Hurricane Lilli

Katrina anniversary marked as Hurricane Earl gathers force

The fifth anniversary of Hurricane Katrina hitting New Orleans was recently observed, but on that most auspicious occasion, another tropical storm is currently building off the Gulf Coast. Tropical storm Earl was re-dubbed Hurricane Earl, as it has graduated to a hurricane force storm system. The hurricane is building in the Caribbean, and it is
Credit report

Selling credit reports to payday lenders gets Teletrack fined

Credit reporting agency Teletrack, which specializes in subprime credit reports, has been fined by the FTC for selling credit reports illegally. The agency was found to have sold credit reports to payday loan lenders and has to pay $1.8 million in fines to the Federal Trade Commission. Company cited for selling credit reports for marketing
A US Immigration Official.

Controversy erupts over Arizona Immigration bill

The recently passed Arizona immigration measure, Arizona Senate Bill 1070, has ignited a firestorm of controversy.  Opposition from Latino members of Congress to the clergy have decried the bill as tantamount to making racial profiling not only legal, but de facto policy for Arizona police.  The state of Arizona is among the hardest taxed states
YouTube logo

Jared Loughner YouTube channel gives insight into disturbed mind

Since the deadly Tuscon shooting incident, thousands have been viewing accused perpetrator Jared Loughner’s YouTube channel. The channel on YouTube, under Loughner’s username Classitup 10, has three videos, which feature sparing background music and text. The videos are being used as evidence of Loughner’s disturbed mental state. Thousands view Jared Louhgner YouTube page after shootings
A 401k fund

Automatic 401(k) enrollment plans less effective than opt-in

A survey recently found that laws allowing employers to automatically enroll employees in 401(k) plans don’t work as well as was hoped. When workers automatically contribute to a retirement plan unless they opt out, they will often put in less than they would if they chose to start a plan. Automatic contributions fall short of
Rocket Launch

Two Federal Reserve banks want higher rates on emergency loans

Throughout the recession, the Federal Reserve has kept overall interest rates hovering near zero, in order to keep deflation or further inflation from taking place. The 12 regional Federal Reserve Bank directors recently met, and one of the items for discussion was concerning the discount rate on emergency loans. A discount rate is basically the

Coconut Crab | Egad!

I’d give payday loans to keep these things away! Occasionally, if you watch Google Trends, people search for things that are sort of interesting, like zoology – which is a form of knowledge.  (You don’t see it often – most of the time Trends searches are about some less than intelligent event concerning so called
Biohazard symbol

Johnson & Johnson swallows a bitter pill as FDA closes plant

Drug maker Johnson & Johnson has encountered yet another setback. The Food and Drug Administration has temporarily shut down a medicinal manufacturing plant in Lancaster, Penn.  The plant failed an inspection and will remain closed until the plant is restored to satisfactory condition.  Johnson & Johnson has already suffered some high profile setbacks over the
Airport Screening

TSA screening could result in terrible public backlash

The new Transportation Security Administration guidelines, and the TSA screenings and pat-downs, are not popular with a lot of people. There have been some serious transgressions by screening personnel since the guidelines debuted. This does not mean every TSA screener is out to abuse the public. Workers conducting TSA screening deserve some sympathy Since the
Rabbit eating

Is the Flat Belly Diet a miraculous cure for flab?

Dieting has become a new national pastime.  Many fad diets have come about, such as the South Beach Diet, the Atkins Diet, the Gullible Enough To Buy This Stuff Diet and now the Flat Belly Diet. A miracle way to make yourself Hollywood skinny has been sought for years, just like the Northwest Passage, and

Experian adding renter history to credit scores calculations

Credit score bureau Experian is now including renter history in its formula for adding up credit scores. Previously, only negative marks on a renter’s history, like evictions from non-payment, were added. Now positive marks will be added. Pay the rent on time and do some credit repair Credit bureaus typically do not factor renter’s history

Massive blizzard threatens to bury Chicago and Midwest in snow

A massive winter storm system is currently threatening the Midwest region. The city of Chicago could receive the worst of the storm with more than a foot of snow, and wind gusts of 50 miles per hour or more are anticipated. Whiteout conditions are possible. Massive storm system bearing down on Midwest The Midwest region
A Sprint smartphone

Google to unveil its own near-field mobile payment system

Google has announced it will unveil its own mobile payment system that will allow people to use their cell phones in lieu of a wallet. Google is launching its own near-field communication technology, which uses a chip mounted in a phone that is read by a sensor and linked to a bank account. Google is
For Sale sign

Mortgage loan closing costs on the rise

One of the costs of a mortgage loan is the closing costs, or the fee you pay when you finally pay your mortgage off or sell your home. The costs can be considerable, and the average closing cost nationally is several times more than the average payday loan. The average amount of a closing cost
Mother Duck and Ducklings

Proposed consumer protection agency to target lenders

In the wake of the Wall Street collapse and the ongoing investigation of Goldman Sachs, there are calls for a consumer protection agency, or multiple ones. There seems to be a real need for some financial reform, but which consumer protection laws should be put forth are a point of contention.  Part of the proposed

Vote on health care bill set for Sunday

The fight over the health care bill in the House of Representatives continues, and the bill is set for a vote on Sunday. The current bill was sent to the House by the Senate, and the House will require 216 votes in order to pass it, and that is what House Speaker Nancy Pelosi (D