Dec 17
Late last week, the U.S. House of Representatives voted to approve a bill that introduces a spate of consumer protection measures.
The amendment that would have permitted homeowners to address foreclosure in bankruptcy by altering the terms of mortgage loans (in what’s known as “cramdowns”), though, did not make the cut.
Provisions of the Bill
The Wall Street Reform and Consumer Protection Act, as it’s known, includes the following provisions:
Mortgage lending reform: The bill would outlaw the type of predatory lending that allowed for the subprime boom and subsequent bust. Essenti
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Dec 17
Is having the soundest banks in the world something to brag about? I’m not convinced. Bear with me on this, as I’m semi-serious. Think of it this way: You certainly don’t want the least sound banks in the world. Those are disastrously unhelpful in doing anything useful in a modern economy. The list of such bad bank [ed., the other kind of bad banks] countries is currently led by Algeria, Libya, Lesotho, Kyrgyz Republic and East Timor. You end up with bank failures and lousy credit. It’s the worst of banking worlds.You don’t even want average banks. Read more…
Dec 16
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If you are married and you require automobile insurance, you can wait for to see some discounts depending on your driving and credit record. The thinking behind this theory is, most married couples are suppose to be more responsible and settled down. The potential to drive carelessly has been eliminated.
If the driving records of one or together drivers is bad, your car insurance rate will be on top of someone that has a clean driving chronicle and is single.
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Dec 16
For many reasons, bad credit is a nightmare that all people around the country really attempted to avoid having it in their life. If you are living in the US you should understand that having bad credit in hand would give you a painful situation to deal with. Your access to some financial support programs, especially loans application will be limited. And so, it usually takes painful years for someone to get back their good credit rank.
If you are one of those people whom are facing some difficulties with that bad credit, there you can ask Ovationcredit.com for immediate credit repair helps.
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Dec 16
For those that missed out, I just got an e-mail that the CollegeAdvantage 529 $25/$50 referral offer deadline has been extended to December 18th, 2009.
Deadline for Refer a Friend program is extended to December 18, 2009! Earn $50 for you and $25 for your friends and family!
You now have a few more days to earn a $50 referral bonus for your CollegeAdvantage account. You can earn a referral bonus when your friends and family open a CollegeAdvantage direct account by December 18, 2009. And they’ll earn $25 just for opening the account! A
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Dec 14
Reading the newspapers and watching TV one gets the impression that Citi (C) is about to exit TARP and all is well in the world. A few headlines to that effect:
Citi itself is pushing the notion that it is about to cross a big threshold:
This overview of the transaction comes from the red herring on Citi’s big secondary:
The dollar value of the “remaining equity stake” is $25 billion. There is no certainty that this amount can be paid back in the “6-12” months indicated in the prospectus.
Citi is not out of TARP. Those headlines were wrong. They will be out of TARP when they have repaid all of what is owed. If Citi r
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