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During the recession, the phrase “too big to fail” became part of the cultural lexicon. It was on the news every night, on the front page of newspapers, and part of the general discussion both in Washington D.C. and on Wall Street. But what exactly does the government or the media mean when they suggest [...]
When we look around the world of point of sale lending, mainly credit cards, we tend to notice a lot being said about balance transfer credit cards. So, what are balance transfer credit cards, where did they come from and why is there such a debate over balance transfer credit cards? I’ll answer all of [...]
It’s hard not to dump on Bank of America, so I’m not even going to try to stop myself. If anyone ever needed to feel better about themselves, all they need to do is look at the mess that always seems to come at their expense. One of the largest banking systems in the world [...]
Last week Moody’s Investment Service decided to downgrade the credit rating of 15 large banking systems, which included JPMorgan Chase, Bank of America, and Goldman Sachs. Basically it limits the bank’s options to borrow money so they can use the money we put into them to, well, play the market and do pretty much anything [...]
I’ve spent a lot of time over the past few years lambasting the large banks. Overall, I’d have to say that I didn’t beat up on J.P. Morgan Chase as much as I did some of the other banks, although I did talk about them in a post back in 2010 titled J.P. Morgan, The [...]
Many of us are already very familiar with the dos and don’ts associated with credit cards. You probably already know the importance of using low interest rate credit cards and practicing smart spending and budgeting habits as they relate to credit. But how many people are really familiar with the ins and outs of their [...]
Most businesses know that they should have business bank accounts as well. Independent consultants might not think about it as often, but it’s important that they also have business banking accounts to help them with cash management and a host of other benefits. For instance, years ago I was out of town on a consulting [...]