A lot of numbers were thrown around in the fall of 2008 as one by one several of the country’s major financial corporations dropped like dominoes. Here’s a small (not all inclusive) recap: September 7: Freddie Mac and Fannie Mae were seized by the government with approximately $5 trillion worth of mortgages. September 15: Lehman […]
Despite the news media trying to sell airtime by pitching the Recession as the second Great Depression, this country has seen far worse in terms of its economy. If one has ever studied the Great Depression and come across articles on bank runs, bread lines wrapping around stadiums, or the 24%+ unemployment rate, they will […]
President Obama recently signed The Wall Street Reform and Consumer Protection Act. The financial reform act will be phased in over the next five years, with many provisions becoming law within the next 18 months. Along with permanently increasing FDIC insurance limits, the financial reform bill regulates investment and trading practices, hoping to prevent the […]
Could you imagine entering the doors of your bank with sweaty palms, wondering if your money is still there? Chances are you wouldn’t take advantage of the complimentary coffee, or sign a sheet upon walking in to speak with a representative; you’d be frantically running in, elbowing others in a crowd and trying to withdraw […]
Financial gurus have been touting the benefits of saving your money, being debt-free, and maxing out your IRA for years. And their influence and determination has paid off for a segment of Americans: how many of us now can shout out “we’re debt-freeâ€, confidently reach our early retirement or on-time retirement goals, and pay cash […]
Top 10 Financial Stories of the Decade
Posted byAs the decade winds down, it’s time to take a look back at the most prominent finance stories of the last ten years. Even though the decade was never officially named, there were many significant events that changed our economy forever. During the 2000s we saw stock market highs and lows, companies collapse and new […]
The Senate passed the new Credit Cardholders’ Bill of Rights Act of 2009 yesterday. After the new credit card bill is worked out with the house, and the President signs it, the changes take effect in one year. Credit Card Bill of Rights Here is a summary of the changes included in the new credit […]
$15,000 Home Buyer Tax Credit Possible!
Posted byUpdate: The $15,000 home buyer tax credit was eliminated in the compromised bill. It’s now an $8,000 First Time Home Buyer Tax Credit. A reader, Keith, left the following comment about the $7500 First Time Home Buyer Tax Credit: I just read that the $7500 home buyer tax credit is going to be jumping up […]
Deal or No Deal: Gambling With Math!
Posted byI’ve caught the game show Deal or No Deal twice over the last couple weeks and it’s driving me crazy! It’s a mathematical game but the contestants don’t play it mathematically. It’s getting to the point where I can’t watch it anymore! How the Game Works If you haven’t seen the show, it’s a pretty […]