AFP Webinar on "The Credit Crisis - That's Another Fine Mess We've Gotten Ourselves Into!"
The Association of Financial Professionals (AFP), formerly known as the Treasury Management Association, hosts a Corporate Finance Series Webinar entitled "The Credit Crisis - That's Another Fine Mess We've Gotten Ourselves Into! today (Wednesday), July 22 at 3:30-4:30pm. The talk will be done by money market securities Brian Kalish, AFP's Director, Finance Practice Lead. The description says, "The past 24 months have been an extraordinary period of time for the global economy. Many people have been asking: How did we get here, where are we now, and where are we heading? This session will review the events of the past 2 years, describe where we are now, and offer insight to where we might be heading." Registration is $50. Note that the recently released "2009 AFP Liquidity Survey" has some content on auction-rate securities. The survey says, "The use of commercial paper, separately managed accounts, and auction-rate securities in short term portfolios declined significantly over the past year." Organizations allowing the use of ARS declined from 18% to 8%, and the current allocation of ARS fell to almost zero (0.3%) in the latest survey. See also, WSJ on TD Ameritrade's earnings, which says, "Chief Financial Officer Bill Gerber said fee waivers in the third quarter equaled 60 basis points on $18 billion in money market funds. The company currently manages $14 billion in money market funds, though it has begun to move some cash out of those funds to its own balance sheet and into money market deposit accounts."
