Category: Budget & Debts

Wall Street Examines Delinquent Loans

Chief Executive Officer of the distressed loan buyer, Kondaur Capital Corporation, Jon Daurio said recently, Wall Street firms are very likely to package a bunch of delinquent loans into securities, in order to satisfy higher yields demanded by investors. Developing residential mortgage-backed securities, with “non-performing” loans is the latest plan to emerge from a stale […]

Signs of Economy Revitalization According to Bankers Survey

A recent survey taken of rural bankers in ten Midwest and Plains states shows signs of a revitalized economy. The overall index jumped to 54.3 in May from 44.2 in April. Last year’s May index was 36.2. When the number is lower than 50, this means the economy will contract within the following couple of […]

Pinehurst Bank Joins Long List of Closed Banks

Recently, in St. Paul, Minnesota, regulators shut down Pinehurst Bank, making it the 73rd FDIC insured bank to close, and the sixth in Minnesota this year alone. And with this closing, the number of failed banks has more than doubled what it was in May of 2009. The FDIC has a list of another 73 […]

Banks Require Bigger Capital Buffers According to San Fran Feds

Researchers from the San Francisco Federal Reserve Bank all agreed recently, banks need large capital buffers in order to protect themselves from unexpected loan losses, such as those felt from the current downturn. Lenders typically sock away money in order to cover any future losses, based upon past mortgage and other loan performances. As of […]

What to do When Sued for Credit Card Debt

Most people don’t choose to fall into debt of any kind, especially credit card debt.  Through the clever marketing tactics of credit card companies, people continue to abuse their credit cards until they can’t pay even their minimum monthly balance.  In general, when most people have the money to pay their bills, they want to […]

Senate Approves Two Amendments to Financial Regulation Reform Bill

The Senate has recently approved two amendments in effort to protect taxpayers from ever having to bailout Wall Street…again. Receiving an overwhelming 96-1 Senate vote, Democratic Senator Barbara Boxer’s amendment states plainly, taxpayer funds cannot be utilized to bailout firms. And the joint effort of Republican Senator, Richard Shelby and Democratic Senator, Christopher Dodd; a […]