The Comprehensive Employment and Training Act (or CETA, Pub.L. 93-203) is a United States federal law enacted in 1973 to train workers and provide them with jobs in the public service.
The program offered work to those with low incomes and the long term unemployed as well as summer jobs to low income high school students. Full time jobs were provided for a period of 12 to 24 months in public agencies or private not for profit organizations. The intent was to impart a marketable skill that would allow participants to move to an unsubsidized job. It was an extension of the Works Progress Administration program from the 1930s. The Act was intended to decentralize control of federally controlled job training programs, giving more power to the individual state governments. Nine years later, it was replaced by the Job Training Partnership Act.
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many continued as employers kept candidates
energy prices have investment banks, hedge funds, and trading firms doing a lot of hedge trades to manage risk through the ICE. wikinvest
over-the- counter contracts are privately negotiated. Think CDS can be multiple parties contracts & each pays ( CONTRACTS + X ORIGINATORS + Y ADDITIONALS = GROSS RECIEPTS * # OF CONTACTS OUTSTANDING = $650 TRILLION)
Now if the leader ICE can capture .0001% of the mkt.
.The company earns the majority of its consolidated revenues from commission fees on over the couner trades. ICE also earns a substantial amount of revenue from market data. The company charges exchange fees (terminal fees and license fees) for real-time price information. together these are known as exchange fees.
7/28/2010 8:30:00 AMLONDON, July 28, 2010 /PRNewswire via COMTEX
ICE... ICE Clear Europe began clearing European CDS indexes (iTraxx) on 27 July 2009, and added clearing for single-name CDS in December 2009. Through 23 July 2010, ICE Clear Europe cleared euro 3 trillion ($4.1 trillion) in gross notional value on more than 130,000 transactions, covering 26 CDS indexes and 101 single-name reference entities. Open interest for European instruments currently stands at euro 397 billion. "With euro 3 trillion cleared in its first year of operations, ICE's launch of CDS clearing in Europe is a significant first step toward the mitigation of systemic and counterparty risk," said Paul Swann, President and COO of ICE Clear Europe. "As we prepare for the launch of clearing services for sovereign CDS and the extension of clearing to buy-side customers in the months ahead, we look forward to increasing levels of stability and transparency in the credit derivatives markets." ICE Clear Europe began operations in November 2008 as London's first major derivatives clearing house in over a century, and initially cleared ICE's futures and OTC energy markets. ICE Clear Europe then established a separate risk pool for clearing CDS instruments, including segregated guaranty fund and margin accounts, as well as a dedicated risk management system and governance structure. ICE Clear Europe launched with 10 CDS clearing members and today has 14.
don't forget the other futures exchanges and over-the-counter markets:
equity index contracts...
EU hosts trade in half of the world's crude and refined oil futures...
Russell Index markets
five regulated clearing houses across North America and Europe.
Take just 1% of 4 trillion =
$4,000,000,000,000 x .01 =
$40,000,000,000 = fees possible low ball est.
$40 billion lets say ice just gets 1%
$400,000,000 possible fees per anumum
but the Tea Part will call it socialist, marxist, communist, fascist, maoist, secret muslim plot, job creation scheme and the end of Amerika.
So as a politician trying to get re-elected in November, I say "let them eat cake".
this act was established to give useless jobs to homeless
call it another tax on the businessman.
just a source of welfare votes similar to "immigration reform"
those getting public assistance should not be allowed to vote.
this would put a stop to these unconstitutional government policies!
stop and think all those people on x-tened benfits were is the frills on the grills? Bake the money put some honey on it and make humble work like a bumble bee see wee! Wise as a ant they will bees will not cant or rant but pant.
In other words man can the tan and fan work with some torque not tonque forked.