Do you have Life insurance or Bonds?

dreamgardenApril 28, 2008

If so, you may want to read this article.

The Great Bond Insurance Cover-Up

by Martin D. Weiss, Ph.D. 04-28-08

A link that might be useful:

http://www.moneyandmarkets.com/Issues.aspx?NewsletterEntryId=1707

Thank you for reporting this comment. Undo
jkom51

Both life insurance with cash value and annuities are 'caveat emptor' products. Most people are better off without either. But then, I'm a level premium term insurance type, LOL.

Ambac and MBIA may crash and burn, but don't kid yourself, other companies will step in. In fact, Warren Buffett's already made several moves in this area. And he isn't the only one flush with cash.

Interest rates and dividends may be adjusted, but the money will continue to circulate, one way or another. The only time money is totally worthless is when it sits inside a mattress and no one knows it's there.

    Bookmark   April 28, 2008 at 10:42PM
Thank you for reporting this comment. Undo
patser

If Ambac, MBIA and FGIC crash and burn, it doesn't mean that the underlying bonds will go belly up. As long as debt service is paid by the issuer, who needs the insurance anyway?

Plus, this business with the insurer's has been going on for months now. Martin Weiss is finally jumping on the bandwagon that others have been aware of for some time.

    Bookmark   April 29, 2008 at 5:59AM
Thank you for reporting this comment. Undo
dreamgarden

"The only time money is totally worthless is when it sits inside a mattress and no one knows it's there."

I disagree. And so do those who are probably never going to see their money again due to all the dirt dealing on Wall Street. At least one consumer group is trying to do something about it.

So What Is The Big Deal About Auction Rate Shares Or Auction Rate Preferred Shares?

* The big deal is pretty simple. According to Americas Watchdog, " it was all $320 billion dollar lie on the part of name brand US banks, financial institutions and stock brokerage firms". Americas Watchdog is demanding US Banks, Financial Institutions or name brand US stock brokers refund the $320 billion dollars they cheated tens of thousands of US consumers out of. This stock broker, US Bank, financial institution fraud is characterized an auction rate preferred shares or an auction rate shares scheme..... "safe, or just like a CD". Not one small investor was ever given a prospectus. Small investors, including retired people were told by a US bank, a name brand stock brokerage firm or financial institution that they, "could get their money out when ever they wanted, there was no risk, the investment was 100% liquid", etc. Now thousands of US citizens cannot get their money out of these "safe" investments. Americas Watchdog has called for the resignation of SEC Chairman Cox over this national outrage. $320,000,000,000 representing the life savings of thousands of innocent US citizens and the SEC does nothing? Americas Watchdog has characterized the auction rate preferred shares and the auction rate shares flim flam as, "the single worst case of fraud in US history". Victims are welcome to call Americas Watchdog at 866-714-6466. How did this happen? According to Americas Watchdog, "it was all about greed and tricking mom & pops into thinking these exotic investments were just like cash".

* If Wall Street, A major US bank or stock brokerage firm would lie to small US investors about the liquidity an investment that was supposed to be liquid, what else have they failed to tell US citizens?

Consumers who feel created by the auction rate preferred shares or auction rate shares fraud are welcome to call Americas Watchdog anytime at 866-714-6466.

A link that might be useful:
ARSWatchdog.Com

    Bookmark   April 29, 2008 at 10:36AM
Thank you for reporting this comment. Undo
joyfulguy

These stinky U.S. funny-bunny mortgages and other supposedly Asset-Backed Commercial Paper ... were some stuff that a bank that I have held shares in were involved with.

Plus - they backed a company that was insuring those mortgages ... that has, recently, been in danger of bankruptcy, I've heard.

The reduction in value that I've had to cope with?

From a year ago - something under $15,000.00 now ... it was more, a while go.

Part of that reduction in value relates to a general drop in the stock market over that period: it's not all related to that financial skullduggery.

ole joyful

    Bookmark   June 4, 2008 at 6:40PM
Sign Up to comment
More Discussions
Accounting Question
I was hoping there'd be an accounting forum her on...
andrelaplume2
Here's a question for those who pay with cash
It happens occasionally, I'll be in a checkout line...
SnidelyWhiplash
refinancing a home
Just learned my interest is 5.25 on our home morgage....
victory_tea2085
I NEED to vent!
I am so UPSET Just received a notice from my credit...
KarenPA_6b
Family Banking Concept, anyone heard of it?
I did a search here and did not see any similiar thread....
rjinga
Sponsored Products
Ash Velvetloft Plush Bed Blanket
$24.99 | zulily
Bel Air Four-Light Bath Fixture
$161.00 | Bellacor
Sonneman Palo Satin Nickel Adjustable Floor Lamp
Euro Style Lighting
Bridgetown 2-Door Media Cabinet
FRONTGATE
Bulbrite Neutral White Dimmable Cool Color Halogen Light Bulb - 8 pk. - BULB656
$63.92 | Hayneedle
Outdoor Lanterns. Stewart 1-Light Outdoor Black Incandescent Wall Lantern
$62.25 | Home Depot
New Amazing Floral Persian Balouch Runner 3'x9' Hand Knotted Blue Wool Rug P901
BH Sun Inc
RGB ColorPlus 4-Channel LED Controller (rain-proof) - 12 or 24 VDC
EnvironmentalLights.com
© 2015 Houzz Inc. Houzz® The new way to design your home™