Monday, April 14, 2008
The continued struggles of the banking industry to
stabilize itself concerns many who have invested
for years in 401k's, the stock market etc... in hopes
of long term residual income upon their retirement.
The latest news shows that many institutions are
still reeling from over extending loans and credit
"The Fed has been holding auctions to supply
direct loans to commercial banks every two weeks
In addition to the auctions which supply loans for
28 days to commercial banks, the Fed announced
last month that it was employing Depression-era
provisions to allow investment banks to borrow
directly from the Fed. Previously, only commercial
banks had that privilege."
(source: Associated Press)
Many of us are facing the uncertainty these
challenging economic times offer with trepidation.
Concerns are growing in this climate the
investments and savings we thought were once
secure for our retirement years are now in question.
Others who thought they could depend on those
long term residual investment funds are losing their
401k's by getting edged out of their jobs for
younger lesser paid replacements and have no
security to fall back on.
"Former Federal Reserve Chairman Alan
Greenspan said on Tuesday the U.S. economy
was in recession, and said it would be appropriate
to tap public funds to resolve the mortgage-related
crisis that has helped pull the economy under
Greenspan went farther than the Fed has by saying
outright that the economy is in a recession, although
he said it is too soon to say how deep or prolonged
the downturn will be.
"Consumers are beginning to shrink in, the
automobile markets are beginning to contract,
production is beginning to ease, and we are in
the throes of recession," he said.
"I think if you're going to deal with a situation like this
it's an issue for appropriated funds of the Treasury to
set up something like the Resolution Trust Corporation,
which as you remember was very successful in resolving
the S&L crisis," Greenspan said.
The RTC was set up to liquidate assets of troubled
savings and loan associations that had been declared
insolvent by the Office of Thrift Supervision. It operated
between 1989 and 1995 and closed or helped resolve
hundreds of thrifts, many of which had gotten into trouble
through sloppy lending practices."
There is however an opportunity for growth that is ready
to explode where long term residual income can be secured.
The time is ripe for the Internet business entrepreneur. MLM
as it has been known more for its pyramid schemes of that
past, is quickly becoming a legitimate home based business
opportunity. One example is the book published by Donald
Trump and Robert Kiyaski "Why We Recommend Network
Marketing" which advises the vast opportunity that is out there,
if you find the right Internet Business. One such group making
great strides in securing incredible residual income is the
"IGB" ItsGoodBusiness Group. Focusing on the investing
in purchasing already paying customers instead of spending
dollars on dead end leads and over saturating their opportunity
marketing to other marketers as was the norm, is sending
savvy entrepreneurs right to IGB's doorstep.
Marketing Strategy Specialist