Senator Charles Grassley, R. Iowa came out but more strongly

Tuesday, March 17, 2009, 8:56 AM | 1 Comment

Yesterday, I posted an article about Finally somebody spoke up about AIG but half-heartedly. In that article, I mentioned at one point, that short of hanging them, the elected officials should do everything in their power to revert the AIG bonuses. I commended Bonnie Frank for coming out and I strictly mean financially. Now Senator […]

Finally somebody spoke up about AIG but half-heartedly

Monday, March 16, 2009, 10:38 AM | Leave Comment

Bonnie Frank, a Massachusetts Democrat who is chairman of the House Financial Services Committee, spoke up against AIG bonuses for top-level executives. The $165 million in bonuses was to be paid to the executives by Sunday March 15, and most are going to AIG Financial Products, the unit that sold credit default swaps, the risky […]

How Money Travels Through Banks And Pockets

Sunday, March 15, 2009, 12:38 AM | Leave Comment

While more than $2.8 trillion (a trillion is a billion spelled with a t) in retirement savings alone vanished and another $400 billion (a billion is a million spelled with a b) in taxpayer-financed loans were rushed to bail out troubled banks, financial executives gave themselves approximately $18.4 billion in bonuses. Here is a run-down […]

What’s in stimulus package for you?

Saturday, March 14, 2009, 1:20 PM | Leave Comment

Your family budget could get a boost from the new stimulus package passed into law by Congress and signed by the President. It includes a mix of tax credit, aid to retirees and the unemployed, and incentives for spending. The latter must be for the better of the nation’s economy as a whole. Among the […]


Friday, March 13, 2009, 12:51 PM | Leave Comment

There are many sites of entertainment that are totally free or they charge minimal fee that, I am sure, you can afford. Free services are available in a variety of categories, you just have to look for them. A few of them are given below. Take advantage of them. In our family, we use many […]

Short Sale Is Definitely Better Deal If You Have The Money

Thursday, March 12, 2009, 7:38 AM | 1 Comment

In this lousy market, there is a phenomenon known as underwater mortgages. That means the house is worth less than the mortgage loan still remaining to be paid on the property. If you sold the house in this kind of situation, the money you get from the sale will not be enough to pay off […]

Is REO a better deal if you have the money

Wednesday, March 11, 2009, 7:08 AM | Leave Comment

Doing some research via my favorite search engine, I came across a phenomenon called Real Estate Owned property, or REO. Simply stated, these properties belong to mortgage lenders, mostly banks. They outright own the property. REO kicks in as follows: Foreclosure begins with a homeowner’s failure to make a mortgage payment and ends on the […]

Madoff Guilty Plea Expected

Tuesday, March 10, 2009, 10:35 PM | Leave Comment

USA Today ran an article about “Madoff guilty plea expected; trustee’s found only $1B so far” By Kevin McCoy. Bernard Madoff is expected to plead guilty to 11 criminal charges with a combined maximum penalty of 150 years in prison, enough to all but ensure the disgraced financier dies behind bars, his attorneys said Tuesday. […]

Preserving What You Have Saved After Layoff

Monday, March 9, 2009, 6:53 AM | Leave Comment

Since the start of the recession, more than 3 million people have lost their jobs, according to the Bureau of Labor Statistics. Are you one of them? If you are, then you ought to make decisions about your personal finances and the sooner the better. In addition to making decisions about your health and insurance […]

Financial news – Mar-07-2009

Saturday, March 7, 2009, 12:37 AM | Leave Comment

Madoff expected to plead guilty to fraud charges Bernard Madoff, accused mastermind of a $50 billion (35.5 billion pounds) investment fraud, is expected to plead guilty to criminal charges next week, three months after his arrest shocked his customers worldwide. A court document signed on Friday by prosecutors and Madoff’s lead attorney indicated the once-respected […]