MacroFinder.com

The high yield investments as you might know, have been used by some people interested in making money online through joining programs that have also been named as hyips and regardless of the mechanisms and formulas used in such programs and online plans, it might be essential paying attention to some points and guidelines which can greatly help you having better chancing of earning cash online and also the ones that would diminish the money losing chances.

The first thing you might be asking in this regard is whether or not the hyips can be trusted anyway and this question can be looked upon from many different perspectives and viewpoints. For instance, although the hyip programs and plans can be risky, but if you take a look at the online records of such programs since their launching some years ago, you will figure out that many people have managed to earn income through joining them but you need be aware of some facts and rules in order to succeed once you consider joining the high yield investments.

Please note that when you enter the hyip world with knowledge, experience, insight and awareness of some minute details, all of these factors and elements would combine with each other and then help you through some ways leading to the money making websites and staying away from the cash losing ventures and resources. For example, if you have just launched your web browser and come across a newly launched hyip website, the one that you have limited or no knowledge about, this is never recommended joining that program with some higher amounts of capital and investment.

In other words, sometimes not knowing about the background and details of the high yield investments might lead to cash losing very quickly and this might be the mistake many people make when they decide generating money quickly by taking part in some online plans. It has been heard from some years ago among webmasters and the folks joining the hyips that trusting several programs instead of focusing over a single package is always recommended and up to this moment, all of the experiences people report after joining the high yield investments have proved this matter and you too are highly recommended following this approach and method.

First of all, make some calculations about your future investment projects when you find some hyip websites and consider joining them, and then make separate investments into each of the packages offered using various amounts of cash and then wait for the results. Please note that this way, even if one or some of the hyips you have taken part in fail, you might still be member of the other profitable high yield investments and this could help you compensating for the possible cash losses.

The other matter which is of great importance while joining the hyip programs and listings is taking a look at the actual interest rates promised and the backgrounds and previous records of the websites you like to join because by taking a quick look around the web, at money discussion boards as well as the hyip rating websites, you can easily become aware of the ideas other people have about the specific website and program you are going to take part in.

For example, if the hyip you think as the favorite money making portal online has been voted negatively by many people on the web portals and sites and everybody is telling about the company not paying them for some time, well joining this program would be completely equal to losing all of your cash overnight and this is definitely not the idea in your mind when you think of investing into the hyips.

If you try to be an active internet user, you can also increase your chances of winning in the high yield investments considerably because this way, you would probably be reading a lot of points about the hyips everyday and posted online by article writers and the webmasters who have extensive experiences about all of the plans introduced across the net used by people for generating wealth and other relevant points.

After joining a few of the hyip programs and investing with some smaller amounts, you will gradually gain experience and will step by step become closer to the point where you would be a professional person having a lot of information when it comes to joining the high yield investments and this can be great actually. If you are determined to make money online, try to remain calm and patient and never think about yourself as the person who knows everything about the hyips and the rest of the money making procedures.

www.hyipcorner.com

In the early and mid-1980s, the major difference between MTNs and corporate bonds was in their primary method of distribution: Typically, agents placed MTNs in relatively small amounts continuously or intermittently, while underwriters placed large, discrete amounts of corporate bonds. This strict classification no longer applies, however. A growing number of MTN offerings have the characteristics of traditional corporate bonds, and regional dealers now sell a significant percentage of MTNs. Thus, as the MTN market has matured, it has become harder to define the securities and to describe their mode of distribution.

Principal Transactions
One important change in the distribution process is that a larger share of MTNs are now sold on a principal basis, rather than on an agented basis. In a principal transaction, the MTN dealer purchases an MTN for its own account and later resells it to investors. In a “riskless principal” transaction, when the dealer buys the MTN, it has already lined up an investor that has agreed to the terms of the resale. Riskless principal transactions often involve structured MTNs. In other principal transactions, dealers underwrite MTNs when they have not lined up investors but expect to do so easily and quickly.

Large, Discrete Offerings
Corporations now more often sell MTNs that are nearly indistinguishable from corporate bond offerings. These MTN offerings typically have large face amounts of $100 million or more, the typical size of corporate bond offerings. They are sold on an underwritten basis, and they often have relatively long maturities of ten or thirty years. Furthermore, announcements of such offerings appear along with announcements of corporate bond offerings in financial publications.

Despite the similarities to corporate bonds, these large, discrete, underwritten securities technically are MTNs because they are issued from MTN shelf registrations. To most investors, this technical difference is largely irrelevant because the securities have the essential features of corporate bonds. As a result, the securities reportedly do not command a yield premium relative to the yield on corporate bonds.

As large, discrete offerings of MTNs have become more common, the distinction between MTNs and corporate bonds has blurred. As a result, the arguments for financing with MTNs have become more compelling. By setting up an MTN program, a corporation does not give up the advantages of issuing large, underwritten securities that typically would be accomplished with a corporate bond offering. However, unlike a shelf registration for corporate bonds, an MTN program gives the corporation the flexibility to issue in small amounts continuously and to participate more actively in structured transactions.

Distribution through Regional Dealers
Through the mid-1980s, the major New York investment banks distributed nearly all MTNs to investors. As the market has matured, regional dealers have placed an increasing volume of MTNs. According to market estimates, placements through regional dealers now account for 5 to 15 percent of MTN issuance volume. In these placements, regional dealers receive information about issuers’ offering rate schedules from MTN agents. In turn, the regional dealers communicate this information to their investor clients. When an investor buys an MTN through a regional dealer, the regional dealer receives a selling concession from the MTN agent. Placements through regional dealers improve efficiency in the market by broadening the investor base for MTNs.

Many regional dealers have contacts with smaller institutional investors, such as small banks, municipalities, and individuals with high net worth, that represent a relatively stable source of funding.

Euro-MTNs
MTNs have become a major source of financing in international financial markets, particularly in the Euro-market. Like Euro-bonds, Euro-MTNs are not subject to national regulations, such as registration requirements. Although Euro-MTNs and Euro-bonds can be sold throughout the world, the major underwriters and dealers are located in London, where most offerings are distributed.

Although the first Euro-MTN program was established in 1986, the market represented a minor source of financing throughout the 1980s. In the 1990s, the Euro-MTN market grew at a phenomenal rate, with outstandings increasing into the hundreds of billions. New borrowers account for most of this growth, as a majority of the 190 entities that have established Euro-MTN programs did so in the late 1990s. As in the U.S. market, flexibility is the driving force behind the rapid growth of the Euro-MTN market. Under a single documentation framework, an issuer with a EuroMTN program has great flexibility in the size, currency denomination, and structure of offerings.

Furthermore, reverse inquiry gives issuers of Euro-MTNs the opportunity to reduce funding costs by responding to investor preferences.
The characteristics of Euro-MTNs are similar, but not identical, to MTNs issued in the U.S. market. In both markets, most MTNs are issued with investment-grade credit ratings, but the ratings on Euro-MTNs tend to be higher. In 1999, for example, 68 percent of Euro-MTNs had Aaa or Aa ratings, compared with 13 percent of U.S. corporate MTNs. In both markets, most offerings have maturities of one to five years. However, offerings with maturities longer than ten years account for a smaller percentage of the Euromarket than of the U.S. market. In both markets, dealers have committed to provide liquidity in the secondary market, but by most accounts the Euro-market is less liquid.

In many ways, the Euro-MTN market is more diverse than the U.S. market. For example, the range of currency denominations of Euro-MTNs is broader, as would be expected. The Euro-market also accommodates a broader cross-section of borrowers, both in terms of the country of origin and the type of borrower, which includes sovereign countries, supranational institutions, financial institutions, and industrial companies. Similarly, Euro-MTNs have a more diverse investor base, but the market is not as deep as the U.S. market.
In several respects, the evolution of the Euro-MTN market has paralleled that of the U.S. market. Two of the more important developments have been the growth of structured Euro-MTNs and the emergence of large, discrete offerings.
Structured transactions represent 50 percent to 60 percent of EURO-MTN issues, compared with 20 percent to 30 percent in the U.S. market. In the Euro-MTN market, many of the structured transactions involve a currency swap in which the borrower issues an MTN that pays interest and principal in one currency and simultaneously agrees to a swap contract that transforms required cash flows to another currency. Most structured Euro-MTNs arise from investor demand for debt instruments that are otherwise unavailable in the public markets. To be able to respond to investor driven structured transactions, issuers typically build flexibility into their Euro-MTN programs. Most programs allow for issuance of MTNs with unusual interest payments in a broad spectrum of currencies and with a variety of options.

Large, discrete offerings of Euro-MTNs first appeared in 1991. They are similar to Euro-bonds in that they are underwritten and are often syndicated using the fixed-price reoffering method. As a result of this development, the distinction between Eurobonds and Euro-MTNs has blurred, just as the distinctions between corporate bonds and MTNs has blurred in the U.S. market.
The easing of regulatory restrictions by foreign central banks has played an important role in the growth of the Euro-MTN market. For example, over the past decade, MTNs denominated in deutsche marks have emerged as a major sector in the Euro-market as a result of regulatory changes made by the Bundesbank in August 1992. Under the previous rules, foreign borrowers could only issue debt denominated in deutsche marks through German subsidiaries or other German financial firms, and maturities could not be shorter than two years. Debt denominated in deutsche marks also had to be listed on a German exchange, and these offerings were subject to German law, clearing, and payment procedures. These rules effectively precluded issuers from establishing multicurrency Euro-MTN programs with a deutsche mark option.

In the August 1992 deregulation, the Bundesbank removed the minimum maturity requirement on debt denominated in deutsche marks issued by foreign nonbanks, and it eliminated or simplified issuance procedures for all issuers. Although the new rules require that a “German bank” act as an arranger or dealer, the definition is broad enough to include German branches and subsidiaries of foreign banks. The arranger is required to notify the Bundesbank monthly of the volume and frequency of issues denominated in deutsche marks. Other central banks have instituted similar liberalizations that may result in rapid growth of MTNs denominated in other currencies, such as the Swiss franc and the French franc.

Outlook For The MTN Market
Few innovations in finance have been as successful as the medium-term note. Its success derives from its remarkable adaptability to the needs of both borrowers and investors. The success can be measured by the number of borrowers, the diversity of note structures, and the amount of outstanding MTNs, all of which have increased dramatically over the past decade.

The adoption of SEC Rule 415 in 1982 was the key event that removed the regulatory impediments to continuous offerings of corporate notes. Other regulatory changes, such as SEC Rule 144A and liberalizations by European central banks, have been instrumental in the development of new sectors in the MTN market. As a result of these regulatory changes, financial markets have become more efficient. In 1992, the SEC eased restrictions on the types of securities eligible for shelf registration. As a result of this ruling, asset-backed MTNs emerge as the next major growth sector in the public MTN market.

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Since 1988, the costs of clearing and settlement of MTNs have decreased substantially as a computer-based system of book-entry recordkeeping has supplanted physical certificates. When an MTN is issued under the book-entry system, an agent bank for the issuer uses a computer link with The Depository Trust Company (DTC) to enter the descriptive information and settlement details of the transaction. The sales agent receives a copy of the computer record from DTC, and the investor receives a trade confirmation from the sales agent and periodic ownership statements from the custodian bank, in lieu of physical certificates. Secondary market trades are likewise recorded with computer entries. Under the book-entry system, an issuer makes one wire transfer to DTC that covers all interest payments on each interest payment date. This payment process contrasts with the process for physical certificates in which issuers make separate payments to each investor.

Similarly, under the book-entry system, when the MTN matures, the issuer makes only one funds transfer to DTC. In the late 90’s, the DTC book-entry process costs $4 for each issuance, and each participant in a transaction pays between $1.29 and $1.54 for subsequent deliveries in the primary and secondary markets. Besides reducing the direct cost of issuance, the book-entry system also lowers the likelihood of delayed delivery because of logistical problems and reduces the chances of failed trades arising from paperwork errors. Book entry has become the preferred method of clearing and settlement in the MTN market. According to DTC, issuance of book-entry MTNs rose from $600 million in 1988 to over $1 trillion.

In the 1980s, SEC disclosure requirements associated with public offerings discouraged foreign corporations from issuing MTNs in the U.S. public market. For foreign corporations, the most burdensome requirement is that financial statements conform to U.S. generally accepted accounting principles. Most foreign issuers would have to incur considerable legal and accounting expenses to meet this requirement, and many would have to disclose more information about their operations than is required in their home markets. The expense of registering securities and satisfying ongoing reporting requirements has also deterred foreign entities from borrowing in the U.S. market. Foreign issuers could avoid the costs of a public offering by selling MTNs in the U.S. private placement market. However, yields on most private placements included an illiquidity premium resulting from regulatory restrictions on trading.

The adoption of SEC Rule 144A in April 1990 effectively created an alternative market in which foreign corporations could gain access to U.S. investors without having to satisfy the disclosure requirements for public offerings. Rule 144A allows institutional investors to trade private placements among themselves with few restrictions. To protect less sophisticated investors, the SEC requires that 144A securities be sold only to “qualified institutional buyers,” which own and invest in a minimum of $100 million in securities. This definition is broad enough to include most of the institutions that buy MTNs, such as banks and bank trust departments, insurance companies, pension funds, mutual funds, investment advisers, and state and local governments. A foreign issuer of a 144A security must provide, upon demand by a security holder or potential purchaser, a brief description of the business and financial statements for the three most recent fiscal years, which can be in the accounting format used in the issuer’s home country. Privately placed MTNs are an example of a security that may be eligible for resale under Rule 144A.

Since the adoption of Rule 144A, issuance of MTNs by foreign corporations in the U.S. private market has increased markedly. In general, MTNs issued by foreign corporations under Rule 144A have similar characteristics to those sold by U.S. corporations in the public market. Both typically are dollar denominated and investment grade, with standard covenants.

The adoption of SEC Rule 415 in 1982 was the key event that removed the regulatory impediments to continuous offerings of corporate notes. Other regulatory changes, such as SEC Rule 144A and liberalizations by European central banks, have been instrumental in the development of new sectors in the MTN market. As a result of these regulatory changes, financial markets have become more efficient. In 1992, the SEC eased restrictions on the types of securities eligible for shelf registration. As a result of this ruling, asset-backed MTNs emerge as the next major growth sector in the public MTN market.

InvestorEarth.com is an educational site dedicated to providing investors proven, high yield Private Trading Investments in a global recession market. Please visit www.investorearth.com.

NEW YORK (Reuters) - Lehman Brothers Holdings Inc’s emergency bankruptcy filing wiped out as much as $75 billion of potential value for creditors, The Wall Street Journal reported on Monday, citing an analysis by the bank’s restructuring advisers.

A more planned and orderly filing would have allowed Lehman to sell some assets outside of bankruptcy court protection and would have given it time to unwind derivatives positions, according to the analysis by Alvarez & Marsal.

The Journal said it was too early to say how much money Lehman creditors would recover; it said unsecured creditors have asserted they are owed $200 billion.

Lehman filed for bankruptcy protection in September after the U.S. government declined to bail it out and a frantic weekend of negotiations to save the investment bank failed.

The Lehman meltdown touched of a stock market panic and credit crisis and was quickly followed by a government rescue of American International Group Inc, once the world’s largest insurer.

Lehman’s demise also ignited a wave of fire sales of other giant financial groups such as Wachovia Corp and Merrill Lynch & Co Inc.

Lehman executives were not immediately available to comment on the Journal report.

reuters.com

Lehman Brothers Holdings Inc. is a global financial-services firm.

The firm does business in investment banking, equity and fixed-income sales, research and trading, investment management, private equity, and private banking.

It is a primary dealer in the U.S. Treasury securities market. Its primary subsidiaries include Lehman Brothers Inc., Neuberger Berman Inc., Aurora Loan Services, Inc., SIB Mortgage Corporation, Lehman Brothers Bank, FSB, Eagle Energy Partners, and the Crossroads Group.

The firm’s worldwide headquarters are in New York City, with regional headquarters in London, England, and Tokyo, Japan, as well as offices located throughout the world.

In Hong kong we see different situation

News update for this week 21 sept 2008

HONG KONG - Hundreds of people who made investments linked to failed U.S. investment bank Lehman Brothers have rallied in Hong Kong in hopes of securing their money.

Lehman Brothers did not immediately return a call seeking comment. Billions of dollars in losses from souring debt forced the bank to file for bankruptcy earlier this week.

From news report