Have you read Docket # 3066 & 3067 for the Plan Of Liquidation and find out who retained the use (rights) of the carry over??
"I just don't understand why so many lib lawyers can't remember it."
It is called selective memory!
That is not quite how it works. I can use the recent offer by Alcatel-Lucent to 45,000 management and an unknown amount of union represented pension plan participants. The offer either was to except a lump sum exchange for their defined benefit annuity (paid monthly till death) either with or without survivor benefit.
The IRS supplies/forces the actuarial mortality table (last updated in early 2014) to the pension plan trustee. That table is used to determine life expectancy for the pensioner and spouse if applicable. The IRS also supplies/forces the plans trustees with interest brackets to calculate what is called a single life annuity. The brackets are this rate for 0-2 years, 2-6 years, 6-10 years, 10-20 years, over 20 years. Those calculations become the accumulated value of the single life annuity and are the offer amount.
This is not negotiable or changeable and is the same for any US asset based pension plan.
I thought you meant 'recharged with a crime'. The lack of corporate transparency first surrounding GRH preferred and now MHRs is unethical and amateur/high school type behavior!
And somehow the MORON thinks this is a bad thing. In the simplest definition: In a normal market, futures price would be greater than the spot price due to the effect of cost of carry. This is called a normal market and in recent years 'CONTANGO'. This moron is trying to mis-apply a definition from the futures market to equities.
Why 'mis-apply'? 1) excepting for opportunity cost, possible forgone interest (big deal with rates at tenths of a percent) and margin costs for those using it__equities do not have a cost of carry. 2) He/she defines it as a downward future slope__when it is exactly the opposite. He/she purports 'contango' is a bad thing (only for those rolling contracts forward) or (those stupid enough to through coin at ETPs; such as "TBT").
Definition of 'Backwardation': Backwardation, is the market condition wherein the price of a forward or futures contract is trading below the expected spot price at contract maturity. The resulting futures or forward curve would typically be downward sloping (i.e. "inverted"), since contracts for further dates would typically trade at even lower prices.
In actuality it is an academic argument whether a forward sloping or downward sloping is the "Normal" market. That is because the median average differs between different commodities and financial futures contracts.
It is argued that backwardation is abnormal, and suggests supply insufficiencies in the corresponding (physical) spot market. However, many commodities markets are frequently in backwardation, especially when the seasonal aspect is taken into consideration (perishable and/or soft commodities).
However, economist John Maynard Keynes argued that in commodity markets, backwardation is not an abnormal market situation, but rather arises naturally as "normal backwardation" from the fact that producers of commodities are more prone to hedge their price risk than consumers.
For sure Chumps is what is 'ABNORMAL'
People should research before they post.
Federal Reserve Board rate changes in DEC (since 1972):
2008, 2007, 2005, 2004, 2001, 1995, 1991 (two separate times), 1990, 1989, 1988, 1986, 1985, 1984 (two separate times), 1982, 1981, 1980 (two separate times), 1979, 1978, 1976, 1974 (two separate times), 1972
That is 25 changes in December. How many were increases versus decreases is irrelevant__the importance is the FED is ‘not’ immune from DEC changes.
The most consistent trend from mid NOV thru FEB are adjustments to reserves; and ‘Central Bank’ and IMF purchase/sale of currencies’. These entities adjust their balance sheet(s) for their ‘fiscal year’ closings. This consistent seasonality creates increased volatility providing an opportunity using FOREX spreads to capture coin. The seasonality is more opportune than the grain trade at harvest season(s).
You have to be the dumbest person on the planet!
"toward future continuing lower prices"
I will repeat this:
That is exactly the opposite of forwardation (contango). It is when a future price of the underlying commodity/financial instrument would be more than the expected spot (or immediate delivery) price.
Why don't try spending your time reading financial books; instead of wasting searching the internet for terms like convexity or contango and then posting about things you clearly do not understand! What you are describing is called “BACKWARDATION”
In the 80(s); the traders of the financial markets had their scope set on watching ‘free reserves’ vs. ‘total reserves’ as a forward indicator to ‘Money Supply’ (M1,2,3) numbers. The trade would be on their estimate/questimate of the next FED announcement for the ‘Discount Rate’ (a much more influential parameter than the FED Funds). This trend would also revolve around the Deutsche Bundesbank announcements.
I agree with ‘Mohamed A. El-Erian’ statement__the ? is why we are obsessing about 25 basis points. Even that amount will give regional banking institutions a needed leg up__if it will translate across the ‘duration curve’.
The prior FED chairman(s) FOMC and BOG meetings strived to present an increased transparency. This objective was either stated or presumed to be continued. As this has unfolded the term ‘data dependent’ has become more and more defined. This has fostered the idea that numbers are available to crunch__that indicate the direction the BOG will decide.
As of Noon CET the ‘FED Funds Futures’ indicated a 32% probability of an increase. Yet at close 2pm the 10 Yr (cash contract) was +0.96%
Since I proposed this ? on an MReit board__ur response would be relevant.
What 'Bill" is this__a search on Corker(s) site posted 4 sponsored legislations:
S525: Food for Peace Reform Act of 2015
S553: End Modern Slavery Initiative Act of 2015 (that is an interesting title)
These next two are co-sponsored:
S1: Keystone XL Pipeline Approval Act (this appears to be dead-done)
S145: National Park Access Act
This posting just further demonstrates ur lack of ‘fundamental market knowledge’ and therefore ‘analysis’. I would direct u to “Getting Started In Forex Trading Strategies” Wiley publishers: ISBN: 978-0-470-07392-6.
You obviously need to start at the primer level. Our students must have read/consumed this material before joining our ‘Currency trading class curriculum’. They have to pass a ‘entry qualification test’!!!
In ur posting u are analyzing/looking at only one side of trade. You are not completing the ‘Cause and Effect’ equation. This is what non-schooled amateur(s) consistently do that leave professionals the edge to eat their trades and pocket coin.
The other side of the equation is what happens to those returning/liquidated dollars? The impact on the U.S. Treasury market depends on what new recipients choose to do with their dollars.
We only have to look back at what Japan as a nation did__after their ‘bubble burst’ and subsequent prolonged economic contraction. What was the ‘net affect’ of that nations selloff in ‘US Treasury’securities??
U could learn this by taking our classes__but then U might find the team leader for curriculum development__being a quest deliverer.
"those who live in disillusion will drown"
U should have typed 'delusional'__because delusion is what U are drowning in!
" he even charges the company for the furniture in the office"
You just displayed ur 'FASAB' and 'GAAP' accounting naivety.
For ur edification___fedral accounting standards advisory board (FASAB): generally accepted accounting principles (GAAP).
U might consider an introductory Financial Accounting course via ur community college. They might even offer a reduced rate 4 'MORONS'.