Help The Middle ClassNews and Information For The Heart Of America
ONE MORE REASON BARACK DOESN’T GET IT: Pres Is ‘Cool’ With Big Executive Bonuses At JP Morgan Chase (Bloomberg.com)
President Barack Obama said he doesn’t “begrudge” the $17 million bonus awarded to JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon or the $9 million issued to Goldman Sachs Group Inc. CEO Lloyd Blankfein, noting that some athletes take home more pay.
The president, speaking in an interview, said in response to a question that [...]
Consumers Cut Back on Plastic, As Banks Increase Rates And Penalties
Consumers have embraced the virtue of living within their means, but not always by choice. Banks have tightened credit, raised interest rates and fees on credit cards and increased bank fees to record levels.
The changes have angered millions of consumers, who have responded by paring back their use of credit. In the past week, for [...]
The New Credit Card Laws Won’t Help You As Banks Increase Rates Now
Americans have a complex relationship with credit cards.
They love the convenience of plastic, especially if they need to rent a car or bail an errant relative out of jail. But they detest many credit card company practices, such as raising interest rates for no reason, lowering credit limits or slapping on hefty fees.
These practices have [...]
Buyer Beware!!! 5 Real Estate Markets Still Failing Badly
Home buyers looking for a bottom in the real estate market may have been encouraged by housing data released earlier this week. Sales of existing homes rose 2.4% in May, according to the National Association of Realtors. The increase was a little less than most analysts had expected, but it represented the second straight month [...]
The Plight Of Small Business Owners
If the senior Wall Street bankers and Washington decision makers who can move billions of dollars with a single conference call want to understand what is truly happening in the economy, they should sit down with small business people like Peter Elliot, the owner of a clothing store in New York City for the past [...]
White House Economic Advisor Summers Says, Obama Will Look at Credit Card Rates
President Barack Obama will soon turn his attention to high credit-card rates, giving a potential boost to congressional efforts to put limits on the industry.
The president is “going to be very focused, in a very near term, on a whole set of issues having to do with credit-card abuses,” White House economic adviser Larry Summers [...]
Credit Cards: Can’t Pay Your Minimum? Here’s What To Do
Dear Debt Adviser,
I am having trouble making the minimum payments on all my credit cards. What will happen if I pay less than the minimum payment? [...]
Banks Ramp Up Foreclosures. Where is The ‘Glimmer Of Hope’ Mr. President?
Editor’s Opinion: Despite President Obama’s upbeat message yesterday (4/14) no amount of ‘glimmers’ will prevent the banks from moving forward on their massive foreclosure plan unless the president and his men really apply some tough restrictions on the Banks and Wall Street – the same kind of tough restrictions they’re trying to impose on [...]
“I’m Buried in Debt”: How To Survive A Recession
Laurie Redmond thought she was making a smart decision when she quit her job in 2005 to become a mortgage broker. Her company, a large bank, had recently been bought out, and layoffs were imminent. Rather than compete with hundreds of other job seekers in the same profession, she says, “I jumped ship before I [...]
Obama Supporter Billionaire Soros Says Bank Plan ‘Wrong’
George Soros was an early and avid supporter of Barack Obama, so it’s probably no surprise he gives the President high marks for his handling of international affairs, the stimulus package, the budget (the famed financier calls it “very courageous”) and for “stabilizing” the financial crisis.
But President Obama “lost a great opportunity” by not taking [...]
