Who is the Bankruptcy Trustee?
When a debtor files for bankruptcy under chapter 7 or 13 of the U.S. Bankruptcy code a “bankruptcy trustee” is appointed by the US trustee. In certain Jurisdictions there are different titles given to the “bankruptcy trustee” but the purpose is the same. Since the US Trustee is unable to personally handle each and every […]
Large mortgage lenders off the hook?
Thanks to Jean Eaglesham for his article in the Wall Street Journal on page B1, printed on August 6, 2011 entitled “Criminal Mortgage Probes Fizzle Out”. During the 2005 and 2006 mortgage boom period that led to our recession Wamu, Indymac and New Century made about 25% of these home loans. The lending and accounting […]
How should I invest in the stock market in the recession?
Thanks to Dave Kansas for his article in the Wall Street Journal on August 5, 2011, page C1 entitled “Time to Panic? Just the opposite” Even as stock prices continue to plunge this week it seems that S&P 500 companies are still running strong. That is, having record years. While new investment strategies are probably […]
Stocks take a nose dive across the board!!
Thanks to Tom Lauricella from the Wall Street Journal article “Stocks Nose-Dive Amid Global Fears” on page A1, August 5, 2011. On Thursday August the 4th stocks continued to fall across the board. This is the worst point for stocks since the financial crisis of December 2008. The dow fell over 512 points and […]
Mutual Funds suffering in economy
Thanks to John Kell for his article in the Wall Street Journal article on August 4, 2011 on page C9, entitled “Fund Assets Decline”. This week investors have been pulling money out of long term mutual funds in each category. Assets in money market funds fell approximately $103,021,000,000 in the past week. This is the […]
Pensions cut in Rhode Island through Bankruptcy
Thanks to Michael Corkery of the Wall Street Journal for his article entitled “Bondholders Win in Rhode Island” on Page C1 on August 4, 2011. Central Falls, Rhode Island, is the second city in the US to file for Chapter 9 Bankruptcy. Chapter 9 Bankruptcy protection is a provision in the Bankruptcy code that gives […]
What can Entrepreneurs do after bankruptcy?
Thanks to A.D. Pruitt for his Wall Street Journal Article entitles, “Malls Make Room for Start-Ups” in the August 3, 2011, page C10. In many malls across the U.S. mall owners are not waiting for big box retailers to lease space but are instead leasing to small independent business owners. Kiosks are one big source […]
Banks learn to hang on to money
Thanks to Jason Dean in Beijing, Martin Vaughan in Singapore and Richard Bourdeaux in Moscow for their August 3, 2011 Wall Street Journal on Page C3 entitled “Central Banks Join Rush to Gold”. In the midst of what appears to be a worldwide recession Central Banks are increasing their gold reserves and relying less on […]
Stock markets plummet but gold still increases in value
Thanks to Jason Dean in Beijing, Martin Vaughan in Singapore and Richard Bourdeaux in Moscow for their August 3, 2011 Wall Street Journal on Page C3 entitled “Central Banks Join Rush to Gold”. In the midst of what appears to be a worldwide recession Central Banks are increasing their gold reserves and relying less on […]
Victims of Improper Bank Foreclosures May Have Help
Thanks to Dan Fitzpatrick of The Wall Street Journal for his August 3, 2011, article, page C3 “Bank of America in Loan-Foregiveness Talks”. As many of you probably know there has been heated litigation concerning mortgage foreclosures in the past several years. Clever foreclosure defense attorneys have been raising arguments like lack of standing and […]