Risks, Benefits Of Securitization Under Scrutiny
These days, almost anytime someone borrows to fund a business, buy a car or get a mortgage, the debt gets repackaged into a security that can be bought or sold like a stock. But critics say abuses in the securitization market helped bring about the housing meltdown.
The Bank Anger tour across the blogosphere
Now, I know that it's nothing new to blast a bank on a blog, or trash it on Twitter or spread your fury about their practices on Facebook, but with bank fees climbing and climbing (overdraft fees are estimated to cost Americans $38.5 billion this year), I went on my own little Internet tour today, looking around for reactions to banking fees…
Goldman Sachs created every major economic bubble since 1930
They use the same playbook over and over again: Goldman positions itself in the middle of a speculative bubble, selling investments they know are crap. When it all goes bust, leaving millions of ordinary citizens broke and starving, they begin the entire process over again.
Expose: Goldman Sachs behind every market crash since 1920s
Investment bank Goldman Sachs had a crucial role to play in every market bubble and crash since the Great Depression, says a new article. Goldman not only made money when asset prices were going up — by hedging their bets, they made money on the way down, too.
The Average American's Financial Journey (Infograph)
Lifetime of debt
The Joy Of Work: A Disabled Man's Quest For A Job
It's a tough time for anyone to find a job. And for adults with developmental disabilities, like autism and Down syndrome, it's even tougher. Advocacy groups estimate that two-thirds of the developmentally disabled are unemployed. Michael Medina is a client of The Arc, a national nonprofit that offers support services to people
Beyond Billboards: 9 Outdoor Ads Worth Noticing
The most effective ads make people stop in their tracks and do a double-take. The billboard ads you'll see in this gallery don't just sell a product — they get people talking. See how some creative entrepreneurs are getting the word out.
467K jobs cut in June; jobless rate at 9.5 percent
Employers cut a larger-than-expected 467,000 jobs in June, driving the unemployment rate up to a 26-year high of 9.5 percent, suggesting that the economy's road to recovery will be bumpy.
The 15 Creepiest Vintage Ads Of All Time
What do murder, pedophilia, suicide and a baby tiger have in common? They have all been used to sell stuff in these amazingly disturbing vintage ads!These are real, untouched advertisements from the good old days.
Fuel Tax may be replaced with By-The-Mile road tax
A federal commission, after a two-year study, concluded earlier this year that the road tax was the "best path forward" to keep revenues flowing. The decision by the 15-member National Surface Transportation Infrastructure Financing Commission was unanimous.
Feds, states - major action against scams of victims
Targeting scams that prey on people vulnerable because of the down economy, federal and state officials announced today a laundry list of legal actions including a lawsuit against a collection of get rich quick schemes that lured "hundreds of thousands" of victims who paid out about $300 million.
Gov. Schwarzenegger Declares Fiscal Emergency In California
California Governor Arnold Schwarzenegger declared a state of emergency in the state on Wednesday, calling a legislative special session in order to fix the state's budget crisis.
California Parks Could Be Seized By Feds
California officials said Wednesday they are trying to avert the federal government's threat to seize six parks that could be closed to help reduce the state's ballooning budget deficit. Parks that could be seized include Angel Island, Point Sur State Historic Park, Point Magu State Park, etc.
Personal Finance According to South Park
South Park's Randy Marsh does not seem to have the makings of someone with financial savvy. Neither his job as a geologist nor his irrational tendency to over-react suggest we should trust his judgment with money at stake. And yet, there is something this man can teach us about personal finance.
The American Dream: A Road to Riches [Infographic]
A New Look on Our Income vs. Our Debt Throughout our Better Years.
Bank of America accused of anti-consumer practices
People, who said they were former Bank of America employees, alleged that their supervisors drove them to burden consumers with needless debt and fees, to fatten the bank's earnings and the paychecks of senior executives, and threatened to retaliate if they complained. Some complained their salaries had been too low and that they had to hit quotas.
Iraq Oil a Big Draw for Chinese
Chinese oil companies are expected to bid in Iraq’s oil field auctions that are set to start Tuesday, although Sinopec, the China National Petroleum Corporation and the China National Offshore Oil Corporation all declined to comment Monday about their bidding strategies. Chinese oil companies have been particularly interested in buying oil fields
Why You Should Avoid Shady Companies Claiming to Reduce Debt
Numerous debt settlement firms promise to make debts disappear. But lawmakers have classified it a "rouge industry," arguing that debt settlement companies, which say they can negotiate reduced credit card and other debts, are "offering consumers false hope, charging tremendous fees and leaving them in a worse financial situation."
The 50 Wealthiest People in The World (MAP)
As denoted by the red arrows, many of these people have seen their wealth drop, but they still seem to be scraping by and meeting their basic survival needs somehow.
Can American Farms Make Bamboo the Next Big Cash Crop?
Bamboo has come into vogue as a sustainable resource. But until now, almost all of the bamboo in products sold here has come from overseas. That could change soon, as new planting techniques lead to millions of new acres of bamboo in the American South.
