dear all,
as you all know i don't send junks to all of you, but this one site worth visiting if you are keeping up with m'sia 's developement . really entertaining.
I dont know how u rate this site as !?? for me, it is solely an entertainment web ! enjoy yrself blah blah blah ha ha ha esp for those who badly burnt in d recent slump, jgn marah yah ? ^V^
www.comedycourt.com.my
22 comments:
nice website... at least got some entertainment... i had 30% burned...hope can recover..
Ben, let me know yr email add pls ^V^
LionDiv, i'm looking forward to have you more, probably after elections, when can see the bottom reversal up and volume building up...hopefully.....
Very hard to yan-yan-yan. when see the price drop from sky to let level that once to be your entry level........
Vince 38, dont do cost averaging, mkt is very uncertain, another 300 points down by dow in d coming days will sent d whole world 2 another bottom, just sit on it n hold, i am very confident that liondiv will bring u fantastic return if one hv d patient n holding power, be it 1.43 or 1.58 u bought, over d long run .. $$$$$ is there 4 u ^V^
My exposure 2 KLCI is now down from 50% to 20% after d announcement of GE 2 weeks ago. left only Liondiv n a little bit of Skpres n keladi. pretty safe n comfortable at this moment.
I wanna to see how accurate is my analysis vs d iching that telling good performance ahead in March n April ^V^ Last year, that Iching proven to be good n let see how accurate she is in year 2008 .
Sifu sam,
can u tell me what is this "sukuk" about?it seems like there a few companies offering this recently?..
and also..wat is "Iching" u mentioned here in ur comment
thanks
Sam,
I am still holding mahsing and still loosing ard 30%, do u think i should switch it to liondiv. I do plan to do so. Thanks for your advice.
GK
benjamintey@gmail.com
Anything? Good lobang? Sigh ... this week is really busy, don't even have time to monitor share price, maybe is good also because won't be scared by dipping of KLCI... ^_^
Hi all,
I just start to invest in klse before cny! Now, seems like the condition is getting worse..
Sam, hope the Iching is proven, b'cos it's time to buy in the stock Mega-Sales!
gk, holding mahsing n losing ard 30% ?? can not be wat !? i called to buy ard 1.65+-, even u bought abit higher @ 1.75, u r still making $$wat ? how come still losing 30% ?? swap to liondiv ? if u still holidng on mahsing, yes ..it is wise to do d swap, if u r doing averaging..NO ! we yet to see d bottom.. stay aside.
Hi Sam,
Thanks for your advice and replied. Actually I bought mahsing much more earlier than you, it kept on dropping since then. That's why I am still loosing. Pls don mind if i ask this question, if the market yet to come to the bottom, is swap worthy? or should I wait more time? Thanks a lot Sam
GK
Uncle Sam...
Pls comment on Mems. I think there is hope of a rebound based on strong previous performances. Apparently, they are deliberating their accounts. What does that mean ? Pls revert. Thanks.
TL : HERE ARE SOME EXTRACT FROM THE RECENT INTERVIEW TL WITH MR FED ON BLOOMBLOG ( PLEASE DO NOT CORRECT ME, IS NOT SPELLING ERROR )
TL : MR FED, LAST QUARTER WE TALK DOWN ABOUT RECESSION AND WITH THE PRESENT ECON DATA RELEASE RECENTLY POINTING TO INFLATION RISK AT LARGE, HOW DO YOU MANAGE THE RATE AND RISK ?
MR FED : U ASK ME ? I JUST TAKE THE HOT SEAT FROM MR GREEN AND ASK ME TO SWEEP ALL HIS SHIT ? NOT FAIR LAH !
TL : WHY NOT ? WHEN MR BUSH HAND OVER THE APPOINTMENT LETTER TO U, HE DID INDEED GIVEN YOU A BROOM RIGHT ?
MR FED : YA LOR....I DID ASK HIM WHY, BUT MR BUSH JUST PUT UP A SMILE ONI.
TL : NEVER MIND LAH....SO HOW NOW ?
MR FED : WAH ALSO TARAK TAU...( SCRATCHING HIS BALD HEAD AND KEEP TOSSING HIS HEAD TO LEFT AND RIGHT )
TL : ARE U GOING TO CUT RATE AGAIN NEXT MONTH ON THE 18TH MARCH ?
MR FED : WHAT CAN I DO ? THE MARKET ' FORCE ' ME TO CUT WHAT. IF I DON'T CUT, DOW WILL SURE DROP LAGI JIALAT ( IN HOKIEN - DEEP SHIT ). SO I WILL CUT LOR.
TL : MARKET PRICE IN 25 BASIS POINTS ? SO ARE U GOING TO DO EXACTLY WHAT THE MARKET ASK FOR ?
MR FED : AIYAH....CAN U LEND ME YOUR BOTTLE OF MINYAK KAPAK ? LET ME SAPU FIRST A BIT.....
TL : OKAY....IF SAPU NOT ENOUGH, YOU MAY DRINK IT TOO..BUT CARE TO DILUTE A BIT WITH WARM WATER.
MR FED : ARRRHHH....FEELING BETTER NOW....OKAY, WHERE WE ARE JUST NOW ?
TL : ABOUT THE RATE LOR....POTONG LAGI KAH ?
MR FED : SURE POTONG, MAYBE MORE TOO.
TL : LAST QUESTION FOR THE DAY. WITH THE DOW COMING DOWN QUITE A FAR BIT RECENTLY, WHAT DO YOU THINK OF THE COMING MARKET TREND ?
MR FED : IS VERY EASY TO PREDICT LAH. ASK MY GRANNY 90 YEARS OLD ALSO CAN TELL U......MARKET SURE UP ONE.....BUT I AM NOT GONNA TO TELL U WHEN.
TL : THANKS FOR YOUR TIME. BY THE WAY, I GOT BRING IN EXTRA 2 BOTTLE OF MINYAK ANGIN...IF YOU WANT, JUST TAKE IT.....IS MY COMPLIMENT !
ECONOMIC PREVIEW
Same old song? Inflation, growth worries dominate
For the week ahead, economists await fewer home sales, hotter PPI
By Laura Mandaro, MarketWatch
Last update: 1:28 p.m. EST Feb. 24, 2008
SAN FRANCISCO (MarketWatch) -- This week's U.S. economic data will likely keep up the theme of higher inflation and a sluggish manufacturing environment, interspersed with comments from Federal Reserve Chairman Ben Bernanke on how the Fed is handling its fix-it job.
A report on existing home sales starts off the week. Fewer already lived-in homes likely made it to a closing sale last month, say economists, who have used lackluster data on pending home sales as a guide. Home owners likely sold 4.8 million units in January. That seasonally adjusted annual rate would make for a nearly 2% decline from the prior month, says a MarketWatch consensus of economist estimates. See Economic Calendar
"Although mortgage rates are low relative to historical standards, the expectations of lower prices will probably keep many buyers on the sidelines for a time," Michael Moran, chief economist for Daiwa Securities America, wrote in a note Friday.
The pace of January new home sales, due out Wednesday, also likely slipped as convulsions in the credit market continued to make it too difficult or too expensive for borrowers to get some types of loans.
On Tuesday, the Labor Department will release its estimate on how wholesale inflation fared in January. After last week's surprise pickup in underlying consumer prices, economists are anticipating another toasty reading on inflation. Energy prices may have slid, some economists say. But agricultural and other commodity prices likely pushed up the index.
Economists polled by MarketWatch are anticipating the producer price index rose 0.4% in January, a reversal from December's drop. They expect underlying wholesale prices, or prices excluding food and energy, kept to a 0.2% growth rate.
"Most other price measures have shown acceleration in January, and we expect the core PPI to do the same," said economists Brian Bethune and Nigel Gault of Global Insight.
Wednesday brings another reading on the resilience of U.S. manufacturers in the face of slowing consumer spending.
Durable goods orders in January likely dropped 3.8% in January and reversed from December's surprise 5% gain. A lot of that swing in orders for big-ticket items has to do with Boeing Co.'s (BABoeing Co.
News, chart, profile, more
Delayed quote dataAdd to portfolio
Analyst
Create alertInsider
Discuss
Financials
Sponsored by:
BA) order book. The Chicago aircraft manufacturer closed out the year with an impressive surge in commercial airplane bookings. These dropped off in January, to 65 planes from 287 in December. Defense orders, which also boosted December's reading, are poised for a reversal as well.
With aerospace and defense orders providing some turbulence, economists will be digging through the numbers for one figure -- capital goods orders that exclude defense and aircraft -- that should give a better view of how the manufacturing sector is doing.
Friday's major report switches to the consumer, or rather the size of consumers' wallet. Personal income is expected to have inched up 0.2% in January, a slower pace than December's. The report on consumers' take-home pay, which includes income from dividends and rentals, will likely reflect weak readings from last month's employment report.
"Dividend income is likely to continue advancing, and rental income has increased briskly in recent months, but personal income in total will probably be restrained by the slow results for wages and salaries," said Daiwa's Moran.
With no pop expected from incomes, consumer spending is expected to have kept to a 0.2% pace. Economists are forecasting a retail inflation gauge in the same report, the core PCE index, to have accelerated to 0.3% from 0.2% in December.
Rising apparel and medical care prices likely boosted the inflation barometer to that "uncomfortably high" level last month, says Bank of America Corp. economist Peter Kretzmer. He forecasts that year-over-year, the core PCE index rose 2.2%, putting it near the upper end of the Fed's newly raised forecast for core inflation this year.
The Fed
Concerns over persistent increases in price growth, even stripping out volatile food and energy prices, are likely to feature in Fed comments over the week.
Bernanke headlines a cast of Fed speakers with testimony Wednesday before Congress. Investors will be listening for whether the Fed will keep its concerns over economic growth on the front burner and inflation worries on the back. Any sign that the Fed will take a break from its rate-cutting tactics because it's getting more worried about inflation is likely to lower market forecasts for more big rate cuts.
"The market is still pricing in a 50 basis-point Fed rate cut on March 18, but prospects for further hefty rate cuts through the spring are becoming cloudy," noted BMO Capital Markets economist Michael Gregory.
Since it started cutting rates, the Fed has lowered the fed funds rate by 2.25 percentage points to 3%. In just over one week in January, it slashed rates by 1.25 points.
In speeches and statements, Fed members have largely agreed that the downside risks to growth trump the dangers of inflation.
Minutes from the Federal Open Market Committee's January meeting, released last week, showed policy-makers ready to cut rates further if economic prospects sour more than they are expecting. They lowered their outlook for economic growth this year to between 1.3% and 2%, down from the 1.8% to 2.5% forecast in November. Still, policy makers said they found readings on inflation "disappointing."
"Although the downside risks to economic growth will continue to guide the Fed's policy hand ... a keener eye will be kept on inflation," predicted Gregory.
Laura Mandaro is a reporter for MarketWatch in San Francisco.
mykee888, any rebound is 4 u to sell on strength, esp stock like mems ! now u see ? once mr bear came, all across d board, FA or non FA, all hv to bow down !
Swap rcecap to liondiv ? sorry to tell u , u should do it earlier not now ! as posted , sold all my rcecap @0.795 is proven a right move , look at its price today ^V^
Someone asked me about gamuda whether worth to buy or not, pls refer to my previous posting under "gong xi fa cai " !
Dow up we down, what if dow down >100 points tonight ? dow down we up ?? or vice versa ? ha ha... all d best dudes ^V^
hi sifu sam,
i bought the public mutual fund, PBCPEF @ 0.25 NAV, got 45519.20 unit... now hang seng keep droping like no tomorrow,... yesterday NAV @0.1963, already -25.54 now, haha.
How if I sell all PBCPEF and swap to LIONDIV?
I got 3900 shares of LIONDIV, AVG @ 1.725
i believe sifu make it quite clear, "it might be bear coming", lower price can be lower, i was averaging down sunway once at 1.73 then give up after listening to Sam advice, looks at price now ^_^
with latest quarter report 2 Q at 10sen eps, assuming 4Q 20sen eps now selling at PE 7 for sunway, but i still do not dare to make the move, i might purchase the price of 0.7 in future..
hooo ... Finally completed majority of my qtrly works ...
Only 5 comments in a day in Samgang blog? Since when Samgang become so unpopular? ^_^
Seems like GE rally is not likely already ... preparing to sell off related stocks.
ben, already cut loss for d stock bought lately. will stay aside as sam instructed.
ben, yr tebrau is coming down, do u still holding it??
TL : FOR THE BEST DIRECTOR & BEST ACTOR....THE OSCAR GOES TO MR BERNANKE FOR HIS EXCELLENT WORK IN THE FILM " THE GOOD, THE BAD & THE UGLE ".
THE GOOD
U.S. stocks buoyed by relief over bond insurers
Existing home sales stronger than expected; Lowe's reports 33% profit drop
By Kate Gibson, MarketWatch
Last update: 4:49 p.m. EST Feb. 25, 2008
NEW YORK (MarketWatch) -- U.S. stocks rallied into Monday's close, spurred by news that Standard & Poor's reaffirmed the credit ratings of two key bond insurers whose financial outlook has been at the center of investor anxiety in recent months.
The late surge capped another volatile session that had the Dow Jones Industrial Average trading in a 240-point range, which included short detours into negative territory.
After managing only modest gains most of the day, the Dow Dow Jones Industrial Average shot up to its highs of the day late in the session after word hit that Standard & Poor's had affirmed the AAA rating of Ambac Financial Group Inc.'s bond insurance business and took the AAA rating of MBIA Inc.'s bond insurer unit off its CreditWatch.
The Dow rose 189.20 points, or 1.5%, to end at 12,570.22, with just one of its 30 components ending in the red.
"It was taking MBIA and Ambac off credit watch by S&P -- both names rallied and are taking the whole market with them," said Art Hogan, chief market strategist at Jefferies & Co.
MBIA, Ambac jump on positive S&P actions
Rating agency says bond insurers' efforts to raise capital bearing fruit
By Alistair Barr, MarketWatch
Last update: 3:47 p.m. EST Feb. 25, 2008
SAN FRANCISCO (MarketWatch) -- MBIA Inc. and Ambac Financial shares jumped on Monday, spurring a broader market rally, after Standard & Poor's took positive rating actions on their bond-insurance businesses and said the companies' efforts to raise capital are bearing fruit.
AAA rating, saying it has assessed the scope of the company's plan to raise new capital from a group of banks that are major counterparties to the bond insurer. The insurer's rating remains on CreditWatch with negative implications because the company's plans and risk profile are still uncertain, S&P added.
At the same time, the ratings agency took MBIA's (MBI
MBIA Inc AAA rating off CreditWatch because of the company's success in boosting its claims paying resources by $2.6 billion recently.
MBIA's moves are "a strong statement of management's ability to address the concerns relating to the capital adequacy of the company," S&P said in a written statement.
Ambac shares jumped 13% to $12.10 during afternoon trading, while MBIA shares surged 19% to $14.49.
After the S&P statement came out, blue-chip stocks saw a spike higher. At last check, the Dow Jones Industrial Average was up 200 points at a session high of 12,577.Ambac and MBIA have been trying to raise capital to preserve their AAA ratings. Without those top ratings, their businesses may be imperiled.
A group of eight banks that are major counterparties to Ambac is close to injecting new capital into the insurer, two people familiar with the situation said on Friday. The plan could raise $3 billion in new capital, according to a Wall Street Journal report.
"If this proposal comes to fruition, this shows that the market is really working. We're awaiting the final steps," said Wisconsin Insurance Commissioner Sean Dilweg, who regulates Ambac's bond insurance unit. "This S&P AAA affirmation agrees with everything that we've seen so far."
THE BAD
U.S. Economy: Home Resales Fall to Nine-Year Low (Update1)
By Courtney Schlisserman
Feb. 25 (Bloomberg) -- Sales of existing homes in the U.S. fell in January to the lowest level since records began nine years ago and prices slid for the sixth time in seven months, posing a threat to consumer spending, the largest part of the economy.
Resales declined 0.4 percent, less than forecast, to an annual rate of 4.89 million from a revised 4.91 million in December that was higher than previously reported, the National Association of Realtors said today in Washington.
The figures indicate declines in home prices so far aren't sufficient to entice more buyers. Former Federal Reserve Chairman Alan Greenspan said today that the deepening rout in housing is having a ``broader effect'' on spending, and that a recession this year may be deeper than previous downturns.
``The Federal Reserve's efforts to restore the mortgage market so credit is available so people can buy houses has largely failed,'' Peter Morici, an economics professor at the University of Maryland, said in a Bloomberg Radio interview. ``There really isn't a lot of hope that things are going to turn around soon.''
Economists had forecast home resales would fall 1.8 percent to an annual rate of 4.8 million, according to the median of 63 estimates in a Bloomberg News survey. Estimates ranged from 4.65 million to 5 million.
The Standard & Poor's Supercomposite Homebuilding Index, which had fallen earlier in the day, rose following the report. The measure was up 2.2 percent to close at 347.38. Treasuries fell, with 10-year note yields rising to 3.90 percent at 4:18 p.m. in New York, from 3.81 percent on Feb. 22.
Unsold Properties
Mounting foreclosures are adding to a glut of unsold homes that is driving down property values. The number of homes for sale at the end of January rose 5.5 percent to 4.2 million. At the reported sales pace, that represents 10.3 months' supply, compared with 9.7 months in December.
``The past five months' sales activity has been very soft, but stable,'' said Lawrence Yun, the real-estate agents group's chief economist. A fiscal stimulus that included tax cuts and relaxed restrictions on so-called jumbo mortgage loans may lead to better sales late this year, he said.
Elevated inventories are driving down prices and causing some potential buyers to stay on the sideline to see if prices will go down further.
Prices Fall
The median sales price fell 4.6 percent to $201,100 from January 2007. The median cost of a single-family home decreased 5.1 percent to $198,700, while that of condominiums and co-ops fell 1 percent to $220,400.
``The general trend is down, especially in home sales,'' Anirvan Banerji, director of research for the Economic Cycle Research Institute in New York, said in a Bloomberg Television interview. ``There is quite a bit of overhang in inventory.''
``There is more adjustment that is required'' in housing, Greenspan told a conference in Abu Dhabi, United Arab Emirates, today. ``There is a broader effect on consumer expenditures.''
Resales fell in three of four regions, led by a 3.6 percent drop in the Northeast. They declined 2.1 percent in the West and 0.5 percent in the South. Sales were 3.4 percent higher in the Midwest.
Sales of single-family homes increased 0.5 percent to a 4.34 million pace from a 10-year low in December, according to today's report. Sales of condos and co-ops fell 6.5 percent to an annual rate of 550,000.
Inventory Glut
Housing ``is going to be subdued'' until inventories are reduced, Federal Reserve Bank of Minneapolis President Gary Stern told reporters Feb. 19 after a speech in Golden Valley, Minnesota.
The effects of the worst housing recession in 25 years have spread into other areas of the economy. The Fed Bank of Philadelphia's general economic index fell this month to minus 24, the weakest reading in seven years.
Economists surveyed by Bloomberg News earlier this month put the chance of the U.S. entering a recession at 50-50, up from 40 percent odds a month earlier.
The Fed last week said it lowered its growth forecast and now expects the economy to expand 1.3 percent to 2 percent in the fourth quarter from the same period of 2007, compared with the 1.8 percent to 2.5 percent it projected in October.
The Commerce Department is scheduled to release the January report on new home sales on Feb. 27. While economists forecast a decline, some measures indicate demand for new homes may be near the bottom.
Builder Confidence
For example, confidence among U.S. homebuilders rose for a second straight month in February and companies said there were more prospective buyers touring properties, the National Association of Homebuilders said on Feb. 19. In addition, the Reuters/University of Michigan index of consumer sentiment showed a record number of Americans said lower home prices made home buying conditions favorable.
``We're seeing prices now that are basically back to '02, '03 levels,'' Ara Hovnanian, chief executive officer of Hovnanian Enterprises Inc., said in a Bloomberg Television interview on Feb. 21. ``That begins to get compelling for customers.''
Even so, the housing market ``continues to be in a very difficult position right now,'' and weaker sales are cutting into builders' profits, Hovnanian said.
Lowe's Cos., the world's second-largest home-improvement retailer, forecast full-year earnings less than analysts' projections after reporting a drop in sales and profits in the fourth quarter.
To contact the reporter on this story: Courtney Schlisserman in Washington at cschlisserma@bloomberg.net
Last Updated: February 25, 2008 16:24 EST
THE UGLY
More top economists see recession
45 percent predict downturn this year, up from one in four last September
The Associated Press
updated 4:54 p.m. ET Feb. 25, 2008
WASHINGTON - Job growth is faltering, consumer confidence plunging. The fallout from the worst housing slump in a quarter-century grows. Wherever you look, the signs are unmistakable that the economy is in trouble.
Because of all the bad news, more and more economists foresee the country falling into a recession, according to the latest survey by the National Association for Business Economics.
The group said in a report being released Monday that 45 percent of the economists on its forecasting panel expect a recession this year. In September, only one in four economists was pessimistic enough to put the chance of a recession at 35 percent or higher.
The drumbeat of bad news since last fall has caused many analysts to consider a recession more likely now, said Ellen Hughes-Cromwick, chief economist at Ford Motor Co. and NABE's current president.
The survey shows that 55 percent still believe the country will be able to skate by without falling into an actual downturn, typically defined as two consecutive quarters of declines in the gross domestic output, the broadest measure of economic health. All the analysts, however, expect growth to slow considerably this year.
The forecasters believe GDP will expand by 1.8 percent this year, which would be the weakest growth in five years. That compares with an estimate of 2.5 percent growth for 2008 made in the previous survey, in November.
The new estimate is in line with a downgraded forecast from the Federal Reserve this past week.
The NABE forecast reflects the expectation the economy will grow only sluggishly or actually contract from January through June. Then it is seen starting to expand more strongly in the second half of the year. Helping accomplish that is a $168 billion federal aid plan, with its rebate checks for millions of families, and aggressive interest rate cuts from the Fed.
The panel of 47 top forecasters thinks "any recession, if it occurs, will be short and shallow," Hughes-Cromwick said.
The biggest change in the new survey involves the outlook for interest rates.
In November, economists expected the Fed would keep a key rate, the federal funds rate, at 4.5 percent through all of 2008. That rate, the target for overnight bank loans, already is at 3 percent, after significant cuts by the Fed in January. Fed Chairman Ben Bernanke has indicated that further rate cuts will be coming if the economy fails to rebound.
So the NABE experts now predict the funds rate will end this year at 2.5 percent.
Inflation is expected to moderate greatly this year as the weak economy cools price pressures. Inflation shot up by 4.1 percent in 2007, the biggest jump in 17 years.
The Consumer Price Index is forecast to rise by 2.5 percent. That is based in part on the NABE panel's view that demand will weaken for oil and the barrel price will drop to about $84 by December. The current trend, however, is up; crude oil jumped to all-time highs above $100 per barrel over the last week.
The weaker growth will mean higher unemployment, according to the forecasters. They predict that the jobless rate for 2008 will average 5.2 percent, compared with 4.6 percent last year.
Mark Zandi, chief economist at Moody's Economy.com and a NABE panelist, said he believed the economy entered into a recession in December and it will pull out of the downturn in June, aided by the rebate checks that begin going out in May.
If problems worsen for the financial industry, hard hit by the housing downturn, then Zandi said Washington will rush through a second rescue measure because nervous politicians will not want to be seen as dawdling before the November elections.
"A recession in an election year represents a problem for incumbents," Zandi said. "That is why the first stimulus package got passed so quickly and that is why I expect more of a policy response before this is all over."
A second panel member, David Wyss, chief economist at Standard & Poor's in New York, also believes the country is now in a recession. While he believes the economic aid plan signed by President Bush should make the downturn a mild one, he worries the economy could falter again next year.
"There is a danger that this could turn into a double-dip recession," he said. "Once the rebate checks are spent, we could go back down again."
The latest NABE forecast, however, shows the economy continuing to grow in 2009. It predicts a modest GDP increase of 2.7 percent for the whole year, compared with the 1.8 percent expected this year and the 2.2 percent actual GDP growth in 2007.
(c) 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
URL: http://www.msnbc.msn.com/id/23321810/
$ifu $am, may b not many people realise SSEX is going down day by day n now is < 4200 wonder if she "sneezes" again d regional markets would react negatively.
as 4 me, like u said " Stay aside n yan yan yan..." Waiting 4 ur "BUY" signal!
All d best everybody.
Btw, did u watch Thomas cup preliminary Final between M'sia n Korea ? Eventhough M'sia won but what a shamful performance by our doubles!
TL : OH MY GOD !
(WHY CAUSE OF ALARM SO EARLY ? MR FED SO MANY TIMES REPEATEDLY SAYING THAT USA IS NOT IN FULL BLOWN RECESSION....JUST ONI EXPERIENCING SLOWER GROWTH WHAT. BANKS ALREADY STARTED TO FORM CONSORTIUM TO BAIL OUT AMBAC - BOND INSURER, AND THINGS LOOKING PRETTY IN SHAPE NOW. DOW IS RALLYING....
TL : IS IT TOO EARLY TO PRESS THE PANIC BUTTON, MR FED ?
FDIC Readies for a Rise in Bank Failures
By Damian Paletta
WASHINGTON -- The Federal Deposit Insurance Corp. is taking steps to brace for an increase in failed financial institutions as the nation's housing and credit markets continue to worsen.
The FDIC is looking to bring back 25 retirees from its division of resolutions and receiverships. Many of these agency veterans likely worked for the FDIC during the late 1980s and early 1990s, when more than 1,000 financial institutions failed amid the savings-and-loan crisis.
FDIC spokesman Andrew Gray said the agency was looking to bulk up "FOR PREPAREDNESS PURPOSES." The division now has 223 employees, mostly based in Dallas
SIFU SAM,
WHAT DO U THINK ABOUT LIONDIV QE?
TQVM....
Post a Comment