Litigation

Fitch Affirms AIG at AA- on Government Support

Posted on November 12, 2008
Actions announced Monday by American International Group, Inc. (AIG), Treasury and the Federal Reserve provide a high level of explicit and implicit U.S. government support for AIG as the company implements its previously announced restructuring plan, according to Fitch Ratings,...

To Err is Human, Imperialism Is "Benaim"

Posted on November 11, 2008
Pardon me for bastardizing a quote from Alexander Pope's appropriately titled An Essay on Criticism to launch into today's diatribe about Imperial Structured Settlements, LLC. If one can see past the sultry photograph and platitudes of the Farrah Fawcett locked...

Being Approached By Factoring Company For Your Structured Settlement Payee List?

Posted on November 11, 2008
One of the low lights of the 2005 Society of Settlement Planners education meeting was the density of factoring company representatives, including the reprehensible Sal Venti , who then representing Novation Capital. Other than odious gossip Rhonda Bentzen, who remains...

Market Reaction to AIG Bailout Restructuring Positive

Posted on November 11, 2008
Reuters reports that 5 year credit default swaps on American International Group, Inc. ("AIG") fell sharply from 49% up front to 19% up front plus $500,000 in annual premium. This represents the cost of insuring AIG's debt with credit default...

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Alarming Number of Attorneys Unwittingly Exposing Their Clients By Not Having Fundamental Understanding of Structured Settlement Documents; Some Settlement Consultants Too!

Posted on November 11, 2008
I have to say I am alarmed at the number of attorneys and even some settlement consultants that I encounter who appear to lack a fundamental understanding of structured settlement documents. The affliction appears to affect both sides of aisle....

321 Henderson Under Review By Standard & Poors... A Side Issue Highlights Marketplace Identity Confusion

Posted on November 10, 2008
Standard and Poors announced October 7, 2008 that it was "reviewing information pertaining to recent orders of the California Superior Court in Fresno County California to determine the potential impact on structured settlement transactions (sic)". The review by Standard and...

Revised AIG Bailout Package to Be Unveiled Monday November 10, 2008?

Posted on November 09, 2008
Various news agencies including Reuters and the Wall Street Journal suggested on Sunday that a restructured rescue plan is close to being put in place for American International Group Inc.(AIG) and may be announced on Monday November 10, 2008. It...

Only A Matter of Honor Will Save Potential Public Relations Disaster For Structured Settlement Industry

Posted on November 08, 2008
There are apparently a number dishonorable settlement consultants in our midst affiliated with an NSSTA member firm who are purportedly SELLING structured settlement payee names and have partnered with a "cash now pusher" factoring entity. Neither these brokers nor the...

TheStructuredSettlementSite.Com "Baker The Faker"

Posted on November 08, 2008
What are screen shots of Joe Jamail, Mark Wahlstrom, Jan Schlichtmann an other Legal Broadcast Network items doing on a website that advertises "Hot Flash Freedom", Colon Sweep" and "Sleeping Pills"? Are we supposed to be impressed with a web...

New York Life "More Capital Than Is Required TO Maintain Our AAA Ratings"

Posted on November 07, 2008
New York Like Insurance Company announced on November 6, 2008 that it WILL NOT participate in the Treasury Department's capital purchase program.In a statement released on the Business Wire a New York Life spokesman said " when it became clear...

Complaints Against JG Wentworth on The Rise- Better Business Bureau Stats

Posted on November 07, 2008
Andrew Cravenho reports that JG Wentworth has recently been stripped of its satisfactory rating from the Better Business Bureau ("BBB"). ?To have a ?satisfactory BBB Rating? with BBB, a business must be in business for at least 12 months, properly...

A Spooner Full Of Burnt Sugar From NSSTA Board

Posted on November 07, 2008
One of the tricky aspects of making creme caramel is caramelizing the sugar. Take your eye off the ball for a moment and the deliciously sweet syrup turns into an icky mass that is as bad as stale coffee. This...

Unfortunately Some "Fathers" Have "Abused" Their Offspring

Posted on November 05, 2008
Giving his perspective of the National Association of Settlement Purchasers (NASP) 4th annual meeting, Settlement Capital general counsel Matt Bracy refers to Patrick Hindert as the "father" of the structured settlement business. While I doubt Bracy would agree, in my...

Take Advantage of Woodbridge "Settlement Offer" NOW!???

Posted on November 05, 2008
This may seem highly irregular given my distaste for the marketing of cash now pusher Woodbridge Investments, but today I am happy to promote them by taking their advertising literally.You see consumers and plaintiff attorneys around the nation, in an...

"Cash Now Pusher" Element of Factoring Industry Suffers Crushing Defeat in Palm Beach Election for Florida Legislature

Posted on November 05, 2008
State Rep, District 87 60 of 84 Precincts Reporting PercentVotes Adam Hasner60.96%29,262Robert ''Rob'' Ostrov39.04%18,738 48,000

Robert Ostrov Getting Pummeled in Florida District 87 9:06pm

Posted on November 04, 2008
Rob Ostrov the general counsel to "cash now pusher" Structured Asset Funding is getting pummeled by incumbent Adam Hasner. As I write its 59.19% to Hasner and 40.81 to Ostrov.

Discussing "A Couple of Points"

Posted on November 04, 2008
Andrew Cravenho, the factoring industry thought leader who the odious Rhonda Bentzen "jealously" refers to as "my young pet", has advanced a couple of points for discussion. This post deals with one of them... commutation. With respect to structured annuity...

The Credibility of Trade Associations

Posted on November 04, 2008
It has come to the attention of this author that the individual entrusted with the membership of the National Structured Settlement Trade Association is an individual of "exemplary" stature, IF one considers exemplary that H. H. Spooner Phillips IV, the...

"Hash Man" Reveals Peachtree Settlement Juicy Payout To Investors

Posted on November 04, 2008
Hasham Malik, Peachtree Settlement Funding's Chief Capital Markets Officer, discussing a renewal of a credit facility for lottery buy outs and said in today's press release: 'Given the dearth of liquidity in the capital markets, we are pleased that our...

"Cash Now Pusher" Attorney Robert Ostrov Getting Pummeled in Florida District 87 9:06pm

Posted on November 04, 2008
Rob Ostrov the general counsel to "cash now pusher" Structured Asset Funding is getting pummeled by incumbent Adam Hasner in Palm Beach County. As I write its 59.19% to Hasner and 40.81% to Rob Ostrov.

You Can Bank On It

Posted on November 03, 2008
AGORA Financial reports today that "Bank of America, JPMorgan Chase, Citigroup and the rest of the crew are starting to cash in their government bailout checks. And in a ?you gotta be kidding me? moment, we find out that they...

Allstate CEO 3Q 2008 Message..."in Good Hands"

Posted on November 03, 2008
Allstate Corporation has released a statement for current and prospective policyholders and structured settlement stakeholders containing useful information about the organization, its philosophy and finances. The information is not intended for use in the State of New York where a...

"Hedwig" and The Angry Inch...IIlogic from Indiana

Posted on November 03, 2008
Among Hindert's suggestions for the "next generation of industry leaders" :Examining Business standards - The next generation of industry leaders should study the AIG Structured Settlement Model and AIG structured settlement standards as one example of a failed claim management...

Aviva group ratings affirmed by Standard & Poors on strong business fundamentals

Posted on November 03, 2008
Following the S&P announcement on October 28, 2008 the following was released by Tom Godlasky, CEO of Aviva USA.?Today?s interim management statement and reaffirmation of Aviva plc?s AA/AA- rating fromS&P confirm that our capital position, asset base and diverse businesses...

50% of Internet Traffic To Be in Online Videos by 2012-Cisco

Posted on November 03, 2008
Online video is booming. Cisco Systems estimates that by 2012 nearly 50 percent of all Internet traffic will be to online videos. In 2008 there is Broadband usage in 66% of US Households and 97% of businesses Among all active...

Moodys Affirms Hartford Life Aa3 Financial Strength Rating

Posted on November 03, 2008
Some good news for Hartford Financial Services Group today after the rough 3rd quarter news that came out last week and caused its stock to plummet 52% and moodys downgraded the company's senior debt one notch to A3. Moodys Investors...

A Tainted Legacy

Posted on November 02, 2008
Unfortunately Patrick Hindert's now tainted legacy in the structured settlement industry will be as an "aide de camp" of "financial crack dealers" and there's no way back. In NSSTA Fall Meeting-3, his third post not about a meeting that he...

Pressman Settlements Corporation Continues to Be All FAQd Up!

Posted on November 02, 2008
How FAQ'd Up is Pressman Settlements Corporation? Let Me Count The Ways! States that structured settlement payments are funded by either a life insurance company annuity or US Treasury Bond and then states they are funded by multi-billion dollar life...

AALU Supports Treasury Making Capital Available To Life Insurers Through Discount Window

Posted on November 02, 2008
David Stertzer, CEO of the Association for Advanced Life Underwriting ("AALU") stated the case in his CEO Update of October 30th, for why the United States Treasury should make capital available to life insurers as it has for banks (to...

Palm Beach Voters Should Tell Ostrov To "Kiss Off"

Posted on November 01, 2008
Only days remain to see if attorneys and other voters in Palm Beach County Florida have the balls to elect the counsel for "financial crack dealer" Structured Asset Funding into the Florida State legislature over incumbent Adam Hasner. Electing Robert...

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