Word: mutualize
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...certain investment firms. A fund administrator will determine who can make a claim, and details will be posted on the SEC website sec.gov) Setting up a distribution plan could take a year. After a plan is announced, investors should have several months to respond. It's not clear whether mutual-fund investors, who lost plenty, will get anything. It may be up to funds to make any claims, which puts them in a delicate spot: they would have to admit that they relied on others' stock ratings...
...past week--that Shi'ite militants will form an Islamic republic with Iranian support--is unlikely. Iraq has a significant secular middle class. The leading Iraqi ayatullah, Ali al-Sestani, believes in the separation of church and state. The Iraqi and Iranian Shi'ites have a history of mutual disdain and bloodshed. And even Iran's Foreign Minister, Kamal Kharrazi, said last week that Iraq's ethnic and religious diversity makes it an improbable candidate for an Islamic republic...
...built slowly, carefully. Groundwork must be done at the ministerial level. Diplomats are cautious, and they don't like to stage a summit unless a deal has been precooked. Fine, but a beginning must be made. The ultimate deal could be something as modest as a vague statement of mutual purpose: "We, the undersigned, agree that Iraq should continue to exist within its current borders with a federal government that represents all existing ethnic and religious interests." Or it could be as ambitious as the Afghanistan process, or even more ambitious. It is obvious that the U.S. military will have...
...unions have long called themselves the best-kept secret in banking, but they are currently looking more and more like for-profit businesses. In Colorado, six credit unions formed a trust company in 2001, and one of its members, Bellco in Greenwood Village, offers everything from investment advice to mutual funds, annuities and insurance. "We're trying to create an image that we're a full-service financial institution," says Bellco CEO Doug Ferraro, 41. "Big banks are marketing to the wealthy, and middle-income people are being underserved...
...portfolio of munis up to about $100,000, the most cost-effective route to safety and diversification is a well-run, low-cost mutual fund. Some good choices are in the box at left. For bigger portfolios, it pays to buy (and therefore control) your muni bonds directly. Your best bet is to work through a financial adviser...