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<div class="right cb"> <table border="0" cellpadding="0" cellspacing="0" width="300"><tr><td class="adheader">advertisement</td></tr><tr><td style="vertical-align:top"> <script type="text/javascript">dap('&PG=INVNWS&AP=1089',300,250);</script></td></tr></table> <div class="m1"> <h2>News resources</h2> <table class="t2"> <caption>Today's most mentioned stocks</caption> <tr><td>General Motors Corp (<a href="/web/20081216060137/http://news.moneycentral.msn.com/ticker/rcnews.aspx?symbol=GM" smnu="10020">GM</a>)</td><td><a href="/web/20081216060137/http://news.moneycentral.msn.com/ticker/rcnews.aspx?symbol=GM">69 stories...</a></td></tr><tr><td>Ford Motor Co (<a href="/web/20081216060137/http://news.moneycentral.msn.com/ticker/rcnews.aspx?symbol=F" smnu="10020">F</a>)</td><td><a href="/web/20081216060137/http://news.moneycentral.msn.com/ticker/rcnews.aspx?symbol=F">54 stories...</a></td></tr><tr><td>Goldman Sachs Group Inc (<a href="/web/20081216060137/http://news.moneycentral.msn.com/ticker/rcnews.aspx?symbol=GS" smnu="10020">GS</a>)</td><td><a href="/web/20081216060137/http://news.moneycentral.msn.com/ticker/rcnews.aspx?symbol=GS">41 stories...</a></td></tr><tr><td>Apple Inc (<a href="/web/20081216060137/http://news.moneycentral.msn.com/ticker/rcnews.aspx?symbol=AAPL" smnu="10020">AAPL</a>)</td><td><a href="/web/20081216060137/http://news.moneycentral.msn.com/ticker/rcnews.aspx?symbol=AAPL">38 stories...</a></td></tr><tr><td>Bank of America Corp (<a href="/web/20081216060137/http://news.moneycentral.msn.com/ticker/rcnews.aspx?symbol=BAC" smnu="10020">BAC</a>)</td><td><a href="/web/20081216060137/http://news.moneycentral.msn.com/ticker/rcnews.aspx?symbol=BAC">37 stories...</a></td></tr> </table> <dl class="l1"> <dt>Topics in the news</dt> <dd><a href="/web/20081216060137/http://news.moneycentral.msn.com/category/topics.aspx?topic=TOPIC_HOT">Movers</a></dd><dd><a href="/web/20081216060137/http://news.moneycentral.msn.com/category/topics.aspx?topic=TOPIC_OPINIONS">Investing Opinions</a></dd><dd><a href="/web/20081216060137/http://news.moneycentral.msn.com/category/topics.aspx?topic=TOPIC_ECONOMIC_INDICATORS">Economic Indicators</a></dd><dd><a href="/web/20081216060137/http://news.moneycentral.msn.com/category/topics.aspx?topic=TOPIC_PERSONNEL">Personnel Announcements</a></dd><dd><a href="/web/20081216060137/http://news.moneycentral.msn.com/category/topics.aspx?topic=TOPIC_EARNINGS_RESULTS">Earnings Reports</a></dd> </dl> </div> </div> <style type="text/css">@import url("/web/20081216060137cs_/http://news.moneycentral.msn.com/inc/css/qlist.css?10");</style><form action="https://web.archive.org/web/20081216060137/http://news.moneycentral.msn.com/ticker/rcnews.aspx" method="get" name="QlistCtl" id="QlistCtl"><div id="qlist"><ul class="linklist6"><li class="inputbox"><label for="symbol" accesskey="m">Find news for:</label><input type="text" size="15" maxlength="100" id="symbol" name="symbol" value="Name or symbol(s)" onfocus="if(this.value=='Name or symbol(s)')this.value=''" onblur="if('Name or symbol(s)'.length > 0 && this.value=='')this.value='Name or symbol(s)'"/><input type="submit" id="qlist_go" value="Go" class="b1"/></li></ul><br clear="all"/></div></form> <h1>Minyanville Headlines</h1> <dl class="l1"><dt><a href="providerarticle.aspx?feed=MY&date=20081215&id=9452111">Madoff Fraud Hits Investors Worldwide</a> <span class="s7" datetime="12/15/2008 5:03:19 PM">12/15/08</span></dt><dd> As the full extent of crooked money manager Bernard Madoff’s crimes becomes clear losses are being felt around the world. This morning in Europe Spain’s Grupo Santander and France’s BNP Paribas announced clients and shareholders may be out billions of dollars according to the Wall Street Journal. In Japan Nomura Holdings (NMR) admitted to losses of as much as $302 million. Back in the US the Associated Press is reporting that Goldman Sachs (GS) and money manager BlackRock (BLK) are claiming no exposure. Bank of America (BAC) Citigroup (C) and Merrill Lynch (MER)...</dd><dt><a href="https://web.archive.org/web/20081216060137/http://www.minyanville.com/articles/GS-AXP-ms-XLF-financials/index/a/20347/from/msn" target="_top">Two Ways To Play: Don't Bank On Morgan's Earnings</a> <span class="s7" datetime="12/15/2008 4:49:29 PM">At Minyanville 12/15/08</span></dt><dd> It’s earnings week for financial services companies and Deutsche Bank’s Mike Mayo is already slashing his forecast for Morgan Stanley (MS). According to Bloomberg  the analyst believes profits will plunge nearly 60% as revenues fall to 2005 levels. He expects a 40% drop in so-called “core capital markets revenue” which includes fees from underwriting and merger advice. Also thought to be negatively impacting the quarter is Morgan's mark-to-market losses on company-held assets. Mayo predicts Morgan will earn about $1.55 per share down from his...</dd><dt><a href="providerarticle.aspx?feed=MY&date=20081215&id=9450985">The Return of Absolute Return</a> <span class="s7" datetime="12/15/2008 4:48:24 PM">12/15/08</span></dt><dd>Beware of the blob it creeps And leaps and glides and slides Across the floor Right through the door And all around the wall A splotch a blotch Be careful of the blobBurt Bacharach The Blob The Blob on Wall StreetA morass of government intervention has eaten every company every deal pronounced “too big to fail.” It's the Blob and to understand it we must first understand how and why it was formed in the first place. The evolution of the credit crisis began in the mid 1990s when the money supply began to grow at unprecedented rates. At ...</dd><dt><a href="providerarticle.aspx?feed=MY&date=20081215&id=9450352">Two Ways To Play: OPEC On Slippery Slope</a> <span class="s7" datetime="12/15/2008 3:31:20 PM">12/15/08</span></dt><dd>OPEC Fights For Higher Oil The Organization of Petroleum Exporting Countries is ready to make the biggest supply cut in a decade to stop the plunge in crude oil. The cartel which accounts for over 40% of the world’s oil production will meet tomorrow in Algeria and is expected to cut output targets by at least 2 million barrels a day according to Bloomberg.The plunge in crude prices is creating budget shortfalls globally. Last week OPEC member Ecuador said it will default on foreign debt. Researchers at Citigroup say the U.A.E. Kuwait and Qatar need crude prices above $55 ...</dd><dt><a href="providerarticle.aspx?feed=MY&date=20081215&id=9451763">The Surreal Market</a> <span class="s7" datetime="12/15/2008 1:56:05 PM">12/15/08</span></dt><dd>I'll Pay You to Hold My CashIn the last few weeks we’ve seen 30- and 90-day US Treasury bills occasionally trade at a rate of negative interest. That means someone’s willing to pay for the privilege of having their cash in US Treasuries. Why would anyone want to do this? Is this a sign the system is broken? Are we that scared?Not really. There are some explanations for this seemingly bizarre behavior. First banks are driving the interest rates toward zero. Because their audits come at the end of the year they want to show a liquid pristine balance ...</dd><dt><a href="providerarticle.aspx?feed=MY&date=20081215&id=9451579">White House Bails Out Auto Bailout</a> <span class="s7" datetime="12/15/2008 1:14:25 PM">12/15/08</span></dt><dd>Bailouts are now being bailed out.  After the Senate failed to agree on terms for the rescue of General Motors (GM) and Chrysler Detroit asked the Bush Administration to jump in and play savior. Over the weekend White House officials pored over the 2 automakers' books trying to figure out how much cash the Treasury Department would need to cough up to keep them alive. According to the Wall Street Journal estimates for the total amount vary from $10 billion to as much as $40 billion but no one can seem to agree on how best to spend the ...</dd><dt><a href="https://web.archive.org/web/20081216060137/http://www.minyanville.com/articles/AXP-C-jpm-bac-MA-Credit/index/a/20342/from/msn" target="_top">Quick Hits: Credit Cards Squeezed by New Rules</a> <span class="s7" datetime="12/15/2008 1:10:23 PM">At Minyanville 12/15/08</span></dt><dd> The Federal Reserve is expected to issue new rules Thursday that will change the way credit card companies do business.The proposed new rules would:  Prohibit card issuers from increasing rates as they choose. But there would be exceptions including customers who fail to pay the bill in 30 days. The "universal default" may be banned. Under this rule a bank can change credit card terms if the customer defaults on another bill including utilities gasoline or even a gym membership. "Double-cycle billing" also may be eliminated. This procedure allows credit card companies...</dd><dt><a href="https://web.archive.org/web/20081216060137/http://www.minyanville.com/articles/economy-funds-performance-hedge-merger/index/a/20343/from/msn" target="_top">Quick Hits: Trimming the Hedge Funds</a> <span class="s7" datetime="12/15/2008 1:07:27 PM">At Minyanville 12/15/08</span></dt><dd>About a third of hedge funds will close or merge following the industry's dismal performance this year.Bloomberg News says the $1.5 trillion industry grew to a record 10 233 funds in June. Funds dropped an average 18% through November the worst year on record.IGS Group will team with Grisons Peak to launch a firm that will advise hedge fund managers on mergers. The new group Alternative Investment Management Banking expects to offer advice on 6 to 8 transactions next year.In general hedge funds charge a 2% management fee and retain 20% of profits. It's a good business - but the ...</dd><dt><a href="providerarticle.aspx?feed=MY&date=20081215&id=9451521">Wall Street Journal Calls Google Evil</a> <span class="s7" datetime="12/15/2008 12:35:38 PM">12/15/08</span></dt><dd> Google (GOOG) denies a report in the Wall Street Journal saying it seeks preferential treatment for Internet traffic to and from its websites.The newspaper reported that Google had talked to phone and cable companies about creating a "fast lane" for its content but didn't name its sources. If the report is accurate the proposal would upend network neutrality a long-standing agreement that companies handling Internet traffic treat all content equally.Google called the Journal's story "confused."Richard Whitt an attorney for Google in Washington said in a blog post that The...</dd><dt><a href="https://web.archive.org/web/20081216060137/http://www.minyanville.com/articles/economy-taxpayers/index/a/20324/from/msn" target="_top"> Five Things You Need to Know: Caught Between a Wall and a Main</a> <span class="s7" datetime="12/15/2008 12:03:00 PM">At Minyanville 12/15/08</span></dt><dd>Kevin Depew's Five Things You Need to Know to stay ahead of the pack on Wall Street:  Shot by Both Sides It's Tough Being Mr. Jones Between the news of whatever company is going to be bailed out next and the arrest of Wall Street Superstar "Mr. 12% " Bernard Madoff  Mr. Jones had every right to walk out of his favorite Main Street diner this morning after having enjoyed his typical weekday breakfast feeling perhaps as if he was the only one left out of the secret understanding that seems to pervade all things financial these days. Walking ...</dd><dt><a href="https://web.archive.org/web/20081216060137/http://www.minyanville.com/articles/asia-rally-gm-F-Nikkei-Chrysler/index/a/20337/from/msn" target="_top">Jeff Saut: This Market Wants to Rally</a> <span class="s7" datetime="12/15/2008 12:02:55 PM">At Minyanville 12/15/08</span></dt><dd> Editor's Note: The following article was written by Raymond James Chief Investment Strategist Jeff Saut. It has been reproduced with permission for the benefit of the Minyanville community. Henry Ford while touring a newly automated car plant with then-UAW president Walter Reuther asked “Well Walter how are you going to get these machines to pay union dues?” Reuther replied “But Henry how are you going to get them to buy cars?” Because I grew up in Detroit I often heard Mr. Reuther’s name while adults were discussing the auto industry. In fact hanging above my...</dd><dt><a href="https://web.archive.org/web/20081216060137/http://www.minyanville.com/articles/gm-F-HON-mgm-AET-general/index/a/20338/from/msn" target="_top"> Ticker Shock: Honeywell News Not So Sweet; MGM to Sell Treasure</a> <span class="s7" datetime="12/15/2008 11:51:03 AM">At Minyanville 12/15/08</span></dt><dd>Time just goes so fast. Where did the weekend go? I still have so much shopping to do. Yeesh.Anyway Asian markets moved higher as we slept. The Hang Seng rose almost 2% and the Nikkei was up more than 5%. Europe was showing me some green earlier this morning as well. And here in the U.S. we are currently trading lower.Here’s what’s on my radar today:Honeywell (HON)Honeywell offered up its outlook for 2008 and 2009 earlier this morning. The diversified company came out and said it’s looking for $3.76 to $3.80 a share for 2008. That seems consistent with ...</dd><dt><a href="providerarticle.aspx?feed=MY&date=20081215&id=9451315">Fundamental Tailwinds for Commercial Real Estate Shorts</a> <span class="s7" datetime="12/15/2008 11:50:43 AM">12/15/08</span></dt><dd>Based on some of the emails I received over the weekend there seems to be some real angst associated with long positions in the Proshares UltraShort Real Estate (SRS). Let me revisit the reasons why I’m rather sanguine about my current mark-to-market losses. The data I use below come from the components of the Dow Jones US Real Estate Index (IYR) excluding mortgage and healthcare REITs. On the fundamentals side REITs aren’t in a good place:  The median growth in Funds From Operations (FFO = Net Income + Depreciation + Amortization - Gains on Sales Of Property) is estimated ...</dd><dt><a href="https://web.archive.org/web/20081216060137/http://www.minyanville.com/articles/GS-jpm-libor-morgan-JP-CHASE/index/a/20334/from/msn" target="_top">Prieur's Perspective: 2008 in Like a Bear, Out Like a Lamb?</a> <span class="s7" datetime="12/15/2008 10:33:29 AM">At Minyanville 12/15/08</span></dt><dd> Despite a litany of bleak economic and corporate news during the past week global stock markets digested the bearish fodder with a sense of aplomb. The MSCI World Index and the MSCI Emerging Markets Index gained 4.4% and 10.9% respectively on the week with other reflation trades such as gold (+9.1%) and oil (+20.4%) also putting in a strong performance.But investor angst was never completely allayed as seen from the yields on US 1 and 3-month Treasury Bills briefly trading in negative territory for the first time since 1940 indicating the willingness of risk-averse investors to pay the...</dd><dt><a href="providerarticle.aspx?feed=MY&date=20081215&id=9450877">Hold the Steak Knives: QVC Falls On Harder Times</a> <span class="s7" datetime="12/15/2008 9:53:03 AM">12/15/08</span></dt><dd> I’ve never bought anything from QVC (LINTA) - but I’ll admit I’ve been tempted. Years ago I’d find burly men screaming at me from the television late at night telling me about a once-in-a-millennium opportunity to buy a set of Barry Bonds cards or mint-condition collectible coins. It was so hard to resist. Unlike me millions of Americans don’t even try. The Liberty Media-owned QVC -- which stands for Quality Value and Convenience -- epitomizes America’s consumerist ethos: Shopping as sport. That we’re a debtor nation owes in some part to QVC - or to...</dd></dl><a class="a1" href="provider.aspx?feed=MY&iPage=1">More Minyanville headlines...</a> <br/> <dl class="l3"> <dt>More News</dt> <dd class="i1"><a href="/web/20081216060137/http://news.moneycentral.msn.com/briefing/StockTicker.aspx">Market Report</a></dd> <dd><a href="/web/20081216060137/http://news.moneycentral.msn.com/ticker/rcnews.aspx?symbol=">News by Symbol</a></dd> <dd><a href="https://web.archive.org/web/20081216060137/http://articles.moneycentral.msn.com/Commentary/ByDate/InvestingThisWeek.aspx">Today's Investing Articles</a></dd> <dd><a href="/web/20081216060137/http://news.moneycentral.msn.com/newscenter/newscenter.aspx">Breaking News</a></dd> <dd><a href="/web/20081216060137/http://news.moneycentral.msn.com/category/topics.aspx">News by Topic</a></dd> <dd><a href="/web/20081216060137/http://news.moneycentral.msn.com/category/industries.aspx">News by Industry</a></dd> <dd><a href="https://web.archive.org/web/20081216060137/http://moneycentral.msn.com/investor/market/msnbc.asp">MSNBC News</a></dd> </dl> <dl class="l3"> <dt><a href="https://web.archive.org/web/20081216060137/http://moneycentral.msn.com/home.asp">MSN Money</a></dt> <dd class="i1"><a href="https://web.archive.org/web/20081216060137/http://moneycentral.msn.com/money.search">Search MSN Money</a></dd> <dd><a href="https://web.archive.org/web/20081216060137/http://moneycentral.msn.com/community/message/default.aspx">Message Boards</a></dd> <dd><a href="https://web.archive.org/web/20081216060137/http://moneycentral.msn.com/common/networkstatus.asp">Site Status</a></dd> </dl> <div class="parent single1"><div class="child c1 first"><ul class="singlelist2"><li><a href="/web/20081216060137/http://news.moneycentral.msn.com/inc/attributions.asp" target="_top"><b>Data providers</b></a></li><li><nobr>Copyright © 2008 <a href="https://web.archive.org/web/20081216060137/http://www.reuters.com/" target="_top">Thomson Reuters</a>. <a href="https://web.archive.org/web/20081216060137/http://about.reuters.com/media/customer_support/branding/popups/full_legal_notice.htm" target="_blank">Click for Restrictions.</a></nobr></li><li>Quotes supplied by <a href="https://web.archive.org/web/20081216060137/http://www.interactivedata-rts.com/" target="_top">Interactive Data</a>.</li></ul></div></div></div></div></div> <div id="foot"><div class="parent chrome6 single1"><div class="child c1 first"><div class="msnfoot1 cf"> <ul class="primary"> <li class="first"><a href="https://web.archive.org/web/20081216060137/http://g.msn.com/0PR_/enus" target="_top">MSN privacy</a></li> <li><a href="https://web.archive.org/web/20081216060137/http://g.msn.com/0TO_/enus" target="_top">Legal</a></li> <li><a href="https://web.archive.org/web/20081216060137/http://g.msn.com/0nwenus0/AD/19" target="_top">Advertise</a></li> <li class="last"><a href="https://web.archive.org/web/20081216060137/http://moneycentral.msn.com/community/rss/MoneyFeeds.aspx" target="_top">RSS</a></li> </ul> <ul class="secondary"> <li class="first"><a href="#" onclick="javascript:top.DoHelp();return false;">Help</a></li> <li><a href="#" onclick="javascript:top.O_LC();return false;">Feedback</a></li> <li class="last"><a href="https://web.archive.org/web/20081216060137/http://moneycentral.msn.com/help/sitemap.asp" target="_top">Site map</a></li> </ul> <div class="copyright"><span>© 2008 Microsoft</span></div> </div></div></div></div>  </div><div style="display:none"> <script type="text/javascript">var s_account="msnportalmoney";</script> <script type="text/javascript" src="https://web.archive.org/web/20081216060137js_/http://blstj.msn.com/br/om/js/s_code.js"></script> <script type="text/javascript" src="/web/20081216060137js_/http://news.moneycentral.msn.com/inc/chan/omni.ashx?p=%2fprovider%2fprovider.aspx&v=10"></script> <noscript><img src="https://web.archive.org/web/20081216060137im_/http://msnportalmoney.112.2o7.net/b/ss/msnportalmoney/1/H.1--NS/0" height="1" width="1" border="0" alt=""/></noscript> </div><script type="text/javascript">if(typeof(top.LogErr)!="undefined")window.onerror=top.LogErr;</script> </body> </html>