenewsnet
• Taibbi: "Goldman Raped The Taxpayer, And Raped Their Clients" - zerohedge
• The Plan to Stop Foreclosures Has Failed - smartmoney
• Fed bumps up rate banks pay for emergency loans - finance.yahoo
• Taibbi: 'The Best 18 Months of Grifting This Country Has Ever Seen' - ritholtz
• Heat On Fed Picks Up As Darrell Issa Demands Full Production Of All AIG-Related Records - zerohedge
• Elizabeth Warren on CRE - calculatedriskblog
• $1.5 billion in housing help for unemployed, underwater - Feb. 19, 2010 - money.cnn
• Unsustainable Spending Trends in Graphical Form; Monthly Treasury Statement February 2010 - globaleconomicanalysis
Permalink posted by markw @ 5:19 AM
Advisor Briefing: Manulife Wellness, Top 400 Taxpayers Paid 2% of All Taxes, White House OMB and New Taxes
• Health Insurance Companies Rank #88 by Industry Profit Margin, Earning $100-200 on Avg. per Policy - mjperry
• Colo. senator leads new push to include public option in health reform - ifawebnews
• Top 400 Taxpayers Paid 2% of All Income Taxes - mjperry
• Court rulings affirm mandated health insurance is constitutional - insurancenewsnet
• Manulife Financial takes the next step in promoting employee wellness - insurancenewsnet
• Massachusetts AG Settles With Five Auto Insurers Over At-Fault Reporting - insurancenewsnet
• White House's OMB Seems to Remove All Doubt: Sub-$250,000 Tax Spree To Commence - zerohedge
• Colo. senator leads new push to include public option in health reform - ifawebnews
• Top 400 Taxpayers Paid 2% of All Income Taxes - mjperry
• Court rulings affirm mandated health insurance is constitutional - insurancenewsnet
• Manulife Financial takes the next step in promoting employee wellness - insurancenewsnet
• Massachusetts AG Settles With Five Auto Insurers Over At-Fault Reporting - insurancenewsnet
• White House's OMB Seems to Remove All Doubt: Sub-$250,000 Tax Spree To Commence - zerohedge
Permalink posted by markw @ 5:17 AM
Thursday, February 18, 2010
International Briefing: Credit Default Swaps Now Deteriorating Fastest For Europe; IMF Gold Sale; Greece Says Its Not Seeking EU Taxpayers' Money...
• Credit Default Swaps Now Deteriorating Fastest For Europe... And The U.S. - businessinsider
• AIG to keep $500B in controversial derivatives - money.cnn
• IMF Gold Sales v. the Alchemy of Gold Futures: What's the Impact on Gold Prices? - zerohedge
• Industrial Production, Capacity Utilization Increase in January - calculatedriskblog
• Why Agency Mortgage Buyouts Will Not Prove To Be The Fed's MBS Purchasing Exit Panacea - zerohedge
• Greece Says Not seeking EU Taxpayers' Money - foxbusiness
• Asian Currencies Weaken on Greece Concerns, Singapore Economy - businessweek
• AIG to keep $500B in controversial derivatives - money.cnn
• IMF Gold Sales v. the Alchemy of Gold Futures: What's the Impact on Gold Prices? - zerohedge
• Industrial Production, Capacity Utilization Increase in January - calculatedriskblog
• Why Agency Mortgage Buyouts Will Not Prove To Be The Fed's MBS Purchasing Exit Panacea - zerohedge
• Greece Says Not seeking EU Taxpayers' Money - foxbusiness
• Asian Currencies Weaken on Greece Concerns, Singapore Economy - businessweek
Permalink posted by markw @ 6:33 AM
Seven Factors Influencing Auto-Insurance Rates
The Insurance Information Institute, a trade group for the insurance industry, said the average driver pays about $850 a year in insurance. Your bill can be influenced by several factors...
INN: Seven Factors Influencing Auto-Insurance Rates
INN: Seven Factors Influencing Auto-Insurance Rates
Permalink posted by markw @ 6:31 AM
Econ Briefing: Second Leg of Credit Crisis; Housing Affordability; Mystery of Chinese Treasury Holdings; FOMC Minutes...
• Is The Second Leg Of The Credit Crisis Starting? - ritholtz
• Housing affordability is near 18-year high - money.cnn
• Economy Grinds To Halt As Nation Realizes Money Is An Illusion - ritholtz
• Small Reactor Powers Nuclear Industry - online.wsj
• The Mystery Of Chinese Treasury Holdings - zerohedge
• Federal Reserve Declares Recession Over - ritholtz
• Housing Starts, Vacant Units and the Unemployment Rate - calculatedriskblog
• HAMP: 116,000 Permanent Mods, Over 1,000 Permanent Mods Cancelled - calculatedriskblog
• FOMC Minutes: Expect "slow improvement in the labor market" - calculatedriskblog
• PEW Study Shows Trillion Dollar State Pension Gap; Can Anything Be Done? - globaleconomicanalysis
• A Quick Look at Household Balance Sheets - ritholtz
• Coming Soon: Chapter 9 Municipal Bankruptcies - ritholtz
• Deleveraging Though... Deflation? Has Ending QE Been The Ulterior Motive All Along? Andrew Smithers Thinks So - zerohedge
• City Turns Down $2.5 Million Stimulus - globaleconomicanalysis
• Housing affordability is near 18-year high - money.cnn
• Economy Grinds To Halt As Nation Realizes Money Is An Illusion - ritholtz
• Small Reactor Powers Nuclear Industry - online.wsj
• The Mystery Of Chinese Treasury Holdings - zerohedge
• Federal Reserve Declares Recession Over - ritholtz
• Housing Starts, Vacant Units and the Unemployment Rate - calculatedriskblog
• HAMP: 116,000 Permanent Mods, Over 1,000 Permanent Mods Cancelled - calculatedriskblog
• FOMC Minutes: Expect "slow improvement in the labor market" - calculatedriskblog
• PEW Study Shows Trillion Dollar State Pension Gap; Can Anything Be Done? - globaleconomicanalysis
• A Quick Look at Household Balance Sheets - ritholtz
• Coming Soon: Chapter 9 Municipal Bankruptcies - ritholtz
• Deleveraging Though... Deflation? Has Ending QE Been The Ulterior Motive All Along? Andrew Smithers Thinks So - zerohedge
• City Turns Down $2.5 Million Stimulus - globaleconomicanalysis
Permalink posted by markw @ 6:29 AM
Advisor Briefing: Advisers full speed ahead; Systemic Risk Council; Finra looks to fill holes at BrokerCheck.net; Humana to Cut 1,500...
• Advisers on the advisory biz: Full speed ahead this year - investmentnews
• Report: Treasury Secretary to Chair Systemic Risk Council - calculatedriskblog
• Huntington Bank to Ease Credit to Small Businesses - businessweek
• Hewlett-Packard Earnings: Hewlett-Packard Earnings, Revenue Rise and Top Forecasts - cnbc
• Why mutual fund companies are losing the name game - investmentnews
• Finra looks to fill holes in BrokerCheck net - investmentnews
• Kite Realty Group Trust Reports Fourth Quarter and Full Year 2009 Results - marketwatch
• The iPad Might Destroy the New York Times (NYT) - fool
• The 150%-return investment vehicle: Your 401(k) - investmentnews
• Health insurer Humana to cut 2,500 jobs this year - ifawebnews
• Report: Treasury Secretary to Chair Systemic Risk Council - calculatedriskblog
• Huntington Bank to Ease Credit to Small Businesses - businessweek
• Hewlett-Packard Earnings: Hewlett-Packard Earnings, Revenue Rise and Top Forecasts - cnbc
• Why mutual fund companies are losing the name game - investmentnews
• Finra looks to fill holes in BrokerCheck net - investmentnews
• Kite Realty Group Trust Reports Fourth Quarter and Full Year 2009 Results - marketwatch
• The iPad Might Destroy the New York Times (NYT) - fool
• The 150%-return investment vehicle: Your 401(k) - investmentnews
• Health insurer Humana to cut 2,500 jobs this year - ifawebnews
Permalink posted by markw @ 6:26 AM
Fixed annuity sales slid in '09
Fixed annuity sales slid in the fourth quarter of 2009 — and dropped off slightly for the full year... All told, fixed annuity sales last year topped $105 billion, according to data from Beacon Research Publications Inc. and the Insured Retirement Institute. That tally is just 2% below the record high reported in 2008.
For the final quarter of 2009, fixed annuity sales totaled $20.4 billion, down 8% from the previous quarter...
Investment News: Fixed annuity sales slid in '09
For the final quarter of 2009, fixed annuity sales totaled $20.4 billion, down 8% from the previous quarter...
Investment News: Fixed annuity sales slid in '09
Permalink posted by markw @ 4:48 AM
RI Lawyer Solicits Terminally Ill To Sell Annuities
And now, another strange story from the biggest little state in union, Rhode Island. Yesterday, the Wall Street Journal reported that a RI estate attorney had solicited terminally ill patients to "serve as paid fronts" for purchases of variable annuities. The article caught my eye because I used to live in RI; the case involves a well-known charitable local attorney; and I've been an outspoken critic of variable annuities for some time...
Now back to our story. Attorney Joseph Caramadre, considered an "insurance expert" beat the insurance companies at their own game. For years, insurers have been hawking variable annuities (VAs) as a perfect mix of tax-deferred investing and insurance. While the investments inside VAs look a lot like mutual funds, they have a feature that allows heirs of annuity owners the ability to receive the initial investment back as a death benefit, should the owner of the contract die...
CBS News: RI Lawyer Solicits Terminally Ill To Sell Annuities
Now back to our story. Attorney Joseph Caramadre, considered an "insurance expert" beat the insurance companies at their own game. For years, insurers have been hawking variable annuities (VAs) as a perfect mix of tax-deferred investing and insurance. While the investments inside VAs look a lot like mutual funds, they have a feature that allows heirs of annuity owners the ability to receive the initial investment back as a death benefit, should the owner of the contract die...
CBS News: RI Lawyer Solicits Terminally Ill To Sell Annuities
Permalink posted by markw @ 4:47 AM
Wednesday, February 17, 2010
Afternoon Briefs: Deficit Hawks Want New Recession; Secret to a Happy Retirement; CARD Act; Ten steps to a strong marketing plan...
• Deficit Hawks Want New (or double dip) Recession - ritholtz
• Home construction rebounds in January; permits increase 2.8% - Feb. 17, 2010 - money.cnn
• U.S. Housing Starts Rise to Highest in Six Months - online.wsj
• Secret to a happy retirement? Friends. - money.cnn
• U.S. Jan. housing starts up 2.8% to 591,000 - marketwatch
• CARD Act: Who's With It, Who's Not - consumerist
• An Illogical Attack on the GOP - gregmankiw
• ICI, kaChing in smack-down over mutual fund fees - investmentnews
• 9 Charts That Show Why Amazon Investors Have Nothing To Worry About - businessinsider
• Treasurys ease on improved housing data - Feb. 17, 2010 - money.cnn
• Ban on contingent commissions lifted for Aon, Marsh and Willis - ifawebnews
• How Can Obama Be Taking A Stimulus Victory Lap, When We Don't Even Know Where The Money Went? - businessinsider
• New York Times caught copying financial blogs - creditwritedowns
• Turf War at the New York Times: Who Will Control the iPad? - businessinsider
• Pressure Builds On NBC To Explain Why It's Ruining The Olympics - businessinsider
• Tragedy of the Senate -- How will it end? Darrell Delamaide's Political Capital - marketwatch
• CastleOak Securities Flips Switch on Fidessa Trading Platform - wallstreetandtech
• Ten steps to a strong marketing plan in 2010 - producersweb
• Tim Geithner's and Jamie Dimon's Lies Exposed - minyanville
• Judge Rakoff: IRS letter about payment to NASD members will remain sealed - investmentnews
• CNBC's Olick: Treasury Concerned about Next Wave of Foreclosures - calculatedriskblog
• Top 9 Scams Of 2009 - consumerist
• Home construction rebounds in January; permits increase 2.8% - Feb. 17, 2010 - money.cnn
• U.S. Housing Starts Rise to Highest in Six Months - online.wsj
• Secret to a happy retirement? Friends. - money.cnn
• U.S. Jan. housing starts up 2.8% to 591,000 - marketwatch
• CARD Act: Who's With It, Who's Not - consumerist
• An Illogical Attack on the GOP - gregmankiw
• ICI, kaChing in smack-down over mutual fund fees - investmentnews
• 9 Charts That Show Why Amazon Investors Have Nothing To Worry About - businessinsider
• Treasurys ease on improved housing data - Feb. 17, 2010 - money.cnn
• Ban on contingent commissions lifted for Aon, Marsh and Willis - ifawebnews
• How Can Obama Be Taking A Stimulus Victory Lap, When We Don't Even Know Where The Money Went? - businessinsider
• New York Times caught copying financial blogs - creditwritedowns
• Turf War at the New York Times: Who Will Control the iPad? - businessinsider
• Pressure Builds On NBC To Explain Why It's Ruining The Olympics - businessinsider
• Tragedy of the Senate -- How will it end? Darrell Delamaide's Political Capital - marketwatch
• CastleOak Securities Flips Switch on Fidessa Trading Platform - wallstreetandtech
• Ten steps to a strong marketing plan in 2010 - producersweb
• Tim Geithner's and Jamie Dimon's Lies Exposed - minyanville
• Judge Rakoff: IRS letter about payment to NASD members will remain sealed - investmentnews
• CNBC's Olick: Treasury Concerned about Next Wave of Foreclosures - calculatedriskblog
• Top 9 Scams Of 2009 - consumerist
Permalink posted by markw @ 1:22 PM
Advisor Briefing: Johnson Amendment; Cash4Gold; S&P500 Swing Analog; Claims Adjusters Busy; Why Affluent Clients Dump Advisers...
• Johnson amendment would let brokers off the fiduciary hook - investmentnews
• Washington state proposes 'shocking' estate tax changes - investmentnews
• Stocks climb on upbeat earnings, economic reports - investmentnews
• Cash4Gold Stops Suing Whistleblowers; FL AG Opens Investigation - consumerist
• S&P500 Swing Analog: 1938, 1974, 2003 - ritholtz
• DBRN, WCG, TTC, WMGI, GTIV, UAM Expected To Be Higher - insurancenewsnet
• How to Invest When the Fed Raises Rates - fool
• Claims Adjusters Busy, Logging As Many Damage Assessments In A Day As They Would In A Week - insurancenewsnet
• Banks Step Up Opposition to Regulatory Reform - wallstreetandtech
• Top six reasons why affluent clients dump their advisers - investmentnews
• What Do Oil ETFs Really Cost? - seekingalpha
• Washington state proposes 'shocking' estate tax changes - investmentnews
• Stocks climb on upbeat earnings, economic reports - investmentnews
• Cash4Gold Stops Suing Whistleblowers; FL AG Opens Investigation - consumerist
• S&P500 Swing Analog: 1938, 1974, 2003 - ritholtz
• DBRN, WCG, TTC, WMGI, GTIV, UAM Expected To Be Higher - insurancenewsnet
• How to Invest When the Fed Raises Rates - fool
• Claims Adjusters Busy, Logging As Many Damage Assessments In A Day As They Would In A Week - insurancenewsnet
• Banks Step Up Opposition to Regulatory Reform - wallstreetandtech
• Top six reasons why affluent clients dump their advisers - investmentnews
• What Do Oil ETFs Really Cost? - seekingalpha
Permalink posted by markw @ 5:04 AM
Econ Briefing: 5 million more foreclosures; Shadow inventory; More CRE Gloom; Capital One Says Credit-Card Delinquincies Rose...
• Coming Soon: 5 Million More Foreclosures - ritholtz
• Foreign demand for Teasury securities falls - finance.yahoo
• Obama to create fiscal commission to consider debt solutions - money.cnn
• White House: Pace of Recovery Act spending to pick up - money.cnn
• Shadow Inventory Of Troubled Mortgages - ritholtz
• More gloom ahead in commercial real estate Outside the Box - marketwatch
• Google Seeks to Ease Wireless Tensions - online.wsj
• Failure of Liberal Governance - online.wsj
• Krugman Says Inflation Is The Answer - globaleconomicanalysis
• Gasparino: The Sellout - ritholtz
• Hyperinflation As A Debt Repudiation Device? - zerohedge
• Hussman Follow-Up On The Great $1.5 Trillion Unlegislated GSE Bail Out - zerohedge
• Why Credit Matters to Employment and Sales - businessweek
• Update: Texas vs. the Unionocracy of California - mjperry
• Gold May Advance as Weaker Dollar Increases Investment Demand - businessweek
• Capital One Says Credit-Card Delinquencies Rose in January - foxbusiness
• Three Major Companies Quit Climate Change Coalition - foxbusiness
• Distressed Sales: Sacramento as an Example - calculatedriskblog
• Capital One Credit Card Charge-Offs Increase to 10.41% - calculatedriskblog
• Bank of America Sues to Force Stuyvesant Town Foreclosure, Sale - businessweek
• IL Pension Fund $61 Billion Underwater; State Borrows Money For 2010; CA $20 Billion in Hole Again - globaleconomicanalysis
• Foreign demand for Teasury securities falls - finance.yahoo
• Obama to create fiscal commission to consider debt solutions - money.cnn
• White House: Pace of Recovery Act spending to pick up - money.cnn
• Shadow Inventory Of Troubled Mortgages - ritholtz
• More gloom ahead in commercial real estate Outside the Box - marketwatch
• Google Seeks to Ease Wireless Tensions - online.wsj
• Failure of Liberal Governance - online.wsj
• Krugman Says Inflation Is The Answer - globaleconomicanalysis
• Gasparino: The Sellout - ritholtz
• Hyperinflation As A Debt Repudiation Device? - zerohedge
• Hussman Follow-Up On The Great $1.5 Trillion Unlegislated GSE Bail Out - zerohedge
• Why Credit Matters to Employment and Sales - businessweek
• Update: Texas vs. the Unionocracy of California - mjperry
• Gold May Advance as Weaker Dollar Increases Investment Demand - businessweek
• Capital One Says Credit-Card Delinquencies Rose in January - foxbusiness
• Three Major Companies Quit Climate Change Coalition - foxbusiness
• Distressed Sales: Sacramento as an Example - calculatedriskblog
• Capital One Credit Card Charge-Offs Increase to 10.41% - calculatedriskblog
• Bank of America Sues to Force Stuyvesant Town Foreclosure, Sale - businessweek
• IL Pension Fund $61 Billion Underwater; State Borrows Money For 2010; CA $20 Billion in Hole Again - globaleconomicanalysis
Permalink posted by markw @ 5:01 AM
International Briefing: Foreigners Cut Treasury Stakes; Japan Overtakes China as Largest Holder; The Greek Cockroach; HSBC May Be Involved in Tax Case
• Banks Help European Shares Gain In Early Trading - foxbusiness
• Foreigners cut Treasury stakes; rates could rise - finance.yahoo
• John Horseman Joins The China Skeptics - zerohedge
• The Greek Cockroach - ritholtz
• Goldman Sachs, Greece Didn't Disclose Swap, Investors 'Fooled' - bloomberg
• Japan Overtakes China as Largest Holder of Treasuries - businessweek
• HSBC reportedly involved in tax evasion case - marketwatch
• U.K. Unemployment Claims Jump to Highest Since 1997 - businessweek
• Putin Tells Greece to Relax, Points to US Debt - zerohedge
• Foreigners cut Treasury stakes; rates could rise - finance.yahoo
• John Horseman Joins The China Skeptics - zerohedge
• The Greek Cockroach - ritholtz
• Goldman Sachs, Greece Didn't Disclose Swap, Investors 'Fooled' - bloomberg
• Japan Overtakes China as Largest Holder of Treasuries - businessweek
• HSBC reportedly involved in tax evasion case - marketwatch
• U.K. Unemployment Claims Jump to Highest Since 1997 - businessweek
• Putin Tells Greece to Relax, Points to US Debt - zerohedge
Permalink posted by markw @ 4:59 AM
P&C Edges Out Life & Health In Customer Satisfaction Survey
The property and casualty insurance industry continued to edge out life and health insurers in a customer satisfaction survey, but overall satisfaction with p&c dropped slightly, according to a national survey... The American Customer Satisfaction Index, a quarterly index produced by the Ann Arbor, Mich.-based market research firm, found that despite p&c insurers edging out life and health insurers in the satisfaction index, p&c insurers took a 1 point hit, dropping to 80 in 2009.
Life insurers found themselves close behind p&c with an ACSI score of 79, an improvement of 1 point. Health insurers lagged behind with a score of 75, but gained 2 points from the previous year’s score...
P&C: P&C Edges Out Life & Health In Customer Satisfaction Survey
Life insurers found themselves close behind p&c with an ACSI score of 79, an improvement of 1 point. Health insurers lagged behind with a score of 75, but gained 2 points from the previous year’s score...
P&C: P&C Edges Out Life & Health In Customer Satisfaction Survey
Permalink posted by markw @ 4:45 AM
Tax Question Stalls AIG, MetLife Deal
The pending $15 billion sale of a large foreign life-insurance unit of American International Group Inc. to MetLife Inc. is being held up by a tax dispute that may require a ruling from the Internal Revenue Service, according to people familiar with the matter.
The tax issue could put the Department of the Treasury, as overseer of the Internal Revenue Service, in an awkward situation. The Treasury is supervising AIG while trying to recoup taxpayers' $120 billion-odd investment in AIG and related entities...
WSJ: Tax Question Stalls AIG, MetLife Deal
The tax issue could put the Department of the Treasury, as overseer of the Internal Revenue Service, in an awkward situation. The Treasury is supervising AIG while trying to recoup taxpayers' $120 billion-odd investment in AIG and related entities...
WSJ: Tax Question Stalls AIG, MetLife Deal
Permalink posted by markw @ 4:44 AM
Tuesday, February 16, 2010
Foremost Insurance Reminds of the Effects of Auto Insurance Fraud
Insurance fraud is not a "victimless" crime, according to Foremost Insurance Group. Fraud doesn’t just affect insurance companies, unfortunately all customers are impacted. Fraudulent claims increase the loss and investigation expenses for an insurer and impacts the rates customers pay for insurance.
Insurance fraud is on the rise. According to the National Insurance Crime Bureau, 14% more questionable claims were referred to them in 2009 than the year before. "Foremost has seen similar insurance fraud trends in recent months,” said Doug Ashbridge – Director of Special Investigations for Foremost®. "We have zero tolerance for fraud in all forms and have aggressive programs in place to detect, resist and prosecute those who take advantage of the company and other customers,” Ashbridge said...
INN: Foremost Insurance Reminds of the Effects of Auto Insurance Fraud
Insurance fraud is on the rise. According to the National Insurance Crime Bureau, 14% more questionable claims were referred to them in 2009 than the year before. "Foremost has seen similar insurance fraud trends in recent months,” said Doug Ashbridge – Director of Special Investigations for Foremost®. "We have zero tolerance for fraud in all forms and have aggressive programs in place to detect, resist and prosecute those who take advantage of the company and other customers,” Ashbridge said...
INN: Foremost Insurance Reminds of the Effects of Auto Insurance Fraud
Permalink posted by markw @ 5:56 AM
Advisor Briefing: New Life to Financial Reform... Contingent Commissions... Bad Deal for America's Young Adults...
• Prudence involves more than conduct - investmentnews
• Sens. Dodd, Corker Try to Bring New Life to Financial Reform Negotiations - insurancenewsnet
• Two N.C. residents accused of cashing another person's insurance check - ifawebnews
• Willis CEO says firm 'not going back' to contingent commissions - ifawebnews
• A Bad Deal in Store for America's Young Adults - insurancenewsnet
• Sens. Dodd, Corker Try to Bring New Life to Financial Reform Negotiations - insurancenewsnet
• Two N.C. residents accused of cashing another person's insurance check - ifawebnews
• Willis CEO says firm 'not going back' to contingent commissions - ifawebnews
• A Bad Deal in Store for America's Young Adults - insurancenewsnet
Permalink posted by markw @ 5:38 AM
Breakfast Briefing Econ Edition: Foreclosures to Keep Pressuring House Prices... Predictions on Mortgage Rates... Killing American Oil & Gas Bans...
• Sebelius says Anthem rate delay a symptom of health reform 'urgency' - ifawebnews
• Studies: Foreclosures to Keep Pressuring House Prices - online.wsj
• Labor Underutilization Rate by Household Income - calculatedriskblog
• Three Things Your Startup Should Put Off As Long As Possible - businessinsider
• The Continuing Climate Meltdown - online.wsj
• Predictions on Mortgage Rates after the Fed Stops Buying - calculatedriskblog
• Futures Climb As Gold, Oil Rally - foxbusiness
• NYS Appliance Rebate/Stimulus Plan - ritholtz
• Senate Dysfunction Part of Bigger Problem - online.wsj
• Volcker: Let Big Financial Firms Fail - ritholtz
• The New Credit-Card Rules: What to Expect - smartmoney
• Bank customers want good service, not just prices - marketwatch
• Killing American Oil & Gas Exploration Bans Would Unlock $2.4 Trillion Of GDP - businessinsider
• LPS Real Estate Group Licenses Maponics Neighborhood and ZIP Code Boundary Data for its Platforms - marketwatch
• 9,500 Shuttered Stores In Sacramento Area: "Everyone Perfectly Content With Less" - globaleconomicanalysis
• Housing Reports: Another Wave of Distressed Sales - calculatedriskblog
• Investor Sentiment: Finally Turns Neutral - zerohedge
• Capital One's Credit Card Charge-Offs And Delinquencies Jumped Again In January - businessinsider
• Studies: Foreclosures to Keep Pressuring House Prices - online.wsj
• Labor Underutilization Rate by Household Income - calculatedriskblog
• Three Things Your Startup Should Put Off As Long As Possible - businessinsider
• The Continuing Climate Meltdown - online.wsj
• Predictions on Mortgage Rates after the Fed Stops Buying - calculatedriskblog
• Futures Climb As Gold, Oil Rally - foxbusiness
• NYS Appliance Rebate/Stimulus Plan - ritholtz
• Senate Dysfunction Part of Bigger Problem - online.wsj
• Volcker: Let Big Financial Firms Fail - ritholtz
• The New Credit-Card Rules: What to Expect - smartmoney
• Bank customers want good service, not just prices - marketwatch
• Killing American Oil & Gas Exploration Bans Would Unlock $2.4 Trillion Of GDP - businessinsider
• LPS Real Estate Group Licenses Maponics Neighborhood and ZIP Code Boundary Data for its Platforms - marketwatch
• 9,500 Shuttered Stores In Sacramento Area: "Everyone Perfectly Content With Less" - globaleconomicanalysis
• Housing Reports: Another Wave of Distressed Sales - calculatedriskblog
• Investor Sentiment: Finally Turns Neutral - zerohedge
• Capital One's Credit Card Charge-Offs And Delinquencies Jumped Again In January - businessinsider
Permalink posted by markw @ 5:36 AM
International Breakfast Briefing: Goldman Says "Something Brewing" in China on Currency... India shares struggle on stimulus...
• Dollar Up as Europe Reels - online.wsj
• Irish Bank Bailout Gets Lucky Break From London Property Prices - businessweek
• New International Seed Fund Kima Ventures Wants To Invest In 100+ Startups - businessinsider
• The Yuan Is About To Surge Beyond Your Wildest Dreams - businessinsider
• Barclays Earnings: Barclays 2009 $18.18 Billion Profit Beats Forecasts - cnbc
• Juncker: Greece has March 16 Deadline to Show Progress - calculatedriskblog
• Inflation May Spur Revaluing of Yuan - online.wsj
• Greek Debt Crisis - Eurozone Gives Greece 30 Days to Show Good on Deficit - cnbc
• UK Inflation Rises to 3.5%, Forces Central Bank Letter - cnbc
• Oil Trades Near $74 as Dollar Gains on Greece Debt Concerns - businessweek
• Issing says "Last Chance For Greece" - globaleconomicanalysis
• Goldman Says "Something Brewing" in China on Currency; What's Really Brewing Is "Trouble" - globaleconomicanalysis
• India shares struggle on stimulus-withdrawal fears Asia Markets - marketwatch
• Finland Fin Min: No Financial Role For IMF With Greece - foxbusiness
• China Isn't Supplanting The US, It's Supplanting The World Bank, And It's Making The Yuan The World Currency - businessinsider
• Irish Bank Bailout Gets Lucky Break From London Property Prices - businessweek
• New International Seed Fund Kima Ventures Wants To Invest In 100+ Startups - businessinsider
• The Yuan Is About To Surge Beyond Your Wildest Dreams - businessinsider
• Barclays Earnings: Barclays 2009 $18.18 Billion Profit Beats Forecasts - cnbc
• Juncker: Greece has March 16 Deadline to Show Progress - calculatedriskblog
• Inflation May Spur Revaluing of Yuan - online.wsj
• Greek Debt Crisis - Eurozone Gives Greece 30 Days to Show Good on Deficit - cnbc
• UK Inflation Rises to 3.5%, Forces Central Bank Letter - cnbc
• Oil Trades Near $74 as Dollar Gains on Greece Debt Concerns - businessweek
• Issing says "Last Chance For Greece" - globaleconomicanalysis
• Goldman Says "Something Brewing" in China on Currency; What's Really Brewing Is "Trouble" - globaleconomicanalysis
• India shares struggle on stimulus-withdrawal fears Asia Markets - marketwatch
• Finland Fin Min: No Financial Role For IMF With Greece - foxbusiness
• China Isn't Supplanting The US, It's Supplanting The World Bank, And It's Making The Yuan The World Currency - businessinsider
Permalink posted by markw @ 5:28 AM
Investors Recruit Terminally Ill To Outwit Insurers on Annuities
"Terminal Illness? $2,000 in CASH, Immediately Available."
That was the promise of an advertisement that appeared regularly in 2007 and 2008 in the Rhode Island Catholic, the official newspaper of the local diocese. The money, the ad said, was coming from a "compassionate organization" that wanted to provide "financial assistance" for those near death.
In reality, the ad was a recruiting pitch for a plan hatched by a prominent Rhode Island estate-planning lawyer, who believed he had discovered a way to use an investment product sold by insurance companies to make no-risk bets on the stock market...
WSJ: Investors Recruit Terminally Ill To Outwit Insurers on Annuities
That was the promise of an advertisement that appeared regularly in 2007 and 2008 in the Rhode Island Catholic, the official newspaper of the local diocese. The money, the ad said, was coming from a "compassionate organization" that wanted to provide "financial assistance" for those near death.
In reality, the ad was a recruiting pitch for a plan hatched by a prominent Rhode Island estate-planning lawyer, who believed he had discovered a way to use an investment product sold by insurance companies to make no-risk bets on the stock market...
WSJ: Investors Recruit Terminally Ill To Outwit Insurers on Annuities
Permalink posted by markw @ 4:58 AM
IRS rules on variable annuity contracts issued to and distributed from DC plans
The IRS has privately ruled in IRS Letter Ruling 200951039 on a number of issues regarding the effects of Code Secs. 401(a)(9) and (11) and 417 on a proposed transaction in which variable annuity contracts will be issued to, and distributed from, defined contribution plans. Issues addressed include required minimum distribution requirements, election of payments in the form of a life annuity, and annuity payments under a qualified joint and survivor annuity...
CCH: IRS rules on variable annuity contracts issued to and distributed from DC plans
CCH: IRS rules on variable annuity contracts issued to and distributed from DC plans
Permalink posted by markw @ 4:35 AM
Friday, February 12, 2010
Obama Administration Promotes Fixed Annuities; Insurers Could Benefit
After The New York Times ran a story about the Obama administration promoting the use of fixed annuities to help middle-class savers in defined contribution (DC) plans manage longevity risk, research and advisory firm Aite Group took a look at what this will mean for insurers.
While the government promotion does not necessarily mean mandating that annuities be used, it does impact insurers’ DC plan design, sales and asset retention. Insurers with large books of DC business, Aite Group says, are best positioned to quickly integrate and implement a program of automatic—or “test-drive”—annuities to take advantage of a possible uptick in interest...
INN: Obama Administration Promotes Fixed Annuities; Insurers Could Benefit
While the government promotion does not necessarily mean mandating that annuities be used, it does impact insurers’ DC plan design, sales and asset retention. Insurers with large books of DC business, Aite Group says, are best positioned to quickly integrate and implement a program of automatic—or “test-drive”—annuities to take advantage of a possible uptick in interest...
INN: Obama Administration Promotes Fixed Annuities; Insurers Could Benefit
Permalink posted by markw @ 6:49 AM
Sun Life gains exposure in U.S., sees resurgence in Canadian operations
Sun Life Financial Inc. (TSX:SLF) says its resurgent Canadian operations helped double its fourth-quarter profit while it worked aggressively to become better known in the key U.S. market.
The major insurance company's overall net income rose to $296 million or 52 cents per diluted share, up from $129 million or 23 cents a share in the fourth quarter of 2008...
AP: Sun Life gains exposure in U.S., sees resurgence in Canadian operations
The major insurance company's overall net income rose to $296 million or 52 cents per diluted share, up from $129 million or 23 cents a share in the fourth quarter of 2008...
AP: Sun Life gains exposure in U.S., sees resurgence in Canadian operations
Permalink posted by markw @ 6:44 AM
Liberty Mutual sets Hub expansion
Liberty Mutual Group, one of Boston’s oldest corporate titans, will expand its operations in the Back Bay with a $300 million office tower and 600 additional employees, a sharp reversal of the city’s recent history of losing the headquarters of large employers that once dominated its landscape...
Boston.com: Liberty Mutual sets Hub expansion
Boston.com: Liberty Mutual sets Hub expansion
Permalink posted by markw @ 6:43 AM
Advisor Breakfast Briefing: What advisers can learn from Toyota. Broker group to sue over insurance commission disclosure rule...
• What financial advisers can learn from Toyota's PR fiasco - investmentnews
• Life insurance bruises likely not to heal soon - ifawebnews
• Broker group to sue over insurance commission disclosure rule - investmentnews
• Wall Street Journal Forecasting Survey (Whoopee) - ritholtz
• Nationwide goes back to funny [The Columbus Dispatch, Ohio] - insurancenewsnet
• Life insurance bruises likely not to heal soon - ifawebnews
• Broker group to sue over insurance commission disclosure rule - investmentnews
• Wall Street Journal Forecasting Survey (Whoopee) - ritholtz
• Nationwide goes back to funny [The Columbus Dispatch, Ohio] - insurancenewsnet
Permalink posted by markw @ 5:15 AM
Econ Breakfast Briefing: New Jersey on Edge of Bankruptcy. What to expect from CRE crisis. Home Prices Fell 12% in 2009.
• Governor Christie Declares "New Jersey on Edge of Bankruptcy" - globaleconomicanalysis
• Hotel RevPAR Off 5.6 Percent - calculatedriskblog
• What to Expect From the Commercial Real Estate Crisis - minyanville
• Break Up With Your Bad Big Bank This Valentine's - consumerist
• New Jersey: State of Fiscal Emergency - calculatedriskblog
• Pitiful $16 Billion 30 Year Auction Closes At 4.720%, Record Direct Take Down Of 24.07% - zerohedge
• Obama Forecast: 95,000 Jobs per Month in 2010, Unemployment rate at 10% - calculatedriskblog
• Strategic Non-Foreclosure Becomes Official Policy - ritholtz
• Job Plan Cut Back to Four Items Including Tax Break - bloomberg
• Thanks To Bank Of America's Crappy Online Payment System, Your House Is Getting Foreclosed - consumerist
• Heard on the Street: Google Takes on the Telecoms - online.wsj
• Corporate Bond Yields Offer Hint Party Is Over - globaleconomicanalysis
• Citi's Deed-in-Lieu Program, COP Report on CRE, and Greece - calculatedriskblog
• Home prices fell 12% in 2009 - Feb. 11, 2010 - money.cnn
• Jobless claims fall markedly - creditwritedowns
• Congressional Panel "Deeply Concerned" over Commercial Real Estate - cnbc
• Administration Seizes on Rate Increase to Jump-Start Health Plan - online.wsj
• Hotel RevPAR Off 5.6 Percent - calculatedriskblog
• What to Expect From the Commercial Real Estate Crisis - minyanville
• Break Up With Your Bad Big Bank This Valentine's - consumerist
• New Jersey: State of Fiscal Emergency - calculatedriskblog
• Pitiful $16 Billion 30 Year Auction Closes At 4.720%, Record Direct Take Down Of 24.07% - zerohedge
• Obama Forecast: 95,000 Jobs per Month in 2010, Unemployment rate at 10% - calculatedriskblog
• Strategic Non-Foreclosure Becomes Official Policy - ritholtz
• Job Plan Cut Back to Four Items Including Tax Break - bloomberg
• Thanks To Bank Of America's Crappy Online Payment System, Your House Is Getting Foreclosed - consumerist
• Heard on the Street: Google Takes on the Telecoms - online.wsj
• Corporate Bond Yields Offer Hint Party Is Over - globaleconomicanalysis
• Citi's Deed-in-Lieu Program, COP Report on CRE, and Greece - calculatedriskblog
• Home prices fell 12% in 2009 - Feb. 11, 2010 - money.cnn
• Jobless claims fall markedly - creditwritedowns
• Congressional Panel "Deeply Concerned" over Commercial Real Estate - cnbc
• Administration Seizes on Rate Increase to Jump-Start Health Plan - online.wsj
Permalink posted by markw @ 5:10 AM
International Breakfast Briefing: Just How Ugly is Sovereign Default Truth? Germany's Recovery Stalled. Greece in ruins. Iran On The Brink.
• Just How Ugly Is The Sovereign Default Truth? - zerohedge
• Honda Dealer Tricks Toyota Owners With Fake Recall Notice - consumerist
• Here Comes The Cavalry: Will US Taxpayers Be Footing The Bill For The Greek Bailout? - zerohedge
• Indebtedness of Various Sovereigns - ritholtz
• FT Explains Proposed Bank Reforms - ritholtz
• Germany's Recovery Stalled Unexpectedly in Fourth Quarter - cnbc
• Greece Just Signed Its National Suicide Pact - businessinsider
• Statement By Heads Of State Or Government Of The European Union - Ever More Confusion - zerohedge
• A fierce free market advocate and bond vigilantes leave Greece in ruins - maxkeiser
• Iran On The Brink - forbes
• Honda Dealer Tricks Toyota Owners With Fake Recall Notice - consumerist
• Here Comes The Cavalry: Will US Taxpayers Be Footing The Bill For The Greek Bailout? - zerohedge
• Indebtedness of Various Sovereigns - ritholtz
• FT Explains Proposed Bank Reforms - ritholtz
• Germany's Recovery Stalled Unexpectedly in Fourth Quarter - cnbc
• Greece Just Signed Its National Suicide Pact - businessinsider
• Statement By Heads Of State Or Government Of The European Union - Ever More Confusion - zerohedge
• A fierce free market advocate and bond vigilantes leave Greece in ruins - maxkeiser
• Iran On The Brink - forbes
Permalink posted by markw @ 4:57 AM
Thursday, February 11, 2010
Breakfast Briefing for Advisers: TFS Fund Backs Away; AllState Income; Do You Know Where Your Clients' Assets Are? 401(k) Matches Reinstated...
• Citing adviser frustration, TFS Fund backs away from performance-based fee - investmentnews
• Allstate reports $518 million quarterly net income - marketwatch
• It's 12:00 - Do you know where your clients' assets are? - investmentnews
• Opinion Poll - investmentnews
• Hewitt: 401(k) matches reinstated in 2010 - producersweb
• Allstate reports $518 million quarterly net income - marketwatch
• It's 12:00 - Do you know where your clients' assets are? - investmentnews
• Opinion Poll - investmentnews
• Hewitt: 401(k) matches reinstated in 2010 - producersweb
Permalink posted by markw @ 5:48 AM
Breakfast Briefing Econ: Fed Now Backstopping $25T; CRE Woes; 10 Things Millionaires Won't Tell You; Freddie Mac to Buy Out Loans...
• Enter Cede & Co II; The Fed Is Now Backstopping $25 Trillion In DTCC Cleared Credit Default Swaps - zerohedge
• Government Watchdog: Commercial Real Estate Woes Threaten Economic Economic Recovery - foxbusiness
• How The FDIC Is Legally Transferring Billions In Taxpayer Money To Hedge Funds - zerohedge
• 10 Things Millionaires Won't Tell You - smartmoney
• Commercial loans threaten small banks, watchdog group says - Feb. 11, 2010 - money.cnn
• State of the Economy Part II - zerohedge
• Freddie Mac to Buy Out Seriously Delinquent Loans - calculatedriskblog
• RealtyTrac: Foreclosures Decline in January, Surge Expected over Next Few Months - calculatedriskblog
• New Index based on Diesel Fuel Consumption data Declines in January - calculatedriskblog
• U.S. Foreclosure Filings Surpass 300,000 for 11th Month in Row - businessweek
• 10 year note auction not good - ritholtz
• What Is In A Name: Is A Clearinghouse Just A Clearinghouse - zerohedge
• The Atlantic: A new jobless era is transforming America - creditwritedowns
• CHART OF THE DAY: In Case You Had Any Doubts About Where Microsoft's Profit Comes From - businessinsider
• Government Watchdog: Commercial Real Estate Woes Threaten Economic Economic Recovery - foxbusiness
• How The FDIC Is Legally Transferring Billions In Taxpayer Money To Hedge Funds - zerohedge
• 10 Things Millionaires Won't Tell You - smartmoney
• Commercial loans threaten small banks, watchdog group says - Feb. 11, 2010 - money.cnn
• State of the Economy Part II - zerohedge
• Freddie Mac to Buy Out Seriously Delinquent Loans - calculatedriskblog
• RealtyTrac: Foreclosures Decline in January, Surge Expected over Next Few Months - calculatedriskblog
• New Index based on Diesel Fuel Consumption data Declines in January - calculatedriskblog
• U.S. Foreclosure Filings Surpass 300,000 for 11th Month in Row - businessweek
• 10 year note auction not good - ritholtz
• What Is In A Name: Is A Clearinghouse Just A Clearinghouse - zerohedge
• The Atlantic: A new jobless era is transforming America - creditwritedowns
• CHART OF THE DAY: In Case You Had Any Doubts About Where Microsoft's Profit Comes From - businessinsider
Permalink posted by markw @ 5:45 AM
Breakfast Briefing International: Coming to America - Greek Sovereign Debt Crisis; Honda Airbag Recall Expands; India Rethinks China Ties in Power...
• Coming To America: The Greek Sovereign Debt Crisis - zerohedge
• Insolvent European vs American States - ritholtz
• Iran To Permanently Shut Down Gmail - businessinsider
• Honda expands airbag recall to 379,000 more cars - Feb. 9, 2010 - money.cnn
• Video: Stiglitz and Hendry debate the Greek bailout - creditwritedowns
• On The Eve Of The Greek Bailout... Collapse Threatened - zerohedge
• Greece is the Word - calculatedriskblog
• India Rethinks China Ties in Power Sector - online.wsj
• Morgan Stanley hit with fraud claim over $21M in investment losses - investmentnews
• How Warren Buffett's Chinese Auto Company BYD Copied Competitor Designs - businessinsider
• Eyes on Greece; Ears on Bernanke - ritholtz
• Greek financial debacle threatens Swiss banks - creditwritedowns
• Actually, Chinese Debt-To-GDP Is Enormous... [and it needs] The Real Estate Bubble Stay Solvent - businessinsider
• Guest Post: Surprise! The Dollar Is Rallying... Or Is It? - zerohedge
• US Relative Outperformance: Bearish Sign for Global Equity Markets? - ritholtz
• China finds that energy security's a breeze Asia Markets - marketwatch
• Insolvent European vs American States - ritholtz
• Iran To Permanently Shut Down Gmail - businessinsider
• Honda expands airbag recall to 379,000 more cars - Feb. 9, 2010 - money.cnn
• Video: Stiglitz and Hendry debate the Greek bailout - creditwritedowns
• On The Eve Of The Greek Bailout... Collapse Threatened - zerohedge
• Greece is the Word - calculatedriskblog
• India Rethinks China Ties in Power Sector - online.wsj
• Morgan Stanley hit with fraud claim over $21M in investment losses - investmentnews
• How Warren Buffett's Chinese Auto Company BYD Copied Competitor Designs - businessinsider
• Eyes on Greece; Ears on Bernanke - ritholtz
• Greek financial debacle threatens Swiss banks - creditwritedowns
• Actually, Chinese Debt-To-GDP Is Enormous... [and it needs] The Real Estate Bubble Stay Solvent - businessinsider
• Guest Post: Surprise! The Dollar Is Rallying... Or Is It? - zerohedge
• US Relative Outperformance: Bearish Sign for Global Equity Markets? - ritholtz
• China finds that energy security's a breeze Asia Markets - marketwatch
Permalink posted by markw @ 5:43 AM
Investment Advisor Who Ran a $45 Million Ponzi Scheme Sentenced to Nine Years’ Imprisonment
Earlier this afternoon, at the federal courthouse in Brooklyn, New York, Edward T. Stein, an investment advisor based in Roslyn, New York, was sentenced to nine years of imprisonment for securities fraud and wire fraud. The sentence was imposed by United States District Judge Jack B. Weinstein.
On June 22, 2009, Stein pled guilty to operating a Ponzi scheme by inducing investors to purchase interests in several funds and partnerships that he controlled between 1998 and the date of his arrest in April 2009. While Stein falsely assured investors that he would make investments on their behalf with the funds provided to him, he used millions of dollars for other purposes, including personal expenses, investments in his own name, and to pay redemptions to other individuals who had invested money with him. The scheme resulted in over $45 million in losses to approximately 100 investors...
FBI: Investment Advisor Who Ran a $45 Million Ponzi Scheme Sentenced to Nine Years’ Imprisonment
On June 22, 2009, Stein pled guilty to operating a Ponzi scheme by inducing investors to purchase interests in several funds and partnerships that he controlled between 1998 and the date of his arrest in April 2009. While Stein falsely assured investors that he would make investments on their behalf with the funds provided to him, he used millions of dollars for other purposes, including personal expenses, investments in his own name, and to pay redemptions to other individuals who had invested money with him. The scheme resulted in over $45 million in losses to approximately 100 investors...
FBI: Investment Advisor Who Ran a $45 Million Ponzi Scheme Sentenced to Nine Years’ Imprisonment
Permalink posted by markw @ 4:44 AM
Prudential Swings To 4Q Profit But Shares Fall
Prudential Financial Inc.'s (PRU) financial-services business swung to a fourth-quarter profit on higher revenue, as year-earlier results were hurt by steep investment losses.
With its move into the black, Prudential joined Lincoln National Corp. (LNC), Genworth Financial Inc. (GNW) and Hartford Financial Services Group Inc. (HIG) in posting improved results after the industry was battered at the end of 2008 by the volatile financial markets...
WSJ: Prudential Swings To 4Q Profit But Shares Fall
With its move into the black, Prudential joined Lincoln National Corp. (LNC), Genworth Financial Inc. (GNW) and Hartford Financial Services Group Inc. (HIG) in posting improved results after the industry was battered at the end of 2008 by the volatile financial markets...
WSJ: Prudential Swings To 4Q Profit But Shares Fall
Permalink posted by markw @ 4:42 AM
Another Wrinkle in the A.I.G. Bailout
The plot thickens again for the American International Group bailout. The rescued insurer is in discussions to sell its American Life Insurance, or Alico, unit to MetLife. But A.I.G. might get MetLife stock as part of the potential $15 billion deal. As a result, the government could end up owning stock in yet another company, bringing further delay and uncertainty to the bailout repayment effort.
In one of the iterations of the bailout, in which the government committed more than $180 billion, the New York Federal Reserve converted $9 billion of debt A.I.G. owed into a preferred equity interest in Alico...
NYT: Another Wrinkle in the A.I.G. Bailout
In one of the iterations of the bailout, in which the government committed more than $180 billion, the New York Federal Reserve converted $9 billion of debt A.I.G. owed into a preferred equity interest in Alico...
NYT: Another Wrinkle in the A.I.G. Bailout
Permalink posted by markw @ 4:41 AM
Wednesday, February 10, 2010
Advisor Links: BofA Lobbying, Superbowl Team of Online Finance, Going the Extra Mile
• Independent Insurance Agents & Brokers of New York Honors Six Insurers With Outstanding Company Partner Awards - insurancenewsnet
• Bank of America spent $1.18M lobbying government in 4Q - investmentnews
• Minnesota's Top Two Youth Volunteers Selected in 15th Annual National Awards Program - insurancenewsnet
• The Superbowl Team of Online Finance - ritholtz
• Going the extra mile - investmentnews
• Bank of America spent $1.18M lobbying government in 4Q - investmentnews
• Minnesota's Top Two Youth Volunteers Selected in 15th Annual National Awards Program - insurancenewsnet
• The Superbowl Team of Online Finance - ritholtz
• Going the extra mile - investmentnews
Permalink posted by markw @ 6:24 AM
International Links: How Will Oil React to Iran's 'Punch'? China Dumping Begins. Euro Zone Agrees to Bailout Greece.
• China Dumping Begins: Reserve Managers Notified That Any Non-USG Guaranteed Securities Must Be Divested - zerohedge
• Senior Chinese Military Officers Joins Iran In Delivering "Punch" To U.S., Propose Selling Treasuries As Arms Sales Punishment - zerohedge
• Deconstructing Europe: How A 20 Billion Liquidity Crisis Is Set To Become A 1.6 Trillion Funding Crisis - zerohedge
• Report: Euro Zone Agrees to Bailout Greece - calculatedriskblog
• More Greece, Revised Economic Release Schedule - calculatedriskblog
• China Economy: Chinese Imports, Exports Surge; Yuan to Stay Stable - cnbc
• Andy Xie: China Better Open Up Its Economy Fast, Else An Obama Trade War Will Crush It - businessinsider
• Goldman Sachs Helped Greece Hide Its Treaty-Violating Deficit - businessinsider
• Brazil to Sanction U.S. on Goods, Intellectual Rights - businessweek
• Germany backs bailout of Greece: yields plummet on Greek bonds, euro rallies - maxkeiser
• How Will Oil React to Iran's Promised "Punch"? - minyanville
• Senior Chinese Military Officers Joins Iran In Delivering "Punch" To U.S., Propose Selling Treasuries As Arms Sales Punishment - zerohedge
• Deconstructing Europe: How A 20 Billion Liquidity Crisis Is Set To Become A 1.6 Trillion Funding Crisis - zerohedge
• Report: Euro Zone Agrees to Bailout Greece - calculatedriskblog
• More Greece, Revised Economic Release Schedule - calculatedriskblog
• China Economy: Chinese Imports, Exports Surge; Yuan to Stay Stable - cnbc
• Andy Xie: China Better Open Up Its Economy Fast, Else An Obama Trade War Will Crush It - businessinsider
• Goldman Sachs Helped Greece Hide Its Treaty-Violating Deficit - businessinsider
• Brazil to Sanction U.S. on Goods, Intellectual Rights - businessweek
• Germany backs bailout of Greece: yields plummet on Greek bonds, euro rallies - maxkeiser
• How Will Oil React to Iran's Promised "Punch"? - minyanville
Permalink posted by markw @ 6:23 AM
Econ Links: Least Trusted Banks, CBRE says Retail Cap Rates Increased, Tax Revolt...
• The Least Trusted Banks in America - finance.yahoo
• CBRE: Retail Cap Rates Increase Sharply in Q4 - calculatedriskblog
• Bulls & Bears Make Money; Corporations Get Free Speech? - ritholtz
• Early signs of a 'double dip' in housing prices - marketwatch
• JPM: Don't Worry About The Snow, You Can Spend The Night - dealbreaker
• Rail Traffic Flat in January Compared to 2009 - calculatedriskblog
• MBA: Mortgage Purchase Applications Decline, Rates Fall below 5.0% - calculatedriskblog
• The Next Crisis Will Be A Tax Revolt Because Government Salaries Have Just Gotten (Relatively) Outrageous - businessinsider
• Believe It Or Not, America Is Leading The Global Manufacturing Recovery - businessinsider
• 3M Increases Dividend 3%, 52nd-Straight Yearly Boost - foxbusiness
• GM Expects Heavy-Duty Silverado to Appeal to Work-Truck Buyers - businessweek
• Small Businesses Owners' Association Slams Obama's Stimulus Efforts - globaleconomicanalysis
• 2010 YTD Treasury Investor Class Purchasing Update - zerohedge
• Warren Buffett: I Have Greater Appreciation of Pres. Bush's Handling of Credit Crisis - cnbc
• Affiliated Managers In $775 Mln Fund-of-fund Buy - foxbusiness
• CBRE: Retail Cap Rates Increase Sharply in Q4 - calculatedriskblog
• Bulls & Bears Make Money; Corporations Get Free Speech? - ritholtz
• Early signs of a 'double dip' in housing prices - marketwatch
• JPM: Don't Worry About The Snow, You Can Spend The Night - dealbreaker
• Rail Traffic Flat in January Compared to 2009 - calculatedriskblog
• MBA: Mortgage Purchase Applications Decline, Rates Fall below 5.0% - calculatedriskblog
• The Next Crisis Will Be A Tax Revolt Because Government Salaries Have Just Gotten (Relatively) Outrageous - businessinsider
• Believe It Or Not, America Is Leading The Global Manufacturing Recovery - businessinsider
• 3M Increases Dividend 3%, 52nd-Straight Yearly Boost - foxbusiness
• GM Expects Heavy-Duty Silverado to Appeal to Work-Truck Buyers - businessweek
• Small Businesses Owners' Association Slams Obama's Stimulus Efforts - globaleconomicanalysis
• 2010 YTD Treasury Investor Class Purchasing Update - zerohedge
• Warren Buffett: I Have Greater Appreciation of Pres. Bush's Handling of Credit Crisis - cnbc
• Affiliated Managers In $775 Mln Fund-of-fund Buy - foxbusiness
Permalink posted by markw @ 6:22 AM
Hartford drops on concern about TARP repayment
Hartford Financial Services Group shares fell more than 5% Tuesday on concern the insurer may have to raise roughly $2 billion in new equity to repay money it got from the U.S. government's Troubled Asset Relief Program, or TARP.
Shares of rival insurer Lincoln Financial Group climbed almost 5% partly on optimism about its ability to repay TARP with less impact on current investors...
MarketWatch: Hartford drops on concern about TARP repayment
Shares of rival insurer Lincoln Financial Group climbed almost 5% partly on optimism about its ability to repay TARP with less impact on current investors...
MarketWatch: Hartford drops on concern about TARP repayment
Permalink posted by markw @ 5:08 AM
Life insurers, life settlement group spar over securitization
A new policy statement from a life insurers’ group, suggesting that the securitization of life settlements needs to be regulated, has sparked a sharp response from a life settlement trade group.
The American Council of Life Insurers (ACLI), representing nearly 300 companies providing life insurance, recommended that the securitization of life settlements “be prohibited by legislation or regulation.” ...
IFA Web News: Life insurers, life settlement group spar over securitization
The American Council of Life Insurers (ACLI), representing nearly 300 companies providing life insurance, recommended that the securitization of life settlements “be prohibited by legislation or regulation.” ...
IFA Web News: Life insurers, life settlement group spar over securitization
Permalink posted by markw @ 5:07 AM
Tuesday, February 09, 2010
Advisor News: Tanging with Lincoln National, Fusion Advisor Network, Dirty Tricks at Mercury Insurance...
• Oklahoma State U., T. Boone Pickens tangle with Lincoln National - investmentnews
• Fusion Advisor Network adds Medallion to roster of member firms - investmentnews
• Short-sale disclosure will jack up costs, sap liquidity, warns hedge fund group - investmentnews
• New issue bonds: A good alternative to bond ETFs? - investmentnews
• Time For Another Truthfest From Bob Janjuah - zerohedge
• State Investigators Find All Sorts Of Dirty Tricks At Mercury Insurance - consumerist
• Financial Planning Myths - tipd
• Fusion Advisor Network adds Medallion to roster of member firms - investmentnews
• Short-sale disclosure will jack up costs, sap liquidity, warns hedge fund group - investmentnews
• New issue bonds: A good alternative to bond ETFs? - investmentnews
• Time For Another Truthfest From Bob Janjuah - zerohedge
• State Investigators Find All Sorts Of Dirty Tricks At Mercury Insurance - consumerist
• Financial Planning Myths - tipd
Permalink posted by markw @ 12:01 PM
Econ News: How to Split the U.S., NFIB Report, Unemployment Taxes Up, Aig and Greece...
• How To Split Up The U.S. - businessinsider
• Forget the Mortgage, I'm Paying My Credit Card Bill - finance.yahoo
• NFIB: Small Business Owners Report "shortage of customers" - calculatedriskblog
• Companies paying more in unemployment taxes - Feb. 9, 2010 - money.cnn
• Why I Trust Casinos More Than Banks - seekingalpha
• The Ever Increasing Parallels Between AIG And Greece... And The CDS Puppetmaster Behind It All - zerohedge
• And Goldman Sachs pushed AIG into what? - Advantage zyaada - seekingalpha
• Fed's Bullard: Fed Could Keep Interest Rates Low Until 2012 - foxbusiness
• Job seekers outnumber open positions by nearly 6 to 1 - Feb. 9, 2010 - money.cnn
• The coming wave of second mortgage writedowns - creditwritedowns
• Food Stamps - The Great Recession's Soup Lines - ritholtz
• Corporate credit markets feeling the correction too - ritholtz
• Bernanke Hearing Before House Panel Postponed - foxbusiness
• Forget the Mortgage, I'm Paying My Credit Card Bill - finance.yahoo
• NFIB: Small Business Owners Report "shortage of customers" - calculatedriskblog
• Companies paying more in unemployment taxes - Feb. 9, 2010 - money.cnn
• Why I Trust Casinos More Than Banks - seekingalpha
• The Ever Increasing Parallels Between AIG And Greece... And The CDS Puppetmaster Behind It All - zerohedge
• And Goldman Sachs pushed AIG into what? - Advantage zyaada - seekingalpha
• Fed's Bullard: Fed Could Keep Interest Rates Low Until 2012 - foxbusiness
• Job seekers outnumber open positions by nearly 6 to 1 - Feb. 9, 2010 - money.cnn
• The coming wave of second mortgage writedowns - creditwritedowns
• Food Stamps - The Great Recession's Soup Lines - ritholtz
• Corporate credit markets feeling the correction too - ritholtz
• Bernanke Hearing Before House Panel Postponed - foxbusiness
Permalink posted by markw @ 11:59 AM
International News: Canada's Housing Bubble, Dismantle the Euro, Here Comes the Bund Crash...
• Canadian Housing Bubble? - ritholtz
• Spanish, Portuguese CDS spreads Hit New Records - calculatedriskblog
• The Germans will not bailout Greece - creditwritedowns
• Europe's Choice: Dismantle The Euro, Or Cede All National Sovereignty To Brussels - businessinsider
• As Expected, Here Comes The Bund Crash As Almunia's Lies Are Refuted - zerohedge
• More from Chanos on the Chinese property bubble - creditwritedowns
• Germany formulates Greece aid plan: report - marketwatch
• Debt concealment in Greece - creditwritedowns
• Here Comes The Selling As Germany Claims Greek Bailout Rumors Are Unfounded, Confusion Reigns - zerohedge
• Crude-oil Futures Surge Nearly 3% On Greece Talk - foxbusiness
• Spanish, Portuguese CDS spreads Hit New Records - calculatedriskblog
• The Germans will not bailout Greece - creditwritedowns
• Europe's Choice: Dismantle The Euro, Or Cede All National Sovereignty To Brussels - businessinsider
• As Expected, Here Comes The Bund Crash As Almunia's Lies Are Refuted - zerohedge
• More from Chanos on the Chinese property bubble - creditwritedowns
• Germany formulates Greece aid plan: report - marketwatch
• Debt concealment in Greece - creditwritedowns
• Here Comes The Selling As Germany Claims Greek Bailout Rumors Are Unfounded, Confusion Reigns - zerohedge
• Crude-oil Futures Surge Nearly 3% On Greece Talk - foxbusiness
Permalink posted by markw @ 11:58 AM
Monday, February 08, 2010
Life insurance as an investment tool depends on individual
In the financial planning industry, very few questions have universal answers. With that in mind, one of the most common questions financial advisers hear is: “Should I use a life insurance policy as an investment vehicle?”
BizJournals: Life insurance as an investment tool depends on individual
BizJournals: Life insurance as an investment tool depends on individual
Permalink posted by markw @ 5:35 AM
Benmosche sees P&C unit, US life at AIG's core
American International Group Inc (AIG.N) Chief Executive Robert Benmosche envisions a smaller company in the future, with global property-casualty and U.S. life and annuity operations at its core, according to his comments in an internal company publication.
AIG, once the world's largest insurer, has to shrink because it must sell businesses to pay back the U.S. government as well as to become a more focused organization that is "not too big to fail," Benmosche said in a recent interview with Contact, a copy of which was obtained by Reuters...
Reuters: Benmosche sees P&C unit, US life at AIG's core
AIG, once the world's largest insurer, has to shrink because it must sell businesses to pay back the U.S. government as well as to become a more focused organization that is "not too big to fail," Benmosche said in a recent interview with Contact, a copy of which was obtained by Reuters...
Reuters: Benmosche sees P&C unit, US life at AIG's core
Permalink posted by markw @ 5:28 AM
Hartford Remains a Premium Bet
THE SECURITIES AND EXCHANGE commission may be late to regulating key aspects of high-frequency trading, but it is catching up quickly. The agency recently proposed a rule banning naked access, or the ability of high-frequency traders to use their brokers' codes to trade directly with stock exchanges without undergoing pretrade oversight by the broker. Direct access confers a time advantage, but potentially could destabilize the system if a trader couldn't settle a trade...
Barrons: Hartford Remains a Premium Bet
Barrons: Hartford Remains a Premium Bet
Permalink posted by markw @ 5:27 AM
Advisor Briefing: TD Ameritrade looks to RIAs, January Bond Strength Reverses...
• TD Ameritrade looks to RIAs to rake in affluent business - investmentnews
• January Bond Strength Reverses As Spreads Explode On Credit Concerns - businessinsider
• Finding the Best Discount Broker for RRSP - tipd
• Testing times for mutual fund industry Shikhar Balwani's This Week in India - marketwatch
• Government requests information on using annuities in 401(k)s - investmentnews
• January Bond Strength Reverses As Spreads Explode On Credit Concerns - businessinsider
• Finding the Best Discount Broker for RRSP - tipd
• Testing times for mutual fund industry Shikhar Balwani's This Week in India - marketwatch
• Government requests information on using annuities in 401(k)s - investmentnews
Permalink posted by markw @ 5:19 AM
Econ Breakfast Briefing: NYT Paterson Bombshell, Canada Worries, Goldman vs. AIG...
• SOURCE: NYT's David Paterson Bombshell To Break Tomorrow, Governor's Resignation To Follow - businessinsider
• As U.S. Struggles, Canada Worries About Housing Bubble - online.wsj
• No Job Growth for Small Business Spurs Recovery Doubt - businessweek
• Goldman Sachs vs AIG - ritholtz
• Match Made In Incompetence Heaven: John Thain Is CIT's New CEO And Chairman - zerohedge
• Planet Google - ritholtz
• SEC Is Probing Goldman's Excess Variation Margin Demands On AIG - zerohedge
• California Sheriff Takes Home $640,000 a Year; Automatic Muni Raises in SF - globaleconomicanalysis
• Mortgage Bankers Association 'Walks Away' from HQ - ritholtz
• The OTHER Reason that the U.S. is Not Regulating Wall Street - zerohedge
• Colton California Considers Disbanding Fire Department - globaleconomicanalysis
• Goldman Sachs' "Deal Of The Year" Power Plant Explosion Kills 5, Injures 12 - businessinsider
• As U.S. Struggles, Canada Worries About Housing Bubble - online.wsj
• No Job Growth for Small Business Spurs Recovery Doubt - businessweek
• Goldman Sachs vs AIG - ritholtz
• Match Made In Incompetence Heaven: John Thain Is CIT's New CEO And Chairman - zerohedge
• Planet Google - ritholtz
• SEC Is Probing Goldman's Excess Variation Margin Demands On AIG - zerohedge
• California Sheriff Takes Home $640,000 a Year; Automatic Muni Raises in SF - globaleconomicanalysis
• Mortgage Bankers Association 'Walks Away' from HQ - ritholtz
• The OTHER Reason that the U.S. is Not Regulating Wall Street - zerohedge
• Colton California Considers Disbanding Fire Department - globaleconomicanalysis
• Goldman Sachs' "Deal Of The Year" Power Plant Explosion Kills 5, Injures 12 - businessinsider
Permalink posted by markw @ 5:18 AM
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