Personal income decreased $0.1 billion, or less than 0.1 percent, and disposable personal income (DPI) decreased $0.2 billion, or less than 0.1 percent, in September, according to the Bureau of Economic Analysis.  Personal consumption expenditures (PCE) decreased $47.2 billion, or 0.5 percent.  Inw August, personal income increased $17.4 billion, or 0.1 percent, DPI increased $14.1 billion, or 0.1 percent, and PCE increased $139.8 billion, or 1.4 percent, based on revised estimates.  Real disposable income decreased 0.1 percent in September, compared with a decrease of 0.2 percent in August.  Real PCE decreased 0.6 percent, in contrast to an increase of 1.0 percent.                                                                                         2009                                                     May             June            July            Aug.            Sept.                                                        (Percent change from preceding month) Personal income, current dollars        1.3            -1.1             0.1             0.1             0.0 Disposable personal income:  Current dollars                               1.6            -1.1            -0.1             0.1             0.0  Chained (2005) dollars                   1.5            -1.6            -0.1            -0.2            -0.1 Personal consumption expenditures:  Current dollars                               0.1             0.7             0.2             1.4            -0.5  Chained (2005) dollars                   0.0             0.2             0.2             1.0            -0.6                                  Wages and salaries  Private wage and salary disbursements decreased $11.2 billion in September, in contrast to an increase of $10.1 billion in August.  Goods-producing industries' payrolls decreased $7.8 billion, compared with a decrease of $6.3 billion; manufacturing payrolls decreased $1.5 billion, compared with a decrease of $4.1 billion.  Services-producing industries' payrolls decreased $3.4 billion, in contrast to an increase of $16.4 billion.  Government wage and salary disbursements increased $0.2 billion compared with an increase of $2.4 billion.                                  Other personal income  Supplements to wages and salaries increased $0.1 billion in September, compared with an increase of $2.0 billion in August.  Proprietors' income increased $0.7 billion in September, compared with an increase of $3.4 billion in August. Farm proprietors' income decreased $1.6 billion, compared with a decrease of $1.2 billion.  Nonfarm proprietors' income increased $2.3 billion, compared with an increase of $4.6 billion.  Rental income of persons increased $5.4 billion in September, compared with an increase of $5.2 billion in August. Personal income receipts on assets (personal interest income plus personal dividend income) decreased $13.8 billion, the same decrease as in August.  Personal current transfer receipts increased $17.3 billion in September, compared with an increase of $9.6 billion in August.  Contributions for government social insurance -- a subtraction in calculating personal income --  decreased $1.4 billion in September, in contrast to an increase of $1.7 billion in August.                                  Personal current taxes and disposable personal income  Personal current taxes increased $0.1 billion in September, compared with an increase of $3.3 billion in August. Disposable personal income (DPI) -- personal income less personal current taxes -- decreased $0.2 billion, or less than 0.1 percent, in September, in contrast to an increase of $14.1 billion, or 0.1 percent, in August.                                  Personal outlays and personal saving  Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- decreased $48.8 billion in September, in contrast to an increase of $138.2 billion in August.  PCE decreased $47.2 billion, in contrast to an increase of $139.8 billion.  Personal saving -- DPI less personal outlays -- was $355.6 billion in September, compared with $307.0 billion in August.  Personal saving as a percentage of disposable personal income was 3.3 percent in September, compared with 2.8 percent in August.  For a comparison of personal saving in BEA’s national income and product accounts with personal saving in the Federal Reserve Board’s flow of funds accounts and data on changes in net worth, go to http://www.bea.gov/national/nipaweb/Nipa-Frb.asp.                                  Real DPI, real PCE and price index  Real DPI -- DPI adjusted to remove price changes -- decreased 0.1 percent in September, compared with a decrease of 0.2 percent in August.  Real PCE -- PCE adjusted to remove price changes -- decreased 0.6 percent in September, in contrast to an increase of 1.0 percent in August.  Purchases of durable goods decreased 7.2 percent, in contrast to an increase of 6.7 percent.  Purchases of motor vehicles and parts accounted for most of the decrease in September and for most of the increase in August, reflecting the impact of the federal CARS program (popularly called “cash for clunkers”).  The program, which provided a credit for customers who purchased a qualifying new, more fuel efficient auto or light truck, ended on August 24, 2009.  For further information on how the CARS program is reflected in the GDP statistics, please see the FAQ at BEA’s Web site, www.bea.gov, “How will the federal Consumer Assistance to Recycle and Save Act of 2009 (i.e., the CARS program) be reflected in the National Income and Product Accounts (NIPAs)?”  Purchases of nondurable goods increased 0.5 percent in September, compared with an increase of 0.9 percent in August.  Purchases of services increased 0.1 percent, compared with an increase of 0.2 percent.  PCE price index -- The price index for PCE increased 0.1 percent in September, compared with an increase of 0.3 percent in August.  The PCE price index, excluding food and energy, increased 0.1 percent, the same increase as in August.                                  Revisions  Estimates have been revised for July and August.  Changes in personal income, current-dollar and chained (2005) dollar DPI, and current-dollar and chained (2005) dollar PCE for July and August -- revised and as published in last month's release -- are shown below.                                                                  Change from preceding month                                                 July                                      August                                                 Previous   Revised   Previous   Revised   Previous   Revised   Previous   Revised                                                (Billions of dollars)      (Percent)      (Billions of dollars)      (Percent) Personal Income:  Current dollars                             19.4       10.4      0.2        0.1       19.3       17.4      0.2        0.1 Disposable personal income:  Current Dollars                             -2.0       -7.6       0.0       -0.1       15.5       14.1      0.1        0.1  Chained (2005) dollars                 -5.6       -10.8     -0.1       -0.1      -19.7      -21.2     -0.2       -0.2 Personal consumption expenditures:  Current dollars                             25.2       23.5      0.3        0.2       129.6      139.8     1.3        1.4  Chained (2005) dollars                 19.5       17.9      0.2        0.2       86.9       96.0      0.9        1.0  BEA’s national, international, regional, and industry estimates; the Survey of Current Business; and BEA news releases are available without charge on BEA’s Web site at www.bea.gov.  By visiting the site, you can also subscribe to receive free e-mail summaries of BEA releases and announcements.                                  *          *          *  Next release -- November 25, 2009 at 8:30 A.M. EST for Personal Income and Outlays for October.                                  -more-  ________________________  NOTE. - - Monthly estimates are expressed at seasonally adjusted annual rates, unless otherwise specified. Month-to-month dollar changes are differences between these published estimates.  Month-to-month percent changes are calculated from unrounded data and are not annualized.  “Real” estimates are in chained (2005) dollars.  This news release is available on BEA’s Web site at www.bea.gov/newsreleases/rels.htm.

Folio Investing and BetterInvesting announce an alliance to provide qualified member clubs with the ability to buy and sell securities completely commission-free in twice-daily trading 

McLean, VA, September 28, 2009 - Folio Investing and BetterInvesting announced an alliance today to significantly improve the way BetterInvesting-member clubs invest for their financial future. Under a pricing plan designed exclusively for BetterInvesting, Folio Investing will provide qualified member clubs with unlimited trades and the ability to buy and sell securities completely commission-free in twice-daily trading windows. BetterInvesting-member clubs also will have access to Folio Investing's unique portfolio trading capabilities through its exclusive Folio product.

On April 6, 2005, when testifying before the Senate Committee on Committee on Banking, Housing, and Urban Affairs, Alan Greenspan, then Chairman of the Federal Reserve Board, gave a clear warning of threats the Fannie Mae and Freddie Mac posed to the stability of the entire financial system.  He asked that the two GSEs be regulated and reduced in size.  Congress elected not to act.  That testimony follows. 

The Federal Reserve Board on Sunday announced several initiatives to provide additional support to financial markets, including enhancements to its existing liquidity facilities.

“In close collaboration with the Treasury and the Securities and Exchange Commission, we have been in ongoing discussions with market participants, including through the weekend, to identify potential market vulnerabilities in the wake of an unwinding of a major financial institution and to consider appropriate official sector and private sector responses,” said Federal Reserve Board Chairman Ben S. Bernanke. “The steps we are announcing today, along with significant commitments from the private sector, are intended to mitigate the potential risks and disruptions to markets.”