Tag Archives: settlement

Will The ‘Canyon de Chelly’ Navajo See Even A Cent Of This $6.5 Million ‘Wells Fargo’ Settlement With ‘Navajo Nation’?

by Anura Guruge


Click to access the original from “The Hill”. Google for more.


My concern is very simple. Will individual Navajo, like those in ‘Canyon de Chelly‘ (some of whom I know), get any of this money as a stipend, or Will the ‘Navajo Nation‘ insist on spending it, on behalf of them, on supposed projects that will benefit them?

To be fair, I see the pros and cons of both ‘solutions’.

True, some of the Navajo, though not all, will just fritter away whatever they get, on trivials, and will have nothing to show for it in days if not the end of the first day. Yes, they can be irresponsible and juvenile with money. But, part of that is that many have never had that much.

On the other hand, though they are supposedly getting better, I do not trust the ‘Navajo Nation‘. I think they are irresponsible, often naive and (as with all organizations of this type) there is the inevitable corruption.

So?

I have never been (thankfully) a Wells Fargo customer. I know that they were forced to pay all sorts of restitution for all of their egregious crimes. What I do not know is whether some of these other settlements will DIRECTLY compensate Navajos who were cheated, abused and robbed directly. I want restitution, directly, for whatever they lost.

Well, I just wanted to get this out. I am powerless to do anything. I am but a concerned outsider thousands of miles away.

But, I care deeply for the Navajo and always want what is BEST FOR THEM.


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by Anura Guruge


Fidelity BillPay & Cash Management Flawed.

by Anura Guruge


fidelitybillpay


I am a huge fan of Fidelity Investments. I have been a customer for over 24 years and they are very nice to me, at least 99% of the time. In general I have nothing but GOOD to say about them. They do try.

But recently I discovered, to my cost, that their cash management policies, that have always been suspect, can lead to SERIOUS problems when it comes to Bill Pay.

Fidelity, of late, has been enticing all of their customers to partake in their Fidelity BillPay — and even offering incentives.

Well, be careful. Very careful.

A very nice lady representative (and 99.9% of Fidelity’s reps are OUTSTANDING) summed it up yesterday, very pithily as such: “However hard we (i.e., Fidelity) try in the end we are NOT a bank and continue to be a traditional brokerage house”. And that is the issue. Though they like to act and quack like a bank, in the end they are not.

Their cash management has always given me pause — though after all these years I have kind of come to terms with it. But it still bothers me.

If you buy stock (or equivalent) at Fidelity they IMMEDIATELY take your cash. Bang. Actually you can’t complete the transaction unless you have the cash or margins (and I don’t deal in margins (since I know I will be tempted)). That is OK.

But when I sell any stocks (or equivalents), HELD at Fidelity (and as such known to be liquid and beyond reproach) they don’t let me have cash to WITHDRAW till 3 days later. The old, traditional brokerage house 3-days to settle. That is duplicitous and disingenuous. But they get away with it because you have no choice. IF you trade with Fidelity those are THEIR rules.

Well Fidelity BillPay sometimes falls foul of their Brokerage House mentality and rules. You may have cash in your account and their system will tell you that you have cash BUT when it comes to BillPay that cash might not be accessible. It is crazy.

Best to do your bill pay through a band and just transfer funds from Fidelity to the bank. That is what I am now doing — via Bank of America.


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++++ Search on ‘Fidelity‘ for other related posts from past years >>>>


by Anura Guruge

MF Global Holdings Investor Settlement — Submit Claim & Release Form.

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by Anura Guruge


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MF Global Holdings settlement


A friendly heads up if you are or were a MF Global Holding investor — who got burned. There has been a $64.5 million settlement and ‘proof of claim’ and ‘release’ documents have been sent out, to those ‘on record’ — and these are due back by December 3, 2015.

IF you think you qualify and have NOT received the forms, which arrived c. August, you should contact: www.mfglobalsecuritiesclassaction.com

I have the forms BUT still haven’t got around to filling them. I should do that today. Mine shouldn’t be hard to complete.

I bought MF Global JUST for this type of settlement! SMILE. I paid 20 cents a share. So, YES, I could still end up losing money but it was worth the gamble. I did good (SMILE) with Bear Stearns. I bought some shares, the morning that they went belly-up, for $2.00. That was one heck of an investment.

I still think that Jon Corzine should go to jail but that will never happen.

Well, I hope this helps.