Have you ever wondered what the heck is a CDO anyway? Or how did CDO’s bring down the world’s greatest economy and lead to a worldwide financial crisis? This is a great demonstration of how CDO’s work and how they were related to the financial crisis.
If you didn’t get a chance to see this on TV when it orginally aired you can watch it online. The show explains the financial crisis and shows how close the U.S. banking system and economy came to a complete meltdown.
Warren Buffet stated in a Reuters.com article that he believes the economy fell off a cliff but will eventually recover. The recovery could trigger inflation worse than the inflation of the late 1970’s.
Despite tightening their wallets, Americans are now further from achieving their retirement goals amidst the weakening economy. That’s the word from Bank of America in its new 2008 Retirement Savings Survey which says that a growing number of Americans are concerned that the current economic crisis is threatening to leave them further behind on their retirement plans.
February 17, 2009……..Comments by Tom Robinson, President
Last week was not pretty for equities virtually anywhere.
February 9, 2009……Comments by Tom Robinson, President
Stock markets generally had a good week last week.
January 26, 2009……..Comments by Tom Robinson, President
There is a new President in the White House, and we all have to wish him well as he tries to deal with the multiple issues that confront the nation.
January 5, 2009…….Comments by Tom Robinson, President
I, for one, am glad that the 2008 stock market is over, that it went out with a bang, and that the new year began on a positive note. In 2008, the Dow’s decline matched the fall in 1930, the S&P 1937, and the Nasdaq’s was the worst on record. Thus, the good news last week that all three indexes were up over 6% was a big positive indeed. Even Europe, after an absolutely horrible 2008, advanced almost 6%. The Asian markets were up but only about half that of Europe. The ten-year Treasury sold off sharply on the week. Oil prices rose.
