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May 1, 2010

FGC BOLSA - FGC FINANCIAL MARKETS: "Capital"of the World Unite. May 1rst. 2010


 By: Fernando Guzmán Cavero

"Capital"of the World Unite

The Marxism  Adage
As in the  19th Century when  Marx proclaimed: " Proletariat of the world unite" against the oppressor capitalism system. Now the adage is the opposite "Capital" of the World Unite".

Let's remember that workers-including children- in those days had  no rights,   with labor days of 15 to  18 hours, that just only allowed them to survive in miserable life conditions . People died everyday, due to the Industrial Revolution who killed millions of people. Is under this situation that the only way out in accordance with Karl Marx, was to  proclaim the "Proletariat Dictatorship" as the only path for workers to free themselves.
2.- TODAY'S PARADOX
Today the capitalists, or more properly speaking :" The  Capital", and within this category, the greatest amount in hands of a relative few entrepreneurs  or corporations in  the world, discovered in fraudulent schemes, to increase their wealth and by inference their share of world  power , proclaim: Capital of the World Unite, read,:Buffett Defends Goldman; Berkshire Posts Profi

 3.- THE GAP

The difference is notorious. Marx  made an intellectual effort to explain the rationale of capitalism with an ethical purpose : free workers from an unfair oppression.

I am not a Marxist, but I also have to recognized the immense intellectual and rational  work to create a doctrine with an ethical purpose- I am not saying that the Marxism is the solution or that Marx was right in his political theory". My personal point of view is that he was wrong, but this fact, does not invalidate his ethical purpose or objective to charge the status-quo.

From there, to recognize the same values in the prevailing  capitalist system, in hands of the so called neo-Liberalists, exist a sidereal space, that  I can not accept nor recognize. What do you think??

The Wall Street Journal: Buffett Defends Goldman; Berkshire Posts Profit . May 1rst, 2010

The Wall Street Journal

OMAHA, Neb.—Warren Buffett offered a vigorous defense of Goldman Sachs Group Inc. at Berkshire Hathaway Inc.'s annual meeting Saturday, saying the firm hadn't engaged in improper activity.
Goldman has been reeling from Securities and Exchange Commission allegations that the bank had engaged in fraudulent activities in relation to a mortgage deal called Abacus. Goldman says it did nothing wrong.
His comments offer a powerful vote of confidence in Goldman, which has seen its shares slide since the SEC announced the investigation on April 16. Goldman's shares fell 9.4% on Friday after it emerged that the Manhattan district attorney's office was conducting a preliminary criminal probe into its mortgage-trading activities.

Berkshire Hathaway shareholders react to the SEC lawsuit against Goldman Sachs. MarketWatch's Alistair Barr reports.
"We have had a lot of very satisfactory transactions with Goldman Sachs," Mr. Buffett said.
Berkshire Hathaway also said it recorded a first-quarter profit of $3.6 billion, compared with a net loss of $1.5 billion a year earlier. Mr. Buffett said the company's results show that the global economy is showing significant signs of recovery for the first time.
Operating profit was $2.2 billion, reversing a year-ago loss of $3.2 billion, he said, adding that individual units showed significant signs of improvement in March, after slight gains in prior months.
"What was sort of a sputtering recovery months ago seemed to pick up steam in March and April," Mr. Buffett said. "We're seeing a pretty good uptick."
Mr. Buffett, who invested $5 billion in Goldman at the height of the financial crisis, said he didn't believe that Goldman had acted improperly. Rather, counterparties to the deals, which plunged in value when the housing market fell apart in 2007, should be responsible for their own actions.
Mr. Buffett said he believed that one of the banks that had purchased Abacus deals in the transaction, the Dutch bank ABN Amro Group, was a sophisticated investor. "It's a little hard for me to get terribly sympathetic for a bank that made a bad credit deal," said Mr. Buffett.
He said a firm that had acted as an intermediary in the deal, ACA Management, had drifted from its original business of insuring municipal bonds into structured finance, a more complicated and risky business. He said he believes most press accounts haven't properly explained ACA's business model.
Regarding Paulson & Co., the New York hedge fund that worked with Goldman and ACA to structure the Abacus deal, Mr. Buffett said it is irrelevant which firm was on the other side of the Abacus deal.
"It doesn't make any difference whether it was Paulson on the other side of the deal or whether Goldman was on the other side of the deal or whether Berkshire was on the other side of the deal," he said.
Berkshire Vice Chairman Charlie Munger, who told The Wall Street Journal this week that Goldman was engaged in "socially undesirable" activities, told shareholders that he would have voted against SEC prosecution.
Mr. Buffett said the charges against Goldman have hurt the bank's reputation. "There's no question that the allegation alone causes the company to lose reputation," he said. "The press of the past few weeks hurt the company and hurt morale."
But he said that the charges need to be proven if they are to have a lasting impact on Goldman. "I don't believe that the allegation of something falls within the category of losing reputation," he said. "If something is proven then you have to look at it."
In a twist, Mr. Buffett said the SEC charges against Goldman have helped Berkshire Hathaway. He noted that Goldman could redeem Berkshire's $5 billion investment at any time, and that Goldman has an economic incentive to do so. The reason: Goldman is paying a 10% rate on the investment, coming to $500 million a year, or, as Mr. Buffett said at the meeting, $15 a second.
"Goldman would love to get rid of that" investment, said Mr. Buffett.
But Goldman likely believes that having Mr. Buffett as an investor can help its reputation. "Recent developments have probably delayed the calling of our preferred," said Mr. Buffett.
On derivatives, Mr. Buffett said his firm would likely not be required to post collateral on existing derivative contracts under the financial-overhaul bill currently before the Congress.
Mr. Buffett said he doesn't see any consequences "unless there's some sweeping requirement that all companies have to post collateral" on old contracts. Berkshire had lobbied to have such a provision added to the overhaul bill to clarify the requirements under the proposed law.
Still, if required to put up such collateral, Berkshire would do so, he said.
Mr. Buffett also said Berkshire made several mistakes in the operation of its NetJets private jet unit. He said the biggest mistake was that the company was purchasing planes at prices that were "fictitious" in comparison to the prices it was able to resell them at a later date.
"We let our operating costs get out of line," Mr. Buffett said in response to a question about NetJets. "We lost a lot of money."
Write to Scott Patterson at scott.patterson@wsj.com

The Washington Post : Today´s Highlights.- Justice Takes Bigger Swing at Goldman


TODAY'S HIGHLIGHTS
Justice takes bigger swing at Goldman
The Justice Department's criminal investigation into Goldman Sachs goes beyond the financial transactions targeted by the Securities and Exchange Commission in the civil fraud suit brought against the firm last month, law enforcement sources said Friday.
(By Zachary A. Goldfarb and Jerry Markon, The Washington Post)

U.S. might announce nuclear arsenal's size
Move is designed to make Iran focus of treaty conference
(By Mary Beth Sheridan and Walter Pincus, The Washington Post)

Pressure grows for action by BP
SPILL REMAINS UNCAPPED
Firm's plan minimized risk of such an accident

(By Steven Mufson and Michael D. Shear, The Washington Post)

Toxic slick seeps toward treasured Gulf coastline
(By David A. Fahrenthold and Juliet Eilperin, The Washington Post)

Ariz. gov signs bill revising new immigration law
(By PAUL DAVENPORT, AP)

More Today's Highlights


POLITICS
In Utah, senator falls out of favor
SALT LAKE CITY -- Delivering the opening prayer of the Beaver County Republican Convention recently, cattle rancher Gilbert Yardley prayed for Utah to elect "honest" people to Congress -- anybody to replace "the bunch we have in there now."
(By Amy Gardner, The Washington Post)

Pressure grows for action by BP
SPILL REMAINS UNCAPPED
Firm's plan minimized risk of such an accident

(By Steven Mufson and Michael D. Shear, The Washington Post)

Low-cost lobbying firm courts the little guy
K Street start-up advertises its prices and a different image
(By Dan Eggen, The Washington Post)

Corrections
(The Washington Post)

GOP women fueling surge in female candidates for Congress
(By Garance Franke-Ruta, The Washington Post)

More Politics

NATION
Toxic slick seeps toward treasured Gulf coastline
The cord-grass marshes of south Louisiana are nurseries for baby shrimp, stalking grounds for blue crabs, and barriers that slow down waves before they bite off more of the mainland. On Friday, they were becoming defenseless sponges for sticky, dark oil.
(By David A. Fahrenthold and Juliet Eilperin, The Washington Post)

For immigration, students take toughest course: action
(By David Montgomery, The Washington Post)

Justice probing mine explosion
Massey Energy says it's cooperating with criminal inquiry
(By Jerry Markon and Ed O'Keefe, The Washington Post)

What is threatened by the spill
(The Washington Post)

Pentagon rescinds objection to wind farm
(By Juliet Eilperin, The Washington Post)

More Nation

WORLD
Immigration becomes an accidental issue
LONDON -- In the heat of Britain's closest election race in decades, a national debate has broken out over the most unlikely of questions: Is Gillian Duffy really a bigot?
(By Anthony Faiola, The Washington Post)

Expo gives China another showcase opportunity
(By Andrew Higgins, The Washington Post)

Nation Digest
(The Washington Post)

U.S. seeking plea agreement in case of Guantanamo detainee
(By Peter Finn, The Washington Post)

Classroom attack injures 6 in China
Government on alert after third incident of its kind in three days
(By Lauren Keane, The Washington Post)

More World

METRO
Crashed car in Montgomery yields suspect in burglaries
Pursuit of a car in Montgomery County on Thursday led to something apparently unexpected: a suspect in a series of store burglaries in which doors were smashed open with a chunk of concrete, county police said.
(By Martin Weil, The Washington Post)

Officials working to identify human bones found on Ocean City beach
(By Martin Weil, The Washington Post)

Lawyer says money-for-votes 'not unlawful'
Pr. George's civil suit alleges shakedown in office-space deal
(By Ovetta Wiggins, The Washington Post)

LOTTERIES
April 30
(The Washington Post)

Local Digest
(The Washington Post)

More Metro

BUSINESS
Pressure grows for action by BP
Federal and state officials pushed oil giant BP to intensify its efforts to cap a leaking oil well in the Gulf of Mexico and to contain the slick that is threatening the shores and livelihoods of people in five states.
(By Steven Mufson and Michael D. Shear, The Washington Post)

Justice takes bigger swing at Goldman
Criminal probe digs into trades beyond those targeted in SEC civil suit
(By Zachary A. Goldfarb and Jerry Markon, The Washington Post)

U.S. recovery continues at its slow pace
GDP rises again, but unemployment still cuts into spending
(By Neil Irwin, The Washington Post)

Church plans to sell Washington Times
Former editor Solomon mentioned as bidder for struggling paper
(By Ian Shapira, The Washington Post)

Snyder leaves board of revamped Six Flags
Equity stake wiped out Theme park operator reorganizes in Chapter 11
(By Thomas Heath, The Washington Post)

More Business

TECHNOLOGY
Brown v. Horde of Education: a Georgetown battle
Stephen R. Brown wanted to curb the loud, drunken parties that Georgetown University students throw in his historic Burleith neighborhood. So Brown, 62, snapped photos of the ruckus on his block -- students hanging out on a roof, a backyard gathering lit by holiday lights -- and posted the images on...
(By Jenna Johnson, The Washington Post)

More Technology


SPORTS
RFK doubleheader
United vs. Red Bulls When: 4 p.m. TV: Comcast SportsNet, Telefutura.
(The Washington Post)

Power play keys Penguins' Game 1 win over Canadiens
(By ALAN ROBINSON, AP)

Woods misses cut after his 79
Woods goes home early for just the sixth time in his career
(By Associated Press, The Washington Post)

Tejada carries Orioles to win
The veteran ties score late, wins it in 10th
(By Baltimore Sun, The Washington Post)

Return runs deep for upstart Nationals
Zimmerman homers twice as Washington rolls to 7-1 win over Marlins
(By Adam Kilgore, The Washington Post)

More Sports

STYLE
Brown v. Horde of Education: a Georgetown battle
Stephen R. Brown wanted to curb the loud, drunken parties that Georgetown University students throw in his historic Burleith neighborhood. So Brown, 62, snapped photos of the ruckus on his block -- students hanging out on a roof, a backyard gathering lit by holiday lights -- and posted the images on...
(By Jenna Johnson, The Washington Post)

New dominion
With meditative taste, Rick Mather elevates Va. museum's 1930s design
(By Philip Kennicott, The Washington Post)

For immigration, students take toughest course: action
(By David Montgomery, The Washington Post)

Studio taps young Muse to follow Zinoman
(By Peter Marks, The Washington Post)

A doomed paper, writing its own (highly readable) obituary
(By Louis Bayard, The Washington Post)

More Style


Burqa ban
BELGIUM'S PARLIAMENT is so polarized along linguistic lines that it has been unable to agree on a government for much of the past three years. At the moment it is ruled by a caretaker coalition. But the deputies managed to achieve near-unanimity this week on one pressing issue: discriminating...
(The Washington Post)

Reform test
In Louisiana and other states, a fight to improve public schools
(The Washington Post)

Cross examination
The high court's selective logic in a church-state separation case
(The Washington Post)

 

MarketWatch: Weekly Roundup. The Week's top Videos. May 1rst, 2010

MarketWatch
Weekly Roundup
MAY 01, 2010

The week's top videos

By MarketWatch



In case you missed them, here are the top 10 videos that appeared on MarketWatch for the week of April 26-30:

Dream kitchen on a budget

By choosing products wisely, homeowners are upgrading their kitchens without busting their budgets. Amy Hoak reports from the Kitchen & Bath Industry Show in Chicago.
 Watch Video Report.


Are netbooks losing their sizzle?

Pricier, more powerful notebook computers are sucking some of the steam from netbooks, the low-priced darlings that helped fuel sales for the PC industry in the past two years. Stacey Delo discusses the trend with Justin Scheck and Eric Savitz.
 Watch Video Report.


The skinny on touch technology

Imagine if you could dial a cell phone on a keypad displayed on your hand? It could happen sooner than you think. Simon Constable talks with Carnegie Mellon graduate student Chris Harrison, who is working to develop the technology with Microsoft.
 Watch Video Report.


Goldman's Tourre in the hot seat

Goldman's Tourre says he never misled anyone, as the bank defends itself against profiteering charges from the housing crisis.
 Watch Video Report.


Prototype iPhone: Cops on the case

The case of the next-generation iPhone found in a Silicon Valley bar has now become a police matter, with investigators raiding the home of a blogger. Stacey Delo talks with John Letzing, Shira Ovide and Peter Kafka.
 Watch Video Report.


A 24-room apartment in 344 square feet

Hong Kong architect Gary Chang, has managed to turn his tiny apartment into a mansion of sorts, comprising more than 20 rooms. The innovation he says could improve the lives of low income people around the world.
 Watch Video Report.


Investors flock to Omaha and Buffett

Berkshire Hathaway's annual meeting is this weekend, and tens of thousands of shareholders want to hear Warren Buffett talk about investing and the economic outlook. This year could be the biggest ever, following the acquisition of Burlington Northern. Alistair Barr reports.
 Watch Video Report.


Oil slick spreads in Gulf

Crude oil released into the Gulf of Mexico after an oil rig explosion last week is now threatening the Louisiana shore. Angel Gonzalez takes a look at the damage from the air, where oil sheen seems to extend to the horizon.
 Watch Video Report.


Gulf oil spill may last 90 days

The White House said it will use all available resources to contain an oil spill off the Gulf of Mexico -- which may take up to 90 days to stop.
 Watch Video Report.


Dialing into dividends

Cash-rich companies are increasingly sharing the wealth by giving stockholders larger dividends. Harry Domash, publisher of the Dividend Detective Web site, highlights several attractively valued stocks with equally attractive dividends that investors can consider now. He talks with Jonathan Burton.
 Watch Video Report.


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

See the week's 10 best Personal Finance stories.

MarketWatch: The Week's Top Personal Finance Stories. May 1rst, 2010


MarketWatch

Personal Finance Daily
MAY 01, 2010

This 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 April 26-30:

Jumbo mortgages become more affordable

Jumbo mortgage rates experienced a jumbo hike when the meltdown in the mortgage market caused funding for these bigger loans to dry up. Slowly, rates have fallen, as banks have been more willing to fund the loans too large for purchase by Freddie Mac or Fannie Mae -- up to $417,000 for single-family homes in many markets, and currently up to $729,750 in some high-cost areas.
See Amy Hoak's Home Economics.


Dream kitchen on a budget

By choosing products wisely, homeowners are upgrading their kitchens without busting their budgets. Amy Hoak reports from the Kitchen & Bath Industry Show in Chicago.
 Watch Video Report.


Who gets dibs on the college fund, you or your kids?

As jobs remain scarce, parents may want to go back to school to bolster their résumé or try a new career. Many parents also want to save for their kids' education. The question is: Which investment makes more sense for families looking to spend each dollar as well as possible during these tough times?
See Diary of a Recession Baby.


Six investing rules for a worst-case scenario

You need a whole new strategy. Are you ready? OK. First, let's assume you really are tired of the pain of fighting Wall Street. You are? Good. Then you've had an epiphany ... an awakening ... you've had one of those rare ah-ha! moments ... what Zen masters call enlightenment ... you finally see the light ... the futility of denying reality ... and as you see into this new reality, you surrender the fight, you accept these six secret wisdoms underlying your new investment strategy.
See Paul B. Farrell.


Tap retirement savings early without penalty

For many older workers the recession has been especially tough. Salaries and benefits have been cut, insurance costs have risen. That slimmer paycheck isn't going as far as it once did. But there is one little known, if troublesome, way that some older workers might be able to make up some of the shortfall: You can tap into your nest egg a bit early.
See Jonathan Burton's Life Savings.


How the money gurus take their own advice

While there are countless articles on how you can better your relationship with money, let's peer into the habits of financial planners and those known for their personal finance savvy.
See Family Finance.


How the sandwich generation can ease the money squeeze

I spend my nights worrying about my nearly 80-year-old father and stepmother. My wife and I spend our days worrying about funding college bills for four children (expected cost $1 million at Harvard with no scholarships, loans, grants and the like). And in between those worries, I think about saving $3 million (give or take a million) for retirement. Yes, I am member of the sandwich generation. The good news is that I am not alone. There are millions upon millions of us caught in the middle. And the even better news is that there seem to be experts aplenty ruminating on solutions for this generation.
See Robert Powell.


New flier-protection rules may mean more cancellations

Fliers in the U.S. are expected to cheer new rules going into effect this week that are meant to protect them from being stranded on tarmacs during lengthy delays, but industry experts aren't so sure they'll be cheering the higher costs and cancellations the rules may bring.
See Travel.


Labor force polarized as middle-skill jobs disappear: report

Middle-skills jobs have lost share in the employment pool in the last three decades, a trend of labor-market "polarization" reinforced by the recession, according to a report released Friday.
See Capitol Report.


The dramatic legacy of one woman's immortal cells

In today's medical environment, where paperwork-overwhelmed patients often feel they have to sign their rights away just to have a simple blood test, it's hard to imagine a time when the concepts of informed consent and bioethics didn't exist. For those of us born in the post-Civil Rights era, it's also difficult to conceive of race-based hospital exclusion or separate wards for white and "colored" patients. But that was the reality in 1951, when a poor, uneducated black woman named Henrietta Lacks sought treatment for what turned out to be cervical cancer, and a biopsy taken without her consent changed the course of medical history.
See Health Matters Blog.


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

See the week's Top 10 videos on MarketWatch.