Credit Cards Newest Area of Potential Problems for Banks
Banks and credit cards
Banks have suffered through the recession with huge mortgage industry defaults, but a new fear that credit cards will do the same is looming. Ken Lewis, Bank of America CEO, stated he believes that despite the government’s $700 billion rescue program, it will be “an awful year” [...]
New Economic Signs: Rays of Hope?
Economic Indicators Are Rising . . . and Confusing
Production is on the rise
If you need easy loans just to make it from paycheck to paycheck, and even then you could still use some extra cash, take heart. Recently there have been hopeful signs that the current recession is coming [...]
The Ups and Downs of Unemployment
Unemployment is up or down depending on your point of view
The number of initial unemployment claims edged up last week, but the number of ongoing claims fell for the first time since January. According to newly released Labor Department data, 608,000 initial unemployment claims were filed in the week ending [...]
The Economy: How Hopeless is It?
The GDP continues to decline
According to preliminary estimates released by the Bureau of Economic Analysis, real gross domestic product — the output of goods and services produced by labor and property located in the United States — decreased at an annual rate of 5.7 percent in the first quarter of [...]
Credit Card Company Comeuppance
Lawmakers want to reign in credit card lender abuses
Credit card companies are bracing for tough new consumer-protection rules. Under a compromise bill that garnered bipartisan support in the senate recently, credit card companies would be sharply restricted from raising rates or imposing new fees on cardholders who stay current [...]
Google Public Data and Government Transparency
Get the skinny with Google Public Data
You’re online, you Google. It’s nearly as much of a given as breathing. Unless you’re one of those Yahoo! only people… you know who you are. But are you using the search tool to its ultimate capacity? It can have a big economic impact [...]
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