Automakers Bankruptcy – Is The Dismantling True?

Saturday, June 6, 2009, 10:08 AM | Leave Comment

General Motors is breaking up. For so many years, it was a symbol of American ingenuity, innovation and at one time luxury as well. Foreign entities are rumored to snap up the broken pieces one by one. What if they actually succeed in overcoming the regulatory hurdles and what if they all succeed in bringing […]

GM’s Chapter 11 filing – who wins and who loses

Friday, June 5, 2009, 8:37 AM | Leave Comment

First off, the big losers as always are the stockholders. They are simply wiped out, and the value they once held goes to creditors. So the creditors win, whoever and wherever they are. That’s how the American systems of bankruptcy works. Many employees, in tens of thousands, would be laid off. We hear that several […]

FDIC extends $250,000 deposit insurance till Dec. 31, 2013

Thursday, June 4, 2009, 10:14 AM | 6 Comments

On Wednesday afternoon, the President signed this bill into law. The extension of the $250K coverage to 12/31/2013 is now official. On Tuesday both the House and the Senate passed an amended version of Bill S.896 which includes a provision to extend the temporary increase in deposit insurance from December 31, 2009 to December 31, […]

Speaking English Without The Use Of Acronyms Is Hard

Wednesday, June 3, 2009, 6:02 AM | Leave Comment

In finance and other disciplines, we have been bombarded by a variety of acronyms, mostly by all three branches of the government but to a lesser extent by private sector as well. Can we speak English without the use of acronyms? It depends on the subject and the talk of the moment. In some cases, […]

Lessons From A Personal Credit Crisis

Tuesday, June 2, 2009, 5:45 AM | 1 Comment

There is an article on written by John Tamny, published on June 1, 2009. The article is about the personal credit crisis of New York Times economic reporter Edmund Andrews. In the article, John states that Ed bought brick town house for $460,000. The “economic” reporter was making $130,000 a year with take home […]

Can The New Credit Card Laws Protect Us From Ourselves?

Monday, June 1, 2009, 7:50 AM | 3 Comments

The new credit card law may or may not protect us from ourselves. It does not protect us from our freely spending spree. One thing is for sure. In the Western World and Japan and a few other countries, owning a credit card or two, or perhaps ten for some, is almost a must. It […]

The Rich Turn To Massive Garage Sales

Friday, May 29, 2009, 6:42 AM | Leave Comment

Nothing in this world has remained unchanged. Like they say “the only constant on this earth is change, change, change.” Many people have a hard time grasping this. If folks have their own business or a line of business – for example, show business, arts and entertainment, real estate, construction and others – and they […]

Tips To Protect Identity ON-and-OFF Line

Tuesday, May 26, 2009, 8:26 AM | 2 Comments

Perhaps you can. Maybe not completely though. The anacondas of the world are swimming in the swamps of consumers misery and anxiety and they are getting smarter and smarter almost on a daily basis. They always have. Our God-given characteristics of being so gullible and so thirsty for money and comfort will always be with […]

Anaconda Squeeze In Credit Swamp Of Consumer Misery

Friday, May 22, 2009, 6:09 AM | Leave Comment

The anaconda squeeze in the credit swamp of the consumer misery has been relaxed and loosened up. Thanks U.S. Senate. For months now, the card companies have been threatening to cut rewards programs sharply to make up for revenue lost because of the new restrictions. Card companies want to make money, and big spenders help […]

NY State AG Sues Two Debt Settlement Anacondas

Wednesday, May 20, 2009, 4:12 PM | Leave Comment

New York Attorney General Andrew Cuomo yesterday scored his gains with a crackdown on two major outfits he accused of tricking and gouging consumers with debt-settlement schemes that caused more grief than relief for cash-strapped debtors. Mr. Cuomo sued two debt settlement companies Tuesday, accusing them of fraudulent business practices and false advertising. He said […]