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  • #AceNewsGroup 20:55 on May 21, 2013 Permalink
    Tags: #FannieMae, Treasuries,   

    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

     
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  • #AceNewsGroup 21:48 on April 2, 2013 Permalink
    Tags: , FCA, , Goverment, , ,   

    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.

     
  • #AceNewsGroup 20:33 on December 3, 2012 Permalink
    Tags: , , , Social enterprise, Social Enterprise UK, Too Big To Fail, ,   

    Private Healthcare Companies Are Too Big To Fail 


    Standards in social are being undermined because the handful of private

    English: Wall Street sign on Wall Street

    English: Wall Street sign on Wall Street (Photo credit: Wikipedia)

    companies which dominated public sector contracts are deemed too big to fail, according to a report by Social Enterprise UK. The report’s authors said that Britain faces “another banking crisis” in the care sector unless charities and social enterprises are given a greater slice of the market.

    Ace News Desk: Our take on the story based on:

    ” Banks Being Too Big To Fail”

    There was a phrase someone time ago, that l remember well and it went like this:    ” The  Bigger You Are The Harder You Fall” but we live in times of austerity whereby the rich do not get touched by the hardship of the poor!

    Although we have a broken country and the 2008 crisis led us to the brink, we never saw any bank of size fail! Oh initially they were stating that they were unable to trade, due mainly to liquidity. But this liquidity existed in one country at the time, as they moved their funds around! The country in 2008 that brought us the brink was the United States Of America and they had a street that was ” Walled” like some ancient wall of Jericho, and we all know what happened to that eventually, but not now!

    But in this global world of cross fertilisation of currency and ideas, it was not long until we were to witness, that what ever happens across the pond, eventually arrives on the United Kingdoms shores!  Then like a greedy monster, it started to devour every financial product insight, just to protect itself!

    This was to continue to “ricochet” backwards and forwards for three whole years, with the “blame culture” evident and Wall Street putting up the barriers to protect themselves! The words “Too Big To Fail” became the “Watchwords of the Day” and these monoliths of investment were looking like they may tumble! But they did something, that no other establishments had ever done! They had protected themselves by designing a system, that would stop all comers getting beyond their firewalls, these ” Seven Wall Street Banks” were protected by protecting each other! They defied all rules of “Financial Regulatory Controls” in place at the time, and did not fail!

    Now fours years on it is the turn of the ” Healthcare Industry” to become “Too Big To Fail” and then as more of these massive, uncontrolled corporations and institutions, see it works!

    Five Giants Of Care According To The Beverage Report

    Five Giants Of Care According To The Beverage Report

    Another phrase comes to mind

    “Much Wants More And Greedy Wants The Lot

     
  • #AceNewsGroup 15:54 on July 30, 2012 Permalink
    Tags: David Viniar, Goldman, , , John D. Rockefeller, , , Wall Street Crash of 1929   

    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 !

     

     

     
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