Wall Street Giants Collapse!

I have been fielding hundreds of calls over the past couple of days because of the panic that has gripped the equity markets.

The market closed down over 504 points on Monday afternoon - the worst decline since the day after the 9/11 bombings in the heart of our financial system in New York. What is all of the concern about?

Well, there is a lot to be concerned with. Lehman Brothers and Merrill Lynch were pillars of the Wall Street empire - they were partly responsible for the naming of New York as "the Empire" state. Now Lehman has gone bankrupt after 158 years of remarkable success. Merrill Lynch, the most highly revered brokerage house on Wall Street turns out to manage money quite poorly, and will be acquired by Bank of America in an attempt to save any part of the brokerage house. This is a sad day for capitalists everywhere.

But the most frightening new failure by far is the insurance giant AIG. AIG had a credit rating of AAA, which is the highest possible credit rating for a financial institution - and they have still fallen. This really casts an ominous cloud over the whole financial market fallout. If the most secure insurance companies can collapse, who is really safe from the volatility and confusion?

I'll tell you... Look for alternative investments that focus on buying the high quality assets from these credit crunched banks for pennies on the dollar. These are not stocks - they are direct ownership investments that are fully secured, offer dividends in the 7-13% range right now, and never fluctuate on your statement. These best investments are no-loads or commission free and have a maturity of between 3-7 years depending on the fund. Almost anyone can get them.

If you cannot find information regarding these types of alternatives, please do not hesitate to send me an email! As always, do your homework... you'll thank me later!