Road Map To A Healthy Stock Market

Written by Charles Payne


At this point everyone has weighed in with theories on how to turnrepparttar stock market around. Even president Bush has come through with his three reasonsrepparttar 112762 market is in reverse. As I’ve said before his insistence thatrepparttar 112763 market is down in part torepparttar 112764 treat of terrorism is a big mistake. It actually givesrepparttar 112765 Osamas ofrepparttar 112766 world more power andrepparttar 112767 ability to achieve their goals without implementing actual transgressions.

I'm going to outline a series of events listed in order that they have to occur that may have to happen beforerepparttar 112768 market can sustain a rally. They are trust, accountability, economy, new thinking and earnings.

Trust: A Matter of Mea Culpa, Hara-kiri, and Open Kimonos

Mea Culpa

I thinkrepparttar 112769 biggest problem withrepparttar 112770 misdeeds of corporate titans that have been caught inrepparttar 112771 cookie jar is that none have come clean. It would be very refreshing if one would step forward and say he/she just let it get out of hand. However,repparttar 112772 mea culpa isn’t justrepparttar 112773 necessary from those facing criminal conviction. To a certain degree we all played a role inrepparttar 112774 market’s demise. The individual investor will have to come to grips withrepparttar 112775 fact they threw caution, common sense and discipline torepparttar 112776 wind. Most investors are blaming their brokers, but atrepparttar 112777 end ofrepparttar 112778 day free will plays a role.

Then I’d loverepparttar 112779 media to admit they played a role. CNBC in particular has spentrepparttar 112780 last year and half acting like they weren’t part ofrepparttar 112781 hype. They don’t want to admit they wererepparttar 112782 carnival barker, not just reporting onrepparttar 112783 events insiderepparttar 112784 tent.

Next there arerepparttar 112785 brokerage firms themselves that already were working in a Catch-22, as they had to answer to two masters;repparttar 112786 individual client andrepparttar 112787 corporate client. Now they had to fend offrepparttar 112788 threat ofrepparttar 112789 Internet, which became a Borg-like creature that changedrepparttar 112790 rules of Wall Street. In effect, it becamerepparttar 112791 great California Gold Rush.

It isn’t about getting preachy, but we all say we messed up, I think we’ll all be back on track mentally. The dream of quick riches has been wiped out, butrepparttar 112792 dream of making money inrepparttar 112793 stock market is still intact.

Hara-kiri

In addition to coming clean some folks are going to have to go an extra step. I would say that not all ofrepparttar 112794 CEOs that have failed shareholders did so with selfish greed and malicious intent.

The bottom line is that they probably have to be replaced. Not because they can’t learn from their mistakes, but becauserepparttar 112795 underlying share prices will never recover, as question marks and doubt will always haunt them.

This brings up another dilemma,repparttar 112796 thin talent pool. Asrepparttar 112797 public rightfully screams forrepparttar 112798 beheading of CEOs and dismantling of too friendly boards few are considering their replacements. If you think baseball has been yielding too many homers in part to a thin talent pool, just imagine trying to field a thousand of so publicly traded companies? Developing a big-time CEO is harder than finding a person that can pitch a 100-miles an hour, plus steroids really don’t do much forrepparttar 112799 decision-making process of a corporate executive.

Open Kimonos

Obviously transparency is necessary going forward. Still this can be yet another tricky situation. From a broad perspectiverepparttar 112800 greaterrepparttar 112801 transparency of corporate Americarepparttar 112802 betterrepparttar 112803 quality of all things associated withrepparttar 112804 economic system. Not justrepparttar 112805 honesty of reporting but also ofrepparttar 112806 end products. Consumers have been demanding such quality for a long time and they have been answered. Now shareholders will demandrepparttar 112807 same transparency that a car buyer wants to avoid buying lemons.

Selecting a Good Credit or Budget Counselor

Written by Paula Langguth Ryan


Selecting a GOOD Credit or Budget Counselor!

Most of what credit counselors do you can do for yourself. But, if you’re too emotionally involved with your money situation to create and stick with a plan and negotiate with your creditors then using a credit counselor may be a good option for you!

Credit or budget counselors, including those who are listed as being withrepparttar Consumer Credit Counseling Service (CCCS) orrepparttar 112761 Genus/National Credit Counseling Service (NCCS) are non-profit organizations that offer free budget counseling and (for a small fee which is often rolled into your monthly payments), debt repayment plans.

With a credit or budget counselor, you set up a workable budget and send one lump sum payment torepparttar 112762 credit counseling service so they can dividerepparttar 112763 money up among your creditors. Your budget may seem tight at first, but you will find that you could be completely debt free within 3 years if you stick torepparttar 112764 repayment plan!

Most credit and budget counselors work with your creditors to get them to accept smaller payments from you, and attempt to freeze or lower interest rates and late payment or over-the-limit fees. In addition, once you’ve entered into a repayment plan withrepparttar 112765 counselor,repparttar 112766 harassing phone calls from creditors will stop. Even if you choose to set up your own repayment plan, instead of going throughrepparttar 112767 credit counselor, you can get free budget assistance from them!

If you do decide to usrepparttar 112768 credit counselor’s debt repayment program, be sure to ask these questions before you sign up:

1. Which of my creditors have worked with you inrepparttar 112769 past to reduce payments, or freeze or lower interest and fees? Before you sign up for a repayment plan, make sure thatrepparttar 112770 counseling service can help you reduce interest and fees for your creditors. Not all creditors are willing to negotiate with credit counselors. If most or all of your creditors are willing to negotiate, then it may be in your best interest to start a repayment plan. If most of your creditors won’t work withrepparttar 112771 credit counselor, then a repayment plan won’t work for you. To be onrepparttar 112772 safe side, askrepparttar 112773 credit counselor for a list ofrepparttar 112774 creditors that have worked with them or have them put in writing which of your creditors they have successfully negotiated with inrepparttar 112775 past.

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