Lehman Brothers collapse. Sep. 15, 2008. Stock Market Reactions
Sep 15, 2008. The venerable Lehman Brothers investment bank said early Monday that it will file for bankruptcy, while Bank of America unveiled plans to buy Merrill Lynch — two pieces of news that profoundly alter the American financial landscape. The fast-paced changes capped a roller-coaster Wall Street weekend and threatened to stir up US financial markets already reeling from woes at other major financial firms and mortgage financing titans Fannie Mae and Freddie Mac. "This crisis is clearly deeper than anybody had imagined only a short time ago," Peter Stein, an associate editor at The Wall Street Journal in Asia, told CNN. Lehman Brothers said in a statement early Monday that it plans to file for bankruptcy under Chapter 11 of the US Bankruptcy Code. The 158-year-old investment bank had been undermined by bad bets on real estate — the value of its shares declined 94 percent this year. The fall of Lehman followed a wild, three-day scramble by top Wall Street executives and federal regulators, who worked around the clock to come up with a solution to a still-unfolding financial crisis. By the end of the weekend, the Federal Reserve had stepped in to try to calm the markets by announcing plans to loosen its lending restrictions on the banking industry. A consortium of 10 leading domestic and foreign banks agreed to create a billion fund for loans to troubled financial firms. Source: edition.cnn.com
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Drawing Back The 70% Failure Rate
70% of intergenerational capital transfers become unsuccessful based on a research directed on more than 3,250 households who transported fortunes. Specifically, inherited fortune is degenerated by the inheritors at this strikingly great rate. According to Roy Williams of The Williams Group and his partner Vic Preisser, their study specifies that wealth time and again turns out to be a cause of conflict and disagreement among members of the household. These professional experts examined the occurrence of considerable wealth handover by households in a span of 20 years, comparing effective transferring households with failed ones. They have known the main reasons of the failures and discovered that the main cause was that no post-changeover preparation was working on.
Excerpt:
“70% of intergenerational wealth transfers fail, according to research conducted on over 3,250 families who transferred wealth.”
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Retirement Planning – Spotlight February 2011
www.producersweb.com The February Spotlight on Retirement Planning provides a discouraging look at Americans' retirement savings, featuring a study detailing a significant lack of understanding when it comes to retirement planning; LIMRA's recent findings regarding the shortfalls in women's retirement savings; and a recent Harris poll which found that one-third of Americans have no retirement savings.
Best Retirement Savings Plan: This Book Will Help You Budget How Much For Retirement Is Going To Be Spent On A Qualified Retirement Plan.
Best Retirement Savings Plan: This Book Will Help You Budget How Much For Retirement Is Going To Be Spent On A Qualified Retirement Plan.
Why Your 401K is Impo
Archstone Interest Being Acquired By Equity Residential
Apartment structure contractor and manager Equity Residential declared during the weekend that it has moved in into an agreement to obtain a 26.5% proprietorship interest in privately-detained multi-family apartment contractor Archstone, for $1.325 billion in cash. Conclusion of the deal is dependent on the continuing substantial Archstone owner not working out its right of principal offer to attain the interest from the traders. Equity Residential did not mention the remaining proprietor, but media reports confirm it is what remains of Lehman Brothers, which has allegedly been in talks with Blackstone Group and Brookfield Asset Management to fund a match to Equity Residential’s proposal.
Excerpt:
“Equity Residential said the ownership interests under contract represent one half of the collective interests currently owned by affiliates of Bank of America (BAC) and Barclays (BCS).”
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