Wall Street Bonus Update

February 24, 2010 – 12:44 pm

I attended the February 23rd press conference held by New York State Comptroller Thomas DiNapoli where he announced that Wall Street bonuses tallied at least $20.3 billion in 2009 and industry profits could exceed $55 billion for the year – nearly three times the previous record. While a blogger or two from a major political website is occasionally included in such events, this may have been the first time a blogger for an investing/economics site was on the press invitation list.

The Wall Street bonuses revealed by the comptroller were literally that – compensation paid to employees working in New York City.

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Links: Best Charity Comparison Websites

February 23, 2010 – 4:17 am

With the recent natural disasters and also economic recession, many people are being extra careful to make sure their donations go as far as possible. Earlier this month, BusinessWeek ran an article Philanthropy: Rethinking How to Give which did a good job exploring the many websites now available to help you do just that. Initially, most websites focused on financial factors like what percentage of donations go to administrative or fundraising expenses, whereas now many sites tackle the harder task of measuring actual impact for the dollar.

Here is a list of the links, along with a quick description of that makes them unique, as they each have a slightly different approach.

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Irrational Exuberance & The Roots of Our Economic Problems

February 22, 2010 – 5:02 am

Have you received a bonus this year? Or, are you one of the millions who are unemployed at this time? There has been so much hype about company bonuses in the last year that this country seems to have become an anti-bonus citizenry. Sure, I agree that companies being subsidized by the government to avoid bankruptcy (and an even greater economic fallout) should not be paying exorbitant bonuses. But really, is anyone else sick of hearing about how bad the economy is, and what is or isn’t fair?

Let’s face it; this country was built, among other things, on the premise of free ideas, enterprise, and capitalism. Any

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CNNMoney rates Credit.com as one of the best websites for personal finance questions

February 21, 2010 – 5:19 pm

A credit score has become more important than ever when it comes to things like trying to get an auto loan or better mortgages rates.

And, with credit tightening, lenders are looking for people with higher credit scores as they try to limit the risks involved with letting consumers borrow money. As a result, people may wonder where they can go to get an idea about how their credit history stands.

Recently, CNNMoney.com released a list of the top 20 websites related to personal finance. Read more…

Understanding Your Credit Card

February 21, 2010 – 7:22 am

When something is misunderstood the results can be catastrophic. Misunderstandings usually come with miscommunication and it could’ve been avoided. If you do not understand your credit card you will end up hating every minute of having it but if you know that understanding something as valuable as your credit card you will always be able to enjoy its benefits. This article will guide you through the basics of a credit card so your credit card can help you.

 

There are common misconceptions about a credit card. The first would be that a credit card rate stays the same. Th

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Work-based safety net without any work

February 21, 2010 – 4:15 am

The New York Times article: Millions of Unemployed Face Years Without Jobs foretells a future of joblessness for former middle-class workers caught in the current great recession.

Call them the new poor: people long accustomed to the comforts of middle-class life who are now relying on public assistance for the first time in their lives — potentially for years to come.

Yet the social safety net is already showing severe strains. Roughly 2.7 million jobless people will lose their unemployment check before the end of April unless Congress approves the Obama administration’s proposal to extend the payments, according to the Labor Department.

Here in Southern California, Jean Eisen has been without work since she lost her job selling beauty salon equipment more than two years ago. In

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