Time for a Taxpayers Revolt
Congress will be voting this week on the biggest give-away of our tax dollars to the financial sector in our nation’s history ... , many are skeptical as to whether the bailout will even restore confidence – and credit – to the banking system. As one report notes, “Doubts remain as to how it could immediately thaw the frozen money [more...]
Date: 2008-09-29 01:05:28
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RCDL Weekly Roundup - Be Prepared to Get Stuffed
Thanks for joining us here at RCDL for another weekly roundup ... reading pleasure. Retirement My Dollar Plan talks about self-employment and Opening a New Solo 401k ... : What Not To Do Banking, Credit, and Debt: Digerati Life writes Keep Your Money Safe: Online Bank Accounts [more...]
Date: 2008-11-23 13:31:06
USING PASSWORD RECOVERY SOFTWARE FOR MS OFFICE
by Albert Von McZeally Albert Michael McZeally Alvin McZeally Alice McZeally Most of us these days have been wakeful of a actuality that a ... in to a wrong hands. Anyone who keeps monetary report such as credit label or bank comment numbers ... electronic interpretation is not safe. Anyone upon a web with a small expertise could entrance [more...]
Date: 2009-01-15 09:55:01
State AGs to Obama: Curb Federal Pre-Emption
The number one legal priority for business, we've been hearing for the last few years, is federal pre-emption ... is especially important, the paper states, as legislation is crafted to handle the credit crisis ... banking laws "contributed significantly to the ongoing mortgage and credit disasters at the heart [more...]
Date: 2009-01-13 21:24:42
Bank Stocks: the New Troubled Assets
Oh, what a relief it hasn’t been. Ever since the government’s $700 billion rescue package for the financial industry cleared Congress in early ... Street’s continued struggles in recent days. Opinions on how best to use the remaining TARP money — ... proposal to use the TARP strictly to buy hard-to-value credit instruments off of banks’ books [more...]
Date: 2009-01-14 11:44:00
Credit Drying Up For U.S. Small Biz
Reuters: As losses mount at American banks and the pain of the credit crisis spreads from housing and finance to the broader economy, many small companies complain it is increasingly difficult to obtain loans. Tighter credit could ... Development Center in Texas. “They are demanding higher credit scores and want more collateral before [more...]
Date: 2008-07-29 14:07:46
Bank Worries Heighten Credit Fears
The renewed concern about the futures of the nation’s largest financial institutions is working its way into short-term lending rates and key ... late November. In action Thursday, swap spreads, a measure of credit risk, have widened out, along ... % about three months ago. In addition, credit-default swap indexes tracking corporate and [more...]
Date: 2009-01-15 09:15:00
Market Gains Don't Impress Stockbroker Photos [The Panic Of '08]
Asian and European stock markets are posting gains of 4 to 10 percent this morning thanks to a coordinated effort among ... was aimed at the wrong target. Purchasing mortgage securities from banks wouldn't do anything to kick-start lending and get credit flowing again, they said. Rather, banks would use the proceeds [more...]
Date: 2008-10-13 12:20:58
Citibank Declares 30-Day Payment Holiday to Philippine Customers
For the first time since it has had a presence in the Philipines, Citibank (NYSE:C) has declared a 30-day payment holiday for it Citibank Savings personal loan borrowers, as well as those holding credit cards with the bank who live in the Philippines. This was in response to Tropical Storm “Ondoy,” which has wreaked havoc in the country, disrupting the lives of many people in the region, especially highly populated urban areas like Manila. [more...]
Date: 2009-10-01 16:02:11
How I beat the market
For my first job out of college, I was hired as a fund manager. Sort of ... and community-based banks and S&Ls. Certificates of deposit with community development credit unions ... , I would contact the banks, requesting their latest CRA statement -- the legally required report [more...]
Date: 2008-11-17 00:25:51
Beware: Scammers Impersonating KIA Offer Fraudulent Job Opportunities
.fullpost{display:inline;}Every day con artists look for new ways to scam internet users from their money ... that could result in identity theft or possibly the misuse of bank and credit card details. Gary Tomlinson ... was not caught out, but this is a particularly callous attempt at fraud as it hits people desperately looking [more...]
Date: 2009-01-08 16:39:00
If Your Kid Loses His Wallet...
A picture of a wallet. In addition to a driver's license, teens today carry many of the same things adults carry in their wallets: credit cards, ... alert on your accounts. Report the loss to the fraud department at your bank. Review your credit ... need to know what to do if their wallet or purse is lost or stolen — and they need to act quickly [more...]
Date: 2009-01-16 05:45:56
When you should use a credit repair agency.
Credit has become a very important part of peoples live in todays age. If you have bad credit you are familiar with having closed doors to loans, bank cards, credit cards, car financing and mortgages. Now all is not lost and you have the option to start fixing your credit. [more...]
Date: 2009-09-29 18:23:10
When you should use a credit repair agency.
Credit has become a very important part of peoples live in todays age. If you have bad credit you are familiar with having closed doors to loans, bank cards, credit cards, car financing and mortgages. Now all is not lost and you have the option to start fixing your credit. [more...]
Date: 2009-09-29 18:23:10
Bank Bailout Puts Taxpayers At Risk
ABC News' Betsy Stark reports: It all feels less frantic than the government's rescue of the financial system a couple of months ago -- and we can ... , it is reasonable to expect more loan defaults on everything from mortgages to credit cards. And if banks are forced to use their cash to cover losses rather than make loans, well, how does the [more...]
Date: 2009-01-16 19:01:22
Credit Crisis Sequel, Global Bank Bailout, Emerging Markets Still a Buy?, Gas Wars and More!
by Addison Wiggin & Ian Mathias Ghosts of the fourth quarter haunt global financials… so begins the second act of the credit saga Even the ... -Ukraine gas dispute not yet over… a reader provides firsthand account And… action ... $30 billion to stay afloat, analysts at Morgan Stanley predicted today. According to Morgan’s report [more...]
Date: 2009-01-14 07:36:46
Sleeping With the Enemy: The Retirement of Special Agent Bill Kowalski
By Debbie Schlussel This past Friday, the FBI celebrated its 100th birthday. As I noted then, it's not cause for celebration ... officials why her husband was in jail because of "credit card problems." She said he was arrested after ... --both Elahi congregants--were later indicted for credit card, bank, and mortgage fraud in a scheme [more...]
Date: 2008-07-30 18:37:13
Bernanke Casts Doubt on Stimulus, Says Fed May Buy Toxic Assets to Loosen Credit
Warning that the timing of an economic recovery is “highly uncertain,” Federal Reserve Chairman Ben S. Bernanke said yesterday (Tuesday) ... about the continuing chokehold banks have put on credit to companies and households than he is about offering ... of the economy where liquidity has dried up for “credit easing”, reported the Guardian. “Credit sprea [more...]
Date: 2009-01-14 14:57:59
Credit Crisis Watch: Gaining Positive Traction
In order to gauge the progress being made to unclog credit markets and restore confidence in the world’s financial system, ... in this “Credit Crisis Watch” review, one can ascertain to what extent the various central bank liquidity ... of the credit crisis in August 2007. 14-jan-1.jpg Source: StockCharts.com Importantly [more...]
Date: 2009-01-14 13:30:49
Is The Inflation Scare Over Yet?
Treasuries have been on a bit of a rally recently as the Lehman iShares 20+ year duration treasury fund (TLT) chart shows ... of credit via massive writedowns in banks and financials, accompanied by sharply rising unemployment rates, falling wages, and curtailment in credit lines everywhere is simply not an inflationary [more...]
Date: 2008-06-27 00:51:36
Paris Hilton Web Site Hacked: ParisHilton.com Virus
Paris Hilton’s been infected. It was only a matter of time ... viruses, that then tries to obtain login information to their online bank accounts. “Some parts of Paris ... to access your computer and get bank records and credit card numbers,” Garry Scott, a spokesman [more...]
Date: 2009-01-15 02:27:13
TARP Money Funneled to Jesse Jackson Fundraiser
by Jim Kouri, CPP TARP Inspector General Asked to Investigate Citigroup and Bank of America Donations to Rainbow/PUSH; ... is one of two of Jesse Jackson's annual fundraisers. According to official conference materials ... to our economy. The stated goal was to unfreeze credit so that banks can make loans to businesses [more...]
Date: 2009-01-16 13:55:08
Credit Crisis Sequel, Global Bank Bailout, Emerging Markets Still a Buy?, Gas Wars and More!
Ghosts of the fourth quarter haunt global financials… so begins the second act of the credit saga… Even the IMF needs a loan… $150 billion to back ... and notprofitable) segments of the business. Robert Rubin, who among other things helped create this “ ... predicted today. According to Morgan’s report, profits at HSBC will decline “sharply” this year [more...]
Date: 2009-01-16 15:28:24
Headline News - September 29, 2009
U.S. Bank Introduces Downloadable Mobile Banking Application Bling Nation - La Junta, Colo. Embraces Mobile Payments The Red Tape Chronicles - MSNBC.com: Consumer groups blast banks' card 'tricks' CashEdge Signs First Round of Banks for Popmoney™ New Javelin Report: Multi-Channel Authentication Via Mobile Banking US News and World Report: Credit Card Fees: 5 Things You Should Know Alaska Option Joins Acculynk Internet PIN Debit Pilot Transaction Wireless Signs AMC [more...]
Date: 2009-09-29 11:31:08
Looks like another financial tsunami is coming!
Photo by Faces of California Photo by Faces of California The deterioration in economic and corporate data continues ... is declining in value) as customers cancel orders. Bank and other supplier credit lines are being cut… ... into Q4-2008. Now its being hit by exposure to Madoff. I just read a research report from a large [more...]
Date: 2009-01-15 04:05:14
take it on the chin
I am a firm believer that Ignorance and freedom is incompatible ... of a financial market stabilization act – this time, 450 pages of feces. Fuck bailing out banks, although ... like me to keep them, and the steady stream of mortgage payments going to said banks. Too much credit [more...]
Date: 2008-10-02 12:56:00
Gore Addresses Delegates as Climate Change Conference Closes
cop14_gore.jpg Given an unprecedented and still unfolding crisis in banking and credit markets, ... by including them in the Kyoto Protocol's Clean Development Mechanism carbon credit system ... change continues unabated, according to a report from the International Institute of Sustainable [more...]
Date: 2008-12-13 15:05:39
When Will That Bailout Money Trickle Down Exactly?
A small Chicago windows manufacturer that laid off all its workers after Bank of America cut off funding has become ... is a high-profile example of the growing backlash against banks for continuing to deny credit to many ... t necessarily change their plans,” wrote BusinessWeek bureau chief Dean Foust recently. Citigroup [more...]
Date: 2008-12-09 09:20:00
What does Paulson want?, the "Cliff Notes"
Reuters published a handy summary of Paulson's bail out proposal along with the counterproposals by Democrats and Republicans : ... but not limited to banks, thrifts, credit unions, broker-dealers and insurance companies. If deemed need(sic ... the secretary's decisions. The secretary would report to Congress within the first three months and then twice [more...]
Date: 2008-09-23 13:17:49
EU Proposes Kicking Banks When They Are Down?
Bloomberg did not report this story in enough detail to be certain, but as it reads, ... (or have decided to clean up their act if they misbehaved) and have a realistic chance of pulling through ... , asking banks in a credit crunch to increase their capital (not to fill shortfalls, but by imposing [more...]
Date: 2008-10-01 12:29:04
I don't get Facebook
That’s not entirely true. I get the whole “portal” concept, which has been around for a while ... authentication for email, instant messaging, blogging, and photo sharing — though Google is making its own ... password logins exclusively. So do most banks and credit card companies. So does PayPal. So do most [more...]
Date: 2009-01-13 12:48:00
Biden Helped to Create the Foreclosure Crisis
There a many elements that help create the present foreclosure crisis, usually it is attributed to things like balloon mortgages, the falling dollar, ... bankruptcy law. That conclusion is echoed by other experts, although the banking and credit industry disputes it. Congressional Republicans drove the effort to pass the Bankruptcy Abuse Prevention [more...]
Date: 2008-08-28 17:29:15
IVR (Interactive Voice Response) - A Brief Explanation
IVR (interactive voice response) is a telephony technology that allows users to interact with a database through phone keypad or voice commands ... to do things like check bank balances, manage credit cards, check for store hours or locations, or order ... hours. IVR systems are also used to report non-emergency problems to cable or utility services [more...]
Date: 2009-01-17 04:48:05
Bank turmoil windfall for fraudsters
The ongoing market carnage has given rise to a huge phishing boom, security experts say ... an e-mail, into surrendering private information such as password, credit card and bank account numbers with the object of fraudulently using them. The US Federal Trade Commission (FTC) has issued [more...]
Date: 2008-10-14 04:54:02
China Faces Liquidity Crunch
Despite China's seeming economic might, it was only a few years ago that the hidden losses in among its banks were a frequent subject of discussion in the Western press. Indeed, in 2006, Ernst & Young hastily withdrew a detailed report ... to the background. Those concerns may be coming to the fore again as the credit crunch hits China, and banks [more...]
Date: 2008-11-03 22:08:52
Budweiser Goes to InBev
After a month-long drama, Anheuser-Busch, makers of the world-famous Budweiser beer, has been taken over by InBev NV, ... facing a credit crunch. Second, even if banks have become extra careful in their financial ... us understand our past, improve the present, and prepare for the future. Check out the Charlie Rose [more...]
Date: 2009-01-16 22:50:20
One Way to Protect Against Identity Theft
When information gets stolen, it is used in various ways. Sometimes the thief may use it to drain your bank account, for example ... will not extend credit without first pulling a consumer’s credit profile. If you place a “security freeze” on your credit profile, the reporting agencies are prohibited from releasing your credit [more...]
Date: 2008-09-22 21:10:55
Axing the Amazon
Posted for Anna Barnett They sent in police. They seized illegally grazing cattle. In an environmentally friendly credit crunch, they cut bank loans to farmers who don’t comply ... to this: AP notes that the apparent rise falls within the satellite survey’s margin of error [more...]
Date: 2008-12-01 16:36:07
A Rare Bank Without Defaults
No Credit… No License… No History? No Problem? Even before our current mortgage meltdown, ... of loans - all to customers who have no credit history, zero credit scores, no drivers license and nothing ... default on a loan. And that’s thousands of customers over a 20-year period. How can this possibly [more...]
Date: 2008-12-19 20:22:33
Smash and grab thieves strike Pasco parents - again
LAND O???LAKES -- Thieves that target purses inside vehicles parked at day care centers appear to have returned, ... their children inside, then they smash the window, steal a purse and flee. They hand off bank and credit cards ... for information that leads to the identification of a woman who fraudulently used a credit card [more...]
Date: 2008-12-11 22:01:03
Actually -- There Is A Credit Crunch
Recently the Minneapolis Federal Reserve Issued a Paper titled, "Facts and Myths About the Financial Crisis of 2008 ... data." So - who is right?Information contained within the Minneapolis Fed's report casts doubts ... . They look at total bank credit outstanding, total loans and leases, total commercial and industrial [more...]
Date: 2008-12-19 15:30:00
25+ Tools For Accounting and Budgeting
There are a growing number of online services dedicated to helping users manage their finances ... to be a more streamlined, less labor intensive accounting system for small businesses in an attempt to free ... your different accounts from banks and credit cards, lets you budget and also lets you do shared [more...]
Date: 2008-08-14 20:05:40
Kroszner: CRA & the Mortgage Crisis
Sayeth the man: “Some critics of the CRA contend that by encouraging banking institutions to help meet the credit needs of lower-income borrowers and areas, the law pushed banking institutions to undertake high-risk mortgage lending ... . I will also discuss the findings of a recent analysis of mortgage-related data by Federal Reserve [more...]
Date: 2008-12-03 16:53:15
More Important Than Lipstick, Take 3
by hilzoy From the NYT: "Tracey Minda needed cash to buy clothes and school supplies for her 6-year-old son before the 2006 school year ... , banks and credit cards remain in business. I wonder how? According to this CBS report ... her debt. Ohio lawmakers sought last spring to aid borrowers like Ms. Minda by capping annual [more...]
Date: 2008-09-13 04:07:30
Things I Learned When I Refinanced My Home
Some days I feel like a home refinancing expert. I’ve refinanced my home twice in the last three years to take advantage of attractive interest ... , I called my local banks, credit unions, and savings and loan companies. I also checked interest rates on the Internet. One year later, while checking on the Internet I found a rate of 4.375 percent [more...]
Date: 2009-01-15 01:31:07
Banks Increase Lending Standards Across The Board
credit card sign The July 2008 Senior Loan Officer Opinion Survey on Bank Lending Practices released by the Federal Reserve describes a lending ... free to click on the above link if you want those (or you can read Mish’s blog post--he does a great job of summing up this report), but I do want to make the point that these numbers [more...]
Date: 2008-08-12 15:54:31
Wall St Tumbles on Bank Woes, Consumer Gloom
Indexes drop 3 percent; All 30 Dow stocks lower… Financials lead slide on outlook concerns… Dec retail sales fall signals spending contraction U.S. stocks tumbled on Wednesday as investors feared more credit losses in the banking sector, while bleak December retail sales compounded worries about the toll on consumers from the deepening [more...]
Date: 2009-01-14 17:45:00
Friday morning links
TOP STORIES Vast Bailout by U.S. Proposed in Bid to Stem Financial Crisis - NY Times SEC bans short-selling of 799 financial stocks - AP Fed to Help Meet Fund Redemptions, Buy Agency Debt - Bloomberg Citigroup considering bid for WaMu: report ... bank, borrows to aid market - AP INTERNATIONAL Central Banks Add $71 Billion to Ease Credit [more...]
Date: 2008-09-19 12:51:00
Maria Ramos’s move to Absa a blow to government
SOUTH Africa’s public sector has lost one of its brightest stars as Maria Ramos quits to head up banking group Absa. She will take over from Steve Booysen as the banking sector battles against credit crunch ... minister is my partner but I’m a professional person… I will report to the board as I have done [more...]
Date: 2008-11-22 05:38:40
Credit Crunch Damage to Banks So Far = $500 Billion
This Bloomberg piece, "Banks' Subprime Losses Top $500 Billion on Writedowns" has some sloppy writing, ... estimates of expected "losses" from the credit crisis. Similarly, other computations have focused ... and the ensuing credit crunch crossed the $500 billion mark as writedowns spread to more asset types [more...]
Date: 2008-08-12 21:46:37
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