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IDS World Markets Wed 2nd March 05


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not sure if this has been posted, currently on Crapvision:

West Palm hedge firm closes, leaving clients wondering

 

The telephones could be heard ringing and ringing Monday from outside the offices of KL Financial Services, but there was no one there to answer.

 

KL Financial, a hedge fund manager that catered to wealthy investors and held as much as $300 million of clients' money, unexpectedly closed after visits from investigators with the Securities and Exchange Commission and FBI on Friday and Monday, according to sources familiar with the investment firm.

 

One customer who had money invested with the company for two years said KL Financial reported annual investment returns of 67 percent and 40 percent the last two years.

 

wow, must have been a rough 2005 :lol: :lol:

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Mar 2 10:01 *GREENSPAN SAYS ECONOMY GROWING AT REASONABLE RATE

Mar 2 10:00 *GREENSPAN CALLS FOR 'MAJOR' DEFICIT-REDUCTION

Mar 2 10:00 *GREENSPAN: SOCIAL SECURITY CHANGES SHOULD COME SOON

Mar 2 10:00 *GREENSPAN REPEATS SUPPORT FOR PRIVATE SAVINGS ACCOUNTS

Mar 2 10:00 *GREENSPAN: MEDICARE MORE A PROBLEM THAN...

post-1431-1109775771_thumb.jpg

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Greenspan espies rock, hard place:

 

"I feel that we may have already committed more physical resources to the baby-boom generation in its retirement years than our economy has the capacity to deliver,'' Greenspan said in the text of prepared remarks to the House Budget Committee.

 

"The government's own imbalances will require scrutiny of both spending and taxes,'' he said. "However, tax increases of sufficient dimension to deal with our looming fiscal problems, arguably pose significant risk to economy growth and the revenue base.''

 

Empty Cupboard for Baby Bubblers

 

Translation: "I'm retiring. I got mine. And you poor suckers are screwed."

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Mar 2 10:01 *GREENSPAN SAYS ECONOMY GROWING AT REASONABLE RATE

Mar 2 10:00 *GREENSPAN CALLS FOR 'MAJOR' DEFICIT-REDUCTION

Mar 2 10:00 *GREENSPAN: SOCIAL SECURITY CHANGES SHOULD COME SOON

Mar 2 10:00 *GREENSPAN REPEATS SUPPORT FOR PRIVATE SAVINGS ACCOUNTS

Mar 2 10:00 *GREENSPAN: MEDICARE MORE A PROBLEM THAN...

if medicare's worse why should we deal with SS soon? or are they going to do both, deal with the AMT, achieve "major deficit reduction" and not raise taxes (another AG headline today) all at the same time? yeah, great plan.

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Mar 2 10:01 *GREENSPAN SAYS ECONOMY GROWING AT REASONABLE RATE

Mar 2 10:00 *GREENSPAN CALLS FOR 'MAJOR' DEFICIT-REDUCTION

Mar 2 10:00 *GREENSPAN: SOCIAL SECURITY CHANGES SHOULD COME SOON

Mar 2 10:00 *GREENSPAN REPEATS SUPPORT FOR PRIVATE SAVINGS ACCOUNTS

Mar 2 10:00 *GREENSPAN: MEDICARE MORE A PROBLEM THAN...

 

What are the chances for the acceptance of private savings accounts if the SM is heading south? Notalot methinks...ergo gottagoup. :rolleyes:

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