On February 8, the hedge fund Fortress Investment Group LLC (NYSE: FIG) brought a $634.29 million equity offering to market amid great fanfare at a price of $18.50 per share. Although the stock closed at $31 on the first day of trading, it has since declined to $22.69.

On June 21, private equity firm Blackstone Group LP (NYSE: BX) launched a $4.13 billion IPO, priced at $31 per share. Once again, while the initial euphoria helped push the stock to a first-day close of $35.06, it has since fallen to $26.46, significantly below the offering price.

On July 18, futures and options broker MF Global Ltd (NYSE: MF) was floated by parent Man Group PLC in a $2.92 billion offering. This time around, the shares closed at $27.55 on the first day of trading, a discount to the $30 issue price, and are currently changing hands at around $26.95 a share.

At this rate, I can't wait to see what happens with the next new issue in the financial services industry.

Michael Panzner is a 25-year veteran of the global stock, bond, and currency markets and the author of Financial Armageddon: Protecting Your Future from Four Impending Catastrophes and The New Laws of the Stock Market Jungle: An Insider's Guide to Successful Investing in a Changing World.

According to a piece by Marketwatch columnist Marshall Loeb, Americans fork over 31 billion dollars in credit card fees every single year. I don't really have a lot of commentary on this piece, but I think this is an important piece for EVERY consumer to read. Chances are that, if you have a credit card, you are paying some fees that you don't need to be. Read it here.

In addition, I just received an advertisement for a new documentary called Maxed Out, about the predatory practices of the financial services industry. It's playing in a few theaters right now, but as soon as it comes near me, I'll be going to see it. I also ordered the accompanying book Maxed Out: Hard Times, Easy Credit, and the Era of Predatory Lenders.

Are you paying more than you have to?