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Last year there were more bank closures than there were in 2009, which was a horrible year. The last time I talked about bank closures, which was around the middle of February, there were 18 closures, and by the end of the month there were 23 for the first two months of the year. Since [...]
Early last year, many Republicans were trying to put the blame for the housing crisis on Rep. Barney Frank of Massachusetts. That’s because Frank was a strong supporter of affordable housing for all, especially those people who at the time couldn’t afford to buy homes. What happened? Banks came up with unique ways for those [...]
This week started the new administration of around 37 governors. Why anyone would want this job right now is astounding because there isn’t a single one of them walking into a pleasant situation. Every state is in financial distress. Most governors got elected promising things that there’s almost no way they can sustain. No new [...]
It seems that Visa and Mastercard are lamenting the old days of being able to stick it to, well, us. That’s because a new law will eliminate many of the fees they’ve been adding to transactions for years, which have driven up prices, in essence saying they’re frivolous and not needed for the reason these [...]
Over the last 3 years there have been a lot of foreclosures across the United States. Some states have been decimated by this, and it’s taken the housing industry down as well. I have stated many times in many places that I believe the banks caused this problem; now it seems I may finally be [...]
If ever there was an obvious headline, the one above is it. The housing industry is in trouble, and it doesn’t look like there’s going to be a fix any time soon. So what’s going on? We’ll start with the news that existing home sales are at their lowest level in 15 years, down 27% [...]
I’ve been on this minor rant for a few months against credit scores and some of the things financial advisors have been telling people in regards to making sure their credit scores don’t fall by cutting up credit cards. They’re telling people not to do this, even as banks have been jacking up interest rates [...]