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News DeskToday's News from May 13, 2008 |
CURRENT HEADLINESHousing bailout could be less expensive, less effective than predictedMonday, May 12, 2008 A proposal that would have the government help homeowners refinance mortgages they are unable to afford will not help the majority of those in need.According to an analysis of the plan by the non-partisan Congressional Budget Office (CBO), very few homeowners who are at risk of losing their homes will be able to receive help from the plan. This also means the plan may cost taxpayers less than $2 billion, under the amount initially predicted. The report states that there... RELATED Mortgage risk up 16 percent in past yearMonday, May 12, 2008 Mortgage delinquencies will continue to incline throughout the next six to 12 months, according to the Core Mortgage Risk Monitor — an index of foreclosure risk compiled by First American CoreLogic.In fact, this index, which has increased for four consecutive quarters, climbed a total of 16 percent in the past year, according to reports. CoreLogic, a company that examines and analyses trends in home prices, foreclosure rates, economic health factors and fraud propensity, say... RELATED Investments in infrastructure seen as secureMonday, May 12, 2008 The trend of investing in infrastructure, or communications and transportation technology is on the rise. In fact, Morgan Stanley recently established a $4 billion infrastructure fund and General Electric and Credit Suisse closed a $5.6 billion fund.Although infrastructure assets typically provide lower growth than traditional private equity deals, banks and pension funds benefit from stable investments such as utilities, toll roads and airports, according to reports. Morgan ... RELATED Hedge fund compensation proposal reintroducedMonday, May 12, 2008 Proposed legislation to alter taxation practices for hedge fund managers is likely to be reintroduced on Capital Hill this week.According to reports, the proposal, initiated by House Ways and Means Committee Chairman Charles Rangel, D-N.Y., would no longer allow hedge fund managers to defer taxes from their compensation from offshore funds. A similar proposition was introduced by Rangel last year as part of an unsuccessful bill to provide relief for U.S. citizens from the ... RELATED MBIA posts $2.4B lossMonday, May 12, 2008 MBIA Inc. posted a quarterly loss of $2.4 billion on Monday, after taking charges of exposure to bonds linked to subprime mortgages.The charges erased 40 percent of the net worth for the largest bond insurer in the world, however MBIA says they are well capitalized and most of the charges were not actual expected losses, according to reports. The company’s shares went up by as much as 12 percent and new business volumes currently appear to be on the rise, according to the ... RELATED New U.S. Flood Catastrophe Model introducedMonday, May 12, 2008 First American Spatial Solutions, part of The First American Corporation (FAF), announced its new U.S. Flood Catastrophe Model on Monday.The model is a risk management tool enabling insurance companies to gauge their financial exposure to flooding at the portfolio, policy and property level, the company says. The model uses geospatial analytics, basic flood data, flood risk scoring and near real-time monitoring of flood conditions. Additionally, the model takes into accou... RELATED ILFC mulls split with AIGMonday, May 12, 2008 International Lease Finance Corp. (ILFC), a unit of American International Group (AIG), is considering a split with the insurer after reports of financial issues, the Wall Street Journal reports.According to the report, ILFC officials are concerned that AIG’s financial troubles will affect their ability to compete in the airplane leasing industry. However, despite posting a quarterly loss of $7.8 billion last week, officials at AIG say the company remains strong. Finall... RELATED Derivatives & Risk Management Handbook publishedMonday, May 12, 2008 Research and Markets has announced the addition of its Derivatives & Risk Management Handbook 2008/09 to their offering.The forthcoming 15th edition of the Derivatives & Risk Management Handbook once again features a foreword from Robert Pickel of ISDA, and unites contributors from leading investment banks, law firms, market intermediaries and key associations. Exclusive contributions from industry experts ensure an editorial board of excellence and variety, covering the timeliest top... RELATED Americans unprepared for disability riskMonday, May 12, 2008 Nearly 80 percent of working Americans say they would turn to their employer or the government for financial support in the event of a disabling illness or injury, according to a new survey released by the LIFE Foundation.In light of Disability Insurance Awareness Month, the survey of more than 500 American adults indicates that, if they were to become disabled for one year or more, 35 percent of respondents would rely on employer-sponsored disability insurance coverage, 31 percent wo... RELATED Top industry consultant to join FusionMonday, May 12, 2008 Industry consultant Philip Palaveev will next month join the Fusion Advisor Network of Elmsford, N.Y. to serve as its president.Although Fusion currently has more than 200 advisors who manage more than $7 billion in assets, one of his immediate tasks will be to attract and recruit financial advisors, according to reports. Palaveev, who will be based in Seattle, will focus on working with representatives and advisors in practice management, as well as helping Fusion’s adviso... RELATED |
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