Banks Shut Down in Nevada and Illinois | Total Closures This Year 16
Nevada Security Savings Bank shuttered
Only two months into the year, already 16 banks in the United States have been shut down. Nevada Security Savings Bank closed its doors Friday.
Regulators shut down the bank and turned deposits over to the Bank of Nevada, based in Las Vegas. Security Savings Bank had $175.2 [...]
The Royal Bank of Scotland Lost Great Gobs of Money
The Royal Bank of Scotland makes the Guinness Book of Records
Remember all those jokes we used to hear and tell about the Scots and the way they thought about money? It seems we were way off course. The Royal Bank of Scotland has just earned the dubious honor of posting [...]
Republicans Lash Out at Budget Plans
Stage is set for budget battle
Republicans are once again throwing around the s-word — that’s right, socialism.
Of course, the rhetoric is aimed at President Barack Obama’s budget plans. With $410 billion dedicated to spending on government programs and a push for universal health care, it’s to be expected.
Harsh words
It’s been [...]
Bank Gives Bailout Money Back | What’s the Story Behind TARP?
Thanks but no thanks
IBERIA Bank, a Louisiana company that previously accepted $90 million in government aid, says it will now give the money back. Changes to the Troubled Asset Relief Program would put the bank at a disadvantage, said Daryl Byrd, the bank’s chief executive.
Regulations
It’s true, there are a lot [...]
Center For Responsible Lending: Subprime Hypocrites
Subprime economic destroyer
America has entered an economic depression. Much of the blame for this depression can be placed squarely upon the shoulders of mortgage lenders who chopped their way into the subprime market with a hatchet called optional adjustable-rate mortgages.
These types of loans were incredibly destructive to borrowers because they allowed homeowners [...]
Key Principles of Internet Marketing
Internet Marketing?
Internet marketing is about giving rather than getting. Internet marketing also exploits the networking capabilities of the Web by leveraging online community activities, linking, affiliate marketing, viral marketing, email marketing, and loyalty programs.
Products and Services
Internet marketing is best suited for:
Products and services that require a lot of information [...]
Scam Watch: Don’t Get Duped into Fake Mortgage Relief
Bad news: It could be worse
It’s cruel, but true: Scam artists view struggling homeowners facing foreclosure as money-making opportunities.
There are lots of organizations out there right now trying to help modify loans for people who can’t keep up with their mortgage payments. Unfortunately, there are con artists out there imitating [...]
Affiliate Marketing on the Web
What is affiliate marketing?
Affiliate marketing is about paying for performance. In short, it is a type of marketing in which one merchant induces others to place banners and buttons on their Web sites in return for a commission on purchases made by their customers.
Amazon.com
Amazon.com is the pioneer of affiliate [...]
Freakonomics | Strange Side Effects of the Recession
Desperate times
We’ve all seen the stories about unemployment, saving money, companies doing huge layoffs and low consumer confidence. These and many other stories are the predictable fallout of a struggling economy.
However, today I came across a few stories that fall outside the lines.
Toilet tender
I have written previously about U.S. Airways [...]
Latham & Watkins lays off 440 | Death of Big Law Firms?
Legal giants slashing and burning
David Lat and Elie Mystal of the legal blog Above the Law report that the worldwide legal firm Latham & Watkins have laid off 440 employees (190 associates, 250 staff). According to Above the Law, Latham & Watkins managing partner Bob Dell announced the layoffs via [...]
U.S. Troop Withdrawal From Iraq Complete by 2012
Stand down. Homeward bound.
Families want to see their loved ones again. Children deserve fathers and mothers. American troops in Iraq will be coming home. There will be a complete U.S. troop withdrawal from Iraq.
Karen DeYoung and Anne Kornblut of the Washington Post report that President Obama will announce plans to [...]
More Details on Obama’s Budget Proposals
Changes to agriculture
President Barack Obama revealed his budget proposals yesterday. The 2010 budget increases funding for the Agriculture Department to $26 billion. However, it also decreases funding for some programs that have been around for a long time.
No more farm subsidies for some
Over the three years that begin in September, [...]
New California Gold Rush-the Housing Market
The global recession
Everything is deteriorating. The stock exchanges that we thought would be down for a couple of months before they drag themselves back onto their feet, have stayed down. For some reason nothing induces them to get going again. The housing market is a disaster, the auto industry is [...]
Great Depression Cooking with Clara – Saving You Money
Be frugal, be fed during latest Depression
OK, can we really hide this anymore? We’re in a depression. That’s why it’s very important that we find any means necessary to make our dollars stretch. That’s what 93-year-old Clara Cannucciari has been doing since America’s last Great Depression.
Lindsay Goldwert of ABC News [...]
Tips for Tax Time | Know the Rules, Avoid an Audit
Better safe than sorry
You may think that with all of the other problems the government is dealing with they don’t have time to worry about whether you did your taxes right. However, the opposite is true.
In the last 10 years the IRS has more than doubled the amount of audits [...]
Marketing your Business: Becoming #1
How to be # 1 in your business
It is a misconception to believe that you have to have a better product or service to be number one in your business. However, if you are number one, people believe that you have the best product or service.
Start a new category
So, how [...]
Save Fruits, Vegetables and Money with Proper Storage
Keeping food fresh can save cash
We all have great intentions when we fill our carts with fruit, vegetables and other fresh, healthy groceries.
However, according to a study by the University of Arizona at http://abcnews.go.com/GMA/Consumer/story?id=6951820&page=1, average American households throw out a quarter of their fruit and vegetables. That adds up to [...]
General Motors Bleeding Cash: A Blow-By-Blow
General Motors: building better cash coffins
Joe Weisenthal of The Business Insider reports that General Motors is officially America’s “national money pit.” The automaker is bleeding cash at an astonishing rate. One wonders when they’ll file for bankruptcy, particularly after posting a $9 billion loss in the fourth quarter of 2008.
That [...]
Why It’s a Good Time to Buy a Car
Low prices, stimulus aid add up
If you are one of the few lucky Americans who is in the financial position to consider buying a car, now is a great time to do it.
Between automakers’ eagerness to bring in money and the various incentives in the economic stimulus package, you could [...]
President Obama Plans Student Loan Overhaul for 2010
No more kickbacks
Financial institutions that enjoy entitlements for lending to students may have met their Waterloo if President Obama has his way.
Kevin Drawbaugh reports for Reuters UK that the president’s 2010 federal budget includes a proposal that would completely restructure student lending as it stands. The share price of large-scale [...]
Loan Modification
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