Federal Regulators Get Bit »
Federal regulators are finding it a bit difficult to sit down after members of Congress criticized them for failing to see the problems with the foreclosure issues that hit the country. The media reported on the issues before the federal regulators brought it to light, and that is the issue before the congressional members that [...]
Bruce Willis Hits Russia »
Actor Bruce Willis is hitting up Russia by becoming the new spokesman for a Russian banking company called Trust Bank. According to statements from the bank, Mr. Willis is the epitome of the Trust Bank’s motto of loyalty and trust. Posters have already started going up in Moscow showing Bruce Willis on them.
Mr. Willis is [...]
Financial Aid for Ireland Ready »
Britain is standing ready to help Ireland with its debt issues by raising around 7 billion pounds. Since Ireland is one of Britain’s closest neighbors, having them fall into financial ruin would greatly affect Great Britain as well. Ireland holds quite a few financial ties to Great Britain and any failure for Ireland is sure [...]
New York Trolls Debt Collectors to Outsource »
New York Attorney General and future governor Andrew Cuomo made a great leap with consumers when he took on the practices of debt collectors that broke consumer protection laws. He even insisted that anyone who had foul experiences with these debt collectors to contact him and he would settle things on their behalf.
The consumers he [...]
American Media Files Bankruptcy »
American Media Inc. the parent company of world famous tabloids the National Enquirer and the Star, has filed for Chapter 11 bankruptcy in a New York court. The papers reportedly state that American Media has liabilities anywhere between $500 million and $1 billion with less than $50,000 in actual assets.
The company has stated that around [...]
SEC Forms New Regulations For Financial Companies »
The SEC, Securities and Exchange Commission, announced that proposals were in the works to help restrict on accounting practices by financial companies that try to conceal how much debt they actually have. These regulations are in response to the Lehman Brothers fiasco that helped bring the economic collapse underfoot in 2008.
The new regulations would make [...]
Banks Finance Payday Loan Centers »
In 2008, the collapsing of the financial system was touched off by Lehman Brothers. Within years the government wrapped its fingers into every aspect of the financial crisis, finding that bailing out the top of the long list of banking institutions was the only reliable way of kick starting the economy for recovery.
Now, we have [...]
43% Default with For-Profit Schools »
U.S. college graduates are learning a valuable lesson in low defaults. According to a recent report done by the U.S. Education Department, students that graduated from college and started their repayment plans for student loans in late 2007 were 52% more likely to default than students from three years earlier.
Since the onslaught of the financial [...]
Cutting Back on Credit Cards Not Helping »
For the 23rd consecutive month, consumers in the US have put their credit cards away in an attempt to work their way out of debt. While this seems like the smartest thing for people to do, it’s actually making the financial recovery take more time to get up to speed.
Although Americans have upped the borrowing [...]
NZ Quake and Economic Preparedness »
The major earthquake that tore across New Zealand’s second largest city of Christchurch this weekend has left a trail of damage and broken dreams in its wake, but it has also left something a bit unexpected; an increase in construction and building stocks.
Even though the New Zealand dollar dropped briefly against the US dollar, the [...]
