Just as the investors are harvesting their 40% gains in the stock market, rumors rise in The Street that bull market is finished, and the recovery anxiety is over. FedEx missed expectations. Technical indicators are pointing downward. And the popular Roubini, nicknamed Dr. Doom, bringing up fundamentals. Everything looks pretty grim, what else?
Tight credit has been the buzzword for months. Banks and other traditional sources for financing are scrambling to get capital to lend. But there are financing companies sitting on a pile of cash right now. The private equity industry has been on a pace to break records by raising $222.6 billion funds over the first nine months of 2008 (that's up over 11% from last year). Although most PE firms are currently standing still due to declining valuations, many are actually active providing capital to startups, distressed, and expanding companies.
As the real estate crisis and slumping economy continue to squeeze homeowners, many have sought to escape their mortgages by conducting a short sale of their properties. A short sale is a transaction whereby the owner sells his home for a lower amount than what is owed. The lender must accept the deal, and stories have been circulating of buyers and sellers waiting several months before hearing a decision from the bank. So, is this technique the best answer?
As the Fed dropped federal funds rates to nearly 0%, homeowners were given a way to save money. Freddie Mac reported that the national average rate for 30-year, fixed rate mortgages was 5.19% for the week ending December 18. That's the lowest rate since the mortgage underwriter began keeping records 37 years ago. Banks all over the US have seen a surge in requests for refinancing.
According to the Bureau of Labor Statistics' report for November, both the number of unemployed Americans (10.3 million) and the unemployment rate (6.7%) continued to increase in the US. The job-related effects of the recession have likely not ended say many analysts and the cuts have come from both goods-producing industries - down 163,000 jobs - and service-providing companies (lob losses of 370,000). So what should you do if you're let go?
Roth IRA, Keogh, 457, Traditional, 401K, SEP, 403B, Extended, French fried-what's the difference? Why is it all so complicated? The answer to the second question, of course, is simple. The government invented IRAs. Did you really expect the rules to be comprehensible? But since those rules are integral to planning retirement, here's a brief summary of the different retirement plans available. read more ...
Just as the investors are harvesting their 40% gains in the stock market, rumors rise in The Street that bull market is finished, and the recovery anxiety is over. FedEx missed expectations. Technical indicators are pointing downward. And the popular Roubini, nicknamed Dr. Doom, bringing up fundamentals. Everything looks pretty grim, what else?
Tight credit has been the buzzword for months. Banks and other traditional sources for financing are scrambling to get capital to lend. But there are financing companies sitting on a pile of cash right now. The private equity industry has been on a pace to break records by raising $222.6 billion funds over the first nine months of 2008 (that's up over 11% from last year). Although most PE firms are currently standing still due to declining valuations, many are actually active providing capital to startups, distressed, and expanding companies.
As the real estate crisis and slumping economy continue to squeeze homeowners, many have sought to escape their mortgages by conducting a short sale of their properties. A short sale is a transaction whereby the owner sells his home for a lower amount than what is owed. The lender must accept the deal, and stories have been circulating of buyers and sellers waiting several months before hearing a decision from the bank. So, is this technique the best answer?
As the Fed dropped federal funds rates to nearly 0%, homeowners were given a way to save money. Freddie Mac reported that the national average rate for 30-year, fixed rate mortgages was 5.19% for the week ending December 18. That's the lowest rate since the mortgage underwriter began keeping records 37 years ago. Banks all over the US have seen a surge in requests for refinancing.
According to the Bureau of Labor Statistics' report for November, both the number of unemployed Americans (10.3 million) and the unemployment rate (6.7%) continued to increase in the US. The job-related effects of the recession have likely not ended say many analysts and the cuts have come from both goods-producing industries - down 163,000 jobs - and service-providing companies (lob losses of 370,000). So what should you do if you're let go?
Financial
Dow
8280.74 