billp37

Wall Street Breakfast: Must-Know News

I have a question.

What would happen if a nuke went off accidentially at full yield at KUMSEC?

Best
bill

www.prosefights.org/nm...

This could be bad for our investments?

Wall Street Breakfast: Must-Know News

May 19, 2009 09:32am

PRESIDENT Barack Obama will give Iran until the end of the year to open talks with the US on its nuclear program before pushing for international sanctions. The president set his dialogue deadline for the first time following a meeting with Israeli Prime Minister Benjamin Netanyahu, who fears Tehran is preparing nuclear material to make an atom bomb. ...

"Iran openly calls for our destruction, which is unacceptable," he said.

www.news.com.au/herald...

Bibi may start WWIII.

Imam ghoft een rezhim-e ishghalgar-e qods bayad az safheh-ye ruzgar mahv shavad.

www.thetruthseeker.co....

Here may be the real problem. Both in the US and Iran ... and Israel too.

Thu Oct 02 01:00:00 CDT 2008 A new study released this week highlights what experts have been saying for years: the U.S. faces significant risk of power brownouts and blackouts as early as next summer that may cost tens of billions of dollars and threaten lives.

The study, "Lights Out In 2009?" warns that the U.S. "faces potentially crippling electricity brownouts and blackouts beginning in the summer of 2009, which may cost tens of billions of dollars and threaten lives." ...

www.utilityproducts.co...

Wall Street Breakfast: Must-Know News

Retirees could be in big trouble within the next several years.

Our CREF check was reduced by about $668 per month starting in May 2009.

Here's the CREF announcement.

home.comcast.net/~bpayne37/whitman59/w...

We did have 7 years of good benefits from variable annuity CREF, however.

Wall Street Breakfast: Must-Know News

"OMAHA, Neb., May 3 (Reuters) - Billionaire Warren Buffett on Sunday criticized some life insurers for taking on "crazy" financial risks by selling variable annuities, or retirement products that promised unrealistic guarantees to buyers.

The products are tied to stock market performance and in some cases guaranteed a certain periodic return, while principal could not be eroded by investment losses.

"I always thought they were crazy when they were doing it," said Buffett, at a press conference in Omaha, his hometown, because of the financial risks to the insurer.

Insurers such as Hartford Financial (HIG.N: Quote, Profile, Research) and Genworth Financial (GNW.N: Quote, Profile, Research) have been badly burned by over-selling these products, which performed badly as the credit crisis sent markets plummeting.


The industry’s retirement products guaranteeing minimum returns on equity-based investments were “crazy,” Buffett said today at a press conference in Omaha, Nebraska. Berkshire gets about half its profit from insurance, mostly from property and casualty coverage.


The industry’s retirement products guaranteeing minimum returns on equity-based investments were “crazy,” Buffett said today at a press conference in Omaha, Nebraska. Berkshire gets about half its profit from insurance, mostly from property and casualty coverage.

When insurers “tell the policyholder that he gets some of the up side and you take all the down side, that’s poison,” Buffett said. “That would be like a stockbroker telling you that he’ll pay you back if your stocks lose money.” "

www.bloomberg.com/apps...

Wall Street Breakfast: Must-Know News

The Plug In Vehicle Scam

Listen up America – It's a scam! The emperor has no clothes! There is no such thing as a cost-effective electric vehicle that will carry a family of four at highway speeds. But the cautionary if not downright conservative analysis from sources as diverse and credible as the Department of Energy, the White House and Carnegie Mellon University somehow manages to get lost in a media sideshow that focuses on scientific breakthroughs that promise a 5-minute recharge time for batteries nobody can afford to buy.

seekingalpha.com/artic...

made a splash today.

Seven Uncomfortable Predictions for the Economy

Us septuagenerians who get retirement checks from PRU and TIAA/CREF are attentive to ONE and TWO.

Wall Street Breakfast: Must-Know News

"The elderly have been harder hit than most. Personal bankruptcy filings among those 65 and older jumped 150% from 1991 through 2007, according to a study released last year by AARP. Although they have been known as the most frugal savers, today, many of them are deep in debt and without a safety net. ..."

www.usatoday.com/money...

"March 2009

Re: Upcoming Declines in Variable Annuity Income from the CREF and TIAA Real Estate Accounts

Dear Participant:

In late April, you will receive a Confirmation Statement from TIAA-CREF about annual changes to your variable annuity income that will take effect on May 1, 2009. These changes reflect the performance of the underlying College Retirement Equities Fund (CREF) Stock, Global Equities, Growth, Equity Index, Social Choice, Bond Market, Inflation-Linked Bond and Money Market Accounts, as well as the TIAA Real Estate Account. ..."

jpg below.

home.comcast.net/~bpayne37/whitman59/w...

Wall Street Breakfast: Must-Know News

College and University employees retirements are often funded by TIAA/CREF.

CREF is the variable annuity portion of these employees retirement funds.

TIAA is fixed annuity.

2008 ANNUAL REPORT, COLLEGE RETIREMENT EQUITIES FUND received Monday March 22, 2009 contained truly terrible numbers.

Below is hard to read because the Inception date, 1 year, 5 years, 10 years and since inception must be aligned with columns in the table.


PERFORMANCE OVERVIEW AS OF DECEMBER 31, 2008
Total return Average annual total return
since
Inception date 1 year 5 years 10 years inception


EQUITIES
CREF Stock 8/1/1952 -39.68% -1.49% -0.73% 9.38%
CREF Global Equities 5/1/1992 -42.29 -1.21 -1.01 5.61*
CREF Growth 4/29/1994 -39.78 -3.64 -4.94 4.16*
CREF Equity Index 4/29/1994 -37.50 -2.33 -1.12 6.37*

FIXED INCOME
CREF Bond Market 3/1/1990 1.24 3.53 5.00 6.73*
CREF Inflation-Linked Bond 5/1/1997 -1.78 3.84 6.48 6.09*

EQUITIES & FIXED INCOME
CREF Social Choice 3/1/1990 -23.45 0.23 1.52 7.67*

MONEY MARKET
CREF Money Markett 4/1/1988 2.44 3.18 3.34 4.61”
NET ANNUALIZED YIELD NET ANNUALIZED YIELD
(30-day period ended 12/31/2008) (7-day period ended 12/30/2008)
Effective Current Effective
CREF Bond Market 3.50% CREF Money Markett 1.26% 1.27%



* The performance shown is computed from the inception date of the account (the date on which the account became publicly available). Previously, performance for this account was computed from the day prior to the inception date.
As with all the CREF variable annuity accounts, the funds you invest in the CREF Money Market Account are neither insured nor guaranteed by the Federal Deposit Insurance
Corporation or any other government agency. The current yield more closely reflects current earnings than does the total return.

The returns in this report show past performance, which is no guarantee of future results. Returns and the principal value of your investment will fluctuate. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your accumulation units. For current performance information, including performance to the most recent month-end, olease visit tiaa-cref.org, or call 800 842-2252.

so I post some jpgs at

home.comcast.net/~bpayne37/whitman59/w...

CREF, my wife reports, resets variable annunity in May.

Added Debt Won't Rescue the Great American Ponzi Scheme

Bernie Madoff case may help us recover $22,036 stolen from our Sandia Laboratory Federal Credit Union retirement-protected saving accounts by SLFCU CEO Christopher Jillson.

MarketWatch

Madoff's victims can deduct losses in '08
IRS grants break on investment and 'phantom' income, but carry-back varies

www.marketwatch.com/ne...

pointed us to IRS form 4684

www.prosefights.org/nm...

which is EXACTLY what we need to FIRST try to convince National Credit Union Administration [NCUA] to give us fraud loss restoration of our savings.

Almost unbelieveable is that Ayatollah Sayyid Ali Khamenie and Dr Mamoud Ahmadi Nejad are involved in the reason our $22,036 was stolen.

www.prosefights.org/nm...

We filed an official genocide criminal complaint affidavit against Brzezinski in New Mexico federal 97 CV 266 for

"Nojeh Coup

In July 1980, Zbigniew Brzezinski of the United States met Jordan's King Hussein in Amman to discuss detailed plans for Saddam Hussein to sponsor a coup in Iran against Khomeini. King Hussein was Saddam's closest confidant in the Arab world, and served as an intermediary during the planning. The Iraqi invasion of Iran would be launched under the pretext of a call for aid from Iranian loyalist officers plotting their own uprising on July 9, 1980 (codenamed Nojeh, after Shahrokhi/Nojeh air base in Hamedan). The Iranian officers were organized by Shapour Bakhtiar, who had fled to France when Khomeini seized power, but was operating from Baghdad and Sulimaniyah at the time of Brzezinski's meeting with Hussein. ..."

Let's see what happens?

10 Reasons Why We Still Haven't Hit Bottom

----- Forwarded Message -----
From: "TIAA-CREF" <tiaa-cref@messagin...
To: [e-mail]
Sent: Friday, March 20, 2009 2:01:57 PM GMT -08:00 Tijuana / Baja California
Subject: A Message from TIAA-CREF CEO Roger Ferguson

A Message from TIAA-CREF CEO Roger Ferguson


Dear TIAA-CREF Participant:

The economic downturn continues to challenge investors. Whether you are currently receiving annuity income or are years away from retirement, you may wonder about the economy's long-term prospects and the implications for your financial plan.

I am writing to share my views and to remind you that TIAA-CREF is here to help you keep your financial plan on track.

Recession to Linger

It is likely that effects of the recession will be with us for much of the year. Equity markets will remain volatile, residential housing markets will continue to struggle, and unemployment will rise through 2009 and into 2010.

Many economists, including our own, estimate that U.S. Gross Domestic Product (GDP) will decline this year. We believe that even with considerable fiscal stimulus, GDP could fall 3% or more in 2009. Others will obviously have different views regarding the degree of contraction, but all readily acknowledge the difficulties we face in the U.S. and around the world.

While a sustained rally is unlikely in the near term, markets will eventually recover. Here are some signs of recovery that we hope to see: corporate earnings growth; rising consumption; stable housing prices; fully liquid credit markets offering an environment in which AAA-rated companies are able to borrow at normal rates; and renewed investor confidence.

What Can You Do in the Interim?

More than you might realize.

If you are still years from retirement, I encourage you to take this opportunity to review your long-term plan and ensure that your portfolio is positioned to take advantage of the recovery. If your holdings have fallen in value, try not to make those "paper losses" permanent by selling when the market is down. Consider your risk tolerance, desired cash balance, ability to invest using the dollar-cost averaging method, and other factors before you sell. Remember, too, that market declines may present opportunities to purchase quality assets now at prices that may represent excellent value in years to come. That is another reason why contributing regularly to an employer-sponsored plan is such an important aspect of a secure financial future.

If you have already retired, you too may be able to take steps to enhance your financial security. For example, you may wish to review your allocation to ensure that your portfolio is properly diversified, and consider rebalancing in order to maintain a prudent mix of investments consistent with your goals and appetite for risk.

TIAA-CREF specialists are here to help. They will take the necessary time to answer questions you may have, and to help you make sure that your plans remain on track — one reason, perhaps, why 245,000 people moved their money to TIAA-CREF last year. Please call our Telephone Counseling Center toll-free at 1 800 842-2776 to speak with a consultant or schedule an appointment, or call your TIAA-CREF advisor directly. If you prefer, we are also happy to work with your independent financial advisor to help meet your needs.

I also encourage you to visit our website, tiaa-cref.org, where you will find information on market volatility, highlights of TIAA-CREF's financial strength, and resources that could help you strengthen your portfolio.

Performance for the Long Run

You may wonder how TIAA-CREF is weathering these challenging times. As a major institutional investor, we are not immune from the general downturn in prevailing interest rates or the overall decline in the markets. However I am pleased to tell you that the company remains financially strong and stable, thanks to sober risk management and a long-term investment philosophy.

We ended 2008 with $363 billion in assets under management. While this represents a decrease of about 17% from the prior year, many other financial companies experienced much steeper declines.

The CREF Accounts, which are fully invested in the markets, experienced the greatest impact from volatility, declining 34.4% during 2008, based on total assets under management for the combined accounts.i This corresponds to the major declines in the markets; for example, the S&P 500 Index decreased 38.5% last year.

TIAA-CREF's variable annuity accounts and mutual funds have performed very well relative to peers, according to Morningstar. More than three-quarters (76%) of TIAA-CREF's variable annuities and mutual funds exceeded their category median over the three-year period ended December 31, 2008.ii

In addition, data from Morningstar shows that 99% of TIAA-CREF's variable annuity accounts and mutual funds had an overall rating of three, four or five stars across all asset classes (as of December 31, 2008). Morningstar ratings are based on risk-adjusted returns.iii

Our investment approach and risk management practices have also served us well on the fixed income side, enabling us to avoid exposure to the types of highly leveraged securities that have produced large losses for some financial companies. Unlike other firms, we have not had to avail ourselves of federal government funding. And although we are a market participant, and therefore susceptible to the illiquidity and dramatic pricing moves that sometimes affect fixed income products, our capital base is strong. The crediting rate for TIAA Traditional has remained highly competitive, despite recent reductions that reflect a generally lower interest-rate environment. The TIAA Traditional crediting rate has been higher than the average 10-year Treasury yield and the general rate of inflation for most of the past 28 years. We continue to maintain a strong capital position to support our contractual obligations, income guaranteesiv, and long-term commitment to you.

In Closing

The economic crisis is providing an opportunity for Americans to think anew about retirement security. It is also highlighting the advantages of TIAA-CREF. Dr. William Greenough, who developed the variable annuity – the foundation of CREF – and who chaired our organization for many years, once said:

"We should try to design a retirement plan to work well in times of peace and war, inflation and deflation, depression and prosperity, and all of the other words used to describe and explain the volatile nature of the American economy…"

Dr. Greenough said that in 1954.

We know how challenging this economy can be. I can assure you that we will continue to uphold our mission, managing prudently, maintaining our long-term perspective, and building on our financial strength so that we may continue to serve you.

Sincerely,

Roger W. Ferguson, Jr.
President and Chief Executive Officer"

Who is right?

Another Day, Another $30 Billion AIG Bailout

""Suppose AIG goes bankrupt, it is better that AIG goes bankrupt and we have a horrible two or three years than that the whole US goes bankrupt," Rogers said. "AIG has trillions of dollars of obligations, let them fail, let the courts sort it out and start over. Otherwise we'll never start over.""

www.cnbc.com/id/294763...

For Insurance Companies, Is a Crisis Looming?

"Friday February 27, 7:44 pm ET

CHARLOTTE, North Carolina (AP) -- The outlook for U.S. life insurers dimmed badly on Friday after an across-the-board downgrade from a key ratings agency sent stocks of major companies in the industry plunging by 20 percent or more. ...

Share of major life insurance companies took a beating Friday. MetLife plunged 23.1 percent, Hartford lost 14.8 percent, and Conseco fell 21.9 percent. Aflac Inc. lost 11.6 percent, and Principal Financial Group Inc. sank 24.6 percent. ..."

biz.yahoo.com/ap/09022...

For Insurance Companies, Is a Crisis Looming?

Us Sandia Labs retirees are paid by PRU. Same with JPL retirees.

We are conerned.

More trouble?

"That foolhardy belief, in turn, led A.I.G. to commit several other stupid mistakes. When a company insures against, say, floods or earthquakes, it has to put money in reserve in case a flood happens. That’s why, as a rule, insurance companies are usually overcapitalized, with low debt ratios. But because credit-default swaps were not regulated, and were not even categorized as a traditional insurance product, A.I.G. didn’t have to put anything aside for losses. And it didn’t. Its leverage was more akin to an investment bank than an insurance company. So when housing prices started falling, and losses started piling up, it had no way to pay them off. Not understanding the real risk, the company grievously mispriced it.

Second, in many of its derivative contracts, A.I.G. included a provision that has since come back to haunt it. It agreed to something called “collateral triggers,” meaning that if certain events took place, like a ratings downgrade for either A.I.G. or the securities it was insuring, it would have to put up collateral against those securities. Again, the reasons it agreed to the collateral triggers was pure greed: it could get higher fees by including them. And again, it assumed that the triggers would never actually kick in and the provisions were therefore meaningless. Those collateral triggers have since cost A.I.G. many, many billions of dollars. Or, rather, they’ve cost American taxpayers billions.

The regulatory arbitrage was even seamier. A huge part of the company’s credit-default swap business was devised, quite simply, to allow banks to make their balance sheets look safer than they really were. Under a misguided set of international rules that took hold toward the end of the 1990s, banks were allowed use their own internal risk measurements to set their capital requirements. The less risky the assets, obviously, the lower the regulatory capital requirement. ..."

www.nytimes.com/2009/0...

Cramer's Stop Trading! Zombie Stocks (11/21/08)

Cramer may have done the number on annuity paying insurance companies on Thursday November 13, 2008.

www.cnbc.com/id/158402...

Wall Street Breakfast: Must-Know News

We're trying to recover $22,036 the US government stole from our pension-protected Sandia Federal Credit Union savings account using a bogus court order in our NSA/Nojeh visibility lawsuit.

www.google.com/search?...=

Looks like National Credit Union Administration is going to help us.

www.prosefights.org/nm...

Then we will buy some more CDs, not CDS.

www.economist.com/fina...