Santander and Wells Fargo Show Signs of Hope….

While recession looms in the industry some banks are posting steady dividends.
The news came as bank shares rallied on optimism governments prefer to guarantee losses on assets, rather than take more stakes in banks, helped by reports the U.S. government would set up a bad bank to mop up the toxic assets of stricken lenders.
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More sent home without jobs…..

The second larges airplane maker, Boeing Co., posted 4th Q losses. Travel has declined dramatically due to the global economic slowdown and the airline industry is definitely suffering. As we have seen for some time now, mass layoffs, have been announced by many big companies. Boeing is planning on cutting over 10,000 jobs. The company [...]

SEC Approves Amendments to FINRA Trade Reporting Rules

Starting August 3, 2009 FINRA Trade Reporting Rules for over-the-counter equity transactions will change. The amendments include:
· replace the current market maker-based trade reporting structure with an “executing party” structure; and
· require firms with the trade reporting obligation that are acting in a riskless principal or agency capacity on behalf of another member firm(s) to submit non-tape [...]

New Account Application Template – Podcast

Please click on the link below to access this new podcast from FINRA that covers New Account Application Template.
Click here to access podcast

51 Million

The International Labor Organization (ILO) announced that up to 51 million jobs worldwide could disappear by the end of this year as economic slowdown has turned into a global employment crisis. Optimistic scenario shows that this year we could finish with 18 million more unemployed people, with a global unemployment rate reaching 6.1%. The more [...]

Economic Calandar for 01/28/2009

7:00 MBA Mortgage Applications
10:30 EIA Petroleum Status
2:15 PM FOMC Decision

“when the going gets tough the tough gets going”…..

As people say “when the going gets tough the tough gets going”. I think we are all victims of the current economic crisis. Wall Street agrees that the current credit crisis is the worst since WWII. On top of sky high unemployment rates, diminishing real estate markets, credit freeze, companies unable to stay in [...]

Girl Scouts in recession ?!?!?

Reducing the content in packages for different products at the stores is not a new phenomenon, but reducing the size of the Girl Scout cookies, now that’s something new. America’s best-known treats seam to be hit by the harsh economy as countless big companies.
Read more here.

Regulators defend actions amid Madoff scandal

“This is interesting. Warren Buffet did say you will see who’s swimming naked in bear markets. Ever since Madoff made off with investor funds and the sec’s negligence has been brought to light massive securties fraud if comming out the woodwork across the country. Looks like the sec is doing their job now. Seems a [...]

More layoffs cat

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