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Wednesday, October 22, 2008

Mid-Week Articles:

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CREDIT RATERS GET GRILLED ON CAPITOL HILL
WASHINGTON (AP) - The companies which said that securities backed by subprime mortgage loans were as good as gold are getting a grilling on Capitol Hill.
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BANKS MARKETING DEBT IN QUESTIONABLE TIMES
U.S. data mining companies are helping banks target credit card customers even if the cards are not in the customers best interest, a consumer advocate said.
read more

BUYER / SELLER 101 NOVEMBER 13-14 CLASS HAS SEATS AVAILABLE
The Debt Marketplace, Inc. is committed to providing comprehensive industry resources for maximizing returns and controlling risk, announces that seats are open for its Buyer / Seller 101 course. This two-day class, targeting new market participants and those who are considering it for improving their overall results with debt buying and selling, reviews:

• Overview of the Industry
• Compliance
• Due Diligence
• Pricing
• Negotiations
• Collection Strategies
• Measuring Success
• Marketing Strategies

If you are a first time buyer or veteran, this class can benefit you! Starting with the basics, you develop skills under the insightful instruction of Dennis Hammond, a leader in the Debt Buying / Debt Selling industry.
For more information and to sign up for this class, please browse this link:
http://www.debtmarketplace.com/buyerseller101.html

Click here for Brochure in a PDF

SHORT-TERM BORROWING RATES PLUNGE TO FOUR-YEAR LOW
Corporate short-term borrowing costs plunged after the Federal Reserve accelerated efforts to unlock the commercial paper market by providing loans to money-market funds that buy the debt.
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WACHOVIA SUFFERS NEARLY $24 BILLION LOSS
NEW YORK (CNNMoney.com) -- Wachovia reported a massive loss of nearly $24 billion Wednesday, in what was expected to be its last quarter as an independent company.
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US BANKS GET THREATENING LETTERS
Threatening letters containing a suspicious white powder sent to more than 30 banks across the US were being investigated by the FBI.
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GLOBAL CONNECT REEMPHASIZES VOIP PLATFORM AND UNVEILS KEY FEATURES TO INCREASE EFFICIENCY AND EFFECTIVENESS OF VOICE MESSAGING CAMPAIGNS
Mays Landing, New Jersey – Global Connect, the leading provider of voice messaging and notification services, has announced a number of new features that will help clients reach their contacts even more quickly and effectively.
read more

EBUREAU ANNOUNCED AS FINALIST FOR NINTH ANNUAL TEKNE AWARDS
ST. CLOUD, Minn. - eBureau was named as an emerging company finalist in the Technology Service Awards category for the 2008 Tekne Awards, which will be held at the Minneapolis Convention Center on Oct. 30. The Tekne Awards recognize Minnesota companies and individuals who have shown superior technology innovation and leadership.
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INFORMATION ACCESS TECHNOLOGY SELECTS PAYMENT VISION® TO OFFER PAYMENT GATEWAY SERVICES TO CUSTOMERS OF ITS CALL CENTER SOFTWARE, CT CENTER AND CT IMPACT
GAITHERSBURG, Md.- Information Access Technology, Inc (IAT), one of the leading providers of predictive dialing and communication solutions for the collections industry announced today that customers of its site-premised (CT Center) and hosted (CT Impact) solutions will have access to the gateway services of Payment Vision®, the popular payment gateway powered by Autoscribe Corp.
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STOCKS SLUMP ON RECESSION FEARS
NEW YORK - Stocks tumbled Wednesday morning as Wachovia's big quarterly loss and a host of other bleak earnings reports exacerbated recession fears.
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CDO CUTS SHOW $1 TRILLION CORPORATE-DEBT BETS TOXIC
Investors are taking losses of up to 90 percent in the $1.2 trillion market for collateralized debt obligations tied to corporate credit as the failures of Lehman Brothers Holdings Inc. and Icelandic banks send shockwaves through the global financial system.
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AMERICAN EXPRESS SAYS PROFIT DECLINED BY 24%
NEW YORK - American Express Co. said Monday its profit fell 24 percent in the third quarter as cardholders restrained their spending and had more trouble paying off debt.
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TRANSUNION SMARTMOVE PROVIDES RENTERS AND LANDLORDS WITH A SPEEDY AND SECURE RENTAL SCREENING PROCESS
CHICAGO - Given today's economic environment, renting an apartment or home is especially challenging for consumers and independent rental owners alike, as each are focusing on ways to reduce spending and improve predictability, while protecting sensitive personal and credit information. In August, TransUnion rolled out its new solution, SmartMove (http://www.mysmartmove.com/), a secure and easy-to-use online tool for renters and landlords to enhance the rental screening process and prevent financial losses.
read more

FED WILL BACK UP MONEY MARKET FUNDS, TO UNFREEZE LENDING
WASHINGTON - The Federal Reserve on Tuesday announced it will provide backup financing for the money market mutual fund industry, the latest in a series of steps aimed at getting credit moving again.
read more

TREASURY HIRES ACCOUNTING FIRMS UNDER THE EMERGENCY ECONOMIC STABILIZATION ACT
Washington - The U.S. Treasury Department today announced that PricewaterhouseCoopers LLP and Ernst & Young will assist the Department in the implementation of the Troubled Asset Relief Program authorized under the Emergency Economic Stabilization Act. Treasury hired PricewaterhouseCoopers on Thursday and hired Ernst & Young on Saturday.
read more

REGIONAL BANKS LINE UP FOR GOVERNMENT $
NEW YORK - When the U.S. government starts cutting checks to troubled financial institutions, expect many of the nation's struggling regional banks to be first in line.
read more

NATIONAL CITY POSTS BIG LOSS, TO CUT 4,000 JOBS
National City Corp. (NYSE: NCC) has reported a big third-quarter loss, and also said it will be cutting about 4,000 jobs over the next three years as part of its previously announced “performance enhancement initiative.”
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U.S. TRYING TO STOP MILLIONS OF FORECLOSURES, PAULSON SAYS
WASHINGTON - The Treasury and the Federal Deposit Insurance Corp. are working with the Federal Reserve and Fannie Mae to prevent millions of home foreclosures, Treasury Secretary Henry Paulson said Tuesday in an exclusive interview on "Charlie Rose" on PBS airing Tuesday night, according to a transcript of the interview.
read more

ANALYSTS CAUTIOUS ON AMEX
Standard & Poors gives credit card giant a negative outlook, a day after company reports 24% drop in profits. Slowdown in consumer spending will hurt the company.
read more

VISA INTRODUCES NEW ACCOUNTS PAYABLE AUTOMATION AND DATA INTEGRATION SERVICES DESIGNED TO BOOST EFFICIENCY OF B2B PAYMENT PROCESS
In response to the growing trend of businesses seeking to streamline expense management systems, Visa Inc. (NYSE: V) today announced the introduction of Visa Accounts Payable (AP) Automation, a new service designed to help large and mid-sized businesses reduce costs associated with expense management, purchasing and accounts payable processes.
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AGENCIES ENCOURAGE PARTICIPATION IN TREASURY'S CAPITAL PURCHASE PROGRAM, FDIC'S TEMPORARY LIQUIDITY GUARANTEE PROGRAM
The federal banking and thrift regulatory agencies encourage all eligible institutions to use the Treasury Department's Capital Purchase Program and the Federal Deposit Insurance Corporation's Temporary Liquidity Guarantee Program.
read more

BERNANKE: TIME TO CONSIDER STIMULUS
NEW YORK (CNNMoney.com) -- Federal Reserve Chairman Ben Bernanke testified Monday that Congress should consider passing a new stimulus package to try to jump start the economy.
read more

DebtConnection.com is a searchable database of collection products and services.
The following Updates and New Entries occured since the last At A Glance was sent:

Portfolios For Sale

$402,002,271.00     Telecommunications
WorldWide Debt Exchange
http://www.debtconnection.com/portfolio.asp?620
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1690

$8,443,597.00     Credit Cards
Oliphant Financial, LLC
http://www.debtconnection.com/portfolio.asp?618
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?250

$42,499,792.00     Auto Deficiencies
AmeriCredit Financial Services
http://www.debtconnection.com/portfolio.asp?617
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?3538

$18,862,253.00     Auto Deficiencies
AmeriCredit Financial Services
http://www.debtconnection.com/portfolio.asp?616
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?3538

$15,351,192.00     Retail
Oliphant Financial, LLC
http://www.debtconnection.com/portfolio.asp?615
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?250

$5,063,000.00     Credit Cards
Pacific Healthcare Services, Inc.
http://www.debtconnection.com/portfolio.asp?614
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?3122

$573,837.00     Other
Pacific Healthcare Services, Inc.
http://www.debtconnection.com/portfolio.asp?613
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?3122

$4,564,187.00     Checks
Fairway Financial Solutions LLC
http://www.debtconnection.com/portfolio.asp?612
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?3606

$56,100,000.00     Consumer Loans, Credit Cards
WorldWide Debt Exchange
http://www.debtconnection.com/portfolio.asp?611
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1690

$7,365,529.00     Other
Oliphant Financial, LLC
http://www.debtconnection.com/portfolio.asp?610
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?250

$6,626,822.00     Other
Oliphant Financial, LLC
http://www.debtconnection.com/portfolio.asp?609
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?250

Agency

WORKOUT SOLUTIONS
857-233-2487

Attorney

HEIS & WENSTRUP CO., L.P.A.
513-421-4225

Consultants

THE DEBT MARKETPLACE, INC.
Dennis Hammond
562-903-7220
More Information

LOCATEPLUS
888-746-3463

LEXISNEXIS
561-999-8622

Debt Buyers

WORKOUT SOLUTIONS
857-233-2487

CAVALRY PORTFOLIO SERVICES, LLC
602-667-0128

Skip Tracing

LOCATEPLUS
888-746-3463

Training

WORLD RESEARCH GROUP
646-723-8060

LOCATEPLUS
888-746-3463

Industry Events

Financial Services Collections Conference
Collections & Credit Risk
Bellagio Hotel and Casino
Las Vegas, NV
October 22 - 24, 2008
More Information

7th Annual BITS/American Banker Financial Services Outsourcing Conference
SourceMedia, Inc.
Westin Alexandria
Alexandria, VA
October 27 - 28, 2008
More Information

Subprime Litigation & Enforcement
American Conference Institute
Millennium Broadway Hotel
New York, NY
October 28 - 29, 2008
More Information

US Hispanic and Latin American Markets: A World of Emerging Opportunities
Credit & Collection Symposium of the Americas
Hyatt Regency Hotel
Miami, FL
October 28 - 30, 2008
More Information

2008 International Insolvency Symposium
American Conference Institute
Hilton Frankfurt
Frankfurt, Germany
October 31, 2008
More Information

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This report is sponsored by The Debt Marketplace. Our firm specializes in assisting buyers and sellers in all aspects of the transaction process, including...

Marketing your portfolio.
Due Diligence for Buyers and Sellers.
Evaluating the viability of a sale.
Addressing pricing, contract and negotiation considerations.
Attaining the most efficient transition possible, while minimizing post-sale issues.

Our consulting projects are customized to provide the level of involvement and information that best meets our clients' needs.
Check us out at: http://www.debtmarketplace.com/

Copyright 2001 - 2008 THE DEBT MARKETPLACE, INC. 562-903-7220
THE DEBT MARKETPLACE, INC., 10440 Pioneer Blvd., Suite 2, Santa Fe Springs, CA 90670-8235

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