There’s way more chaff than wheat in the air when it comes to understanding what’s wrong with the banks. Because of this it can be easy to get caught up in jargon and sound-bites and lose track of what the issues really are.
Two National Public Radio entities are doing a superb job at managing the [...]
How deaf is Ben Bernanke? With the US savings rate hitting a 14-year-high, the Fed unveils a $200B plan “aimed at boosting the availability of credit to consumers and small businesses.” While I hope this will be of use to businesses in need of it, consumers have already made it clear they’re not interested.
As Morgan [...]
“Credit is a system whereby a person who can’t pay gets another person who can’t pay to guarantee that he can pay.” – Charles Dickens
In this current economy where foreclosures, unemployment, bankruptcies and consumer credit defaults are reaching epic levels, are credit scores irrelevant?
A credit score is a numerical expression based on a statistical analysis [...]
by Constantine von HoffmanJanuary 15, 2009
Bailout
Yep, it’s so bad some companies are actually resorting to telling the truth.
Société Générale says it expects the United States’ economy to enter a depression and that China’s economy in in danger of imploding. Albert Edwards, an analyst for the European financial services giant, wrote:
While economic data in developed economies increasingly reflects depression rather than [...]
Would your friends foreclose on you? Maybe. Maybe not. Unfortunately, your friends are not the only ones viewing your profile or Facebook or many other popular social networking sites. Creditors and collection agencies are, too.
MSNBC reports that at least two Facebook members have been sent legal notices via their Facebook account. In what appears to [...]
Is it possible that a law enacted to ensure banks serve the needs of the communities the are located in might be at the root of the current financial crisis? The idea that any one thing, be it an agency, a law, an event or a person, bears total responsibility for the situation is patently [...]
Most people don’t live in a house remodeled, rebuilt and refurnished for their specific needs. Not because they don’t want one, but because they can’t afford it. Sadly, this is true even when Extreme Makeover: Home Edition remodels or rebuilds a home to meet a family’s needs.
The Vardon family discovered this first hand earlier this [...]
On Monday, all of the financial world turned its ears to announcement that the United States is indeed in a recession, confirmed by the National Bureau of Economic Research. Of course, most of us who have followed the state of the economy already knew this, and are likely shaking their fists at the [...]
The Securities and Exchange Commission (SEC) is getting tough on credit rating agencies. A series of measures announced on Wednesday, December 3, would impose additional requirements on the credit reporting agencies in an effort to increase transparency and accountability. Consumers, investors and lenders may even end up getting more meaningful ratings.
These comprehensive rules touch every [...]
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