Wednesday, September 24, 2008
Wednesday, September 17, 2008
$ markets
.Extrao*rdinary even*ts are piling *up on Wall Stre*et so fast, it's hard to know *where to focus. Forgetting the prospective bailout of AI*G for a mome*nt, since every m*edia outlet is on that one, t*he most s*hocking de*velopment of the day for me is news that a $*60 billion money .market *fund "broke the buck" on *Monda*y due to lo*sses *in Lehman Bro*thers paper that it held. So much for the safety of "c.ash".
Wow.☺
The Reserve Primary Money Fund *(RPFXX) has be*come the first money-market f*und in .more than **a decade to *lose money because its board was *forced to write down $785 million worth of *LEH debt to zero. The fund. has re*portedly s*een assets* plunge by 60% to $23 billion i*n the past two da.ys after ho.lders g.ot wind of the fact that it would have* to cut its net asset value to less than it*s usual $1 per share. *☺
R.eserve Prim..ary, which is on*e of th*e oldest money market fun*ds in the country, is now trading at **97 cents, although it is s**howing up on the MSN Money site at $1. Its founder is considered the father of the **money market fund, and he *was one of the last holdouts *against buying hig**her-yieldi.ng commercial *paper* rather than super-safe Treasuries. The company said in its that it would suspend redempti.ons for seven day*s while it tries to straighten things out.
Dirty. ☺
To rev*iew its most r**ecen*t list of holdings, see its *q*uarterly SEC filing here.
While the los*s of 3 cents doesn't sound like much, you* need to keep in mind that money market fund*s are whe*re people put *mo.ney when they don't w.ant to lose anything. They are supposed to be the safest of t**he safe. Most. pay interest of around 1% .to 2.5%, depending on the type of paper that they hold.
ouch.☺
Mone**y market funds were the center of attention a year ag*o when it turned out that *they were heavy buy*ers of a special type of paper from "structured investment veh.icles" set* up by banks like Citigr*oup. Those SI*Vs were issuing high-yiel*d paper because they held CD*Os loaded with subprime paper. As the subprime paper began to fail, the CD*Os collapsed, leaving money market fund******s in danger. *But their finances were .shored up by their pare*nt comp*anies, and all was well un.til this week.
☺
For more on the trouble.s with money market* funds last winte.r, s*ee my Dec. *31, 200*7 c.olumn "Your 'safe' money isn't so saf*e
Wow.☺
The Reserve Primary Money Fund *(RPFXX) has be*come the first money-market f*und in .more than **a decade to *lose money because its board was *forced to write down $785 million worth of *LEH debt to zero. The fund. has re*portedly s*een assets* plunge by 60% to $23 billion i*n the past two da.ys after ho.lders g.ot wind of the fact that it would have* to cut its net asset value to less than it*s usual $1 per share. *☺
R.eserve Prim..ary, which is on*e of th*e oldest money market fun*ds in the country, is now trading at **97 cents, although it is s**howing up on the MSN Money site at $1. Its founder is considered the father of the **money market fund, and he *was one of the last holdouts *against buying hig**her-yieldi.ng commercial *paper* rather than super-safe Treasuries. The company said in its that it would suspend redempti.ons for seven day*s while it tries to straighten things out.
Dirty. ☺
To rev*iew its most r**ecen*t list of holdings, see its *q*uarterly SEC filing here.
While the los*s of 3 cents doesn't sound like much, you* need to keep in mind that money market fund*s are whe*re people put *mo.ney when they don't w.ant to lose anything. They are supposed to be the safest of t**he safe. Most. pay interest of around 1% .to 2.5%, depending on the type of paper that they hold.
ouch.☺
Mone**y market funds were the center of attention a year ag*o when it turned out that *they were heavy buy*ers of a special type of paper from "structured investment veh.icles" set* up by banks like Citigr*oup. Those SI*Vs were issuing high-yiel*d paper because they held CD*Os loaded with subprime paper. As the subprime paper began to fail, the CD*Os collapsed, leaving money market fund******s in danger. *But their finances were .shored up by their pare*nt comp*anies, and all was well un.til this week.
☺
For more on the trouble.s with money market* funds last winte.r, s*ee my Dec. *31, 200*7 c.olumn "Your 'safe' money isn't so saf*e
*Lehman-
*As one examples, consder that LehmIn was one of the TEN biggest dealers in the world of a type of widely p opular bondinsurance in*strument called credit- default- swaps-, or CDSs, which meant /they were the middleen between 2 entities- abuyyer and a seller -- that didn't know each -other. CDSs -allow -bodholders to hedge against, the possibility that their securit*y will default a*d allow speculators! to bet on the posibility of bond defaults.. It's one of the largest types of instruments in th eworld, with a total of about $60.00 trillion in nominal- value, but also the least regulate d.
Tuesday, September 16, 2008
Monday, September 15, 2008
Saturday, September 13, 2008
Quiclaim deed
*In order to protect the_mselves, *some homeowners require that the buyer-* make their monthly payments/ into an escrow account *held by a *bank or other lending inst-*itution, and they requi/re the /borrower to p*lace a Quit Claim De/ed into the esc*row account with instruct*ions that if a payment is late by a certain* number of days then the esc*row officer will automat*ically file the *Quit Claim -Deed, restoring the hous*e to the for-mer owner i*nstantly.
Friday, September 12, 2008
The Classroom 7984 Mainland San Antonio, Tx
Ladies fix it yourself...or learn how you can. What an awesome concept of community helping community. 210-219-1316 or 210-885-1338 will get you the line to set up a self-help course.
Home repair classes are a good idea and we hope that the real estate call center can help
promote this wonderful community activity. http://www.therealestatecallcenter.com
210-286-9289
Home repair classes are a good idea and we hope that the real estate call center can help
promote this wonderful community activity. http://www.therealestatecallcenter.com
210-286-9289
I really dislike car dealers.
I have a 2005 honda civic with 45k miles. I owe 4000.00 on it. The dealer wanted to give me 800.00 for the trade in. I have seen it advertised for 11 or 12 thousand. I dislike the car dealers so much I have created www.carflix.net If you want to advertise on the web, I will do it cheap...just for spite. San Antonio, 210-286-9289 joe
Wednesday, September 10, 2008
Sunday, September 7, 2008
BARCAMP 1-800-123-4567
WWW.BREWINGMEDIA.COM
WWW.LABELNET.COM
WWW.DROPTHEBEAT.TV
WWW.DOINGMEDIA.NET
WWW.SOUTHTOWN.NET
WWW.THEREALESTATECALLCENTER.COM
WWW.COGNITIVEPATH.COM
WWW.MEDIARICH.NET
WWW.CAMPAIGNSTREAM.COM
Tuesday, September 2, 2008
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