As former middle-class professionals, we incurred real-world, middle-class debts. We still have car payments, mortgages and bills that require a real world, middle-class income to pay down. Now, we underemployed Americans must chip away at any savings we might have accrued during better days just to keep foreclosures and repossessions at bay.
You can see why bailouts fail. Wall Street and lottery winners have a common bond. They have access to easy money without restraints.
Beck leads a pack of royalist Republicans who have spent the summer mocking, vilifying and denigrating the nation's 14.5 million unemployed workers. The unemployed are fighting back, however.
Victims of the $3.6 billion financial fraud by Minnesota businessman Tom Petters are justifiably angry about the federal victim-restitution process th...
You and I hold an investment in the most unlikely turn-around fund. It is about to realize a huge profit with the upcoming public offering of General Motors.
I've been on vacation in Greece this week, regularly interrupted by bulletins about the dismal economic news back in America: bankruptcy filings at their highest since 2005; new unemployment claims surpassing 500,000. I was in the Ionian Islands when I read Paul Krugman's column about how we're engaging "in human sacrifices to appease the anger of invisible gods" -- allowing the obsession with deficit reduction to trump job creation. Surrounded by the monuments my ancestors built to appease the Greek gods, I found Krugman's analogy particularly chilling. The perverse priorities of "the apostles of austerity" were on display with the news that the U.S. is planning to turn much of the ongoing security work in Iraq over to private contractors -- a transition that will cost taxpayers hundreds of millions of dollars. How come those demanding sacrifice from millions of Americans never seem to have a problem with writing that kind of check?
Though entertaining, the compelling message in Final Audit is that greed, corruption and immoral and unethical behavior should not go unpunished.
Unless you're retired (or work on Wall Street), who's got time for a five-hour round of golf? On a 12-hole course, some of you duffers out there might finally break 100.
What does a family facing bankruptcy need more than anything? According to Ohio Representative John Boccieri the answer is easy: guns!
Feinberg is permitting the $1.6 billion he identified as "ill advised" payments to sit cozily in bankers bank accounts, monies that could well be deemed taxpayer gratuities, and with Feinberg counting, one could well imagine the sums are far greater.
Given that President Obama just promised to cut the deficit in half (as a percentage of GDP) by 2013, we figured it made sense to go back and review the White House's official deficit projections.
BP generates enough cash to absorb its liabilities from the oil gusher in the Gulf of Mexico. But that doesn't mean it will.
Enough is enough. We're now at day 52, and it is absolutely, positively clear that BP has been completely overrun and it's management is in full...
While we're thinking about financial reform, shouldn't one goal be a safer, more sensible financial marketplace than in the past, whether someone is shopping for a $200,000 home loan or a $200 cash advance?
Baseball is touted as the great game for the masses, but it is a business, about connections, making money, getting other people to pay for it. And it is about obtaining public goodwill.
As we reported in the italian blog Il Post, what was once one of the biggest photo agency is declaring bankruptcy and shutting down operations. In a l...