Will SIPC Rescue Madoff?

With all that has happen in this PONZI scheme SIPC may be forced to revise their insurance coverage criteria. Additionally, early investors may be forced to disclose their earnings and dish out funds into the bankruptcy dealings. Seems like eager money hungry lawyers are trying to find ways to dig up funds to pay off [...]

Experts say buy these stocks:

Some recomendations for the upcoming 2009 year are:
American Eagle Outfitters (NYSE: AEO) $8.99 ($9.13) — 4.39%
Anadarko Petroleum (NYSE: APC) $34.00 ($37.95) — 0.97%
Anglo American ADR (NASDAQ: AAUK) $10.99 ($11.37) — 6.07%
Annaly Capital Management (NYSE: NLY) $14.80 ($15.29) — 15.01%
Diageo plc (NYSE: DEO) $52.00 ($55.65) — 4.67%
EZCorp Inc. (NASDAQ: EZPW) $14.46 ($14.81)
General Electric Company (NYSE: GE) [...]

At the end of 2008….

The stock market finished on a good note in the final hours of trading in 2008. Dow ends up 1.25% up at 8,776.39 – 108 points up. Nasdaq – up 26.33 points and the S&P 500 end up at 903.25 with a 12.61 point gain. Investors await to see what the new 2009 year will [...]

As a Financial Professional, how do I manage my clients in these markets?

With the last quarter of 2009 coming to a close, most financial professionals including registered reps and investment advisors have had to answer client’s questions regarding the safety of their assets and what to do with the economy. This was as a result of the slew of bad news and the collapse of mortgage markets [...]

Suspension of 401K Required Minimum Distribution

On December 23, 2008, President Bush signed into law the Worker, Retiree and Employer Recovery Act granting a one-year suspension of the required minimum distribution (RMD) from certain retirement plans. That means Americans 70~ years or older are not required to take mandatory payouts from their 401(k)s, IRAs and other tax-advantaged retirement plans in 2009. [...]

SIPC Coverage and Madoff

Are clients able to get SIPC coverage from Madoff’s $50 Billion dollar heist? Are clients able to get any thing back through the legal system?
SIPC coverage is provided through broker dealers. Legal experts are now looking at the ways in which coverage may help ease some losses, however SIPC coverage is only $100,000 cash [...]

Words They Will Be Remembered By

Alan Schwartz
“We had $17 billion of cash” at the end of last year, and “that liquidity cushion has been virtually unchanged.”
—Bear Stearns CEO Alan Schwartz telling CNBC in a March 12, 2008, interview that he is not aware of any liquidity problems at the firm.
Two days later, Bear Stearns, the fifth largest [...]

Is Social Security a Ponzi Scheme?

Very interesting article….click on link to read entire article.
Read more

Temporary Layoffs

Since November 2008, there are 10.3 million unemployed workers from which 12% were unemployed due to temporary layoffs. Last time we have seen numbers like this was in 1991. Temporary layoffs are courtesy from your company, vacation for sure but with one catch….unpaid. For example, University Of Maryland Medical Center is requiring temporary layoffs for [...]

Economic Calandar for 12/31/2008

7:00 MBA Mortgage Applications
8:30 Jobless Claims
9:00 NAPM NY Report
10:35 EIA Petroleum Status
12:00 PM EIA Natural Gas Report

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