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Aug 29, 2009

Coming Commercial Real Estate Collaspe- NOTHING can prevent NEXT real estate crash?!?!

Personal Finance Daily
AUGUST 29, 2009

The week's top Personal Finance stories

By MarketWatch

In case you missed them, here are the top 10 Personal Finance stories from MarketWatch for the week of Aug. 24-28:

How a CHAT can forge health-reform consensus

What is health care, and how much of it should be covered by communal dollars in a private or public health plan? Contrary to the shouting matches that broke out in some town-hall meetings earlier this month, Americans tend to be circumspect when considering what health insurance should cover in a basic plan, especially when they're engaged in a meaningful discussion of the trade-offs, health-policy experts say.
See Vital Signs.

Contribution limits for 401(k)s and other plans may decrease next year

It's starting to seem like retirees and those saving for retirement can't catch a break. First comes news that there won't be any cost-of-living increase for Social Security beneficiaries in 2010. Next we learn that beer prices are rising. And now we find that the maximum amount that you're allowed to contribute to your retirement plans may decrease next year.
See Robert Powell.

How to escape foreclosure in the face of a layoff

Few words sting like the ones that inform you that you're being laid off -- especially today, with jobs so hard to come by. If you're a homeowner, the blow of a job loss can be even worse.
See full story.

How to deal with a cut to your home-equity line

I believe that I have a viable claim against a lender for wrongful suspension of my home-equity loan. Please let me know if you can recommend a competent attorney who regularly handles these types of consumer cases.
See Realty Q&A.

New credit scoring model may boost some borrowers' scores

Even the most responsible borrowers slip up sometimes. Maybe a utility bill went unpaid after you moved and the missed payment went into collections. Or, perhaps there are unpaid library fines or parking tickets in collections that are hanging onto your credit history and affecting your FICO credit score, which is widely used by lenders to evaluate your ability to repay a debt.
See full story.

Regulatory rumblings hit commodity ETFs, ETNs

Exchange-traded funds and notes that give investors exposure to commodities-futures markets have come under fire from regulators, forcing investment managers to take unusual steps to prepare for a potential crackdown on position limits.
See ETF Investing.

Citi makes progress on foreclosure prevention

Citigroup helped 108,000 mortgage holders avoid foreclosure in the second quarter, a nearly 30% increase over the volume of borrowers it helped in the first quarter, the company said Tuesday.
See full story.

Dismantle Bernanke's 'Happy Conspiracy' ... now!

At last week's annual Jackson Hole meeting of Fed execs, Boss Ben Bernanke's braggadocio about saving the world from another Great Depression had the feel of an egomaniacal dictator trying to cement his legacy in history.
See Paul B. Farrell.

Getting a fair credit-card deal? Priceless

Lisa in Boston is at wit's end. A few years back, she consolidated all of her outstanding debts -- including her remaining student loans -- onto a low-rate credit card that promised a rate of roughly 5% for the life of the loan.
See Chuck Jaffe.

Consumers can't yet count on companies to protect their data from identity theft

It happens all the time: You swipe a credit card to buy a new pair of jeans, pay for a fancy dinner or withdraw some cash. Each time a transaction occurs, a flurry of digits and codes moves from one location to another. And each time, you're putting your financial data in jeopardy.
See full story.

See the week's Top 10 news and analysis stories.

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NFA Bars Boca Raton Firm, Pioneer Commodities LLC

For Immediate Release

For More Information Contact:
Larry Dyekman (312) 781-1372,
Karen Wuertz (312) 781-1335,

NFA bars Boca Raton firm, Pioneer Commodities LLC for misrepresentations

August 28, Chicago - National Futures Association (NFA) has permanently barred from NFA membership Pioneer Commodities LLC (Pioneer), an Introducing Broker located in Boca Raton, Florida. Pioneer's principal, Anthony S. Bobba, has been barred from NFA membership for a period of 24 months and from acting as a principal of an NFA Member for a period of 36 months. Bobba must pay a fine of $25,000 in the event that he reapplies for NFA membership after the 24 month bar. The Decision, issued by an NFA Hearing Panel, is based on an NFA Complaint filed in March 2009 and a settlement offer submitted by Pioneer and Bobba.

The Panel found that Pioneer and Bobba made misrepresentations to the Series 3 Examination testing service by requesting additional time for several of Pioneer's prospective associated persons (APs) to take the Series 3 Exam on the purported ground that English was not the primary language of these prospective APs. In truth, English was the primary language of many of these prospective APs. The Panel also found that Pioneer and Bobba failed to adequately supervise the firm's Series 3 training and the individual who provided the training. Pioneer and Bobba claimed that they simply accepted the trainer's word that English was not the primary language of the prospective APs for whom additional time was requested. The Series 3 is a proficiency exam that all individuals seeking NFA membership or registration as an AP must pass.

The complete text of the Complaint and Decision can be found on NFA's website (

NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the futures markets.