News of the finance

 The following information is for Canada only.  For site visitors outside of Canada, please visit your local government website or speak with your local financial institution to see if a similar program is available for you.

 RRSP's!? I've got bigger things to worry about! This is most likely true, but if you look at how long it will take you to set yourself up with them vs. how useful they actually are, it would be a mistake for you to overlook them right now at this stage in your life.  Here are the reasons why:

•  Who cares about retirement right now! Do YOU? I don't!  At our age, RRSP's are the best tool you can have to provide you with the opportunity to have some easy, "non-liquid" money to put down as part of your down-payment for your FIRST home. 
• Even if you're a starving student, it makes sense to establish an automatic monthly withdrawal from your bank account of as little as $10/month.  After a year, not only will you have $120 in RRSP's, but you will get back 30% of what you have contributed, on your tax return in the spring.  Yup, all of which you can then reinvest into your RRSP and get a return next year of 30% + 30% of your last year's 30% reinvested.  Confused? Doesn't matter.  The point is that it's allllll good.  Don't forget that time + a decent compounding interest = $$$ just keeps growing.
• If you don't do it NOW, you probably won't do it until it's too late.  In order to use your RRSP contributions towards your first home, they have to have been in place for at least 6 months before the official withdrawal date for your First Home Buyer's Plan.
• Oh, and repayment of the borrowed RRSP money towards your first home is easy... Your first two years, there is no obligation for repayment, and then the total amount of RRSP dollars borrowed towards your first home gets divided by 15 (15 years) and you only need to pay THAT amount, every year for the remaining 15 years.  This does not end up being very much money.  You can do the math.
• Stepping out into the real world after post-secondary schooling can be a frightening experience for many.  But if you've already got your feet wet having learned about finances, insurance, investments, it won't seem so bad.  And in this real world,  you'll have the upper hand (with the confidence you'll exude) by walking with your head up high and a strong keen gaze knowing how much power you actually have, by how you've so effectively laid out the path before you.

So here's how it's done:  

•  Assuming you have already made the switch from your traditional bank to an institution that provides No-Fee Banking (if you haven't already done so... look into what your fees are and see if it is worth your time to switch to an institution such as President's Choice Financial or ING or one of others that provide this service) then call your financial institution and let them know that you would like to set up automatic withdrawals from your bank account towards an RRSP savings account.  You can start with $10/month.  Ask a lot of questions and you will learn a lot. You can also check out their websites to see what other types of RRSP's they offer.

Broker-dealers are preparing for upcoming surge in market data. Market data cost reduction is a key priority. Banks are looking to reduce cost burden by selling their own market data. Focus is moving away from market data content and towards market data infrastructure.

Highlights of this title:

Bearing in mind that Reg NMS and MiFID will be fully enacted in October and November this year, respectively, some firms have been investing heavily over the last few months to set up their data infrastructure in order to begin testing in the new environments. In order to fulfill best execution obligations under the new rules, banks will not only have to achieve best price for the order, but they will also have to make sure that they do not miss better opportunities. Hence, this is resulting in brokerages apportioning a significant amount of their IT budget into data handling technology.

Financial News and Information from Financial News Online US
Turnover in the international foreign exchange market grew by more than two thirds to $3.2 trillion (€2.4 trillion) a day during the three years to April, according to the Bank for International Settlements, driven mainly by return-seeking financial investors such as hedge funds.

The bank, which fosters international financial co-operation, said the increase in traditional foreign exchange markets - currencies and some well-understood derivatives - was far stronger than that seen between 2001 and 2004.

The growth was accounted for by increased activity by hedge funds, funds run for retail investors, and technical trading - notably algorithmic trading.

"I don't have any money!"  Believe it or not, I hear this quite a lot. But before you write off your chances of seriously starting and operating a successful home business of your own, I want you to read the following: DooGet is affiliated to companies which can help! As advertised, SFI( http://www.ezinfocenter.com/9859233/FREE ) comes through with it's promise--an Internet business that requires NO money up front! YOU choose the level of your commitment to SFI. YOU choose how far you want to take it. YOU choose the rate of your own home business progress. OK, so you have little or no money with which to start your business. That's alright. We can work around that problem for now.One of the beautiful things about your SFI business is that you can substitute time for money!Any business will take time to build, whether it be an Internet business like DooGet and SFI or a brick-and-mortar business like "Joe's Diner."And although it may be true that investing money into your business will get you where you want to be much faster, it is NOT necessary...so long as you understand this: The road to success is not "closed" by any means, but there will be a few more twists and turns, and it will take just a little bit longer to get where you are going. And that's OK if you know that up front. After all, even with money, the road can be bumpy and long. The good news, though, is that I will provide you with the "map" you need to help negotiate this road with as little difficulty as possible. I've said this before and I'll keep saying it: You must READ, READ, and READ some more! Whether you have money or not, you must educate yourself about your business, its products, and its services. The Training area which you will find when working through the following link: (http://www.ezinfocenter.com/9859233/FREE ) at the SFI Affiliate Center features a comprehensive list of free SFI reports, articles, how-to's, and more.Find out what it is you are selling! Get to know the products and services like the back of your hand. Go over the SFI Website everyday. Take the Smart Start Training course if you haven't already done so. Then, do it again. Ask questions about anything you're not sure of--through your upline support or the SFI Discussion Board.Train yourself as if you were going to train others...because youWILL eventually.  Cost to read: $0.00 Smart Start (http://www.ezinfocenter.com/9859233/FREE ) is the first step in your self-education. SFI knows how important it is for ALL affiliates to have at least a basic knowledge of the SFI System and how you can make money with it. This training session takes no more than 30 minutes of your time. It is the start of your journey. It is a MUST! Cost for Smart Start: $0.00Accumulate SVP by selling SFI products through your personal SFI Gateways to customers, friends, family, etc. After you become an EA (Executive Affiliate), you will need to maintain 10 SVP each month to keep your EA status. You can do this through renewal purchases from your existing retail customers, as well through new customers you attract to your business.  Cost to become EA: $0.00Next, go to the SFI Discussion Board.There you will find a ton of information that will help you withyour SFI business. Also, take the "Internet Income" course, andread the articles in the Training section. And, of course, checkout your personalized PATH report at the SFI Affiliate Center.  Cost for training: $0.00 As you might have gathered by now, you CAN get "something for nothing" with SFI Marketing Group. The secret is simple: You have to WORK for it, and you have to WANT it!! As Henry Ford is oft quoted as saying: "If you think you can't have success or think you can have success--you're right!" Your success begins with the insatiable desire to WANT to change your current situation. http://www.ezinfocenter.com/9859233/FREE  No money? No problem!  Cost to have a dream: $0.00http://www.ezinfocenter.com/9859233/FREE     If you have not yet had a chance to sign up for your website I suggest doing so now by clicking on the link below. http://www.youraffiliatesignup.com/?aff=1413150  I recommend that you choose the PRO PLAN as it has many additional built in income streams. After you get your website activated you should work your way through your to-do-list found in the members area. I suggest that you print out and read my 5 internet marketing guides as these are going to show you how you can become an internet marketing genius to start building up multiple streams of income. The website is just one income stream, you need to use my methods to build up many more.  If you are looking for another Great opportunity, log onto:http://www.theundergroundcashsecret.net/?hop=dooget1  This is a fantastic Product, with great advantages. It has an easystep by step system to insure your success.  To see this weeks suggestions, ideas and great sites, to Improve your financial standing, Log Onto: www.DooGet.com  There is a new trend emerging online in which smart marketers are creating multiple streams of income for themselves... And by doing so they are taking their businesses from profitable to insanely profitable. The real beauty in all of this is that just because you're adding more streams of income into your bottom line...this does NOT mean you're adding more headaches, work, and effort into your daily routine. Because what I'm referring to is almost entirely automated. This means that you set it up once (or have someone else do it for you) and then just keep tabs on it for the occasional tweak. But outside of that your responsibilities really only include counting your money and figuring out what to do with all. Think I'm exaggerating?  Not at all.  I built a multi-million dollar business doing just this.  And if you're ready to do the same for yourself... Then you need to check out this new program at:http://www.dooget.com/out.php?id=3There are limited spots available so be sure to take action quickly! The next one unfortunately is US based, but worth the look……. At Legit Online Jobs, they providing you with detailed information on the top income opportunities from home. We only discuss legitimate ways to earn money. Everything we talk about has been done by thousands of individuals worldwide now earning a better income from home. If you haven't looked over their website as yet, you may do so by visiting  http://getresponse.com/t/8632039/623129/167083397/ If you have any questions whatsoever, you may contact their customer support at anytime by visiting http://getresponse.com/t/8632040/623129/167083397/ Support is available every single day of the week. I have personally checked this one out and it has amazing potential. Here are some other great ideas that could really make you some money. http://www.dooget.com/out.php?id=38 This Network Builder Program enables you to tap into leveraged and residual income by building a network of SFI affiliates. You'll earn income on every single purchase and sale generated in your network! It does 99% of the work your You, Just sit back and enjoy. http://www.dooget.com/out.php?id=31 This is unbelievable! I received a mail form someone who made over $600 dollars in her first week!  http://www.dooget.com/out.php?id=33 Get paid money and prizes to play games that are being developed. Earn up to $20/hr to play games and answer simple survey questions. Find companies that will pay you $100 just to try out their online games. Make an average of $10/hr to watch ads between playing games. Be careful though, it can be quite addictive, although you are making money at the same time…. http://www.dooget.com/out.php?id=4 Create multiple streams of residual income starting today. This Package provides a step by step guide to making money on the Internet. When you purchase the This Package you will also receive over $4000 in bonus items which you can resell and keep all the profits. http://www.dooget.com/out.php?id=23 Case Logic is obsessed with organization!  Shop here! These are all opportunities you can get whilst surfing the Net, if you have the time.One way is by getting paid while you do it. I hope you enjoy trying these links, and manage to make some money whilst doing it.It is really amazing how easy it can be in the end. Dorian StraubDooget@vodamail.co.zawww.DooGet.com DooGet Business Opportunities.

"I don't have any money!"  Believe it or not, I hear this quite a lot. But before you write off your chances of seriously starting and operating a successful home business of your own, I want you to read the following: DooGet is affiliated to companies which can help! As advertised, SFI( http://www.ezinfocenter.com/9859233/FREE ) comes through with it's promise--an Internet business that requires NO money up front! YOU choose the level of your commitment to SFI. YOU choose how far you want to take it. YOU choose the rate of your own home business progress. OK, so you have little or no money with which to start your business. That's alright. We can work around that problem for now.One of the beautiful things about your SFI business is that you can substitute time for money!Any business will take time to build, whether it be an Internet business like DooGet and SFI or a brick-and-mortar business like "Joe's Diner."And although it may be true that investing money into your business will get you where you want to be much faster, it is NOT necessary...so long as you understand this: The road to success is not "closed" by any means, but there will be a few more twists and turns, and it will take just a little bit longer to get where you are going. And that's OK if you know that up front. After all, even with money, the road can be bumpy and long. The good news, though, is that I will provide you with the "map" you need to help negotiate this road with as little difficulty as possible. I've said this before and I'll keep saying it: You must READ, READ, and READ some more! Whether you have money or not, you must educate yourself about your business, its products, and its services. The Training area which you will find when working through the following link: (http://www.ezinfocenter.com/9859233/FREE ) at the SFI Affiliate Center features a comprehensive list of free SFI reports, articles, how-to's, and more.Find out what it is you are selling! Get to know the products and services like the back of your hand. Go over the SFI Website everyday. Take the Smart Start Training course if you haven't already done so. Then, do it again. Ask questions about anything you're not sure of--through your upline support or the SFI Discussion Board.Train yourself as if you were going to train others...because youWILL eventually.  Cost to read: $0.00 Smart Start (http://www.ezinfocenter.com/9859233/FREE ) is the first step in your self-education. SFI knows how important it is for ALL affiliates to have at least a basic knowledge of the SFI System and how you can make money with it. This training session takes no more than 30 minutes of your time. It is the start of your journey. It is a MUST! Cost for Smart Start: $0.00Accumulate SVP by selling SFI products through your personal SFI Gateways to customers, friends, family, etc. After you become an EA (Executive Affiliate), you will need to maintain 10 SVP each month to keep your EA status. You can do this through renewal purchases from your existing retail customers, as well through new customers you attract to your business.  Cost to become EA: $0.00Next, go to the SFI Discussion Board.There you will find a ton of information that will help you withyour SFI business. Also, take the "Internet Income" course, andread the articles in the Training section. And, of course, checkout your personalized PATH report at the SFI Affiliate Center.  Cost for training: $0.00 As you might have gathered by now, you CAN get "something for nothing" with SFI Marketing Group. The secret is simple: You have to WORK for it, and you have to WANT it!! As Henry Ford is oft quoted as saying: "If you think you can't have success or think you can have success--you're right!" Your success begins with the insatiable desire to WANT to change your current situation. http://www.ezinfocenter.com/9859233/FREE  No money? No problem!  Cost to have a dream: $0.00http://www.ezinfocenter.com/9859233/FREE     If you have not yet had a chance to sign up for your website I suggest doing so now by clicking on the link below. http://www.youraffiliatesignup.com/?aff=1413150  I recommend that you choose the PRO PLAN as it has many additional built in income streams. After you get your website activated you should work your way through your to-do-list found in the members area. I suggest that you print out and read my 5 internet marketing guides as these are going to show you how you can become an internet marketing genius to start building up multiple streams of income. The website is just one income stream, you need to use my methods to build up many more.  If you are looking for another Great opportunity, log onto:http://www.theundergroundcashsecret.net/?hop=dooget1  This is a fantastic Product, with great advantages. It has an easystep by step system to insure your success.  To see this weeks suggestions, ideas and great sites, to Improve your financial standing, Log Onto: www.DooGet.com  There is a new trend emerging online in which smart marketers are creating multiple streams of income for themselves... And by doing so they are taking their businesses from profitable to insanely profitable. The real beauty in all of this is that just because you're adding more streams of income into your bottom line...this does NOT mean you're adding more headaches, work, and effort into your daily routine. Because what I'm referring to is almost entirely automated. This means that you set it up once (or have someone else do it for you) and then just keep tabs on it for the occasional tweak. But outside of that your responsibilities really only include counting your money and figuring out what to do with all. Think I'm exaggerating?  Not at all.  I built a multi-million dollar business doing just this.  And if you're ready to do the same for yourself... Then you need to check out this new program at:http://www.dooget.com/out.php?id=3There are limited spots available so be sure to take action quickly! The next one unfortunately is US based, but worth the look……. At Legit Online Jobs, they providing you with detailed information on the top income opportunities from home. We only discuss legitimate ways to earn money. Everything we talk about has been done by thousands of individuals worldwide now earning a better income from home. If you haven't looked over their website as yet, you may do so by visiting  http://getresponse.com/t/8632039/623129/167083397/ If you have any questions whatsoever, you may contact their customer support at anytime by visiting http://getresponse.com/t/8632040/623129/167083397/ Support is available every single day of the week. I have personally checked this one out and it has amazing potential. Here are some other great ideas that could really make you some money. http://www.dooget.com/out.php?id=38 This Network Builder Program enables you to tap into leveraged and residual income by building a network of SFI affiliates. You'll earn income on every single purchase and sale generated in your network! It does 99% of the work your You, Just sit back and enjoy. http://www.dooget.com/out.php?id=31 This is unbelievable! I received a mail form someone who made over $600 dollars in her first week!  http://www.dooget.com/out.php?id=33 Get paid money and prizes to play games that are being developed. Earn up to $20/hr to play games and answer simple survey questions. Find companies that will pay you $100 just to try out their online games. Make an average of $10/hr to watch ads between playing games. Be careful though, it can be quite addictive, although you are making money at the same time…. http://www.dooget.com/out.php?id=4 Create multiple streams of residual income starting today. This Package provides a step by step guide to making money on the Internet. When you purchase the This Package you will also receive over $4000 in bonus items which you can resell and keep all the profits. http://www.dooget.com/out.php?id=23 Case Logic is obsessed with organization!  Shop here! These are all opportunities you can get whilst surfing the Net, if you have the time.One way is by getting paid while you do it. I hope you enjoy trying these links, and manage to make some money whilst doing it.It is really amazing how easy it can be in the end. Dorian StraubDooget@vodamail.co.zawww.DooGet.com DooGet Business Opportunities.

 As many of you know, First Horizon is a full service banking institution with a long and prominent history dating back to 1864.  Throughout it's 100 plus years of banking, First Horizon has made many strategic moves to insure it's independence. Today is no exception, as stated by a letter from the CEO of First Horizon, Jerry Baker:

"First Horizon continues to make progress in adjusting to the current market conditions and preparing for the future.  The next step in this process is the sale of First Horizon Banks.  I have been confident there would be institutions that would find these facilities and employees highly desirable.  The news release below announces agreements, primarily with M&T, Sterling and Fifth Third, that are important and exciting for everyone involved.

I also believe that as we make our company more efficient and complete the sale of these banks and the other changes discussed in recent Updates, we should be ready for profitable growth and expansion.  Sometimes it is necessary to take a step or two backward to be able to successfully take many steps forward.  I am anxious for us to move forward when we are prepared and the time is right.  Thanks for all you are doing for First Horizon, First Tennessee and FTN Financial."

Yesterday, (September 19th, 2007), I received an influx of calls and emails regarding the fed rate cut  from the day before. This was great for me, because it was a welcomed opportunity to talk with customers and to help them relate the news to their daily lives. (I'll post in detail later about what the rate cut means for us. I'm still waiting for the markets to digest the decision.) However, I was more excited by how many of my customers are familiar with Federal Reserve Chairman Ben Bernanke. Is Bernanke a household name?

Ben Bernanke replaced Alan Greenspan as the chairman of the Federal Reserve, and although he may have known this going in, our society has access to so much information now, that it seems everyone's an expert. Experts on stocks, real estate, mortgages, sports, you name it. 

While watching the Florida Gators play the Tennessee Vols at a local sports bar this past weekend,  our conversations consisted of 3 things: 

1. College Football
2. Our friends and families
3. The Federal Reserve's impending rate cut.

I'm not kidding, everyone had predictions, ".25%" "no it'll be .5%", "no, they won't do anything". Everyone was dropping Bernanke's name like a famous star or athlete. "Bernanke has no choice, he's going to have to bail the economy out," said one college football fan to another...

So how well do you really know Bernanke? And I don't mean stuff about Harvard, or his time spent at MIT, or Princeton. I'm talking the in-depth stuff, the nitty gritty. (ok, we are talking about the Chairman of the Federal Reserve here, so I'm not going to surprise you with any earth shattering news.) But, the next time you're hanging with friends, and you want to chime in on the Bernanke talk, here's some interesting stuff:

• Ben Shalom Bernanke was born Dec. 13, 1953, in Augusta, Ga
• Bernanke won the state spelling bee at age 11
• In high school, Bernanke scored 1,590 on his SAT, a near-perfect score.
• In high school he played the saxophone. (as did Greenspan, and let's not forget, Lisa Simpson.) Have any kids? Introduce to them the sax...
• He missed classes at MIT in 1975 because he was busy following the Red Sox in the World Series.
• He was a waiter at a place called "South of the Border". 

Now you have suitable knowledge to share about our famous economic wizard. As Bernanke works hard to keep our economy moving forward, we can officially accept him as a household name.

I keep trying to lose weight... but it keeps finding me!
~Author Unknown

It's that time once again. Two and a half years ago, I lost 14 pounds and then yo-yo-ed with an additional five after that. I started gaining it back last winter and for each of the set of two steroid packets I had to take for the tonsillitis, I gained five pounds. Yes, that's right... I weigh 10 pounds more than I did at the beginning of June. Fuuuun.

So I'm back to my diet as of this morning. I'll be eating six times a day (breakfast, snack, lunch, snack, dinner and snack) but will only be eating approximately 1,200 calories a day. Last time, it only took me six weeks or so to lose it, so I'm hoping to have the majority of it gone by the Military Ball (November 8... 7 weeks away).

Granted, I lost 6 pounds in one week during that time because my dad was so sick and then he died. Not feeling hungry to eat anything at all will do that to you... but I don't recommend it. My body was only able to keep it off because I had been working out and on the diet the weeks before and I kept up the diet after (I was in a bit of a depression and got really sick with a horrible sinus infection, so I didn't feel like working out). This time I know it will take longer as I'm two years older and I will be working this off naturally instead of a bad event happening.

So I'll have a page up under my "Pages" section that will be updated with diet stuff. You can follow it with me. I might even put tips and tricks up there too.

I know there are a million different diets out there and there are people who can prove that each diet works, but when you come right down to it, you don't need them. It's a simple scientific fact: your weight directly corresponds to how many calories you eat vs. how many you expend. To lose weight, you need to be using up more calories than you eat. To maintain, you need to have equal numbers. That's it. Honestly. The hardest part of a diet like this is to figure out how many calories you need and calculating the calories in each food you are eating.

Anyway, more on that in the "Pages" section, which will be called "The Great Weight Debate." Why? Because I like rhymes!

B will also be doing the diet with me. He says he wants to lose 40 pounds. That may sound like a lot, but with him being 6'5", it takes a lot to make any difference at all. Though, honestly, I like him just the way he is but I support him in whatever he wants to do.

As for the weekend, I was able to accomplish 4 1/2 of my 6 goals. Lulu is now up-to-date on her shots, I opened a credit union account (and they think they can drop the interest rate on my car from 5.99% to a flat 5%.. yay!) though I still have to officially switch stuff over, I spent time with B (gotta love that!) and I did catch up on my sleep (and I think my flare is over... yay!). The half goal? I cleaned my bedroom (no more clothes everywhere) and did some dishes and picked up and vacuumed the livingroom (no more ticker-tape parade, Greyhound-style). I didn't get as much cleaning as I'd have liked to, but it's a good start. Unfortunately, I didn't get to see my two friends from Holland, but they never called me to tell me what was going on. Another time, I guess.

CHENGDU, Sept. 22 (Xinhua) -- Huang Jinjiang, a former bank official in southwest China's Sichuan Province, has been given death sentence for accepting bribes, local court sources said on Saturday.

The Ziyang City's People's Court made the first-instance trial on Sept. 5. Huang was also deprived political rights all his life with the confiscation of all his personal assets.

According to the court verdict, from 1993 to 1997, the defendant Huang took advantage of his posts as president of China Agricultural Bank's subsidiary bank of Dazhou city to seek loans for a local firm after accepting bribes.

Huang accepted seven million yuan (about 930,000 U.S. dollars). Meanwhile, Huang's three colleagues, who will be handled in a separate case, accepted and extorted bribes worth of 3.12 million yuan (about 416,500 dollars).

By now, most part of the illicit money has not been recovered.

Huang's crime also resulted in losses of 700 million yuan in bank loans, which cannot be recovered. (about 93.3 million dollars).

From Sina.com

The government's stealth nationalisation of banks continues. Perhaps it didn't start out as a planned process, rather it is borne out of a sticking plaster on a problem worsened, or even triggered, by Labour's incompetence, combined with the enduring socialist instinct that the State can always do better than private organisations and individuals (despite all evidence to the contrary). Nevertheless the latest bleating from Alistair Darling sets out the next step:

Savings guarantee plan considered

... He told the Times newspaper it was a "bullet that needs to be bitten" and would be paid for by a levy on banks....

So, a guarantee system underwritten by the taxpayer - or, more precisely, customers of the levy-payer (though what if the "fund" falls short?). But what's the point? I wanted to put my money into an institution underwritten by the taxpayer then I would buy gilts, or other National Savings product.

Is it fair that a customer of one bank should pay for the guarantee of a customer of another bank, who may not have taken the same precaution of spreading their money across institutions.

"But that sort of cross-subsidy is how insurance works", you may say. Yes, but in most cases I have a choice whether to be part of that insurance scheme, and of which insurance scheme. As I should have a choice whether to save with a bank that has appropriate insurance and accept a lower return / passing on of the levy or an institution outside the guarantee system and achieve a higher return in exchange for the "marginally" higher risk.

Another difference between a voluntary scheme and a state scheme is that you can bet your mortgage that Darling's set-up being inefficient, poorly administered and at some point, following some flimsy justification, subject to a draw-down to fund some other worthy state sponsored cause elsewhere in the Treasury. If you don;t believe me then I have three words for you: "National Insurance Fund".

Yet as I commented earlier, is not the most depressing thought that, despite the reverse-Midas touch that the Government has so often demonstrated, people may still think their money is safer being protected by the Government than by their Bank, when the management of the latter probably has more to lose if it all goes pear-shaped than a civil servant or minister?