A sister who sued her brother and his brokerage firm won a $608,000 arbitration decision last month in a case that alleged, among other claims, churning of highly volatile stocks in the weeks leading up to the market collapse of September 2008. Three Finra arbitrators awarded investors Diana Hojecki, along with her husband, James, $343,000 in compensatory damages, $15,000 in fees and punitive damages of $250,000. Winning such large punitive damages is a rarity in such arbitration cases.

MBIA Inc. said on Monday that its asset management unit will function as a separate operating company, a move that sent shares of the bond insurer higher in midday trading. The unit, now known as Cutwater Asset Management, will operate under the parent’s umbrella as a separate company focused on managing bond investments, MBIA said.

City Prescribe Stricter Fiscal Tightening to Hit Debt Targets Feb 8, 2010 Lynn Bird The Institute for Fiscal Studies stated in their February Green Budget Report whoever forms the next British government will have to take “more ambitious” measures to reduce public spending than currently set out in the Treasury’s 2009 Pre-Budget Report. The IFS report warns against austerity measures in the form of tax increases or public spending cuts for 2010 but predicts even with the modest growth forecast in the PBR, public finances could face budget restrictions for the next two parliaments. Fiscal Forecasts In a Financial Times interview in January Chancellor Alistair Darling defended the 2009 PBR against opinion that suggests the report did not go far enough in addressing public spending issues

James Cameron’s Oscar competition 01:50 James Cameron’s Oscar competition AP Video Monday, Feb. 08, 2010 09:56AM EST ‘Avatar’ director James Cameron reckons his ex-wife, Kathryn Bigelow, is his biggest competition for the Best Picture Oscar with her movie, ‘The Hurt Locker

There are a number of reasons why an ETF (exchange traded fund) can be a safer and more cost-effective investment than a mutual fund or a portfolio of individual stocks. ETFs are a quick and easy way of creating a diverse portfolio. Investments in ETFs can cover a wide range of options in a number of sectors, locations and classes of assets, as well as different investment strategies

Earnings Preview 2/5/10 While the bulk of earnings reports are in, there are still many to go, and next week we still have a heavy earnings calendar with a total or 462 firms scheduled to report. Some of the more noteworthy firms reporting are New York Times (NYT), Allstate (ALL), Walt Disney (DIS), Prudential (PRU) and Pepsico (PEP). Unlike the last two weeks, the economic data calendar is relatively light.