Open Question: Who is to blame for the financial mortgage and lending crises?
“How banks were bullied into making bad loans” ‘Community activists’ used pressure tactics to secure high-risk mortgages Posted: April 05, 2009, 7: ... to provide affordable credit to or take advantage of through predatory loans and scams.” NACA earned ... acquiesced to demands for a settlement that included a stipulation to restructure its borrowed [more...]
Date: 2009-04-07 23:47:34
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Usury?
Once upon a time there were usury laws, which limited the amount of interest an institution (or Vinnie from down the block) could charge on a loan ... a very elegant looking letter in the mail, “You’re Pre-Qualified for an unsecured personal loan of $500 ... with such inconvenient laws. Vinnie moved to South Dakota and set up business. Credit card [more...]
Date: 2009-04-07 20:14:18
Financial Dispatch: Cracking down on housing scams
Andrew Torgan CNN Financial News Producer In the wake of the Obama Administration’s program to rescue troubled homeowners, ... participate. More people in the U.S. have fallen behind on loan payments than ever before ... high. Delinquencies rose in nearly every category, including home equity, auto and personal loans [more...]
Date: 2009-04-06 16:47:30
Lunchtime Links 4-3
(Send links, videos, pics to optionarmageddon at gmail with subject “link” … Thanks to Rob U.—$30—for his donation !) ... last week as chairman of the Federal Home Loan Bank System’s Office of Finance. He didn’t want ... vital to retaining talent.” So the looting continues… AIG: Before Credit Default Swaps [more...]
Date: 2009-04-03 15:42:39
Securing Your Future With Disability Insurance
Author : Joseph Kenny There may be a time in life when you may not be able to work due to illness or some other medical condition, whether temporarily or permanently Such a condition may result in a loss of income during that period While the state does provide compensation at such times through social security programs, [more...]
Date: 2009-04-07 20:06:30
So, You Want to Be an Entrepreneur
So, You Want to Be an Entrepreneur First, answer these questions to see if you have what it takes KELLY K. SPORS Thinking about starting a business? Make sure you're cut out for it first. In this bleak economy, lots of people are contemplating striking out on their own -- whether they're frustrated job seekers or people who are [more...]
Date: 2009-04-07 16:29:00
The Financial War Against Iceland by Prof Michael Hudson
Dandelion Saladby Prof Michael Hudson Global Research, April 5, 2009Being defeated by debt is as deadly as outright military warfare ... not defend itself by wiping out its bad debts. Yet these creditor nations so far have taken no responsibility for the current credit mess. And indeed, the United States and Britain are net debtors [more...]
Date: 2009-04-06 00:17:46
Flotsam and Jetsam
Not a single Republican votes for Obama’s budget and 20 Democrats vote “no.” Two Democratic senators did the same ... from the personal hardship why does Thursday’s all-time high in jobless benefits claims matter? “The job losses ... .” Especially since consumer loan defaults are higher than they have been since the mid-1970s [more...]
Date: 2009-04-03 11:52:27
Bill Moyers Journal: William Black Interview
Since about 100 people sent me this interview, I suspect there might be some discussion in the comments ... The video is here ... their own personal income, deliberately set out to make bad loans? WILLIAM K. BLACK: Yes ... really bad loans, because they pay better. Then you grow extremely rapidly, in other words, you're [more...]
Date: 2009-04-06 17:42:00
7 life insurance mistakes to avoid
7 life insurance mistakes to avoid Is your insurance adequate? How do you know? Even in today’s hard times, you may need more, not less ... mechanisms with total pay-for-performance and excess compensation can be explained by governance ... you get the most bang for your buck. Stocks trim losses; Dow off 42 Profit-taking hits stocks after 5 days [more...]
Date: 2009-04-07 22:19:04
New Site Announcement: DVD Collection Software Review
Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable { ... your prized possessions, but that post-it note tracking method (seen it, want it, loan it) is starting ... you are their personal Blockbuster. DVD Collection software is designed to help you take [more...]
Date: 2009-04-07 17:17:55
Ways to Apply For a Fast Cash Personal Loan
There are moments in our lives where emergencies and unexpected expenses strikes when we are short in finances. Money is very essential, and not having enough cash in trying moments can really be a big problem. Of course, you can easily run to your friends and family to borrow money. However, they can’t lend you ... [more...]
Date: 2009-04-06 19:57:05
Reality Bites: The Solidarity Of Laid Off Twentysomethings
A recent piece on Slate.com compiled a selection of emails from twentysomethings who responded to the question of how they were dealing with the ... , buying necessities on credit because the student loan payments bludgeoned my bank account, racking up greater credit card debt than student loan debt, credit scores, having children, taking [more...]
Date: 2009-03-30 19:07:43
Quick!!! While He’s Outta the Country, Let’s Change it Back to ‘America’!!!!!!!
The Prez has flown to England and there’s only one thing to do while he’s gone: Let’s get our country back. Okay, it’s not going to be easy, there are a lot of hurdles. I’m pretty sure I can take Harry Reid, Chris Dodd, Chuck Schumer, Maxine Waters, and that puffball press secretary Gibbs. Multiple adversary bash-a-thon!!! Hai-Yah!! [more...]
Date: 2009-03-31 22:14:26
What if You Can’t Pay Taxes Owed?
It is close to the due date for taxes and you just prepared your return and realize that you owe more money than you can pay ... are the following: Credit Cards Home equity loan Friends and Family Pay advance from employer ... . This is a better method to use than using a credit card because the interest rates are typically lower [more...]
Date: 2009-04-01 00:17:39
ACORN/NY Times/Obama Campaign Story: Some Details Not as Reported
On April 4 I wrote about the testimony of Heather Heidelbaugh who appeared before Congress to speak about the various shady, if not criminal, actions perpetrated by ACORN (the Association of Community Activists for Reform Now) and its Project Vote offshoot over the last few years — and especially during the late campaign for the White House [more...]
Date: 2009-04-07 10:53:37
Congratulating Chrysler and A123 Systems
On April 6th, Chrysler LLC announced the creation of a strategic alliance whereby A123 Systems, Inc. will become a primary battery supplier for Chrysler's planned line of plug-in electric vehicles. This is a huge step toward rebuilding America's domestic battery manufacturing infrastructure and both companies should be congratulated [more...]
Date: 2009-04-07 15:58:54
The Best Way to Rob a Bank Is to Own One
History is repeating itself folks. To understand what's going on now, reading THIS book about what went on then, is essential ... Wright fiddled while the savings and loan crisis burned. It explains how, and why, the government ... value in explaining this particular outbreak of white collar crime in the savings and loan industry [more...]
Date: 2009-04-07 13:28:00
Instant Unsecured Personal Loans Are Great for Fast Cash
by Rick Zimmer It’s human nature to want instant gratification in everything we do - and our financial situation is no exception ... their next paycheck. Unsecured personal loans refer to loans where the bank or lender isn’t requiring any type of collateral to secure the debt. This is a riskier situation for the lender, which means [more...]
Date: 2009-04-07 16:15:38
CBA stands alone on rate cut, boost beneficial funding gap
The Commonwealth Bank of Australia (CBA) stands alone as the only major bank to cut interest rates after another easing in monetary policy - albeit ... and those for loans on its lending books compared with smaller players who, because of the credit squeeze, can access capital but only at a higher cost.On Credit Suisse numbers, CBA’s beneficial [more...]
Date: 2009-04-08 00:54:01
April 7 Commentary
By Author_Ego No doubt about it, this market’s price/volume action continues to impress. When we rally, we do so on heavy volume; when we pullback, volume contracts and, more than that, we have gotten into the habit of closing in the upper part of the day’s range. Just what you want to see [more...]
Date: 2009-04-07 18:08:13
Bad credits
Are you into a tough situation right now because of your credit problems? Is getting a loan seems impossible because of your worst credit history? ... you can ask help to in providing loans and other financial services even if you have a bad or worse ... home or your dream car. So, all it would take you is to visit the site. Having a bad credit score [more...]
Date: 2009-04-07 21:19:33
Jubilee in the Midst of Foreclosure
Therefore, the kingdom of heaven is like a king who wanted to settle accounts with his servants. As he began the settlement, a man who owed him ten thousand bags of gold was brought to him. Since he was not able to pay, the master ordered that he and his wife and his children and all that he had be sold to repay the debt [more...]
Date: 2009-04-07 22:09:09
The Madoff Rolex Connection
Zero Hedge is happy to introduce its newest contributor, Travis, ... leverage is sufficient to purchase that Murcielago whole loan trading at 22 cents on the dollar which ... abruptly stepped-down due to “personal interests,” only to be replaced by former banker and CFO Bruno Meier [more...]
Date: 2009-04-02 16:02:00
Small Business Start Up Loans To Kick Start A New Business!
Many of today’s largest and most successful companies started out in someone’s kitchen or workshop and became a raging success and household name ... . And many loan processes take weeks or even months! At America One Unsecured, we have the solutions for you. We offer a full line of unsecured business lending products, and the simplest, most efficient [more...]
Date: 2009-04-07 23:05:00
ACORN/NY Times/Obama Campaign Story: Some Details Not as Reported
-By Warner Todd Huston My exclusive interview with ACORN whistleblower Anita Moncrief On April 4 I wrote about the testimony of Heather Heidelbaugh who appeared before Congress to speak about the various shady, if not criminal, actions perpetrated by ACORN (the Association of Community Activists for Reform Now) [more...]
Date: 2009-04-07 11:27:30
New on DVD: Week of April 7
Filed under: DVDs It's a big week for DVD releases, no 'Doubt' about it ... student, their relationship transforms from one of passive difference to hostile opposition. It's Kind ... is an insufferable loan officer who joins a cultish movement that demands its members say "yes" to everything [more...]
Date: 2009-04-07 06:00:00
The Cult of Zero Imbalances
Marshall Auerback here with a few thoughts about this economic cycle, external imbalances, fiscal stimulus, and current account deficits. This is not the Great Depression. We are going to have “muddle through” here precisely because we lack the courage to deficit spend on the magnitude we did in World War II [more...]
Date: 2009-04-02 13:12:55
Helpful Tips On Bedroom Furniture
Do you know how beds came about? I doubt if you do, so listen up. The first set of beds consisted of piles of leaves, grass or straw with a covering of animal skin round it .By the year 3600 BC beds made with goatskin filled with water were used in Persia. While in the year 3400 BC Egyptians slept in the corners of their homes [more...]
Date: 2009-04-08 02:15:58
Credit Reports: Navigating a Horrible System
Image via Wikipedia Even in the best financial times, knowing your credit score and what’s in your credit report is sound practice. Unfortunately, the three credit reporting bureaus make it just about impossible to attain your credit information, especially if you’re a young, mobile individual: the type of person who most needs [more...]
Date: 2009-04-07 19:40:00
Debt Snowball - Highest Interest vs Smallest Loans First
Mathematically, it’s obvious that paying off loans with the highest interests rate first makes the most financial sense but as some of you may know, ... s take a look today. Smallest Loan First The smallest loans first method is simple. Instead ... payment of all your loans each month and pile all other available income for debt repayment into the loan [more...]
Date: 2009-04-06 13:00:29
Frugality,Thrift and Saving - The New Norm
I got stuck in a major traffic jam again last week, a trend that seems to be getting worse ... during one of the toughest recessions the nation has ever faced. Here are some personal finance ... portfolios back to 2001, Americans are saving more now than ever. The easy credit and free spending [more...]
Date: 2009-04-07 22:10:00
Tighter consumer credit flattens Deal Stocks
Tuesday was a down day as prospects for an economic recovery look like it may take a while as news that consumer credit fell by $7.48 billion, or 3 ... ), who are on the brink of bankruptcy and rely on consumer credit to ramp up their earnings. Overall, the Dow fell ... fell 11 cents, or 12.5%, to 77 cents. Along with being hit by the shortfall of consumer [more...]
Date: 2009-04-07 20:59:03
A Loan Modification Hardship Letter Template Can Save Your House
by Anthony Fine Often the ability to write a quality hardship letter is paramount to your response in receiving a loan modification ... to foreclosure, unless as a lender, he or she steps in to help with the approval of a loan ... the financial condition an individual confronts when dealing with: loan modifications, forbearance [more...]
Date: 2009-04-07 21:27:36
How to Eliminate Your High-Interest Consumer Debt.
It’s easier than ever to borrow money to pay for all the things you want in life ... , recreational vehicles and the like. Even for smaller items you can use a credit card to get yourself ... in miscellaneous debt that seems to keep piling on up. Most of the loans you’ll be given [more...]
Date: 2009-04-06 15:26:00
Personal Loans - What to Be Aware Of
With the right deal, a personal loan can be very useful; not only can it help pay for expensive items like a car or holidays, but it can also be practical for consolidating existing debt. However, since every personal loan package is different, it is essential that you understand how to find the right one ... [more...]
Date: 2009-04-03 19:54:12
Using The Office Button In Microsoft Excel 2007
Excel has no menus or toolbars. However, it does contain a feature called the Office Button which bears a remarkable resemblance to regular menus as well as a Quick Access Toolbar which is a lot like the toolbars found in previous versions of Microsoft Office. In this article, we’ll look at these two features and see how they work [more...]
Date: 2009-04-08 03:00:41
The Reread Reviews - Introduction and Thor #491-494
Hey there. As Brian said earlier today, I’m Chad Nevett and I will be contributing to the blog from now on. I figured I should begin with a little introduction and then jump into the first post in a regular feature I’ll be doing called the Reread Reviews. So, join me below the cut and we can get a little better acquainted. There will be spoilers [more...]
Date: 2009-04-07 19:53:57
Mortgage Broker or Bank - Which should(n’t) you use
I often get asked, “ Why should I use a mortgage broker versus going to my local bank or going through the internet? “ The latter part of the question is the easy one to answer. Unless it is a major well-known ... out all your personal information (social security, bank accounts, etc.) to an unknown [more...]
Date: 2009-04-08 03:02:59
When Friends Treat You Like A Bank
By: KATIE MARASCO, ESQ While so many people are seeing their savings disappear, ... and plenty of it are faced with a very difficult situation: Whether to give or loan money ... that think they are able to separate the personal from the business and want to go forward [more...]
Date: 2009-04-07 14:00:28
How to Pick the Best Credit Card
Depending on who you ask, a credit card is either a very useful financial tool or an incarnation of the devil. Your perception of credit cards is often colored by your personal experience, as it should, and it’s easy to see how a mountain of debt could make one despise credit. I’ve always seen them [more...]
Date: 2009-04-07 13:00:42
Find Out Useful Tips About Breast Cancer Treatment
A lot of success has been recorded in the treatment of breast cancer. But the attitude of the sufferer will also contribute to the success of the treatment. The sufferer has to be strong and show willingness to recover from this deadly disease. The body has a strong healing power that can play indispensable role in healing when the patient [more...]
Date: 2009-04-08 02:16:19
On The Foreclosure Lawsuit (Blaxploitation)
UPDATE (4/7) : MDN: Foreclosure relief . UPDATE (3/31) : According to the Memphis Daily News, the preparation for the lending lawsuit should be completed in about two weeks . UPDATE (3/26) : According to the Commercial Appeal , Shelby County is in line to receive federal funds to address foreclosed housing and it remains committed to [more...]
Date: 2009-04-07 12:35:00
Most Popular on Consumerism Commentary, March 2009
First, if you haven’t yet this week, check out the latest Carnival of Personal Finance , hosted by Wide Open Wallet ... through the RSS feed . There are many ways you can use the RSS feed, such as personal readers ... services based on short personal updates. My updates tend to be somewhat random non sequiturs [more...]
Date: 2009-04-01 11:00:15
Mortgage Loans - Mortgage Loan Tips For Borrowers Already in Default
Who says owning a house is easy? Tell that to thousands of people who are on the verge of loosing their house because of a default mortgage ... to people whose payments are behind by a couple of months who wants their mortgage loans modified to make it more affordable. Mortgage loans modification works well with people who can work out a plan [more...]
Date: 2009-04-07 13:18:25
The git-er-done Redneck Bank
Filed under: Banks What do you get when you do a mashup of Larry the Cable Guy, Jeff Foxworthy, and the American Banking System? ... for its slogan, "Personal bankin' bid'ness," and the outhouse on the home page? Certainly, for those ... , is a must-have. While the bank does not yet offer a credit card, I can just imagine the options [more...]
Date: 2009-03-30 20:00:47
Micro-Banking Has a Go in the U.S. - Analyst Blog
Highlights include Citigroup Inc. ( C ), Bank of America Corp. ( BAC ), JPMorgan Chase & Co. ( JPM ), Wells Fargo & Co. ( WFC ) and U.S ... ) instantly accesses credit information. If the loan is approved, it gets listed on the web site for two ... . Bancorp ( USB ) In 2006, Bangladeshi economist Muhammad Yunus pioneered "micro-credit [more...]
Date: 2009-04-07 14:26:54
Senators Call For More TARP Funds For Small Business
There’s more noise from Washington as politicians continue to respond to small businesses’ plea for looser credit ... . Entrepreneurs have historically relied on angel capital, venture money, personal credit and friends ... the Treasury to use bailout funds to guarantee bank lines of credit for small businesses [more...]
Date: 2009-03-31 18:16:51
Please Get Out of My Face(book)
Part of my core schtick at Top of Mind is to ask my prospects two critical questions about email marketing: 1) ... with clients and prospects? Two reasons - email is cheap and email is easy. 2) Why are you getting 200+ emails in your inbox every day? Exactly. Cheap and easy creates a low barrier to entry… [more...]
Date: 2009-04-08 01:22:46
Bad Credit Payday Loan Companies
Bad credit payday loan agencies provide loans to those with the unfortunate circumstances of falling prey to late or missed payments leading to ... institutions no longer offer personal loans, bad credit payday loan agencies are the only resources ... and comparing different cash advance bad credit payday loan lenders, you will be able to determine [more...]
Date: 2009-04-08 00:29:08
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