Is There a Future for the Bank?

In the good old days of plain vanilla finance, intermediaries were distinguished, and clearly distinguishable , between bank and non-bank intermediaries. The former, it was explained, were "special" in that they collected funds (mostly) in the form of short-term, sight money deposits, and lent them out (mostly) in the form of long-term, personal, non-marketable loans. [more...]

Date: 2009-09-29 18:53:18

Blog posts (186) | Videos (96)
 

FHA Mortgage Insurance Fund Down 40%

Mortgage Law Central reports today on FHA’s Oversight Capability.  The House Committee on Financial Services held a hearing to look into the recent Business Week story alleging that predatory lenders are alive and well originating FHA loans. The committee listened to testimony from HUD on the approval process for FHA lenders, [more...]

Date: 2009-01-14 22:30:06

10 Ways to Get Out of Debt on the Road to Financial Freedom

Debt is a word that has many negative connotations attached to it simply because it is the number one reason the vast majority of people are facing ... to into debt. Banks, mortgage lenders, credit card companies, pay day loan services, and car loan ... you are working your way out of debt. 4. Credit Cards – Credit card debt is a leading cause [more...]

Date: 2009-01-16 00:24:23

Hanging In There Ain’t Much Comfort When You’re Near the Top of The Range

Published this intro to the RevolutioNewsletter for subscribers on Monday…you can sign up to get these newsletter intro’s which I sometimes publish ... stocks, the best secular growers, the companies with no debt and tons of cash when (if) the market gets ... from the government paying off all the worthless contracts the company stupidly bought from AIG [more...]

Date: 2009-01-15 12:20:19

In-hog-aural...

Tonight, the beautiful wife and I had a talk tonight about the following... On January 20th, a wave of change will sweep our nation. Or will it? At the forefront of this new direction for America is the man that will change politics forever...Barack Obama! He'll immediately deal with the trillions of dollars of debt that America is in, two [more...]

Date: 2009-01-16 03:45:09

Obama, Wall Street and the US Automakers by Michael Hudson

December 8, 2008 — dandelionsalad Dandelion Salad by Michael Hudson Global Research, December 7, 2008 Weakening the economy, leaving it even more debt-strapped. There is a strange double standard in President-elect Obama’s largess with the public purse when it comes to Wall Street’s banks and insurance companies [more...]

Date: 2008-12-08 08:08:35

News Roundup: LIC Raises its Stake in Over 11 Firms

Govt. Allows 100% FDI for Facsimile Editions of Foreign Newspapers - The government has allowed up to 100% foreign direct investment (FDI) ... 150-200 crore of loan repayments. Besides, the company is also looking to reschedule loans due ... banks to restructure loans taken for commercial real estate without turning them in to non-performing [more...]

Date: 2009-01-15 04:27:53

Debt Reduction and Debt Elimination Programs: What’s the Catch?

One of the most frequent issues that readers contact me about is more information about a debt reduction or debt elimination program that they heard ... with consolidated one person’s debt into a convenient low monthly payment. However, this new consolidated ... payment, meant that the person involved would be paying on that debt for many years to come. [more...]

Date: 2009-01-08 20:00:36

Rethinking The Early Mortgage Payoff

By Julie Rains The borrow-at-a-low-interest-rate-and-invest-to-get-greater-returns mentality was so embedded in our ... mortgage payoff question is: if you weren't using your money to pay off the mortgage, what would you be using the money for? Here are some alternative uses of extra cash: Pay off non-mortgage debt [more...]

Date: 2009-01-09 15:41:42

Guest Post: Time to Recapitalize Banks Fully

As debate continues over the release of the second half of the Treasury Department’s Troubled Asset Relief Program, Peter Boone and Simon Johnson argue that it’s time to stop taking half steps and make sweeping moves to fight bank insolvency. Boone is chairman of Effective Intervention, a U.K [more...]

Date: 2009-01-15 11:47:00

Portugal Sustains

“Art has a function of teaching about the human condition. We live in hope, hope is fundamental” - Manoel de Oliveira Manoel de Oliveira (photo and quote above) is a living example for the Potuguese people of how to force their way out of the low growth/low per capita income trap into which they have steadily stuck their neck [more...]

Date: 2009-01-12 14:37:23

Drugs are expensive - Call the WAMBULANCE.

This post is a rebuttal to a post located HERE. I think the post is well written, and I think the blog author is probably a nice person ( ... going into debt or staying sick. I’m sure this is not new news: Prescription drug costs ... from the poor health of our citizens? As a community, shouldn’t we care and pay for our grandparents – [more...]

Date: 2009-01-15 05:27:14

Raising Women's Voices to "Health Czar" Tom Daschle

When Tom Daschle and the Obama health policy team sit down to discuss how we can fix our broken health care system, they need to make sure the table is big enough for the multiplicity of perspectives that matter. Women want more than a White House Summit and C-SPAN broadcasts to meet the needs of our grassroots communities [more...]

Date: 2009-01-15 20:09:35

Buy REO aka Lender Owned Real Estate

No, it’s not that REO! (wow, could a band look any cheesier? Buying REO (i.e. Real Estate Owned by a bank) does not always guarantee a great deal ... the foreclosure process and now owns it “free and clear” of any debt. That some, some banks ... - Residential and Commercial in Connecticut National City Mortgage - Residential Taylor Bean [more...]

Date: 2009-01-16 02:05:07

Another Paddy-Whack At MBIA

Standard & Poor’s dropped the structured finance operations of MBIA (MBI)  to junk status for the first time late Monday, bringing up its commercial real estate portfolio, but drawing a line in the sand for the traditional public finance insurance business that MBIA has tried to ring-fence from its deteriorating operations. [more...]

Date: 2009-09-29 16:44:03

9 Methods for Mastering Your Money in 2009

2008 was a miserable year for money. The stock market tumbled, unemployment soared, the housing market continued to crumble, and retirement savings shriveled away. Whew! Here’s hoping 2009 will be better! But hope can only do so much. Hope cannot bring change. Action brings change. If one of your goals for 2009 is to take control of your money ( [more...]

Date: 2009-01-05 13:00:21

Saving Citi and BofA while ending the crisis

As Citigroup Inc. desperately tries to right its ship, Bank of America Corp ... , thanks to the Fed. The problem is one of solvency: the equity markets simply don't believe that the banks' assets are worth more than their liabilities. I can't see a solution to this problem short [more...]

Date: 2009-01-15 19:55:23

Credit Scores: New Threats

Credit Scores: New Threats Credit Scores: New Threats A long-delayed update to the leading credit scoring formula is rolling out in 2009, ... . If your credit card issuer slashes your credit limit — which is increasingly likely these days — you could ... by lawsuits between its creator, Fair Isaac, and the nation's three main credit bureaus. Fair [more...]

Date: 2009-01-15 16:51:33

Political Wisdom: Obama’s Plan is Just Too Small

Here’s a summary of the smartest new political analysis on the Web: by Gerald F. Seib and Sara Murray Plenty of skeptics are popping up to suggest the economic stimulus plan President-elect Barack Obama will present, carrying a price tag of $800 billion or so, is too much government spending, [more...]

Date: 2009-01-08 15:58:41

1-15-2009 (Thu Afternoon) Fin. & Econ. Activity

General Motors Corp. cut its estimate for 2009 U.S. industrywide auto sales to 10 ... in additional capital from the Treasury Department’s Troubled Asset Relief Program, plus government ... 1970s, said Steven Meyerhardt, a spokesman at the Bureau of Public Debt in Washington. The early [more...]

Date: 2009-01-15 21:20:17

Carnival of Money Stories Edition #92

My favorite blog carnival is the Carnival of Money Stories.  Everyone loves a great story and I love reading the different stories people have about their money situations.  Some are sad, some make me a bit angry, some make me feel a little better about the “dumb decisions” I’ve made in the past, and most just give you hope [more...]

Date: 2009-01-06 11:56:57

Reino Unido: Students live in fear of debts that will take a lifetime to repay

Reino Unido: Students live in fear of debts that will take a lifetime to repay A new poll of 2,000 students has revealed that the majority are expecting to leave university with massive debts they will be unable to repay in the foreseeable future. Nearly one third of those in the poll believed that they would be leaving university with more than £20,000 worth of debt. A quarter of those polled think that they will rack up debts of up to £15,000. [more...]

Date: 2009-09-29 13:06:43

money is weird

I am going to write about something people don’t talk about much. Because of the taboo on class in our culture. And the universally agreed upon rule that you don’t talk about how much money you make. But I’m going to anyway. Because it’s weird when you make more money than your friends do. I feel weird anyway. There, I said it [more...]

Date: 2009-01-15 20:39:31

Finding a Bankruptcy Attorney in New Hampshire

People living with debt that they can’t handle have a few options to choose from. They can contact a debt or credit counsellor and try to work out a debt settlement plan ... and circumstances is crucial to help your case and help you understand the law and how it applies [more...]

Date: 2009-01-16 00:28:49

Will Obama Nationalize U.S. Private Pensions?

Earlier today I received an email from a concerned member of the Sovereign Society: " ... . In 2001 Argentina defaulted on $95 billion worth of government debt after a three-year economic meltdown that left Buenos Aires in bankruptcy. At the time, that was the biggest government debt default [more...]

Date: 2009-01-16 02:42:07

"Adding a Trillion Dollars in Debt is Quite Manageable"

This is from an interview of Kenneth Rogoff: ...The Long-Term Consequences of Debt Region: Well, let's talk about the U.S. debt and its long-term consequences, in the context of the current economic crisis. The Stabilization Act authorizes $700 billion, some of which will contribute to the growth of national debt [more...]

Date: 2009-01-06 06:21:49

Shopping for Individual Health Insurance

I am currently on vacation. This is a guest article by Miranda Marquit, who writes about personal finance for Yielding Wealth and edits information on debt consolidation for DestroyDebt.com . One of the biggest concerns right now in America is health care [more...]

Date: 2008-06-09 16:49:45

Today in Russian Business - Nov 25, 2008

The federal budget has given the Deposit Insurance Agency $7.2 billion to protect troubled banks. Advantages of devaluing the ruble: make Russian exports more attractive. Disadvantages: deplete the foreign reserve fund. As banks let go more and more workers, debt collectors are seeing [more...]

Date: 2008-11-25 11:31:13

Choosing a Credit Card When You Have Poor Credit

Choosing a Credit Card When You Have Poor Credit January 15th, 2009 Poor credit is something that can happen to just about anyone, ... t necessarily think of may run a credit check on you. This makes selecting a credit card to help ... control, it’s time to start rebuilding your credit. Even if you hope to never have debt in your life [more...]

Date: 2009-01-15 16:30:09

Five Reason To Get Primary Liability In Truck Insurance Coverage

by katie George The goods movement through road is always increasing within state or inter-state level ... from huge losses some time. About the Author: Debt Consolidation ... occurs. 2. The primary liability coverage is made compulsory by state and federal agency [more...]

Date: 2009-01-05 16:40:03

Compute Your Net Worth Once a Year

The following is a guest post from Marotta Asset Management ... . The storm has blown you miles off course, and not making any adjustments is destined to end ... money would be left if you converted everything you owned into cash and paid off all your debts [more...]

Date: 2009-01-13 17:34:21

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, I monitor a range of financial spreads and other measures. By perusing these, as summarized in this “Credit Crisis Watch” review, [more...]

Date: 2009-01-14 13:30:49

Depression-Loving Republicans and Conservative Allies Sue to Block Budget Solution

Putting their ideology over the best interests of the state, ... ) is that one of the plaintiffs is Insurance Commissioner and likely GOP gubernatorial candidate Steve Poizner ... , the National Federation of Independent Businesses, Insurance Commissioner Steve Poizner, Flash [more...]

Date: 2009-01-07 00:06:01

The Kool Aid They’re Drinking In Florida

The Charlotte Sun reports from Florida. “The annual Fishkind Report released Tuesday by Attorneys’ Title Insurance Fund projects Florida’s economy to rally last among all states, and possibly not until 2011. All Florida housing markets will be down through 2009, according to the report [more...]

Date: 2009-01-08 17:20:54

5 Things You Need to Know about the Estate Tax

Our new President, the House and Senate have a busy year in store for 2009.  Among the many issues on the docket is the Estate Tax.  Scheduled to sunset in a few short years, important decisions must be made.  Here are the basics about our current system: 1.    The rules for the levy of the US Estate Tax ( [more...]

Date: 2009-01-15 19:00:18

Dems Gone Wild

Democrats in Congress finally have what they wanted for years - a blank check ... to help the states meet the rising cost of providing health care for the poor in the recession ... to state governments to pay for health care? Its just a grab-bag of favored Democratic projects [more...]

Date: 2009-01-15 21:33:33

Dandelion SaladBy Mike Whitney January 16, 2009 “Information Clearinghouse“There’s no guarantee that Obama’s stimulus package will work, but there is growing consensus that something has to be done…and fast! The economy is contracting faster than anytime since the 1930s [more...]

Date: 2009-01-16 02:25:29

Long Term Disability Insurance: Purchased

I have gone forward and purchased a long-term disability policy for him ... to go with, because the entire point of earning those extra snowflakes is for them to be for debt elimination ... is accounted for and assigned a purpose, there isn’t $69 left unless I take it out of the debt [more...]

Date: 2008-08-15 09:54:08

The ‘Get Your Finances Off to a Good Start’ Giveaway!

A new year means new financial resolutions. And to help you along, Almost Frugal is giving away a fantastic financial planning tool package to help you succeed ... on the right financial track before the debt hits the fan.” While designed for the 18 to 34 year-old set, Green [more...]

Date: 2009-01-05 11:00:06

Can A Car Be Secure?

by Susan Tanner Security is a major concern with the current ecomonic problems in the United States ... will help with the discount, depending on the company doing the quote. If the car is being financed ... . If the vehicle is totaled, a good insurance plan will cover the remaining debt of the loan [more...]

Date: 2009-01-16 02:46:00

Research Oracle roundup for 15 January 2009

Earning Release Shaw Communications Inc.’s (NYSE:SJR) 1Q 09 revenues, EBITDA and operating income were in line with our expectations, while adjusted1 net income was below our estimate. As the overall results were broadly in line with our expectations, we maintain our BUY rating for the common stock [more...]

Date: 2009-01-15 17:34:17

The definition of insanity

First off, apologies for going AWOL; I’ve been without heat for six days — I was sincerely grateful for some this morning when the thermometer read ... , and then issued an … ummm … apology. Oopsie. Doesn’t care that the national debt has increased [more...]

Date: 2009-01-15 22:34:43

President-elect Obama’s Economic Speech

President-elect Obama’s Economic Speech Here’s highlights from the speech (full video here): Full text of the speech below: ↓ Show full post ↓ Remarks of President-Elect Barack Obama As Prepared for Delivery American Recovery and Reinvestment Thursday, January 8, 2009 Throughout America's history, [more...]

Date: 2009-01-08 02:14:29

Cameron offers savings tax cut plus clamp on public spending

David Cameron took the side of savers hit by tumbling interest rates yesterday and promised to abolish tax on the savings income of all basic-rate ... , he said, was facing a "catastrophic legacy of debt and disrepair"; he sometimes wanted to shake [more...]

Date: 2009-01-06 00:06:23

Insurance Glossary: Part 1

Insurance Glossary: Part 1 Accelerated Benefits Rider: ... life insurance companies use to determine your premiums. The older you are, the greater chance you’ll ... . Cash Benefits: Money that is paid to the insured upon settlement of a covered claim. Often found [more...]

Date: 2009-01-15 22:17:49

JEFF JOHNSON PICKS YOUR BETS - AFC EDITION '09

Baltimore Ravens at Tennessee Titans Stubbly Titans QB Kerry Collins is looking more and more like a soap opera surgeon who has ... Araton compared the Ravens defense to debt collectors following that Dolphins game. I just think [more...]

Date: 2009-01-09 19:30:13

Stiglitz: Just Say No to Tax Cuts

Joseph Stiglitz on the tax cuts versus spending question: Do not squander America’s stimulus on tax cuts, by Joseph Stiglitz, Commentary, ... the economy are growing. ... What is clear is that tax cuts will not help much ... , argue that tax cuts are the way forward. ... Tax cuts have increased our national debt [more...]

Date: 2009-01-15 22:16:00

Where My Money Is Going

FIRST CHECK OF THE MONTHDEBT 340.00GROC/EAT OUT 300.00CHURCH 125.00ELECTRIC 136.00CELL PHONES 180.00CAR INSURANCE 136.00TOLLS 40.00AUTO SAVINGS 40 ... the debt/projects that I will be paying off... paying down and putting towards future projects.2009 DEBT/PROJECT REPAYMENT FURNITURE BALANCE 640.00EXTRA HOUSE PAYMENT 873.00PAYMENT TOWARD SPOUSE CC [more...]

Date: 2009-01-15 21:37:00

A lesson from Japan

In March of 2001, to jumpstart a stagnant economy, the Bank of Japan became the first central bank to attempt “quantitative easing.”  Japan, of course, suffered from the collapse of its own real estate bubble in 1990.  Did it work?  Did it revive the economy? [more...]

Date: 2009-01-15 15:11:54

Will Barack Obama save World economy?

American Stock markets make a sharp remarkable bounce back on the news of Obama’s bailout plan and rescue plan for Bank of America ... and huge debt. Obama’s stimulus package also includes many sops like including a further extension [more...]

Date: 2009-01-15 20:44:00

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