New York-headquartered Nonprofit Finance Fund has been awarded $21 million in a New Markets Tax Credit allocation (NMTC) to support community development projects in low-income areas throughout the U.S. NFF will use its allocation to provide financing to help small and mid-sized nonprofit organizations better serve their communities.
Read More...The CtW Investment Group sent a letter yesterday calling on Bank of America board Chairman Charles Holliday to stop the discredited practice of providing payouts to senior executives to shield them from potential losses in the sale of their homes. Citing the mounting investor and public backlash over BofA’s mortgage and foreclosure practices, CtW urged the board to recognize that such payments “insulate a narrow set of executives from the economic facts of life even while Bank of America’s own customers struggle to pay their mortgages as a result of the housing market collapse and broader financial crisis.” CtW urged the board to head off BofA management’s misguided attempt to use the SEC to disenfranchise shareholders and block a shareholder proposal on the topic.
Read More...The National Inflation Association released the following statement in response to President Barack Obama’s comments regarding the yuan and the U.S. dollar. These views do not necessarily reflect ours, and it will be interesting to see if there is a response from the Obama Administration.
Read More...Why will hedge funds be playing the commodities market in 2011? The reason is the answer to the question, “What is the best asset allocation for the next decade?”
Jimmy Rogers would love this next sentence: investors are moving out of paper assets into hard ones at the same time that world population is growing and [...]
Here are the Goldman Sachs predictions for the expected U.S. economic growth, corporate profits, inflation, interest rates and stock market performance in 2011:
** 2011 GDP up 3.4%
** 2011 Global GDP up 4.7%
** Year-end S&P 500 price target at 1,450 (a gain of about 15% to perhaps 20%)
** 2011 S&P 500 [...]
The Federal Reserve wants there to be more deflation. Meanwhile the prices for daily goods that you and I would call “cost of living,” rises. Interest rates have been rising too, all of which are the opposite of the Fed’s intentions.
The following chart of food stamp participation makes me wonder whether QE2, if it increases [...]
Goldman Sachs has recently updated its forecast for the US economy in a big way: UP. The reasons? Here they are, with our comments:
1. Auto sales have increased dramatically of late, showing consumers are ready to spend again (cars are a necessity, and they finally have to bite thebullet and buy while the interest rates [...]
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