| Seeking Balance
The global sell off of the past week was in part simply the profits taking that happens this time of year, and in part a number of our running themes being confirmed during this years shortest month. These are the US housing market, concerns about overall US debt levels, and the fact that East Asia will increasingly steer markets. We continue to believe we are moving towards a broader audience for the resource sector. There could be further pause if the entire equities sector consolidates due to US weakness, but that is in keeping with the start of the second stage of a secular resource bull market. The resource sector took a steep drop because it has had a large upside run. When pressured or scared into selling, traders try to make it painless by harvesting profits first and the resource sector has provided more of those than most.
Sub-prime mortgage lenders prey on aspirations of working families
As the U.S. housing market continues to deteriorate, many ruling class politicians and pundits are euphemistically referring to the growing crisis as a "market correction." They insist that the economic hardship is only temporary. While it may be possible for a millionaire Wall Street analyst to describe the current trouble in the U.S. housing market as a mere market correction, in reality it is a major crisis, particularly for working families across the country. Foreclosure rates and personal bankruptcy filings are soaring. The number of U.S. households involved in foreclosure proceedings grew a record 37 percent in 2006. Working families are being turned out onto the streets in waves. At the root of the recent spike in foreclosures among working-class households is the predatory practice of sub-prime mortgage lending.
Fixed-rate dilemma as bank shuns rise
FOR HUNDREDS of thousands of homebuyers across Scotland, the last few months have been full of uncertainty. Will base rates rise further? When might it happen? What will the impact be on mortgage costs? And what should borrowers do next? Despite last week's decision by the Monetary Policy Committee (MPC) to leave rates unchanged for one more month, most experts believe we are set to face a further rise some time this year. In turn, this has left many borrowers asking themselves the same questions once again. Yet while some answers - perhaps it would be better to call them predictions - are reasonably well known, others are less clear. .
Equifax Inc. at Morgan Stanley Technology Conference - Final
DHRUV CHOPRA, IT SERVICES ANALYST, MORGAN STANLEY: Good afternoon, and welcome to Morgan Stanley's tech conference. I am Dhruv Chopra, the IT services analyst for Morgan Stanley. I would like to welcome Lee Adrean, Chief Financial Officer of Equifax. We are basically going to do a fireside chat format so if you would like to ask a question please use the microphones that are on the tables. Equifax is one of three credit bureaus in the U.S. and increasingly looking to leverage data information assets to provide value added services to its clients. Lee, would you like to start off with some brief comments? LEE ADREAN, ANALYST, EQUIFAX, INC.: Thank you, Dhruv and thank you for joining us this afternoon. I would like to start and take a few minutes to describe a few key characteristics about Equifax as a business and as an investment.
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