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Mar 5, 2010

Gerald Celente: Hedge Funds Affecting The EURO, From Gerald Celente Blog Published on March 4th, 2010

From The Desk Of Nick Nicolaas: Weekly "Zeal Intelligence Newsletter on the Mining Interactive Website"

Dear Friends:
Adam Hamilton has posted his weekly Zeal Intelligence Newsletter on the Mining Interactive Website. Click here:
Have a great weekend and - - - Stay Tuned!!

Nick L. Nicolaas
Mining Interactive Ahead of the Pack
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Mining Interactive Corp.
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CNBC: Evening Brief, March 5th, 2010


»click here to see the latest top stories from

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MarketWatch: Weekly Roundup, March 5th,2010, Top Stories

Weekly Roundup
MARCH 05, 2010

MarketWatch's top stories: March 1-5

By MarketWatch

March came in like a lion for the markets, as the Dow added more than 120 points Friday to cap a 2% gain for the week and close at its highest level of 2010. Investors were cheering an employment report that showed an economy poised to start adding jobs soon.

While the Dow Jones Industrial Average (DJIA) was advancing 122.06 points, or 1.2%, to 10,566.2, leaving it 2.3% higher for the week, the S&P 500 Index (SPX) climbed 15.73 points, or 1.4%, to 1,138.7, for a weekly advance of 3.1%, and the Nasdaq Composite (COMP) gained 34.04 points, or 1.5%, to 2,326.35, up 3.9% from its week-ago close.

Please click through our site over the weekend and check out features that show just how far stocks have come in the year since their bear-market low, and what investors can expect as we enter the second year of a bull market.

And on the lighter side, don't forget the Oscars, as we lay out 10 must-have winners for your DVD collection.

Please have a look at our weekly preview videos, too:

 U.S. Week Ahead: Anniversaries.

 Asia's Week Ahead: China Economy, Thailand Rates.

 Europe's Week Ahead: EADS, Lufthansa in Focus.

-- Greg Morcroft , assistant managing editor

Chile battered by major earthquake

An 8.8-magnitude earthquake, the fifth most severe in more than a century, struck Chile early Saturday, Feb. 27, killing as many as 1,000 people, collapsing structures and throwing the South American country into turmoil. Read MarketWatch story on Chile quake. Read MarketWatch's story on the Chile quake.

U.K.'s Prudential buying AIG unit, as AIG pays down debt to U.S.

Britain's Prudential on Monday agreed to buy American International Group's (AIG) Asia operations for $35.5 billion in cash and shares in a deal that will make it the leading insurer in Southeast Asia and allow the U.S. insurer to pay back a sizable chunk of U.S. government assistance. Further, the prospect of earnings and lower taxes could attract new investors. Read MarketWatch's story on the AIG-Prudential pact.

Buffett trounces mutual funds

Only two funds even come close to producing the 20% annual, compounded return that Warren Buffett has generated over the last 45 years: Fidelity Magellan and Templeton Growth. Ten thousand dollars invested with Buffett (BRKA) on Oct. 1, 1964 -- equivalent to about $60,000 in today's dollars -- would now be worth about $80 million. Read MarketWatch's story on how mutual funds stack up with Berkshire and Buffett.

Unemployment rate holds near 10% as data flash some positive signs

U.S. unemployment remained at 9.7% in February, but job losses were smaller than had been expected, ending a week that saw several emerging bullish data points on the labor front. Temporary-help jobs, a sign of future hiring, rose by 48,000, pushing the total increase in that category to 284,000 since September. Read MarketWatch's story on the unemployment report.

Bond buyers help Greece buy time

The Greek government appears to have bought itself some time as it attempts to convince credit markets it can meet its debt obligations and get its budget under control in the face of strikes and protests. However, over the longer term, Greece will be hard pressed to cut the nation's 10-year yield spread over German sovereign debt to around two percentage points, a level targeted by Greek officials. Read MarketWatch's story on Greece's bond issue.

Citi CEO thanks public, but gets a dressing down

Citigroup (C) should concentrate on breaking itself up so no part of the bank's collapse could plunge the markets into a financial crisis, a government watchdog told Chief Executive Vikram Pandit. Pandit, for his part, said Citi has taken measures to rein in risk, and thanked the taxpayer for bailing out the bank. Read MarketWatch's story on the Citigroup CEO's testimony before the Tarp panel.

Starbucks snared by gun-law brouhaha

Starbucks (SBUX) reluctantly put itself at the center of the national gun debate this week, saying that it will allow customers to openly carry firearms in its stores, as long as they comply with local laws. The decision spurred an outraged response from a leading antigun group. See MarketWatch story on Starbucks and open-carry handguns.

Obama urges Congress to pass health reform

President Obama told Congress it should "finish its work" on health-care reform, signaling that he wants an overhaul bill to soon be completed through the reconciliation process, a tactic being decried by Republicans. Obama said a health overhaul deserves the same kind of up-or-down vote that was cast on issues like welfare reform and tax cuts under President George W. Bush. Read MarketWatch story on Obama's call for a final health-care-reform vote.

What the heck is reconciliation?

Reconciliation is a fast-track legislative maneuver that is used to stop filibusters in the Senate. Under normal rules, any senator can speak endlessly -- or filibuster -- on any bill, amendment, nomination or motion. Normally, a filibuster can be stopped only when 60 senators vote to end the debate. Read full story on the Senate's reconciliation process.

Senate seeks bipartisan financial-reform deal

Senate Banking Committee Chairman Christopher Dodd is considering a proposal offered by a key Republican to set up a new consumer-protection division within the Federal Reserve. If agreed to, it would mark a significant step toward a breakthrough on sweeping financial regulatory reform legislation. Read MarketWatch story on consumer financial reform.

Evening Market Wrap

Evening Market Wrap Fri Mar 5 17:01 2010 


Mar 5, 2010 Wall Street Posts Moderate Gains Ahead Of Monthly Jobs Report Stocks rose by moderate margins on Thursday, seeing late-day buying as the markets looked to the silver lining in today's mixed economic data and prepared for tomorrow's monthly jobs report. The major averages all closed in positive territory, finishing the day at six-week closing highs. The Dow rose by more than 47 points after posting a 9-point loss in the previous session. Full Article
Mar 5, 2010 Stocks Rally As February Job Losses Come In Narrower Than Forecast - U.S. Commentary Stocks rose by substantial margins on Friday, as news that the U.S. economy shed fewer jobs than expected in February fueled buying interest. The major averages showed notable upward moves on the day, with the Nasdaq reaching its best closing level in well over a year. Full Article

Economic News

Mar 5, 2010 Employment Shows Only Modest Drop In February Despite Snowstorms Despite the impact of severe winter weather in parts of the country, payroll employment showed a relatively modest decrease in the month of February, according to a report released by the Labor Department on Friday. The report showed that non-farm payroll employment fell by 36,000 jobs in February following a revised decrease of 26,000 jobs in January. Economists had expected a more substantial loss of about 68,000 jobs compared to the loss of 20,000 jobs originally reported for the previous month. Full Article

Corporate News

Mar 5, 2010 Tim Hortons Brewing Higher 2010 Profit, 900 More Stores By 2013Rapidly expanding coffee and doughnut chain Tim Hortons Inc. (THI, THI.TO) on Friday forecast an increase in earnings for 2010. Beyond 2010, the company, which is an instistution in Canada and Western New York, expects to achieve earnings per share growth of 12%-15% on a compound annual average growth rate basis from 2011 to 2013. Full Article
Mar 5, 2010 Facebook IPO - Not Now But When? There has been much speculation about social networking site Facebook going public since 2007. However, with Mark Zuckerberg, the CEO of Facebook, in no hurry to take the company public, it appears that there is going to be a further delay in the IPO. Full Article
Mar 5, 2010 RCN Agrees To Be Taken Private By ABRY Partners For About $1.2 Bln.Broadband and cable television services provider RCN Corp. (RCNI) announced Friday that its has agreed to be acquired by an investment fund managed by privately equity firm ABRY Partners LLC for about$ 1.2 billion, including the assumption of debt. The transaction, which is subject to stockholder and regulatory approvals, is expected to be completed in the second half of 2010. Following the announcement, the RCN stock is tradings nearly 23% higher. Full Article


Mar 5, 2010 Oil Higher On Demand Hopes; Gains Over 2% This Week Oil prices rose to near two-month high levels Friday as better-than-expected employment data from the US signaled the nation's economic recovery is picking up pace, spurring hopes of improved demand for oil. Light, sweet crude oil for delivery in April settled $1.29 higher at $81.50 per barrel in the New York Mercantile Exchange, adding 2.3% over the week. The price had touched a high of $82.07 during intra-day trade Friday, the highest level since the second week of January. Full Article

Forex Top Story

Mar 5, 2010 Dollar Mixed As Stocks Rally On Jobs Report The dollar rallied versus the yen but suffered mild losses against other majors on Friday after an encouraging monthly jobs report sounded the all-clear for a stock rally on Wall Street, fueling renewed risk appetite. A successful Greek bond offering gave some support to European currencies. The debt-ridden nation bought itself time to deal with its fiscal crisis by issuing $7 billion in bonds. Demand was three times greater than available bonds, suggesting that Greece will be able to raise more money to pay down its debt. Full Article

Political News

Mar 5, 2010 Rep. Deal Postpones Resignation To Vote Against Health Care Reform Representative Nathan Deal, R-Ga., announced Thursday that he will postpone his resignation from Congress in order to vote against health care reform. "Just two days after I announced my intentions to leave Congress, the majority party stepped up the schedule for the proposed health care bill," Deal said. Full Article
Mar 5, 2010 Obama Calls For Continued Unemployment Relief, Green Job Boosting MeasuresPresident Barack Obama Friday emphasized federal efforts to stimulate the economy in the face of a better than expected jobs report that nonetheless showed the economy still shedding jobs. Obama said that, although the report was better than expected, the difficult employment market is still intolerable. Full Article
Mar 5, 2010 Obama Administration Highlights Better Than Expected Job FiguresObama Administration officials saw further hopeful signs in employment figures released Friday that showed the economy shedding a surprisingly modest 36,000 jobs and had the unemployment rate holding steady at 9.7 percent. Christina Romer, the chairwoman of the White House Council of Economic Advisers, said the figures were consistent with a pattern of economic stabilization and the slow healing of the labor market. Full Article

US Policy

Mar 5, 2010 British Prime Minister Defends Iraq War British Prime Minister Gordon Brown on Friday said he fully endorsed his predecessor Tony Blair's decision to invade Iraq since it was a threat that "had to be dealt with" by the international community. Appearing before UK's Iraq Inquiry in London, Brown denied that he was kept in the dark by Blair regarding the invasion and added that Iraq was indeed a "test case." Full Article

FDIC : Press Release,First-Citizens Bank & Trust Company, Raleigh, North Carolina Assumes All of the Deposits of Sun American Bank, Boca Raton, Florida

Press Release
First-Citizens Bank & Trust Company, Raleigh, North Carolina Assumes All of the Deposits of Sun American Bank, Boca Raton, Florida

March 5, 2010
Media Contact:
Greg Hernandez
(202) 898-6984

Sun American Bank, Boca Raton, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First-Citizens Bank & Trust Company, Raleigh, North Carolina, to assume all of the deposits of Sun American Bank.
The 12 branches of Sun American Bank will reopen on Monday as branches of First-Citizens Bank & Trust Company. Depositors of Sun American Bank will automatically become depositors of First-Citizens Bank & Trust Company. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers should continue to use their existing branch until they receive notice from First-Citizens Bank & Trust Company that it has completed systems changes to allow other First-Citizens Bank & Trust Company branches to process their accounts as well.
This evening and over the weekend, depositors of Sun American Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.
As of December 31, 2009, Sun American Bank had approximately $535.7 million in total assets and $443.5 million in total deposits. First-Citizens Bank & Trust Company did not pay a premium to acquire the deposits of Sun American Bank. In addition to assuming all of the deposits of the failed bank, First-Citizens Bank & Trust Company agreed to purchase essentially all of the assets.
The FDIC and First-Citizens Bank & Trust Company entered into a loss-share transaction on $433.0 million of Sun American Bank's assets. First-Citizens Bank & Trust Company will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit:
Customers who have questions about today's transaction can call the FDIC toll-free at 1-866-945-9532. The phone number will be operational this evening until 9:00 p.m., Eastern Standard Time (EST); on Saturday from 9:00 a.m. to 6:00 p.m., EST; on Sunday from noon to 6:00 p.m., EST; and thereafter from 8:00 a.m. to 8:00 p.m., EST. Interested parties also can visit the FDIC's Web site at
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $103.8 million. First-Citizens Bank & Trust Company's acquisition of all the deposits was the "least costly" resolution for the FDIC's DIF compared to all alternatives. Sun American Bank is the 23rd FDIC-insured institution to fail in the nation this year, and the fourth in Florida. The last FDIC-insured institution closed in the state was Marco Community Bank, Marco Island, on February 19, 2010.


The New York Times

March 5, 2010

My Alerts

March 5, 2010 Compiled: 1:00 AM


Washington must stop stalling and fix the derivatives market, which kneecapped American firms
and contributed to the debt crisis in Greece.

BUSINESS / GLOBAL BUSINESS Inteligent Investing, March 5th, 2010

Intelligent Investing with Steve Forbes


Intelligent Investing
Investors Not Drunk, Just Drinkin'
Healthy levels of bullishness will prevail but nothing out of hand.
With Roland Beaulieu
The Street Sweeper
Don't Kill All The Lawyers
I agree with Harry Markopolos on just about everything. Except that more mathematicians would have prevented this crisis.
With Bill Singer

Video: Intelligent Investing With Steve Forbes

Intelligent Investing With Steve Forbes
Barclays' Diamond Is Frustrated By Bank Failures
Barclays PLC President Robert Diamond Jr. expresses his frustration with bank failures and outlines a regulatory framework to potentially lessen them.

FDIC Press Release: FDIC Issues List of Banks Examined for CRA Compliance

Press Release
FDIC Issues List of Banks Examined for CRA Compliance

March 5, 2010
Media Contact:
David Barr (202-898-6992)

The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in December 2009. The CRA is a 1977 law intended to encourage insured banks and thrifts to meet local credit needs, including those of low- and moderate-income neighborhoods, consistent with safe and sound operations. As part of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), Congress mandated the public disclosure of an evaluation and rating for each bank or thrift that undergoes a CRA examination on or after July 1, 1990.
A consolidated list of all state nonmember banks whose evaluations have been made publicly available since July 1, 1990, including the rating for each bank, can be obtained from the FDIC's Public Information Center, located at 3501 Fairfax Drive, Room E-1002, Arlington, VA 22226 (877-275-3342 or 703-562-2200), or via the Internet at
A copy of an individual bank's CRA evaluation is available directly from the bank, which is required by law to make the material available upon request, or from the FDIC's Public Information Center.
March 2010 List of Banks Examined for CRA Compliance

Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 8,012 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.
FDIC press releases and other information are available on the Internet at, by subscription electronically (go to and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-42-2010

RTTNEWS: Daily Market Analysis, March 5th,2010

Daily Market Analysis Fri Mar 5 09:21 2010

Mar 5, 2010 Firming Recovery Hopes May Help Markets Extend Gains - RTTNews Daily Market Analysis The major U.S. index futures are pointing to a higher opening on Friday, with the futures advancing further following the release of the non-farm payroll employment report, showing a smaller than expected decline in jobs in February and a steady unemployment rate. The positive data may bring in traders, who had been waiting on the sidelines due to apprehension over the data. If the averages climb above short-term resistance levels, it is very likely that they advance significantly. Full Article

RTTNEWS: Morning Market Briefing

Morning Market Briefing Fri Mar 5 09:01 2010


Mar 5, 2010 Stocks May Open Notably Higher Following February Jobs Report - U.S. Commentary Stocks are poised to see a strong advance at the opening bell on Friday, as the better-than-expected employment figures for February have boosted market sentiment. The major index futures are all in positive territory, with the Dow futures up by 56 points. Full Article

Economic News

Mar 5, 2010 Payroll Employment Fell By Less Than Expected In February Despite the impact of severe winter weather in parts of the country, payroll employment showed a relatively modest decrease in the month of February, according to a report released by the Labor Department on Friday. Full Article
Mar 5, 2010 Philippine Inflation Eases Slightly In February Philippine annual inflation slowed slightly in February following a slower increase in food prices. Full Article
Mar 5, 2010 ECB Presses Ahead With Gradual Exit PolicyThursday, the European Central Bank took another step forward to phase out its unconventional measures taken during the height of financial crisis. Full Article
Mar 5, 2010 U.K. Feb. Factory Gate Inflation Hits 14-Month High U.K. output price inflation in February accelerated more than expected to hit the highest in 14 months. Full Article
Mar 5, 2010 German Factory Orders Beat ForecastGerman factory orders rose more than expected in January, reversing a decline in December, as domestic orders rebounded strongly, official data showed Friday. Full Article
Mar 5, 2010 China Targeting 8% GDP Growth This Year: PMChina's Prime Minister Wen Jiabao said Friday his country was seeking an 8% annual growth in gross domestic product (GDP), an inflation rate of about 3% and a basically stable Yuan currency for 2010, the year in which China is set to overtake Japan to become the world's second-largest economy. Full Article
Mar 5, 2010 Bank Of Japan Contemplating Further Monetary Easing: ReportThe Bank of Japan has begun examining plans to further ease its already ultra-loose monetary policy and may make a decision on such a move as early as this month, the Nikkei economic daily reports. Full Article

Earnings News

Mar 5, 2010 Solarfun Power Holdings swings to profit in Q4Friday, Solarfun Power Holdings Co. Ltd. (SOLF) posted a fourth-quarter profit, compared to loss last year. Total revenues for the quarter grew 11.6% year-over-year. Full Article
Mar 5, 2010 Marvell turns to profit in Q4, beats Street viewsThursday, Marvell Technology Group Ltd. (MRVL) reported a swing to profit in the fourth quarter, reflecting a 64% surge in revenue,as well as better margins. Both adjusted profit and revenue came in above the Street view. Gross margins scaled up 900 basis points from the year-ago quarter. Full Article

Corporate News

Mar 5, 2010 Boeing wins $163 mln order for two next generation airplanes from Somon Air; to offer Tanker to US Thursday, Boeing Co. (BA) said it won a $163-million order from Somon Air for two Next-Generation extended range 737 airplanes. The order represents Tajikistan-based Somon Air's first direct purchase from Boeing. The company also said it would offer the Boeing NewGen Tanker to supply the U.S. Air Force with a multi-mission aerial refueling aircraft for the next several decades. Full Article
Mar 5, 2010 Toyota vehicle owners say acceleration problems persist after recall repairsFriday, Toyota Motor Corp. (TMC) noted that some vehicle owners, whose cars were fixed under two major recalls still complained of sudden acceleration incidents.
Mar 5, 2010 BP CEO's annual pay up 41%Friday, BP Plc's (BP) Chief Executive Officer Tony Hayward's total remuneration reportedly jumped 41% in 2009 as the company recorded improved operating performece, despite a dip in full-year profits on lower oil price. Full Article

Todays WS Events

Mar 5, 2010 Equity One Q4 09 Earnings Conference Call At 9:00 AM ET Equity One Inc. (EQY) will host a conference call at 9:00 AM ET March 5, 2010, to discuss its Q4 09 financial results. To access the live webcast, log on at The call can also be accessed by dialing (800) 510-9661 (US) or (617) 614-3452 (International) with pass code 47507225. For replay of the call, dial (888) 286-8010 (US) or (617) 801-6888 (International) with pass code 67593455.
Mar 5, 2010 Cisco Systems Investor Conference Call At 12:30 PM ET Cisco Systems Inc. (CSCO) will host a webcast with a corresponding slide presentation to discuss its global channel partner strategy as a sustainable long term differentiator. The event is scheduled to begin at 12:30 PM ET March 5, 2010. To listen to the live webcast, log on to

The Economist : Selected articles by subject Alerts.March 5th, 2010

Articles-by-subject alert: Banking, pensions and financial regulation From, Friday March 5th 2010

The following have been newly published on
Iceland and the Icesave vote
The ramifications of a likely no vote may not be pleasant ... more

Financial inclusion for all
Should every child receive a bank account at birth? ... more

Multilateral development banks
A difficult time for a fund-raising spree ... more

Currencies under pressure
Countries compete to weaken their currencies ... more

Sovereign-debt ratings
Countries don't like bad news about their creditworthiness ... more

The Federal Reserve
The central bank loses a vice-chairman but starts to regain its standing ... more

Articles-by-subject alert: Energy and environment From, Friday March 5th 2010

The following have been newly published on
Forecasting snow density
How to predict the consistency of snow ... more

Monitoring greenhouse gases
You might think that measuring the levels of greenhouse gases in the atmosphere would be a priority. If you did think that, though, you would be wrong ... more

Energy security in Europe
Trying to undermine Russian pipeline monopolies ... more

The former BP boss debriefs
Business and the bedroom ... more

Articles-by-subject alert: Economics, World Bank and World Trade Organisation From, Friday March 5th 2010

The following have been newly published on
A risk-averse continent
Most Europeans are doing better than they think, and can take more fiscal austerity ... more

Greece's fiscal crisis
The government's new austerity measures may prove to be enough—so long as they are fully implemented ... more

India's annual economic survey
Does India's government pay any heed to its economic advisers? ... more

Indonesia's embattled reformers
After a hard-won battle, President Yudhoyono has a chance to start again ... more

Currencies under pressure
Countries compete to weaken their currencies ... more

Sovereign-debt ratings
Countries don't like bad news about their creditworthiness ... more

The Federal Reserve
The central bank loses a vice-chairman but starts to regain its standing ... more

Prudential buys AIA
The insurance industry's biggest-ever acquisition ... more

Who pays for the budget deficits?
Throughout the rich world battle lines are being drawn in the coming fight over deficit reduction ... more

Fiscal deficits
Increasing budget deficits and rising government debts will entail fierce political battles ... more

Multilateral development banks
A difficult time for a fund-raising spree ... more

Articles-by-subject alert: Mergers From, Friday March 5th 2010

The following have been newly published on
Prudential buys AIA
The insurance industry's biggest-ever acquisition ... more

Articles-by-subject alert: Stockmarkets From, Friday March 5th 2010

The following have been newly published on
Prudential buys AIA
The insurance industry's biggest-ever acquisition ... more

Money Morning: March 5th, 2010

March 5, 2010

Your Cable Company is History

Because a new technology is about to make the Internet 10,000xs faster.
Only one company has it.

Quarterly profits have already tripled…
Income has zoomed up by 45xs….
And it could hand you 412% very soon.

Get all the details right here.

Six Ways to Profit as Brazil’s Economy Takes Off

By Martin Hutchinson, Contributing Editor, Money Morning

In many ways, Brazil offers some of the best prospects among emerging markets and deserves to be a core holding in any international portfolio.

Brazil's economy had only a shallow recession and is now recovering nicely. Its market has been one of the best performing since Dec. 31, 2008, and both inflation and the budget deficit remain under control.

Yet one can be only moderately bullish - and I'll explain why.

To find out how to profit from Brazil's bullish prospects, read on...

Hutchinson on...
- How to Profit from the Next Spike in Oil Prices

- The Chinese Are Selling Treasuries – So What Are They Buying?

Turn a $200 investment into $1 Million

Imagine turning $200 penny stock investments into a waterfall of cash.

There's a reason penny stocks have been Wall Street's favorite hidden investment for years now: they give the best shot at winning it big.

Find Out What You Can do with $200. Learn more here.
Sponsered Content

Mortgage Markets Show Increased Stability, But Limited Opportunity

By Larry D. Spears, Contributing Writer, Money Morning

[Editor's Note: This analysis of the U.S. mortgage market is part of a two-story package that appears in today's issue of Money Morning. To read a related story on the outlook for adjustable-rate mortgages (ARMs), please click here.]

It doesn't have four letters, but "mortgage" has definitely been a dirty word in the financial world the past few years. That's especially true when the word "mortgage" is paired up with such other terms as "subprime," "delinquent," and "foreclosures."

Little wonder that mortgages - along with the derivative securities backed by them and the often-unseemly practices of the people pushing them - have gotten much of the blame for precipitating the economic meltdown from which the American economy is now struggling to recover.


Money Morning Mailbag

We'd like to hear from you! If you have an idea that amplifies something you've read in Money Morning, send it to us here to share:

"ALL BRANCHES... of our government ARE IN BUSINESS with Wall Street..."
from Money Morning Reader, T.S.

Epitaph For the ARM: Is the Adjustable-Rate Mortgage Finally Dead?

By Larry D. Spears, Contributing Writer, Money Morning

[Editor's Note: This analysis of the adjustable-rate-mortgage (ARM) market is part of a two-story package on the U.S. mortgage market. To read the package mainplay - "Mortgage Markets Show Increased Stability, But Limited Opportunity" - please click here.]

Is it the end of the line for the adjustable-rate mortgage (ARM)?

A close look at the interest-rate paradox involving credit cards and ARMs indicates that it may be time to start writing the epitaph for adjustable-rate home loans. Here's why.

The U.S. Federal Reserve's benchmark Federal Funds rate is at all-time lows - with a target rate near 0.00% - but credit-card interest rates linger at record highs. The all-in rate on some credit-card transactions approaches 30%.

Read full article...

Forbes; Daily Opinions, March 5th, 2010

Latest Stories

How Much Does The National Debt Matter?

Bruce Bartlett
How much we really owe and to whom.
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China Bets Big On America

Gordon G. Chang
The country is increasingly relying on exports to the U.S.
More by Gordon G. Chang Read More

Trouble In Turkey

Melik Kaylan
Why America shouldn't pass the Armenian Genocide Bill.
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Scion Of Hamas

Claudia Rosett
Reflective words from former informant Mosab Hassan Yousef.
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How Asian Economies Can Compete And Grow

Richard Dobbs, James Manyika and Jaana Remes
The global recession raised some fundamental questions about the sustainability of export-led growth.
More by Richard Dobbs, James Manyika and Jaana Remes Read More

Weather Hype, Climate Tripe

Michael Fumento
Freezing temperatures, acne, killer cornflakes--all brought to you by global warming.
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Covered: Penguin Classics' Pretentious New Book Jackets

Raquel Laneri
These aren't covers for book lovers; they're for graphic designers.
More by Raquel Laneri Read More

Europe Eats Humble Pi

Stephen Pope
Tepid support from Germany and France for Greece just shows widening cracks in the European Union.
More by Stephen Pope Read More

Morning Digest: House OKs $15 billion jobs bill

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House OKs $15 billion jobs bill
Attacks kill 12 as Iraqi troops and police vote
Shares rise, dollar steady before U.S. jobs data
Microsoft to stay its China course despite Google spat
It's official: An asteroid wiped out the dinosaurs
Kobe shines before Heat stifles Lakers in overtime
Top Hollywood names not among Oscar voters
Pilot with fake licence arrested at airport

House OKs $15 billion jobs bill
March 04, 2010 05:05 PM ET
WASHINGTON (Reuters) - Congressional Democrats made headway on Thursday on their top legislative priority -- job creation -- when the House of Representatives approved a $15 billion package of tax credits and highway construction.

Full Article
Attacks kill 12 as Iraqi troops and police vote
March 04, 2010 08:45 PM ET
BAGHDAD (Reuters) - Twelve people were killed in Baghdad on Thursday, including seven soldiers and police blown up by suicide bombers, days before a poll that will test Iraq's prospects for stability as U.S. troops prepare to leave.

Full Article
Shares rise, dollar steady before U.S. jobs data
March 05, 2010 05:30 AM ET
LONDON (Reuters) - World stocks pushed higher on Friday after better-than-forecast U.S. retail sales suggested the world's biggest economy was stabilizing while the dollar held broadly steady ahead of U.S. jobs data.

Full Article
Microsoft to stay its China course despite Google spat
March 05, 2010 04:08 AM ET
BEIJING (Reuters) - Microsoft said it will stick to its development strategy for the China Internet search market regardless of the outcome of Google's high-profile spat with Beijing.

Full Article
It's official: An asteroid wiped out the dinosaurs
March 04, 2010 04:16 PM ET
LONDON (Reuters) - A giant asteroid smashing into Earth is the only plausible explanation for the extinction of the dinosaurs, a global scientific team said on Thursday, hoping to settle a row that has divided experts for decades.

Full Article
Kobe shines before Heat stifles Lakers in overtime
March 05, 2010 01:36 AM ET
MIAMI (Reuters) - The Miami Heat overcame a 39-point effort from Kobe Bryant to capture a thrilling 114-111 overtime victory over the Los Angeles Lakers on Thursday.

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Top Hollywood names not among Oscar voters
March 05, 2010 05:27 AM ET
LOS ANGELES (Hollywood Reporter) - Taylor Lautner isn't a member of the Academy of Motion Picture Arts and Sciences.

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Pilot with fake licence arrested at airport
March 04, 2010 10:53 AM ET
AMSTERDAM (Reuters) - A Swedish pilot with a fake commercial license was arrested in his cockpit at Amsterdam's Schiphol airport as he prepared to fly 101 passengers on a Boeing 737 to Turkey, Dutch police said Wednesday.

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