12%ayear's Account Talk

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I listened to Chuck while I was at the gym today.

Funny thing, he didn't have any suggestions to fix it. He also didn't mention why LAWMAKERS (read: CONGRESS) failed to prohibit almost limitless leverage by hedge funds.
 
anidoc said:
How can he "fix it" - meaning Bush? Bush can't even see his mistakes let alone admit them. He's still firmly focused on Iraq.:mad::p
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Hey, regulations are supposed to be a bad thing, right? Ruin U.S. competitiveness. :p Problem with this unfettered market, we've got players who complain when they roll snake eyes, and they expect the house to re-imburse them, and who also play "London Bridge" and demand to get unlocked when the debt bridge traps them. And the complainers are getting their wishes.
 
Wow, what surprising news we have had the last several weeks. Notice how they squeeze them during trading hours. That is why my timing has been off lately. no excuse. Well over the weekend, they will pouring over deals to ease the pain. I see a bounce back next week on Fed week. Stayed postioned in the S Fund. I am not worried. BTW all three funds are beating me for now. Lets see who is ahead by 12-31-2008. ;)
 
There’s been quite a bit of discussion in various member’s Allocation Account talk threads about the threat of restricting members to mail only changes if a certain number of IFTs are exceeded in a given month. Like most, I scoffed at this – believing, as many did, that this would take too long to implement. Let me tell you what arrived yesterday via certified mail….

I got a letter from the Executive Director (Gregory T. Long) of TSP stating that because I had exceeded the number of trades in February, as of March 31st 2008 I will no longer be able to post trades electronically. All further trading will be done via mail. They were so kind to enclose 3 envelopes to assist me.

So you may want to rethink your strategies – you may be getting something soon if you don’t. I live in the DC area so perhaps I got my letter earlier than others. I’ll be curious to hear what happens to others. BTW, I probably made around 6 trades in February.

I won’t be sitting idly by, calls will be made and I’ll follow up with my local reps (I’ve already sent something to my Senators and Representative last month, we’ll see what happens now.

BTW, I subscribe to several different member threads so I am cross posting this message in those as well – sorry for the duplication but I think you should be aware that the threat was not idle.
 
My concern is are we going to ever be able to do the tranfers on line again or are we punished for life by having to mail them in. I thought that the new software will allow all of us to make those 2 EFTs per month on line.
 
12%ayear said:
Breaking News......JPMorgan Close to Deal for Bear Stearns
http://biz.yahoo.com/ap/080316/wall_street_week_ahead.html +Fed Cuts= Rally. IMO the bottom has been reached short-term. I see smart money coming in this week. :D
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I feel the same way 12, that's why I'm in Monday, still trying to decide what to do Tuesday. If the FED talks good, which is a cut of at least .75%, I think I'm out COB Wednesday. Was thinking COB Tuesday, but hell if your going for it go for it. We are still in a Bear Market in my opinion, haven't seen the bottom yet. There is lots more of the same as what happened to Beat Sterns to come so I'm still in the CP mode. Too bad I can't jump in and out like we did before BIG BROTHER stopped us from managing our retirement funds!:cool:
 
nnuut said:
I feel the same way 12, that's why I'm in Monday, still trying to decide what to do Tuesday. If the FED talks good, which is a cut of at least .75%, I think I'm out COB Wednesday. Was thinking COB Tuesday, but hell if your going for it go for it. We are still in a Bear Market in my opinion, haven't seen the bottom yet. There is lots more of the same as what happened to Beat Sterns to come so I'm still in the CP mode. Too bad I can't jump in and out like we did before BIG BROTHER stopped us from managing our retirement funds!:cool:
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nnuut, I think we have until March 31 to make all the trades we want. My only question is what will be the max.transfers we can make including the G Fund when the new policy kicks in for everyone??? I think its 5 right??? ty
 
12%ayear said:
nnuut, I think we have until March 31 to make all the trades we want. My only question is what will be the max.transfers we can make including the G Fund when the new policy kicks in for everyone??? I think its 5 right??? ty
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Someone has to clarify this!!
The way I see it you get 2 IFTs if your 1st or 2nd is to the "G" it counts. After you make two IFTs you can transfer unlimited times to the "G". For example if on my 2nd IFT I went 100% to the "I" Fund I should be able to make 10 10% IFts to the "G" until I'm 100% "G". That's the way it is written "unlimited IFTs to the "G". BUT! And that's what I may do!:cool:
 
12%ayear said:
nnuut, I think we have until March 31 to make all the trades we want. My only question is what will be the max.transfers we can make including the G Fund when the new policy kicks in for everyone??? I think its 5 right??? ty
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The proposed rule change will allow 2 plus one emergency IFT to the G fund.

Example:

G to C to G = done of 2 IFT

G to C to I to G = done or 3 IFT's
 
Show-me said:
The proposed rule change will allow 2 plus one emergency IFT to the G fund.

Example:

G to C to G = done of 2 IFT

G to C to I to G = done or 3 IFT's
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I know that's probably what they ment to say, BUT:
UNLIMITED
- having no limits in range or scope; "to start with a .theory of unlimited freedom is to end up with unlimited despotism"- Philip Rahv; "the ...
- outright: without reservation or exception
- inexhaustible: that cannot be entirely consumed or .used up; "an inexhaustible supply of coal"
wordnet.princeton.edu/perl/webwn
 
JPMorgan says it is would buy ailing Bear Stearns for $2 a share
Sunday March 16, 7:12 pm ET

NEW YORK (AP) -- JPMorgan Chase says it will acquire rival Bear Stearns for $2 a share in a move aimed at averting spreading panic in the financial markets over tightening credit.
JP Morgan says the all-stock deal has received the required approvals from the federal government and the Federal Reserve.
The Fed will provide special financing to JPMorgan Chase in connection with the deal. The central bank has agreed to fund up to $30 billion of Bear Stearns' less liquid assets.
 
That has to be a big mistake.....Typo.. No way!! Look at the futures, they would be down huge if that was true.
 
350zCommTech said:
Give it time....:D
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read this.. http://news.smh.com.au/bear-stearns...organ-chase-for-22-bil-wsj/20080317-1zu9.html also.. reports Bear Stearns Companies (BSC) and J.P. Morgan & Chase (JPM) are pushing hard to complete a deal which would see JPM buy the fallen star for under $20/share, one-third lower than Friday's $30 close. Bear in mind shares peaked at $170 just over one year ago.
bsc_16_03_2008_22.jpg
Treasury Dept. spokeswoman Michele Davis said Sunday afternoon it was expected a deal would be closed by early evening, before the Asian markets open, but cautioned, "None of these things is done until they're done." One point of contention was how much of Bear's risk J.P. Morgan would absorb; sources say CEO James Dimon was reluctant to pursue the deal "without certain assurances that would protect his firm's exposure."
Financial regulators have a vested interest in the acquisition: A Bear failure could snowball into a systemic financial market crisis, because Bear trades with virtually every other firm on Wall Street. Still, Bear is preparing for the possibility of a bankruptcy filing in case talks break down; it is possible such a filing could take place before the Monday open of overseas markets.
A $20/share price tag would leave Bear shareholders with just $2.24B, meaning its entire banking franchise is worth about $1B after netting out its Madison Ave. headquarters which are worth about $1.2B.
eli_hoffmann_2.jpg
 
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