#AceNewsGroup says to All its Readers “Thank You for 1000 Likes on Our Posts”


WP Like Button#AceNewsGroup says today marks another milestone for our group and it is all thanks to you the readers kind support and all your likes, as we have reached 1000 and we could not do it without your support.

So all l can say is a great big thank you from the Ace News GroupThanks in all languages   

 

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Energy-Companies-Allowed-to-Increase-Prices-Government-has-No-Comment


Edward Davey, Secretary of State for Energy, responds to Npower‘s announcement about the rise of their energy tariffs

Energy and Climate Change Secretary Edward Davey said:

“This is another disappointing announcement from a big energy company. Some of the Big 6 seem not to have noticed that they are no longer alone in the market – there are now fifteen small suppliers, and some really competitive fixed deals out there.

“Today I’m publishing hard figures on the costs energy companies really face in delivering the Energy Company Obligation (ECO), so consumers can see what this scheme is really costing energy companies.

“These figures – supplied by the energy companies themselves – show that the costs are in line with previous schemes so there should be no need for any increase to consumer bills due to ECO.”

 EDITORS Comment:   

The pussy footing of the Energy Minister is evident in this statement as comments, such as this leads us evermore into a state of the consumer pays higher and higher energy prices, just to stay warm! The fact that these companies bosses award themselves larger and larger pay rises, the energy shares rise ever higher, and our Energy ministers best advice is shop around, provides us with no confidence at all that this government will curtail these 6 giants!

He states that he is going to tell us how hard done by the energy companies are with a new report ,but look at their profits year on year and bonus payments for delivering what, higher bills, lack of investment into new infrastructure, and above all no sign that this Energy minister has any intention of taking our grievances any further.

So what next well we already know that Osborne is climbing into bed with the French company EDF, but with the added bonus {for them}, not us, that the Chinese will be taking a 20% stake. Of course we are told that the company EDF will not take any tax payers money – that is at the front end of course, not the same situation at the end of building the nuclear power plant. Then they will get a price of £92.50 per therm of electricity provided, but as ED Davey said on BBC Radio Four today ,it will drop to £89.50 ,providing they sign-up for another deal on another plant.

Well as Ed Davey was asked by Stephanie Flanders Financial Correspondent on BBC Radio Four, does this mean the UK get to invest in the Chinese Energy Markets? – he declined to answer, changed the subject and was cut-off! He returned later with the same rhetoric as we have heard so often before, and it goes something like this ” Without this type of Investment into our Energy Industry we cannot sustain prices as we do now” what are we sustaining! 

Is that not how this speech started, in the first place, all about the rise of energy tariffs, let me check! Yes l was right the speech was headed:Edward DaveySecretary of State for Energy, responds to Npower‘s announcement about the rise of their energy tariffs.  

Has he forgot so quickly what he said on the 21st October 2013 – hang on a minute that is today.                      

Cash for access: Clegg pledges new regulation to tackle lobbying – Telegraph


Following disclosures by The Telegraph about MPs and peers taking money from undercover reporters posing as lobbyists, the Deputy Prime Minister pledges to bring in laws to create a “cleaner, better politics”.

Writing in The Telegraph, Mr Clegg says the lobbying scandal has again shown that our “political system has long been crying out for head-to-toe reform”.

His comments came as a peer, Lord Laird, resigned from the Ulster Unionist Party. Two other peers were suspended by Labour after further cash-for-questions revelations.

The MP Patrick Mercer has already quit the Tory party following an investigation by The Telegraph and BBC’s Panorama that revealed he tabled parliamentary questions and motions and offered lobbyists a security pass to the Commons after being paid thousands of pounds.

Cash for access: Clegg pledges new regulation to tackle lobbying – Telegraph.

Fannie Mae Prices $1.02 Billion Multifamily DUS REMIC (FNA 2013-M7) Under Its Fannie Mae GeMS(TM) Program


WASHINGTON, May 21, 2013 /PRNewswire/ – Fannie Mae (OTC Bulletin Board: FNMA) priced its fifth Multifamily DUS® REMIC in 2013 totaling $1.02 billion under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS) program on May 16, 2013.

“We saw strong demand in FNA 2013-M7 at several points on the yield curve as Treasuries sold off and the curve steepened while the deal was in the market,” said Kimberly Johnson, Fannie Mae Senior Vice President of Multifamily Capital Markets.  “The rising rate environment gives investors a chance to purchase bonds below par, which increased participation in the deal.”

http://www.prnewswire.com/news-releases/fannie-mae-prices-102-billion-multifamily-dus-remic-fna-2013-m7-under-its-fannie-mae-gems-program-208368421.html

Who Were The Real Fools On April Fools Day!


On this day we call April Fools Day, the UK Goverment fooled the people of Britain, by giving them just what they wanted! Namely their own way in the fact they believed the rhetoric they were told, and our health services were changed forever. Not just that they gave total control to the. “Bank of England” (BOE), allowing them to create the next financial crisis. Finally having convinced us all our benefits system is costing too much, especially the people who have too much, over the working people. They destroyed the benefits system in one swipe of the pen! Not bad on a day we call ” April Fools Day” the real question. Who were the real fools on that day? l will leave you with this question, but harken to these words” Make your decision based on what you want, and not what you need.Then the day will come when you will say”Why am l suffering, l never did anything for this to happen to me,” the answer is your forgot other people in favour of your own selfish wants!

Posted from WordPress for BlackBerry.

My Debt Reduction Analysis Plan


Wipe our Debt

Wipe our Debt (Photo credit: Images_of_Money)

privacy

privacy (Photo credit: Sean MacEntee)

Many times l would end up going to court for my clients in the past and finding out, sometimes too late they had paid other less important debts. My usual way to handle this was to approach finance companies and make an arrangement with their creditors! This would enable them to reduce their overall costs and reduce payments, enabling the courts to agree to give them more time to pay!

Over the past few years and having got people out of debt for over 30 years, l have now using my life-time consumer credit licence have put in place a way to roll-up all their debts and reduce their costs under my ” Debt Reduction Analysis Plan ” and providing clients tell me the truth l can offer this service and get all their lenders to come to some amicable arrangement. But l caution anyone using this arrangement to make sure that once they have agreed the amount to pay, do not miss any payments! If they do then all will revert back to previous amount of credit repayments!

Also l do not get people out of debt by borrowing more money like many organisations, as this just adds more debt and leaves clients in a worst place. Anyone need professional help and guidance please visit my website and leave your details, l will try to help!

IMPORTANT: 

For people reading my first post on what my profession is l am licensed under Consumer Credit Licensing Bureau provided by the Office Of Fair Trading under: License Number: 628783 to carry-out the following business:

* Consumer Credit

* Consumer Hire

* Credit Brokerage

PS: All information on comments gets vetted before approval so that nobody has any personal information shared this protects you under ” Data Protection ” for your privacy.

How The Economy Collapsed As Goldman Sachs Thrived


 

Borrowing Under a Securitization Structure

Borrowing Under a Securitization Structure (Photo credit: Wikipedia)

 

English: Sign of the times - Foreclosure

English: Sign of the times – Foreclosure (Photo credit: Wikipedia)

 

I received a message courtesy of a news alert from New York Times on the morning of April 24 2010 saying breaking news alert. Now remember it was in 2008 when all hell was let loose on our economies and this was now 2010!

 

But the real story goes back to late 2007 as the mortgage crisis gained momentum and many banks were suffering losses! A fact that had never ever happened since well the great depression of 1930′s that started as this extract shows –

 

Extract One -

 

Economic historians usually attribute the start of the Great Depression to the sudden devastating collapse of US stock market prices on October 29, 1929, known as Black Tuesday;[9] some dispute this conclusion, and see the stock crash as a symptom, rather than a cause, of the Great Depression.[3][10]

 

Even after the Wall Street Crash of 1929, optimism persisted for some time; John D. Rockefeller said that “These are days when many are discouraged. In the 93 years of my life, depressions have come and gone. Prosperity has always returned and will again.”[11] The stock market turned upward in early 1930, returning to early 1929 levels by April. This was still almost 30% below the peak of September 1929.[12]

 

 We never saw a return to so-called prosperity but in fact learned to embrace borrowing and lending as a way of life! Was this to protect our interests as consumers or just to play us like a game of chess, my personal believe is to play us and my reason will become clear very soon.

 

So let us return to this news alert of how as banks were suffering losses, Goldman Sachs executives traded email messages saying that they were making ” some serious money” betting against the housing markets!

 

It went onto say the emails released Saturday morning by the Senate Permanent Subcommittee on investigations, appear to contradict some of Goldman‘s previous statements that left the impression that the firm lost money on mortgage related investments!

 

It concluded in saying that in the emails Lloyd C Blankfein the banks chief executive, acknowledged in November of 2007 that the firm had indeed lost money initially. But it later recovered from those losses by making negative bets, known as short positions, ” enabling it to profit as housing prices fell and homeowners defaulted on their mortgages”

 

The final comment tells us all ” Of course we didn’t dodge the mortgage mess ” he wrote ” We lost money, then made more than we lost because of short’s”

 

As matters progressed it was revealed in statements made by people involved such as David A Viniar- In another message, dated July 25, 2007, David A. Viniar, Goldman’s chief financial officer, reacted to figures that said the company had made a $51 million profit from bets that housing securities would drop in value. “Tells you what might be happening to people who don’t have the big short,” he wrote to Gary D. Cohn, now Goldman’s president.

 

The sheer fact that betting on the fact of a falling mortgage market that could so easily have been manipulated by such cavalier attitudes to lending with the growing sub-prime market overheating! With of course the inevitable consequence of defaults was seen as a ” Gold Man” opportunity to make a lot of money, off the backs of people drowning in debt!

 

The additional factors of that selling short and buying long but in this case they had lent long at good over the top interest rates and now were selling short the borrowers.

 

Having used products designed with the intention of investment and utilising them to sell money and then to capitalise on the fact that people were failing to pay, it was a win win situation for making money. The fact that a number of companies set-up specifically to lend in this market were partners of Goldman Sachs made it so much easier and once it was all over just let them fall into bankruptcy or administration as examples of risky lending. This of course left the door open for tighter and tighter financial regulation. The fact that the banks would say yes but all the time having made their money in huge investments, they could now divest themselves of outside investors [The People] and concentrate on internal product design having learned how from this crisis. If they could make a billion then they could make a trillion by tweaking control of their products and sell them through ” third-party intermediaries” who should it all go wrong they would carry the can. As we all saw with a number of smaller financial companies going to the wall!

 

The world eventually recovered from the 1930′s crash and again in the 1990′s [ which  l will cover in more depth in another post] but this disaster is still not over! It looms like a black cloud daily overhead, blighting our lives and the imminent words uttered by governments and politicians alike about austerity. The fact is a lot of people suffered and some are still suffering from the 2008 crisis, but a lot made a lot of money and they made it out of manipulation of your savings, investments and borrowing! They never suffered like so many they have just got wise to the fact of how to avoid taxation and also make more money!

 

So in conclusion l say these banks and especially Goldman Sachs cannot fail not they are too big but they are like so many corporate entities, they know how to manipulate the system and most worrying how to manipulate people, using the simple watchwords! WANT – AND – GREED !