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Some People Do Terrible Things for Money
I was going through some of my old ‘saved’ articles on Instapaper when I ran across this one: $150 Million Trust Fund Stolen From Poor Children In Panama, Lawsuit Claims. It’s a bit of a dull read at times because of all of the ‘legalese’ but the point is outlined in the title. Here’s a brief…
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A 40-Year Wish List – What An Outrage!
I was playing a version of the newlywed game the other night with my wife and some friends when a question was asked of my wife in regards to what career I’d most likely end up in given a choice of only four: a policeman, firefighter, EMT or a politician. I knew right away which…
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What The Hell Is Going On In Washington?
I’d really like to know what is going on in Washington. What runs through the minds of our so-called congressmen and congresswomen? Why is it that we’ll pony up $700 billion dollars with just the snap of a finger to help battle a crazy mortgage related mess but we’re too damn poor (or are we…
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The Bailout of Fannie and Freddie: Redux
You may remember the post I published a month ago which was about the government bailout of Fannie Mae and Freddie Mac and what it might mean to us as the American people. I haven’t made it a habit to revisit old posts often because a large amount of my content is focused more on…
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When Will The Bailouts End?
Maybe it’s just me, but these bailouts seem to be happening more and more frequently these days. Six months ago it was Bear Stearns. Just two weeks ago we bailed out Fannie Mae and Freddie Mac. Now, as you’ve undoubtedly heard, the U.S. government has taken it upon itself to bail out American International Group,…
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The Bailout of Fannie and Freddie
The United States of America has officially become a nation of bailouts. With the government takeover of Fannie Mae and Freddie Mac on Sunday, September 7 they have also become the nation’s largest mortgage provider. They now own (or back) around $5-6 trillion in mortgage loans, which is roughtly half of the existing mortgages in…
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Don’t Do Business With This Credit Union
I know a girl who recently had her car repossessed by her financial institution. She got behind on the payments and because of extenuating circumstances mostly beyond her control she was never able to communicate with her credit union about the delinquent loan in order to keep it from being repossessed. They took her truck…
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Young Ignoramuses
How’s this for a hotly debated topic: Should credit card companies be punished for soliciting to youth and college age students? There’s many an argument out there in favor of punishing these companies for “hard-selling” their product to ignorant youth. I’d wager that there’s probably just as many arguments saying that these companies have no…
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Finally! No New Rate Cut!
Ben Bernanke and the Fed decided today to leave their federal funds rate at its current level of 2%. They’re finally starting to worry about inflation and seem to think that there is much more upside risk (by inflation of course) than downside risk (recession and a slowing economy) at this point. I’m inclined to…
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Regulation D Is Outdated
I understand the purpose of a savings account completely: they are to be used to put money into and to keep it there. However it would be an insane idea to think that one would not have the ability to access that money with any level of ease. The Federal Reserve however seems to think…