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Showing posts from September, 2013

FTC | Warnings September 30, 2013: FTC Warns of Utility Bill Scam That Asks for Payment via GreenDot, Paypal or Prepaid Gift Card

FTC Warns of Utility Bill Scam That Asks for Payment via GreenDot, Paypal or Prepaid Gift Card Imagine receiving a phone call from your utility company saying they’re about to cut off your electricity. The caller ID looks like it might be a legitimate phone number, but you know you’ve paid your bill. The caller says, “I can stop this, but only if you pay me.” It’s a scam, but there’s a new twist.  Instead of asking you to wire money, a new scam wants you to use GreenDot, buy a prepaid gift card, or use PayPal . Scammers using reloadable debit cards, gift cards, or PayPal is not new, but it’s growing. It lets them get your money in a way that you’ll never get it back. Scammers can use computers to make it look like they’re calling from one place – when, in fact, they’re someplace else.  If you get a call, email, text, or even a visit from someone telling you to make a payment via PayPal, or to buy a GreenDot card or a gift card, it’s probably a s

NFA | Notice to Members September 30, 2013: Filing Requirements for Exemtions Notices under CFTC's Recently Adopted Harminization Rules

Notice to Members I-13-28 September 30, 2013 Filing Requirements for Exemptions Notices under CFTC's Recently Adopted Harmonization Rules On August 22, 2013, the CFTC adopted final rules, which harmonize certain compliance obligations for CPOs of investment companies registered under the Investment Company Act of 1940 (RICs) that are now required to register as CPOs due to recent changes to the exclusion for registration available under Regulation 4.5. See the CFTC Federal Register for the full text of the final rules. The final rules provide that a CPO of a RIC may elect to comply with CFTC Part 4 disclosure, reporting and recordkeeping requirements through substituted compliance with the applicable SEC rules for RICs, subject to certain conditions outlined in CFTC Regulation 4.12(c), including the requirement that the CPO file notice of substituted compliance with NFA under CFTC Regulation 4.12(c)(3). The final rules also provide relief to all CPOs from t

CNBC | U.S Credit Rating by S&P September 30, 2013: S&P to Hold Fire on U.S. Credit Downgrade - for Now.

Michael Nagle | Bloomberg | Getty Images The U.S. debt ceiling debate is unlikely to change Standard & Poor's AA+ U.S. sovereign rating, the credit ratings agency said Monday, but warned a protracted battle or a breach of next month's deadline that results in a missed debt payment could alter their calculus. In a research note, S&P appeared to lower the probability of a repeat performance of the downgrade drama that paralyzed markets in 2011. In a controversial move two years ago, the impasse between the Congress and the White House led S&P to strip the U.S. of its AAA credit rating. The ratings agency was the only one of its peers to do so—leading it to accuse the U.S. of retaliation when the federal government sued S&P for its part in the 2008 financial crisis. Yet at least for the moment, S&P appeared to take a more tempered approach to the saga u

NYT | Global Update September 30, 2013Senate Rejects House's Terms on Budget With Shutdown Near.

September 30, 2013 Compiled 20:45 GMT Global Update TOP NEWS Senate Rejects House's Terms on Budget With Shutdown Near By ASHLEY PARKER Within minutes of convening, the Senate voted 54 to 46 to strip the health care provisions from a measure passed by the House early Sunday morning and send it back to the House. As Congress Spars Over Budget, Obama Stays on the Sidelines By JACKIE CALMES Watching as Congress debated government spending and his signature health care law, President Obama welcomed and met with the Israeli prime minister. Markets Slide Worldwide Amid U.S. Budget Battle By NATHANIEL POPPER On Wall Street, investors were concerned that a shutdown could make it more likely that the

DealBook P.M. Edition September 30, 2013: Goldman as Case Study, Not Hero or Villain

Monday, September 30, 2013 TOP STORY Goldman as Case Study, Not Hero or Villain Goldman Sachs has been a symbol for Wall Street's dark side. Its depiction as a blood-sucking "vampire squid" in a Rolling Stone article captured the public's imagination. Amid the vitriol, Goldman has had plenty of defenders who argue that the bank performed far better than its peers during the financial crisis and continues to be a profit-making machine. So which is it? Steven G. Mandis, a Ph.D. candidate in sociology at Columbia University, takes a measured, academic approach to the question in a new book, "What Happened to Goldman Sachs." DEALBOOK »   DEALBOOK HIGHLIGHTS Henning: No Limit on Strikes for JPMorgan Chase Simply paying money to get rid of investigations raises questions about whether JPMorgan Chase should be viewed as a recidivist,

Wall Street at Close Report by RTTNews September 30, 2013: Washington Budget Battle Takes Toll On Stocks - U.S. Commentary

Washington Budget Battle Takes Toll On Stocks - U.S. Commentary 9/30/2013 4:47 PM ET Wall Street suffered a notable decline on Monday, as worries about a looming government shutdown weighed on the market. Investors ignored some upbeat statistics on the manufacturing sector and focused on the budget fight in Washington. Shares dropped at the outset of trading as the deadline for a spending deal came into view. There was a moderation during the mid-morning, but stocks slipped back toward their lows of the day during the afternoon. The Dow Jones Industrial Average eventually finished lower by 128.57 points, or 0.8 percent, closing at 15,129.67. The Nasdaq retreated 10.12 points, or 0.3 percent, to end at 3,771.48. The S&P 500 slipped 10.20 points, or 0.6 percent, to finish at 1,681.55. Congress continues to wrangle over a spending bill. Without a last-minute deal, many federal government operations are scheduled to shut down at midnight due to lack of fu

Wall Street at Close Report by MarketWatch September 30, 2013: U.S. stocks gain for third straight quarter, but drop 0.84% .

By Kate Gibson , MarketWatch    NEW YORK (MarketWatch) — U.S. stocks dropped on Monday, taking a little shine off the third straight quarter of gains, as investors worried about a standoff on Capitol Hill and the likely duration of a possible government shutdown.  “This is not a doomsday situation; at some point someone will blink and there will be an agreement. I’m not optimistic we’re going to avert a shutdown, but I don’t think it’ll last more than a few days,” said Dan Heckman, senior fixed-income strategist at U.S. Bank Wealth Management. OBAMACARE NEWS AND RELATED STORIES • Meet Obamacare’s insurance salesmen • 10 careers boosted by Obamacare • 10 things Obamacare won’t tell you • The 50 states of Obamacare • Follow the Health Exchange blog » “I don’t

The Economist | New Selected Articles September 30, 2013: Clmate change, Esperanto and apocalypse.

Monday September 30th 2013 A selection of new stories from Babbage: Climate change: it's still our fault Free exchange: Get a life Prospero: Simple, logical and doomed The Economist explains: Who converts to Islam? Erasmus: The politics of apocalypse Babbage: Climate change: it's still our fault The UN's climate-change panel pins the blame on man READ MORE » Free exchange: Get a life If you're more productive, you get to work less READ MORE » Prospero: Simple, logical and doomed Why Esperanto will never quite become the international language of choice READ MORE » Free exchange: Who converts to Islam? Samantha Lewthwaite, a British convert to Islam, is wanted by Interpol over an alleged bomb-plot. How many people convert to Islam, and why? READ

CMI Gold & Silver Spot Prices at NY Close September 30, 2013.

Spot Prices as of close of trading in New York Monday, September 30, 2013 Updated 9/30/2013 Today Change Week Ago Month Ago Year Ago GOLD $1,326.75 -$12.50 $1,328.05 $1,396.40 $1,772.60 SILVER $21.74 -$0.11 $21.86 $23.52 $34.61 PLATINUM $1,405.10 -$12.40 $1,428.80 $1,531.10 $1,665.00 PALLADIUM $730.00 -$4.00 $718.25 $725.20 $643.60 GOLD/SILVER RATIO 61.03