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The following information is about P&s.

P&s Defined

Purchase and sale (statement from broker)

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Credit Rating Agencies

Published December 5, 2008, 8:34 am, Resource Investor

Credit rating agencies were at the heart of the rise of securitisation, and securitised assets were at the heart of the Subprime problems. Plainly these agencies are slated for major reforms. This article presents the statement of an eminent group of financial economists on such reform.

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Hartford soars on higher outlook, strong capital

Published December 5, 2008, 7:54 am, Reuters via Yahoo! News

Hartford Financial Services Group Inc raised its 2008 profit forecast and said it had more than enough capital to withstand significant further deterioration in equity markets, sending its shares up as much as 52 percent.

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RAM Holdings Ltd. Comments on Moodys Ratings Action

Published December 5, 2008, 5:45 am, Business Wire via Yahoo! Finance

HAMILTON, Bermuda----RAM Holdings Ltd. responded today to Moody’s Investors Service ratings action. Moody's downgraded to Baa3, from A3, the insurance financial strength rating of RAM Reinsurance Company Ltd. .

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Puff, the tragic jargon, lurks behind every new hedge fund

Published December 5, 2008, 5:12 am, Sydney Morning Herald

The investment industry has never put much stock in truth in labelling. Part of becoming a seasoned investor is learning to read behind the marketing puff to understand how your money is really being managed.

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Royal Bank of Canada reports fourth quarter and 2008 results

Published December 5, 2008, 4:30 am, CNW Group via Yahoo! Finance

Royal Bank of Canada today reported net income of $4,555 million for the year ended October 31, 2008, down $937 million or 17% from $5,492 million a year ago. Earnings over last year were reduced by writedowns of $2,785 million before-tax and higher provisions for credit losses primarily in our U.S. banking business.

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South African Stocks Set for Biggest Weekly Drop Since October

Published December 5, 2008, 3:30 am, Bloomberg

Dec. 5 (Bloomberg) -- South Africa’s benchmark stock index fell, poised for the steepest weekly drop in more than a month, as investors speculated the economic contraction and job losses in the U.S. will curb demand for commodities.

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To repair Rhode Island roads, report calls for new tolls, taxes and higher fees

Published December 4, 2008, 9:29 pm, The Providence Journal

PROVIDENCE — Driving your car may take on a new and larger meaning — for your wallet.

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TD Bank quarterly net income slips to $1.01 billion, 2009 expected to be better

Published December 4, 2008, 5:04 pm, Canadian Business

TORONTO - TD Bank Financial Group (TSX:TD) saw its quarterly earnings fall partly due to its first major writedown related to the credit crisis,

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Muni Bond Credit Swaps Soar as Credit Crisis Hits Governments

Published December 4, 2008, 3:56 pm, Bloomberg

Dec. 4 (Bloomberg) -- The cost of protecting U.S. municipal bonds rose for a second day after the Port Authority of New York and New Jersey failed to attract bids for $300 million in taxable notes yesterday and as California faced a cash shortage.

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Need for property benchmark intensifies

Published December 4, 2008, 3:50 pm, Financial Times

An accurate benchmark index for the commercial property market has always been a problem owing to the relatively few transactions and disparate nature of the assets in the sector.

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