Financial instruments such as credit cards, pay day loans, loans on car titles, loans on income tax refunds, and subprime mortgages have led to a profound shift in consumers' self-understandings as financial decision makers.
Verma's nomination comes at a particularly important moment in U.S.-India relations. The landmark election of a new Indian government this past May led by Prime Minister Narendra Modi is widely regarded as an important opportunity to refocus ties between Washington and New Delhi.
That Obama selfie was, in fact, nothing more than a moment of playful bonding among world leaders under tremendous pressure. It portrayed a needed sense of unity among allies that no formal portrait in the White House could capture. There was really nothing wrong with it.
We're almost there -- October 3rd, when 39 students representing 35 businesses from around the country will contend for top honors and for the chance to win over $25,000 in cash and prizes from Mastercard to help bring their business ideas to life or advance their education.
Students will gather from all corners of the country for the competition and the southeastern region will be represented by student entrepreneurs dealing in everything from web design to fashion to software.
From fighting bullying, to baking fortune cookies, to the world of fashion, these students from the Nation's Capital, Baltimore and Philadelphia are inspiring and I know they will stand out with their innovative business ideas.
Through a secretive, sneaky, back-door approach, banks that issue the cards, along with Visa and MasterCard, have figured out yet another way to suck money from our pocketbooks without our ever even knowing about it.
If you are a regular reader of my blog, you'll know that one of the steps I recommend to rebuilding credit is to use credit cards. It's a smart, easy way to wisely develop good credit history -- but emphasis is on "wisely."
One in three small businesses say they can't get the financing they need to grow their business. And when small businesses, which employ more than half of all private sector workers, don't grow, Americans don't work.
When I returned to New York, I couldn't help but think that through the everyday resolve and achievements of people like Hilda and the systemic strides inspired by heads of state in Sub-Saharan Africa, I had just seen the future.
Maybe Apple is simply waiting for NFC to become mainstream before it jumps in. That's undoubtedly part of the reason, but I think there are other explanations that present real problems for the incumbent card networks and banks.
I believe that people such as Julian Assange, movements such as Occupy Wall Street and those behind the Arab Spring, actually want change for a better, not worse and more chaotic, world. But their image and their hard work is being hijacked and manipulated.
Now, as card issuers seek to attract and retain low-risk cardholders who swipe their cards for everything from a daily coffee to a first-class ticket to Hong Kong, many issuers have dropped the FTF on their travel cards.
Hey, MasterCard. Remember how you sent me that bill? And then the other one? And the one after that? The really mean one? And remember how I told you that I was good for it, but that you'd have to wait until January? Well, here's the thing. There's a bit of a wrinkle in the plan.
Over the next five years paying with your phone will become as commonplace as paying with cash, which is why every man, his bank and his phone company are in the battle to win the mobile wallet space. So who's going to win?