Wall Street bailout plan to include more than bad mortgage debt: Feds to absorb unpaid bar bets, inadvertently laundered postage stamps, unredeemed soda cans and insufficient tooth-fairy disbursements
Totally absurd? Think twice: In the dark of night over the weekend when most people were snoozing, the Treasury dramatically expanded its bailout plan to include buying student loans, car loans, credit card debt and any other “troubled” assets held by banks. The changes, which were included [more...]
Date: 2008-09-23 06:05:06
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Banks and Consumers Are the Problem, Not Bad Assets
Treasury Secretary Henry Paulson announced that he has shelved the original plan to buy troubled mortgage assets via the recently approved $700 ... loans, student loans and credit cards. This is creating a heavy burden on the American people [more...]
Date: 2008-11-14 12:14:14
Economic Eugenics
Miss American Pie bids farewell to the Working Class Jack as companies downsize, outsource, and offshore those jobs once proudly (and efficiently) ... be tedious and redundant, they didn’t look half bad on a resume. And with wages superior to Taco Bell ... . These men and women are hit especially hard. Many of these people are willing to work long hours [more...]
Date: 2009-01-08 03:32:00
Is My FDIC Insured Checking Or Savings Account Safe If My Bank Fails?
As the American and world economies endure a period of economic recession, the once stable and thriving marketplace can seem like a distant memory ... are getting pummeled for their ties to bad mortgage loans. Unable to recoup their housing mortgage ... of unrecoverable bad loans, triggering serious questions by creditors, deposit account holders [more...]
Date: 2008-07-24 09:03:13
Holiday Cheer: Reality is Not All It's Cracked Up to Be
I am currently on blog holiday, and am re-posting some refreshing concoctions from Christmases past.Life. It's deep, right? ... surrounding (i.e. Shaolin), that credit card debt and those student loans aren't mundane, they suddenly ... told, cash ruling everything around me. These geniuses accomplish the impossible: they make Staten [more...]
Date: 2008-12-29 16:00:00
Who Wins, Who Loses Under Proposed Bailout Plan?
WASHINGTON — The proposal to bail out U.S. financial markets to the tune of up to $700 billion creates a lot of potential short-term winners, ... winners, too, if the bailout works as intended: anyone soon trying to borrow money _ for cars, student loans, even to open new credit card accounts. Top executives at troubled financial institutions [more...]
Date: 2008-09-28 23:35:52
A Hint Of The Nightmare To Come
It’s Friday desk clearing time for this blogger. “For four years the Neal family called a two-family house in New Haven, home ... that really hurts people. We’ve had a lot of people say ‘We love the house,’’ but they just can’t find ... trying to sell her home. ‘It’s hard to find people who can get financing,’ said Moore. ‘It’s getting [more...]
Date: 2008-10-31 21:25:41
I Want It Now
An email from someone I respect says to take a look at today's column by David Brooks on savings behavior since the issue of adequate saving is ... up agreeing with Brooks 100% about how to address this problem, but this isn't a bad start ... mechanism that would soak up some of the demand for "payday loans" seems especially promising [more...]
Date: 2008-06-11 01:48:00
On Avoiding Student Loan Payments
Debt is a bitch and student loans have taken center stage recently as the credit crisis threatened the ability of students to get loans ... and you can go on with your life. But with student loans, you’re being punished for being a better person.” First, I’ ... . However on this day, I read a story about how some people have resorted to moving overseas [more...]
Date: 2008-11-03 15:55:55
House Valuation Workshop
Does the drop in home prices we have seen so far make the current real estate market affordable? Do prices that have dropped ten percent represent a great buying opportunity? Long-time Seattle Bubble regular Eleua takes on these questions and more with his “House Valuation Workshop,” using his native Bainbridge Island as a working example [more...]
Date: 2008-08-21 17:48:30
Six Simple Steps to Avoid Credit Problems in a Bad Economy
The New York Times ran a story today that says the next consumer crisis is credit cards — a sobering fact in a nation that has racked up massive amounts of credit card debt. Unfortunately, when times get hard, many people turn to credit cards ... this myself, buying things on credit when I had no other way to pay for them. I’m not talking about [more...]
Date: 2008-10-29 23:20:31
No bailout for now: Economy takes on some water … as it should?
Date: 2008-09-30 11:03:59
the opening of the Red Hook Ikea yesterday, Santogold and her crew were busy just a stone’s throw away on Van Brunt Street. It’s not clear what song this is for, but from the photos one guesses it has to do with pedaling a pimped-out bicycle through a cocaine windstorm, something her fanbase won't have a problem identifying with [more...]
Date: 2008-06-18 22:14:40
Some Observations on Where We Stand In the Financial Situation
By Irwin Nowick I had hesitated to make too many observations about the financial sector because it keeps on changing daily ... McCain - is now talking tough on debt instruments such as credit-default swaps and wants ... . More importantly, they are also the one’s who have problems getting loans and maintaining lines of credit [more...]
Date: 2008-09-24 04:51:03
AEI Subprime IV.3: Roubini Presentation
Here is Housing Doom’s third installment of our unauthorized annotated transcript of the American Enterprise Institute’s September 30, 2008 seminar " ... in terms of output contraction are not going to be as bad as the Great Depression because ... there much more generalized asset bubble and credit bubble in the economy. It was subprime, it was near [more...]
Date: 2008-11-17 07:01:46
Three Ways to Know When the Credit Crisis Hits Bottom
There is a growing body of data that suggests banks have recognized only a fraction of the overall potential losses - approximately $50 billion to ... t include the additional losses from secondary-prime mortgage loans, auto loans, credit card balances, student loans and the other credit-related flotsam and jetsam floating around in the debt markets [more...]
Date: 2008-12-08 13:42:23
The Poverty Business
Sorry if this appears to be an older article, and not latest headlines, just thought it was interesting - loki The Poverty Business Inside U.S ... into Byrider, Tsosie drove off, jubilant, in a 1999 Saturn subcompact she bought entirely on credit ... access to credit has put cars, computers, credit cards, and even homes within reach for many [more...]
Date: 2009-01-15 00:45:24
Want to come upstairs and see my credit score?
When should you do it? On the third date? After meeting her parents? Half-way through the first date? When it just feels right? ... . But unlike family ties, it can be nearly impossible to sever yourself from bad credit. This column ... significant other about his or her credit score probably makes you squeamish, but it’s a subject [more...]
Date: 2008-08-19 10:00:00
Indian Secularism: A status report by Shah Abdul Halim
Technorati Tags: India,Bharat,Indian secularism,Hindu religious bigotry,Muslims پاکستاان لیجر | PAKISTAN LEDGER | پاکستاني کھاتا |Sept. 25th, 08 | Moin Ansari | معین آنصآرّی | State of Indian Secularism Shah Abdul Halim I am a Muslim, I cannot help my tears; I have gone through fifty nine long years, Suffering pangs of hunger, [more...]
Date: 2008-10-09 03:19:03
The First To Fall And The Last To Rise
The Manteca Bulletin reports from California. “In the go-go days of stratospheric housing price increases some newer neighborhoods - such as Woodward Park, Diamond Oaks, and Villa Ticino - were seeing prices jump as much as $5,000 a month. Now those neighborhoods have returned back to earth as closed deals so far this month signal that banks are [more...]
Date: 2008-10-11 18:59:11
It’s Your Money
It was, anyway. Remember when you had some? Dow plummets on opening, Wall Street rout drags everyone else down. Look on the bright side ... the credit markets more quickly via capital infusions from the Paulson facility. And unlike the Paulson ... that the Treasury could receive some kind of equity kicker in the refinance. Thus a homeowner [more...]
Date: 2008-10-10 13:45:35
Bail Me, Stimulate Me
In a week that signaled much worse is coming, perhaps the more dismal indication on the financial front was that Democrats finally had a chance to ... the kind of behavior that got us here: more bad loans to the wrong people won't en our crisis; they make ... . If that sounds bad, it shouldn't; this week's debate on TARP had essentially the same contours [more...]
Date: 2009-01-16 20:24:10
A HUGE Currency Rally!
Gaza bombing has dollar on the run… More proof we’re turning Japanese… Adding to the debt burden… What will deflation do for the dollar? ... they’re just going to get worse, and that spells bad times for the dollar… Eventually… I did a lot ... to dig the economy out of recession, said Akio Mikuni, president of credit ratings agency Mikuni &amp [more...]
Date: 2008-12-29 15:45:39
Financial Clarity: The First Step to Eliminating Debt
We hear about it all the time on the news, the economy is in a downturn, a slump, a recession, a depression. Job lost is at an all time high ... credit card debt, student loans, car loans, and the money you borrowed from Uncle Charlie last year ... . People are losing their homes. People are scared. Just writing about it makes me feel scared. Oh [more...]
Date: 2009-01-08 02:07:51
Emotional, financial and legal advice on surviving redundancy
Keep calm Remember you're not alone Redundancy can be a devastating, sometimes brutal, experience but it's not your fault ... the credit crunch in your own backyard," says Phillip Hodson, a fellow of the British Association ... way as due to the western economic cycle, the bastard in charge of hiring and firing, or bad luck [more...]
Date: 2009-01-08 14:45:20
That First Taste of Financial Success
wendy3 About a month after I hit bottom in terms of my debt, I sent in a large payment on one of my credit cards, ... off the rest of my credit cards, to pay off our car loans, to pay off my remaining student loans ... s been tasty all the way along. A lot of people like to criticize Dave Ramsey and his “Total Money Makeover [more...]
Date: 2008-10-21 14:00:52
Mortgage Rates, Scary Jobs Details, Investing in 2009, Russian Gas Dispute, and More!
by Addison Wiggin & Ian Mathias Mortgage rates plunge to record lows… but are they at the bottom? ... of the credit crisis. “That’s bad,” Byron King somberly explains. “We already have an aging work force ... to 2009… how to invest amid rife market manipulation If you’ve got money, credit and patience [more...]
Date: 2009-01-08 01:36:29
Consumers deserve greed bailout
When a college student who has just run out of money and maxed out her credit card gets that bailout from dad, what's the first thing she does? ... its plastic on the table and said, "Put it on my credit card." Banks, you see, recently cried "Uncle ... to a depositor who dipped 78 cents into the red when buying a hamburger with a debit card. The same [more...]
Date: 2008-09-19 17:05:27
Wells Fargo Forces You To Pay Off Loans Costliest Way Possible [Wells Fargo]
According to reader Caleb, Wells Fargo seems to have recently crippled their loan repayment system in a way that makes it impossible for borrowers ... -interest student loans. Not So. Like many people in my position, I went deeply into debt in order ... . I took my student loans through Wells Fargo, which, in retrospect, was a bad move. My loans [more...]
Date: 2008-08-26 18:43:15
Unforeseen Repercussions All Around In Florida
The Palm Beach Post reports from Florida. “Here in the eye of the nation’s financial storm, the Fed sits motionless, ... plenty of money’ in an equity loan.” “Silver said she wishes the Fed would cut rates and lenders would relax loan standards to boost home sales. But she is not optimistic for the short term. No matter [more...]
Date: 2008-08-07 14:10:02
Nouriel piles on
Has Nouriel Roubini ever been on CNBC? That question just came to mind as he rattled off the many reasons why financial markets are likely to get ... , it was prime, it was home equity loans, it was CDOs, it was MBSs, commercial real estate, credit cards, auto loans, student loans, leveraged loans, corporate bonds, muni bonds. You're liable to end [more...]
Date: 2008-09-15 04:00:00
For the Class of 2009, job prospects appear grim. As an employment alternative, which is better: heading straight onto grad school, ... , may be better solutions.The Case for and against Grad SchoolIn any economy, both good and bad ... school also will allow you to defer loans, and may offer more affordable health insurance options than [more...]
Date: 2009-01-09 18:10:43
Gates of Vienna News Feed 10/5/2008
USABailout Bill Loops in Green Tech, IRS SnoopingCrowds Again Gather to Pray Before Image in WindowElection Precinct in Islamic Center That Hosted Extremist’s VisitMilitant Obama Youth March to ‘Alpha, Omega’ ChantN.Y. Times Whitewashes Obama-Ayers ConnectionRacism Without Racists Europe and the EUExtradition Bid Raises Fears of ‘Thought Crime’ [more...]
Date: 2008-10-06 00:49:00
Paulson Flails About With His TARP
Yesterday, Treasury Secretary Henry Paulson announced that the Treasury Department has altered the way in which it is going to ... non-bank institutions that securitize credit card, auto and student loans.” As Matthew Yglesias ... most effective thing we can do to help homeowners, the American people, and stimulate our economy.” [more...]
Date: 2008-11-13 21:30:53
Banks are starting to capitulate; Hedge funds are buying up delinquent mortgages, positive steps toward accelerating price drops.
Over the past year the major investment banks that basically poisoned themselves by drinking there own koolaid are starting to finally write the bad loans it written down and mark to market.Last Friday the national Australian national bank did ... the assets. Now I do not believe all CDO’s and MBS’s are this bad. But it is a precedence [more...]
Date: 2008-07-31 13:52:00
How Could You NOT Talk About It?
Everywhere in the blogosphere you’ll see people writing about finances and couples. The advice is the same, to be honest, etc. Here’s the thing ... on some of my ideas for fixing stuff. Usually he’s got an idea of what stuff costs and his own ideas about what he’ ... about my credit card debt about 8 years ago. Even then, that boyfriend wheedled it out [more...]
Date: 2008-11-18 14:33:33
How to Find the Right Mortgage
by katie George A mortgage that is properly suited to an individual’s needs when buying a home can save the individual thousands while a mortgage ... be considerably more or less by the end of the mortgage. Individuals who have no or bad credit ... one is the right one. First one needs to understand the different options available to them. For people [more...]
Date: 2009-01-07 00:31:19
Gates of Vienna News Feed 10/8/2008
As of tonight the news feed has been up and running every day for three months (except for when I’ve been away).I’ve received a few complaints about it. Some readers don’t like to have to scroll through the headlines to get to the good stuff, and others don’t want me to waste space on American news stories which are being covered thoroughly [more...]
Date: 2008-10-09 03:43:00
Five Things That a Generation X Financial Planner Did, That You Can Too
This is a guest post from Jeff Rose, an Illinois Certified Financial Planner(TM) and co-founder of Alliance Investment Planning Group ... student loan and credit card debt at ease. Luckily, I stumbled into a career as a financial ... students graduate with a combination of student loan and credit card debt. Most of us are just kind [more...]
Date: 2009-01-14 15:45:19
Small Business Money Terms
entrepreneurs raise at least part of the capital for start-up and operating expenses by asking friends and family and previous business colleagues to ... be the most enthusiastic person in the world when it comes to your business, many people will want ... ; but most people will want to know that you’re willing to risk some of your own assets before [more...]
Date: 2008-11-10 19:48:44
What Is My Credit Score and How Is My FICO Calculated?
If you’re like most people out there, there’s inevitably going to come some point in your life when you’ll need to apply for credit and seek out ... prospects like mortgage loans either - even routine applications for things like credit cards, checking accounts, auto loans, and even new jobs are undergoing greater credit worthiness scrutiny. Both [more...]
Date: 2008-07-08 03:19:44
Obama's Speech
Available in full after the jump ... Just a graph in, by the way, he salutes Hillary Rodham Clinton. Remarks of Senator Barack Obama “The American Promise” Democratic Convention Thursday, August 28th, 2008 Denver, Colorado As Prepared for Delivery To Chairman Dean and my great friend Dick Durbin; [more...]
Date: 2008-08-29 03:19:20
Obama’s Full Speech
This is it folks… +++++ To Chairman Dean and my great friend Dick Durbin; and to all my fellow citizens of this great nation; With profound gratitude and great humility, I accept your nomination for the presidency of the United States. Let me express my thanks to the historic slate of candidates who accompanied me on this journey, [more...]
Date: 2008-08-29 01:49:29
Carnival of Debt Reduction #151
Welcome to this week’s Carnival of Debt Reduction! Since this is Carnival #151 here’s a debt reduction example based on a credit card payment of ... your debt snowball. This list is a good way to ease into saving money and spending less. No Credit ... rate might give the biggest return on investment of all!) Credit Withdrawal talks about getting [more...]
Date: 2008-08-04 08:35:02
PFBlogger Spotlight: Green Panda Treehouse
What color is US currency? It’s green. What’s one of the most content creatures on the planet? Well, one of them is a panda ... of it. I got a credit card in college and like many of my friends, I charged on it like crazy ... some of my friends (who would return the favor and use their credit card next time). I also thought [more...]
Date: 2008-08-07 16:28:03
A Hazardous Student Loan Bailout Plan
If you haven't heard yet, Treasury Secretary Henry Paulson quietly inserted a provision in his $700-billion bailout plan designed to come to the ... available, it appears that the proposal would not only focus on federal student loans but would ... private student loan practices they engaged in by pushing high-cost private loans on high risk [more...]
Date: 2008-09-24 18:17:00
Pocket Profile: The Finance Buff
This week we spoke with The Finance Buff. His blog was named the Best Finance Blog for People Ready to Save or Invest by the CEO of Wesabe ... percentile! Credit Card Debt: None. Top percentile! What are your two favorite financial products? Why ... : Greater than 90% of Americans. Rent/mortgage: 34% of Americans pay more in rent. Credit Score: Don’ [more...]
Date: 2009-01-15 17:07:27
Lessons from the Great Depression
From The New York Times: In 1929, Meyer Mishkin owned a shop in New York that sold silk shirts to workingmen ... made by the banks were going bad — or, in some cases, were rumored to be going bad — and nervous ... t easily get credit. It takes a while for this to become obvious, since most companies and households don [more...]
Date: 2008-10-02 12:03:00
Speeches, speeches... including Barack Obama's
(NOTE: The live blog of the events at Invesco, along with photos, video, and my personal thoughts are here. ) And the pull quote, a very public one that he could have easily left out because of the red meat the Republican Sexual Hypocrites love to chew on:I know there are differences on same-sex marriage, [more...]
Date: 2008-08-29 00:59:12
Emergency Fund: Start It NOW
an-empty-pocket.JPG Photo credit: stuartpilbrow Is it OK to spend money on luxuries during the recession? HeatherB of BlogHer does ... a recession even if you think your job is “safe”, does not mean losing your home, racking credit card debt, or tapping into your retirement account. Once you get on the credit-card-debt path, it’ [more...]
Date: 2009-01-08 02:10:30
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