Wireless payment network to debut in Salt Lake City

Salt Lake City, Utah, will soon begin experimenting with a wireless payment system in conjunction with three wireless networks. The system, called Isis, is set to debut in 2012 and will use cellular phones to wire payments from a person’s credit or debit line with a bank. Cell phone credit card technology takes another step
Timothy Geithner

Possible end in sight for mortgage giants Fannie and Freddie

Mortgage backing companies Freddie Mac and Fannie Mae could become a thing of the past. An upcoming Treasury report will make proposals about what should be done with the two government sponsored enterprises. One proposal is to let them both go under. Proposed cut of Freddie and Fannie would take years The Department of the
Muammar Gaddafi

Oil prices spike as Gadhafi refuses to leave turmoil in Libya

Political turmoil in Libya has led to an increase in worldwide oil prices. Libya is a major exporter of oil, and unrest in that nation could lead to a drop in the output of oil. Despite a growing number of people calling for him to leave, Libyan ruler Moammar Gadhafi refuses to abdicate his office.
Fannie Mae corporate Headquarters

Bottom drops out of Fannie Mae losses

Mortgage giant Fannie Mae just announced record losses, and the company is asking for another $8.4 billion from the government to stay afloat. Fannie Mae has been in conservatorship — or possessed by the federal government — for some time.  Its losses have grown almost exponentially, and have posted the 12th consecutive quarterly loss.  Clearly,

Crime and cash advances have nothing to do with each other

Claims have been made that when lenders offering cash advances move into an area, crime is sure to follow. There have been many problems throughout history attributed to things that have nothing to do with them. For instance, crime used to be blamed on people drinking alcohol. When Prohibition went into effect, violent crime increased
US Treasury gets money back from General Motors.

General Motors pays back US Treasury

It was recently announced that General Motors has paid the U.S. Treasury back on a portion of the  loans it received in the auto bailout.  General Motors entered Chapter 11 bankruptcy protection, then set about getting back on track.  It paid off portions of the loans with interest far ahead of schedule, so apparently they
Kwame Kilpatrick

Kwame Kilpatrick latest news: He is off to prison

Disgraced former Mayor of Detroit Kwame Kilpatrick has been found guilty of violating the terms of his probation. Part of his probation was that he was required to make restitution payments from earlier court cases, and he failed to make sufficient payments. He was sentenced to five years for violating his parole, and he must
A payday loan store

Installment loan lenders thrive where payday lenders used to

Many states have tried to eliminate payday loan lenders, but it hasn’t eliminated the need for credit from non-bank sources. Some states have new installment loans stores where payday loan stores once existed as other forms of short term credit fill the void. Virginians frequenting pawn shops and title lenders more Many states have passed
Red Roses

Where to get Flowers for Mothers Day

If you aren’t already chock full of Mothers Day gift ideas, you can always buy flowers for Mothers Day. You know Mom would always appreciate it, and you know you should call more often. (Admit it!) There are plenty of specials and coupons all over the internet, which will make it pretty easy to get
Mount Merapi

Relief efforts hindered as Mount Merapi erupts again

Days after a devastating earthquake and consequent eruption, Mount Merapi has erupted again in Indonesia. The second Mount Merapi eruption comes days after the first eruption, which killed more than 30 people in an already battered area. The recent undersea Indonesia earthquake has devastated the area. The quake triggered a tsunami, flooding and a volcanic
Payday loan storefront

Study blames crime rates on payday loan lenders

A newly released study links payday loans to rising crime rates and falling property values. It isn’t the first time that the two things have been connected, but the literature on payday lending has varied between a link existing and not existing. The sum total of the effects of payday lenders may be impossible to
John Kerry

New START treaty close to final vote in Senate

The new START treaty, or Strategic Arms Reduction Treaty, has been approved to be voted on by the Senate. The Senate had seemed to stall on passing the treaty, which reduces American and Russian nuclear arsenals. The START treaty vote was incredibly close. Senate barely ratifies new START treaty The U.S. Senate has passed a

Study finds sugary drinks may increase blood pressure

A recently published study has found a possible link between sugary drinks and an increase in blood pressure. The study found that patients who consumed large amounts of sugared beverages such as fruit juice and soft drinks had higher blood pressure. However, the study doesn’t rule out other dietary factors playing a part. One sugary
Mark Felt

Assange and WikiLeaks part of an old tradition

Julian Assange and WikiLeaks are under a lot of fire for leaking classified documents. It goes without saying that no one should be put in harm’s way for the sake of idealism. That said, there is an American tradition of whistleblowing on a grand scale. Assange and WikiLeaks did as others have There are a lot of
Egypt Protests

Protesters fill Tahrir Square pushing for Day of Departure

Thousands of people have filled Tahrir Square in Cairo pushing for a “Day of Departure” for Hosni Mubarak. Mubarak, the long serving president of Egypt, has said he will not run for re-election in September of this year. His promise to leave office has only intensified the protests against his rule. Protests begin anew in
Rime of the Ancient Mariner

Keeping up with the Joneses now means getting debt relief

Everyone has heard the phrase “keeping up with the Joneses,” and it means doing the things everyone else is doing to keep status. This instinct is what drives people to do things like get flat screen televisions, iPhones, riding lawnmowers and so forth. Well, according to the Federal Reserve, the Joneses are getting debt settlement
Warren Buffett

Warren Buffett defends Goldman Sachs, Ben Bernanke

Over the weekend, investor extraordinaire Warren Buffett came to the defense of embattled investment house Goldman Sachs.  Goldman has been under fire for some time, for the role it played in the Wall Street meltdown and the recession.  Buffet asserted that the fraud allegations and investigations are unwarranted.  He also came to the defense of