Monthly Archives: October 2009

Helping Your Child Develop Good Credit

It’s pretty simple. Add his name as an authorized user of your credit card. This will help him build up his credit score and will make it easier for him to get loans, including mortgage loans, in the future. New … Continue reading

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Interest Rate Outlook Calm

The U.S. Treasury easily sold $44 billion worth of bonds this week. Combine that with the low consumer spending numbers released today and the expectation on Wall Street is that interest rates will stay low. California is putting up $3 … Continue reading

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TARP Helped Economy, Created Distrust

A government watchdog issued a blunt report saying that the U.S. Treasury did not hold bailout recipients accountable. They did not have to show how they spent their funds. They did not have to go public. The bailout operated behind … Continue reading

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Homebuyer Tax Credit Wide Open To Fraud

Gee, that’s a surprise. Another government program open to fraud? Who would’ve thought it? Many of the claimants for the tax credit are thought to be illegal aliens. Many seeking the tax credit are under the age of 18. Those … Continue reading

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We’re Unlikely To Get Our Money Back

We’ve spent billions on bailouts. Now it looks like General Motors and Chrysler will need another bailout. We’ve spent about $200 billion on propping up AIG. Don’t hold your breath waiting for us to get our money back on that. … Continue reading

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Three Weeks In A Row Mortgage Rates Rise

They have been at record lows, but few economists expected that to last. With the federal government running massive deficits, there’s competition for money which drives up its price aka interest rates. By historical standards, mortgage rates are still extremely … Continue reading

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Federal Reserve Chief Ben Bernanke Pushes Congress For New Regulation

I assume Ben Bernanke particularly wants more regulatory power in the hands of the Federal Reserve. Regulators love their power! Ben Bernanke has told Congress it needs to bring new regulation to prevent another credit meltdown. Bernanke by ideology is … Continue reading

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Did Big Lenders Employ Deception?

That’s what a House committee is looking into. The politicians would love to blame someone other than themselves for the economic collapse. I am sure they will be able to uncover some deceptive practices, but if lenders used wholesale dishonest … Continue reading

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Home Sales At Two Year High

They’re driven by an income tax credit which is due to expire and record-low mortgage rates. Underneath that, the housing market looks weak. Three months of stability don’t seem so impressive compared to the plunge of the past two years. … Continue reading

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Obama’s Consumer Agency Not Looking So Strong

Barack Obama promised American consumers a new agency that would look out for their interests. A new agency that would regulate lenders such as banks and credit card companies. Make sure everything was on the straight and narrow. Yes, more … Continue reading

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