Category Archives for "Credit Crunch"

Kids and Money — November 26, 2009

More of my catching up…

Chris McClelland presents How social networking sites can also help you save some money posted at Lucrative Investing.

jim presents Best CD (Certificate of Deposit) Rates posted at Blueprint for Financial Prosperity.

Ben Dinsmore presents Reduce Your Hot Water Bill with this One Simple Tip! posted at Trees Full of Money, saying, "While washing oatmeal off my 10 month old's face this morning, I came across an effective way to save on hundreds of gallons of hot water each year!"

Billeater presents Ten Ways to Save Money During Pregnancy posted at Billeater.

Stingy Student presents Best Amazon.com Discount Sale – 90% off for Back To School Shopping posted at Stingy Students, saying, "Get up to 90% off at Amazon.com for back to school shopping!"

Silicon Valley Blogger presents How To Improve Your Credit Score: A 6 Step Plan posted at The Digerati Life, saying, "Teach kids about maintaining a good credit score!"

The Smarter Wallet presents How To Consolidate Debt: Ways To Reduce Your Debt Load posted at The Smarter Wallet, saying, "Teach your kids about how to manage debt."

Ray @ Financial Highway presents Canadian Discount Brokerage Review and Comparison for TFSA and RRSP posted at Financial Highway, saying, "Discount Brokers"

Banker Saver presents Sneaky Bank Fees: How To Avoid Those Extra Charges posted at Banker Saver, saying, "Let's teach our kids how to avoid sneaky bank fees that eke away at our savings."

Investing Toolkit presents Dollar Cost Averaging Basics posted at Investing Toolkit, saying, "We explain dollar cost averaging, an important investment principle that everyone should know."

CIT Bankruptcy 5th Largest in US History

Will this ever end? The economy seems like it's in a funk. The patient is recovering from cancer, only to find out that it has heart problems. What's next? TERMINAL brain damage.

CIT files for bankruptcy as part of reorganization plan – Nov. 1, 2009

CIT files for 5th largest U.S. bankruptcy
Small business lender seeks court approval for a debt reorganization that has approval of bondholders.

JP Morgan Chase Up on Earnings Report

Banks, insurers head higher – MarketWatch

A quartet of top U.S. bank stocks rose on Wednesday after J.P. Morgan Chase & Co. reported earnings that surpassed Wall Street estimates, and the insurance sector also weighed in with gains to lift financial stocks more than 2%.

I suggest that the management at JPM horde all that cash, as the next big mortgage resets occur in 2012 (5 years after the peak of 2007, when everybody and their mother, dog, parakeet, and gerbil bought houses with no money down, poor credit, and insufficient income).

Now that many of those same people are now either unemployed or still making less money than their mortgage payment, the pressure is going to be HUGE on the housing market, banking sector, and overall economy. Let’s hope the news that the economy and employment pictures are improving, else we fall into a really nasty tailspin. Let’s also hope I’m wrong about the resets (here’s the good personal news: my mortgage from 2004 reset at a lower interest rate).

Mortgage Meltdown Meets Credit Crunch

Geez, it’s about time!

Senior administration officials pressed executives from the nation’s largest banks Tuesday to speed help to distressed borrowers after a frustrating start to the government’s foreclosure-prevention effort and set a goal of more than doubling the number of homeowners receiving aid by November.

U.S. Asks Banks to Speed Up Mortgage Modifications for Troubled Homeowners – washingtonpost.com
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