GLG News by Sub-Prime Lending Experts

Duncan MacDonaldConsultantDuncan McDonald

Catch-22 on debit card interchange fee issue

January 4, 2011

Analysis of:At Banks, New Fees Replacing Old Levies | online.wsj.com

The article describes what bankcard issuers are thinking of imposing to offset the possible revenue losses from the proposed FRB regs to drastically limit debit interchange fees. Experts have claimed that debit fees could be reduced anywhere from 70-90% under the FRB regs, which implement the Durbin amendment to the Dodd-Frank bank reform legislation of 2010.

Mark MariottiChief Executive OfficerFuture Management Holdings Inc

DOT-COM Bubble Confrmed

January 3, 2011

As we begin the second decade of the second millennia - we face (pardon the pun) the pumping-up of the second dot-com bubble.

Duncan MacDonaldConsultantDuncan McDonald

Will the FRB sink AmExp on debit interchange?

December 20, 2010

Analysis of:AmEx Slide Weighs on Dow | online.wsj.com

The WSJ article notes that AmExp pulled the market down (12/20/10) because of investor fears that the company is "more exposed" to lose debit card interchange fees than its competitors because of the recent FRB proposed regs implementing the Durbin amendment. The feds regs could slash the fees by up to 90%. Analysts had expected a less draconian position, despite the language in Durbin that is unquestionably hostile to the bankcard industry. AmExp's debit fees rank among the highest.

Duncan MacDonaldConsultantDuncan McDonald

Debit card fee lose first round

December 16, 2010

Analysis of:Visa, MasterCard Plunge as Fed Issues Rules to Cut Debit Fees | www.bloomberg.com

According to Bloomberg, the FRB has issued a proposed regulation that will reduce debit card interchange fees by as much as 75-90%. As an FRB Governor said at its hearing this afternoon, the fed is only doing what Congress ordered in the Durbin Amendment of the new Dodd-Frank bank reform law. The effect will be vastly reduced issuer revenues, award programs and perhaps debit transactions. The FRB will now ponder industry comments and finalize a rule by mid-April.

Nicholas KrsnichPresident & Portfolio ManagerJMN Financial LLC

GSE Reform - The Future of Mortgage Finance

November 30, 2010

GSE reform might be better described as the development of a new United States Mortgage Funding System (USMFS). In this article a mortgage origination and sales process is suggested derived from business and structural elements of Government Sponsored Entities (GSEs), Federal Home Loan Banks, banking, banking regulation, and mortgage securitization.

Duncan MacDonaldConsultantDuncan McDonald

Abusive practices risk under Dodd-Frank: Multiple targets

November 23, 2010

Analysis of:New Abusive Standard in Dodd-Frank Has Bankers Nervous - American Banker Article | www.americanbanker.com

Per the American Banker article, banks are worried that the new consumer protection bureau (CFPB) will nix credit products for being "abusive" to consumers. They fear the Bureau will go too far in its interpretation -- that it will be the abuser. Unrecognized is a 3rd potential abuser in the shadows: the new Congress. It is under a voter mandate to cut government regs and costs. Which of the three will inflict abuse in 2011?

Joseph SmithPresident and CEODefault Mitigation Management

QE II Leads the way to currency issues!

November 16, 2010

Analysis of:Intermission on the Stage of World Finance | seekingalpha.com

The dollar was already under fire, with QE II there is a big target on the dollar, certainly not worth the minimal impact to deflation.

Mark MariottiChief Executive OfficerFuture Management Holdings Inc

Boomer'ing Real Estate

November 14, 2010

Analysis of:Baby Boomers and Real Estate | blogcritics.org

Ten percent of baby boomers plan to buy real estate over the course of the next year. Two-thirds of those will buy a new home, a second home, or commercial property.

Mark MariottiChief Executive OfficerFuture Management Holdings Inc

Economy Stimulation Plan - Social Security Pay for Performance

November 11, 2010

Analysis of:Fiscal Commission Co-Chairs Simpson And Bowles Release Eye-Popping Recommendations | tpmdc.talkingpointsmemo.com

Alan and I have worked on several Veteran committees in the past, and Wyoming is a favorite of my family.Also knowing that he has a GREAT sense of humor, I respectfully request that he immediately QUIT THE GOVERNMENT SERVICE & RETIRE.

Mark MariottiChief Executive OfficerFuture Management Holdings Inc

The Federal Reserve's QE2

November 10, 2010

The Federal Reserve, in an effort to inject life into a sluggish economic recovery, said it will buy $600 billion of U.S. government bonds over the next eight months to help drive down interest rates and encourage more borrowing and growth.

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