Senator Schumer A Champion Of Real Progressive Health Care Reform

It was only a few months ago that Roatti authored a post arguing that Senator Chuck Schumer should be the majority leader of the U.S. Senate. In the comments of that post, I made the case against it. I did so for a number of reasons, namely Wall Street and the connections Schumer has there plus some of his past votes (i.e. Iraq War) that weren't very progressive. I won't let one issue change my mind, but I will give credit where credit is due. [more...]

Date: 2009-10-01 20:46:15

Blog posts (819) | Videos (799)
 

How’s “Cash for Castles” Doing? – Analyst Blog

The $8,000 tax credit for first-time home buyers is going to expire on November 30th. People have to close by that date, which means they really have to agree to buy within the next few weeks. The housing market has begun to rebound a bit, and the tax credit has been part of it. So should Congress extend, or even -- as some are advocating -- expand the program? My answer would be no, certainly no to expansion. [more...]

Date: 2009-09-22 21:02:49

Credit Card Fraud–How to Protect Yourself

This is a guest post by Bill Hardekopf, CEO of LowCards.com . This week, Albert Gonzalez was charged with involvement in the biggest case of credit/debit card data theft in United States history. Federal prosecutors allege that he was part of a group of hackers that seized access to 130 million credit and debit accounts. This is a startling number and a good reminder of the importance of protecting account information. [more...]

Date: 2009-08-20 18:57:27

Daily Credit Summary: October 1 – Risk Off

Zero Hedge Spreads widened significantly amid very negative breadth once again today as risk appetite was clearly shifting today with TSYs rallying strongly, dollar safe-haven status reappearing, HY underperforming IG, and credit and equity risk premia rising. IG12 saw its biggest close-to-close widening since 04/20 (absolute) and 02/17 (percentage!) as VIX and swaption vols both rose significantly on the day and single-name activity was its highest (at 71% moving more than 3bps) in over three weeks. [more...]

Date: 2009-10-01 23:08:11

"The Largest Credit Contraction in History is Here"

"There was a report from Mish’s Global Economic Trend Analysis * who in turn was commenting on a report from Martin Weiss who publishes research at his Money and Markets site. Weiss takes a look at the Flow of Funds report for Q1 published by the Fed. Weiss’s conclusion: The first quarter brought the greatest credit collapse of all time. Open Market Paper: Instead of growing as it had in almost every prior quarter in history, it collapsed at the annual rate of $662.5 billion. [more...]

Date: 2009-07-12 01:58:00

Miss Singapore World Ris Low Resigns

Miss Singapore World 2009, Ris Low has given up her crown just days after her past conviction for credit card fraud was exposed. She had come under public pressure to be stripped of her 2009 title, after local media reported she stole seven credit cards last year, buying goods about S$8,000 ($5,662) including lingerie, gold anklets and phones. According to the organizer, Ris Low will no longer represent Singapore at Miss World 2009 in South Africa, but her replacement has not been finalized yet. [more...]

Date: 2009-10-01 15:31:06

Would You Like To Find Out How Airmiles Creditcard Can Help You Fly For Free!.

In the midst of the growing costs of airfare, the having a airmiles credit card that earns airmiles with purchases appeals to several people. Both American Express and Discover own such products. Any product spoken about in this commentary has an online application form, which helps speed your way into enjoying an air miles credit card. American Express airline rewards programs include such features as: The ability to earn travel miles on all you buy with the Card. [more...]

Date: 2009-10-02 00:15:12

What to do if you’ve been turned down for a loan

Turned Down For a Loan?  Improve Your Loan-Ability! This article was written by Becky House, Education Manager for American Financial Solutions. For more information about credit scores, budgeting or managing your debt, visit MyFinancialGoals.org or contact Becky at 1.800.894.3946. Two years ago, someone with a 600 (poor) credit score could qualify for a mortgage or car loan. Now, reputable lenders will not even consider lending to someone with a score below 700. [more...]

Date: 2009-09-26 14:37:00

Mortgage Refinance With Bad Credit Options: Reveal All The Hottest Tips Here!

by Asem Eltaher Among the top ten hot topics of 2008-2009 is the relief for homeowner’s high mortgage payments. Foreclosures at an all-time high and many are getting further behind each month creating a large market for mortgage refinance with bad credit. The Mortgage Banker’s Association states the newest information on foreclosures shows the decline is still pacing downward. The percentage of homeowners facing default can rise higher by 2011, if relief is not available. [more...]

Date: 2009-10-01 09:00:20

Dem Lawmaker Hits Credit Rating Firms With Collective Liability, Sparking Industry Protest

(ChattahBox)— Congressional lawmakers yesterday, focused on the much needed overhaul of the credit rating agencies, which played a major role in the collapse of the overrated subprime mortgage securities that caused the economic crisis last fall. Rep. Paul Kanjorski (D-PA) proposed a bill to address the accountability problems of the ratings agencies, by imposing collective liability for any improper ratings issued by competitor agencies. [more...]

Date: 2009-10-01 15:46:15

What to do if you’ve been turned down for a loan

Turned Down For a Loan? Improve Your Loan-Ability! This article was written by Becky House, Education Manager for American Financial Solutions. For more information about credit scores, budgeting or managing your debt, visit MyFinancialGoals.org or contact Becky at 1.800.894.3946. Two years ago, someone with a 600 (poor) credit score could qualify for a mortgage or car loan. Now, reputable lenders will not even consider lending to someone with a score below 700. [more...]

Date: 2009-09-26 14:37:00

21 Days Devotional - Day 7

John chapter 7:  In Your Honor Life is filled with many challenges that can cause us to live our lives relying upon our own abilities ... were not to honor Himself, but to honor the Father who sent Him. He took no credit for His words ... . As Christians, we have a responsibility — we can choose to honor ourselves by taking credit for the things [more...]

Date: 2009-01-17 05:01:03

Painful eyes

A lot of emails come my way every 24 hours. Some stand out. Like this one. Not just that she’s a realtor who likes me ( ... citizens have become. Not just because she now laments the influence of cheap credit and easy money ... to holding mortgage and credit card debt to the tune of 75 Billion, they say well that’s normal that’ [more...]

Date: 2009-01-17 03:17:13

It’s time to refinance ~ but is your home worth enough to get that great low rate?

Short sales, Bailouts, Mortgage Reductions…there are all kinds of programs being talked about, ... .  But I have a question.  What about the homeowner who has never missed a payment, has a great credit score ... it would be simple with a history of a lifetime of great credit, right?  Nope.  Not if your home [more...]

Date: 2009-01-17 04:16:58

Taking Our Medicine

by hilzoy The NYT has a long piece on the financial meltdown in two parts: 1, 2. It's very much worth reading ... bidders -- perhaps to some bank that was not swept up in the credit bubble. The rest should ... an enormous credit contraction -- if they aren't in business who will be left to lend money [more...]

Date: 2009-01-05 02:55:53

A Step-By-Step Guide to Getting Your (Actually) Free Credit Report without Accidentally Signing Up For Extras

Those songs from a certain misleading ad campaign sure are catchy - and I don't just mean that their melodies are hooky and infectious. The main catch from this supposed freebie website (which shall not be named so as not to introduce any possible confusion with the only FTC authorized vendor of free annual credit reports) is that... 3 Vote(s) [more...]

Date: 2009-07-27 15:01:16

Treasury Warns Against Getting Into Trouble With Debt

Earlier this month the Treasury Department, headed by Henry Paulson, in conjunction with The Advertising Council, ... online video game that attempts to teach the importance of having a good credit score managing debt ... financial future. I love the tagline: “Don’t let your credit put you in a bad place.” In an apparent [more...]

Date: 2008-09-29 16:47:02

Repair A Bad Credit Report - Is it possible to have it done for you?

A credit report is an important piece of paper. Lenders look at it closely when basing their decision on whether or not to give you a loan. Insurance companies can use it to determine your rates or whether they will consider covering you at all. Employers can make use of this report and use it [more...]

Date: 2009-09-26 12:09:42

NFP: Even Worse Than Reported

Over the past few years, we have railed at the prettyfied numbers that come out of BLS regarding NFP job creation and the unemployment rate ... of aberrational, credit-driven economic growth was hidden from the public view. Many (tho not all) of Wall Street ... now in a full blown recession, and the Housing and Credit crisis getting worse, it hardly semed [more...]

Date: 2008-12-08 11:34:50

How To Get Your Free Government Credit Report

Under the Fair Credit Reporting Act, you are entitled to ask for, and receive, a free copy of your government credit report once a year. The FCRA serves to promote accurate information, held in privacy, by consumer reporting companies [more...]

Date: 2009-09-24 11:08:43

6 Financial Mistakes You'll Soon Regret

Written on 9/24/2008 by me, Jay White, the founder of Dumb Little Man and an all around average guy ... app.Photo Credit: demi-brooke Assuming you haven't been under a rock for the last 10 years, I'm fairly ... advice of choosing credit cards, reducing debt, setting a budget, or managing cash. What I want to try [more...]

Date: 2008-09-24 04:24:28

More CRA Idiocy

Howard Husock has an exercise in cognitive dissonance in today’s NYT Op-Ed pages titled Housing Goals We Can’t Afford, and it begins: ... in all communities. Credit Score, Loan-to-value, percentage ... certain neighborhoods. If you lived within the redlined areas, regardless of your income, credit score [more...]

Date: 2008-12-11 16:05:13

Ed McMahon Rap Videos FreeCreditReport.com

We’re filing this under “Oh My God, Are You Serious? ... for FreeCreditReport.com, a financial Web site owned by credit bureau Experian. Poor Ed. The things ... I had money and glory/I bought a house for 6 mill/I thought nothing could touch me/Until my credit went [more...]

Date: 2008-09-25 16:41:27

Issue of the day: mark to market accounting

Issue of the day: mark to market accounting Andrew Leonard cuts loose: So, mark-to-market accounting contributes both to credit bubbles, ... , and credit busts, at which point, Something Must Be Done. There's just one big fat honking problem ... of these risky assets to decide for themselves what they're worth? From the SEC's "Clarifications on Fair [more...]

Date: 2008-10-06 22:47:40

Wildfires Cause Cooling in Arctic

wildfire image credit: Getty Images/NASA Wildfires in Alaska and Canada Had Net Cooling Effect Proving that climate science can be anything but intuitive, researchers report that large wildfires could have a net cooling effect. Led by Robert ... and Canadian wilderness in 2004. The work is credited with creating a better understanding [more...]

Date: 2008-07-23 14:23:49

Mexico May Avoid Credit Rating Downgrade, JPMorgan Says

Mexico may stave off a credit- rating downgrade, JPMorgan Chase & Co. said. “From our conversations with the rating agencies, they appear to be giving Mexico the benefit of the doubt and will likely wait to see what components of the fiscal reform are approved by Congress,” JPMorgan analysts led by Joyce Chang wrote in a report to clients. [more...]

Date: 2009-09-29 16:44:07

Runaway Stars Go Ballistic

Runaway Stars Go Ballistic New Video - Flying Through a Supernova's Grave A 3-D model of Cassiopeia A gives researchers insight into how stars die. Credit: Chandra X-Ray Observatory ... and Opportunity after five years exploring Mars. Credit: NASA/JPL-Caltech Top 10 Mars Rovers' Most [more...]

Date: 2009-01-12 22:12:46

Glorious Beloved Deregulator Guy speaks

Listening to the Beloved Glorious Decider Guy tonight I was struck by two things. I had to actually go to whitehouse ... , you would find it harder and more expensive to get credit. More businesses would close their doors, and millions of Americans could lose their jobs. Even if you have good credit history, it would [more...]

Date: 2008-09-25 03:45:32

Glimpse Before Big Bang Possible

Glimpse Before Big Bang Possible New Video - Flying Through a Supernova's Grave A 3-D model of Cassiopeia A gives researchers insight into how stars die. Credit: Chandra X-Ray Observatory ... and Opportunity after five years exploring Mars. Credit: NASA/JPL-Caltech Top 10 Mars Rovers' Most [more...]

Date: 2009-01-14 01:13:28

"Greenspan's Folly"

Jeff Sachs says that Greenspan's bubbles and the problems they have caused make clear that it's time to abandon " ... to lend to these households, in part because the credit markets were deregulated ... can again obtain short-term credit to meet their payrolls and finance their inventories. The next [more...]

Date: 2008-10-31 19:24:00

Credit Crisis Report 10/12/2008 Problems Deepen (MS)(RBS)(HBO)(FNM)(FRE)(GM)(F)

The IMF said that the world banking system faces of meltdown if governments does not take immediate action to support that largest banks ... . Bloomberg reports that Fannie Mae (FNM) and Freddie Mac (FRE) began notifying bond traders ... credit derivatives linked to Lehman Brothers are likely to be higher than anticipated after auctions [more...]

Date: 2008-10-12 11:41:21

Jim Welsh on Stocks, Gold, Dollar, Bonds, ETFs

E. James Welsh of Welsh Money Management, is the author of The Financial Commentator, a monthly newsletter ... loans, credit cards and corporate debt, due to weak economic growth. Oh, and commercial real ... , a respected research firm, had estimated that losses from the credit crisis could total $1.6 [more...]

Date: 2008-11-13 11:29:23

Less Than the Sum of Their Auto Parts

Being in the auto-parts business these days has a bit of a “gerbil on a treadmill” quality to it ... Credit-default swaps of TRW (green) and American Axle (blue) have widened dramatically. (Source ... , TRW Inc.’s credit-default swaps reflect a cost of $583,000 to insure a similar amount of debt [more...]

Date: 2008-06-25 16:00:33

Twenty-First Century Trust-Busting

Halfway through Michael Lewis and David Einhorn’s NYTimes Op-Ed (btw, when did those two hook up?) ... businesses to the highest bidders — perhaps to some bank that was not swept up in the credit bubble ... that if you don’t prop up these banks you risk an enormous credit contraction — if they aren’t in business [more...]

Date: 2009-01-04 15:45:51

Widespread Mortgage Refinance (Good Credit Doesn’t Pay)

Mine won’t be one of the three million mortgages expected to get a new deal via The Bailout ... , to have the right numbers on our credit report. AND a month later when every headline ... , and took the best mortgage deal we could get. Who Wouldn’t Take an Adjustable Rate Mortgage? Because [more...]

Date: 2008-10-30 13:35:53

Free FICO Score At Equifax (No Strings)

Written on 10/02/2008 by me, Jay White, the founder of Dumb Little Man and an all around average guy ... . As you may know, Equifax is one of the 3-primary credit bureaus in the US and its score is used heavily ... (as promotions do), you can also obtain a free credit report at annualcreditreport.com. While it won't give [more...]

Date: 2008-10-02 12:12:54

British Pub Unveils £1 “Credit Crunch Lunch”

Dear American pub owners everywhere, Please, please take a hint from the report below (Ananova): One resourceful pub landlord has decided to tackle the credit crisis by pricing all the meals on his menu at just £1 - and it’s working. …customers are flooding in and trade is flourishing, says [more...]

Date: 2008-10-23 12:00:50

Was There Really a Financial Crisis ?

Hale “Bonddad” Stewart is a former bond broker with several regional firms ... no credit crisis. Several people have used this paper to argue that Wall Street overstated the severity of the credit crisis in order to get a bail-out they didn’t need. What these commentators [more...]

Date: 2008-12-22 13:00:55

Report: Columbia Astronauts Killed in Seconds

Report: Columbia Astronauts Killed in Seconds Video - Columbia's Crew: ... system. Credit: NASA. The Energy Debates The pros and cons ... Moonshot India's space agency ISRO is set to launch Chandrayaan-1, its first moon probe. Credit: ESA [more...]

Date: 2008-12-30 23:30:50

Fed Watch: Rate Cuts Increasingly Likely

Tim Duy says "the Federal Reserve is inching closer to lower interest rates": Rate Cuts Increasingly Likely, by Tim Duy: ... meltdown that began last year, credit channels have become increasingly impaired despite aggressive rate cuts. The credit explosion of this decade has proven unsustainable; you cannot borrow your way [more...]

Date: 2008-10-02 07:42:00

Satellite Firm Faces New Lawsuit Faulting Losses

Satellite Firm Faces New Lawsuit Faulting Losses New Video - Flying Through a Supernova's Grave A 3-D model of Cassiopeia A gives researchers insight into how stars die. Credit: Chandra X-Ray ... and Opportunity after five years exploring Mars. Credit: NASA/JPL-Caltech Top 10 Mars [more...]

Date: 2009-01-12 22:12:46

Note to Obama, Congress on green stimulus, part 1

By Joseph Romm The green stimulus is beginning to take shape with mostly good stuff in the stocking, except one big lump of coal ... consideration include a two-year, $8.6 billion extension of the production tax credit PTC for renewable ... the industry firmer ground. The solar investment tax credit got an eight-year extension last year [more...]

Date: 2009-01-14 08:28:08

How Steven Spielberg Handles the Credit Crisis

WSJ colleague Lauren A.E. Schuker reports: The global credit crisis has roiled the country, but in Hollywood the stars are still spending ... wrote a $26.5 million check this week to Paramount Pictures. speilberg0115_DV_20090116105743.jpg ... it wanted to take from Paramount to the new company–hence the $26.5 million check Mr. Spielberg just signed [more...]

Date: 2009-01-16 12:14:23

Credit Scores: How Important Are They?

3 years ago, it was possible to get a mortgage even if you had "bad credit". Today, it is very, very difficult to get a mortgage unless you have at least a "good" and sometimes a "great" credit score. 7 Vote(s) [more...]

Date: 2009-09-30 18:49:52

Covered Bonds

What went wrong with securitization? Can covered bonds fix the problem? ... the credit market turmoil started, however, this source of funding is less convenient and abundant than ... loans and loans larger than $417,000. Its disappearance has the potential to further disrupt credit [more...]

Date: 2008-11-02 07:15:00

Irresponsible Borrowing Means Wary Creditors

Irresponsible Borrowing Means Wary Creditors Posted in January 17th, 2009 Category: ... Credit Going out to secure a loan can be a difficult experience at the best of times. make money online This is more so when you have managed to get yourself a history of bad credit [more...]

Date: 2009-01-17 05:24:44

FRB SF: The Economic Outlook

John Fernald of the San Francisco Fed gives his view of the economic outlook. The bottom line? ... from housing, credit markets, and commodity prices, are likely to weigh on activity for some time ... , housing should begin to stabilize; credit conditions should gradually ease; and energy and food [more...]

Date: 2008-07-15 07:33:00

Coming This Week…

by Matthew Schwarzfeld - Tuesday, July 29 Credit: ProPublica 9:30 a.m ... . Access Code: 69922#) 2 p.m. -- House Financial Services holds a hearing on credit scoring models ... taxes. The hearing will discuss a coming GAO report on payroll abuse. 10 a.m. -- Senate Committee [more...]

Date: 2008-07-28 19:32:20

Media Digest 12/2/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, JP Morgan (JPM), Bank of America (BAC), and Merrill Lynch (MER) will cut a total of almost 20,000 jobs ... that frugal Asia will dodge most of the credit card problems which will hit other regions. The Wall ... Street Journal writes that Bernanke says that he can do more to ease credit crisis. The Wall Street [more...]

Date: 2008-12-02 08:51:40

Nuclear warning to taxpayers, investors, part 2

By Joseph Romm Part 1 presented a new study that puts the generation costs for power from new nuclear plants at from 25 to 30 cents per ... great. A June 2008 report PDF by Moody's Investor Services Global Credit Research, "New Nuclear Generating Capacity: Potential Credit Implications for U.S. Investor Owned Utilities" (PR here PDF [more...]

Date: 2009-01-10 12:44:19

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