When the Industrial Revolution came to the United States in the mid-1800s, companies began to rapidly expand and they needed money for this. At that time, companies realized that investors would buy stocks or partial ownership in the company, and this would provide the companies with the funds necessary to expand. At the same time, investors also realized that they could make a profit off the company stocks they already held by re-selling them to people who saw a value in the future of the company. This created the secondary market or speculative market, which was driven by the speculation of investors. It was during this time that the potential of the stock market became clear to both investors and companies.
The New York Stock Exchange (NYSE) is where it all started- It was in 1792 when 24 men who were New York merchants signed an agreement stating, “We will trade securities between ourselves, with established commission rates”. Granted, people had been trading securities for years before that, but there was no “central exchange” in which to do business. From that humble beginning, it grew into the global leader of financial transactions, and is by far the biggest stock exchange in existence. The NYSE is where the world turns as far as the financial markets go.
In the early 1900′s, massive amounts of money were made on Wall Street. While many people realized that the markets could not sustain a boom forever, very few publicized this view, choosing instead to let the market be its own arbitrator. Millions of dollars were traded in the market and the market continued to flourish until the crash of 1929.
The 1929 Stock Market Crash is the most famous crash in U.S. history. The U.S “great depression” followed. People who had no knowledge of the stock market had borrowed big to invest in stocks- Making the fatal mistake of believing the stock market was a one-way street to fame and fortune. The 1929 crash was stunning by any measure. The Dow dropped 89%. It followed an impressive bull market that had been going on for the better part of a decade. The Dow Industrials did not get back to that level in 1929 until the end 1954.
For a while the economy eventually recovered from its catastrophic losses, but the market excesses that had factored into the crash in the late 1920s came back into the picture. The result was the stock market crash of 1987, which saw the Dow Jones suffer what was the largest single-day loss in the stock market’s history.
Since then, the government and the industry have tried to put measures in place to prevent, if not entirely eliminate, the possibility of such a large-scale crash again. The stock markets are now an integral part of the global economy, so proper safeguards to reduce the risks of another disastrous crash are necessary. But while efforts have been made to reduce the risk, the possibility for another stock market crash can never be ruled out.
Today, the New York and the American Stock Exchanges, have been joined by the NASDAQ, and hundreds of local and international Stock Exchanges, that all play a part in the national and global economy. In New York City alone, stock transactions amount to over 2.2 trillion dollars each day. Almost every large company in the US and around the world is traded on a Stock Exchange.
There have been some grand profits and losses with the stock market and since no two investors are exactly alike, and there are millions of investors, no one can predict what the stock market will do in the future. But looking at some statistics about where to put your money, investing in the stock market is the best way to increase your capital. Over the long term, the stock market has typically risen in value. Yet the market’s rise can’t be traced on a straight line. Despite some substantial highs and lows, the U.S. stock market (measured by Standard & Poor’s 500 Composite Index, a selection of stocks that mirror the broader market) has provided an average annual compound return of 12.5% over the past 30 years through December 31, 2006.
The recorded statement is a guarantee step in the claim investigation process.
Insurance adjusters will be calling you to ask if they can take your statement about the accident. Many people believe that they have to give these statements so the insurance company provides coverage for the loss. Most insurance companies have Cooperation Clauses in them, but none of them can require you to give a recorded statement in the event of a car accident.
You have the constitutional right to remain silent and to not testify against your own person. Even in murder trials, the right to no self incrimination is respected. The concept carries over to car accidents. No one can bound coverage and require you to be in a recording giving testimony of facts.
Taking a recorded statement is entirely voluntary. Do not let the insurance company tell you otherwise. If they tell you that the cooperation clause in your policy says that you must cooperate, then you can tell them that you will cooperate by giving a verbal statement (same statement just not recorded).
The cooperation clause is just that, a clause that requires you to help the insurance company’s investigation. It does not say that you have to do it under a recorded statement. If they are too pushy, then ask them to put their requirements on writing and verify what they are telling you against your actual policy.
Benefits v. Harms of a Recorded Statement
The benefit is that your insurance company will be able to better document your file. If there is a dispute about fault, and your case goes to arbitration, the arbitrator will probably look at a file with a recorded statement as having better evidence than a file without one. I have seen arbitrators decide that one person’s version of events was “more convincing” because she/he was willing to put their words in a recording.
The harms of giving a “bad recorded statement “could be many, delay in the investigation for something that you said that could bar coverage, complete denial of coverage, fault being construed against you, interpretation of your words against you, etc.
If you think that giving a recorded statement is the right thing to do, then consider only giving it to your own insurance company. If the other party’s insurance carrier asks for a recorded statement, have them contact your insurance company and “share” a copy of the tape. This way you only give one statement, and the people questioning you is your own insurance company (the one protecting your interests).
Here are the best 10 tips of what you should do before you give a recorded statement:
1. Make sure you have time to talk. Secure at least one hour of your time.
2. Make sure is time that work s for you and the adjuster’s. Do not do it before the adjuster’s lunch time. They will rush you to get out of the tape without giving you a chance to fully explain your point of view.
3. Have all the information available in front of you. For example, Names, streets, insurance polices, and the police report if possible.
4. Read your police before hand. This way you will know why the adjuster is asking what they are asking, and see if they are trying to find information to deny your claim.
5. Tell the adjuster that you are willing to give the statement only if they give you a transcription of what you said. Make sure you say this on the tape.
6. Remember that you can decline to answer any question for any reason at anytime. Just say it. I decline to answer for personal reasons.
7. Tell the adjuster that you will also record the conversation. This usually puts them in their best behavior.
8. Answer only what they asked you. If the question is what color is the light? then answer should be a color and nothing more.
9. If the question is subjective, decline to answer, tell them that you do not know, or simply just ask the adjuster what they are looking for specifically.
10. Be polite and respectful. If they are rude or anxious, the adjuster’s supervisor will probably side you. But if you are rude, your complaint will be dismissed.
Drive safe and hope that others will!
Even if you are watchful of your budget, things do happen. Particularly tragic to a household budget is a large, sudden debt, or the loss of income which may hinder your ability to repay.
debt negotiators may be able to help you come to equitable settlements for your debts.
Professional debt negotiators can work with your creditors to explain the situation and to negotiate on your behalf. Even if your creditors refuse to offer a repayment plan that suits you, don’t jump to the ‘bankruptcy’ mind set. Recent federal laws now require credit counseling before proceeding into bankruptcy. But there are also federal laws to help protect you from unscrupulous collection agencies.
The primary reason creditors may accept a settlement is because it is cost effective for the creditor. The degree of the discount (how much they will forgive) will vary case-by-case; therefore, a creditor will take into account many factors when determining their bottom line on accepting a settlement.
They calculate the probability of recouping the debt; either by a collection agency or via legal action, versus the amount of a settlement offer.
Before they agree to any settlement, they will often consider your income, state of residence, age of the debt, type of debt, and your assets.
Professional negotiators will appeal to your creditors that it is in their best interest to settle the debt.
Major difference between Debt Management and Debt Settlement
Debt Management
In a debt consolidation program, also known as a Debt Management Plan (DMP), the debtor pays back 100% of their debt plus interest. Interest is commonly reduced to the 8% to 10% range. Additionally, most Debt Management Companies have a monthly service fee tacked on to the monthly payment. Most people pay back about 130% of their debt over 5 to 6 year period. Debt Management has a moderate affect on a good credit file and will improve most poor credit files. But, a Certified Debt Arbitrator is qualified to explain both programs to you and will be able to provide you the differences in monthly payments as well as the pros and cons of each program.
Debt Settlement
In a Debt Settlement program, most clients pay back an average of 54% of their total debt, including all agency fees as well as accruing fees and interest. This 54% figure is based on the client’s starting balances.
Debt Settlement has a major impact on good credit but will improve credit for people that are 6 months or more past due. This improvement in credit profile is caused by bringing outstanding balances down to a ZERO balance.
Is debt settlement right for you?
Some consumers get so deep into debt, that bankruptcy seems their only way out before debt takes over their lives. Unlike bankruptcy, debt settlement is a far simpler process in comparison, and has less of a ‘stigma’ attached to it.
Personal injury lawyer is the most important aspect of the case. Ones claim can only be proved correct when their lawyer is tactful and understanding enough. It is important to choose the best and experienced person for making a successful claim. Before reaching any of the firm and lawyer one must keep in mind the track record of that person and the firm he belongs to. For the injured person it is one of the most important decisions of his life to choose a proper representator who can help him in and out of the court. It is necessary that the person you select must have experience and knowledge of handling accident attorney cases. Different laws and rules are applicable on different types of injuries and hence it is must to have a proper idea of personal injury laws for better results in the end of the case. In Philadelphia there are number of companies which deal with these type of civil cases and helps the person in reserving their right by providing them proper guidance and support by helping them in recovering their damage recovery.
One of the most famous of all is the Murphy, Haskins and dangler law attorney firm which is involved in this field from years and provide one of the best civil support services ever. Frank Murphy is handling all the accidental cases from past 33 years and is among one of the best lawyers in Philadelphia. He is among the board of directors of trial lawyer association and is also the governor of association for justice, Pennsylvania. He has handled hundreds of cases and has provided their customer with best damage recoveries ever. He also works as an arbitrator on cases and work as judge pro tem in Philadelphia. He one of the highest rating lawyers in his field. Apart from him, john F. Haskins is also working in this company and is specialised in personal injuries, medical malpractice, business law and criminal law. The company also holds various other specialised and world class civil case lawyers. It is important to keep in mind the type of case for which you want an assistance.
There is different law attorney specialist available in Montgomery County and hence one must choose the person who is related specifically to the field one wants help for. For car accident attorney there are different lawyers available whereas for criminal and business cases there are different. The country is mostly suffered from the deaths happen due to car crashes. Most of them are left injured mentally and psychologically. For them there are number of firms available who are involved in these services. The Murphy, Haskins and dangler law attorney firm is famous because of its fruitful services and does not charge any kind of amount until they won the claim. They work under contingency fee basis and are also involved in non profit, municipal and volunteer organisations. One can contact them online and can send their inquiry report through email.