August 21, 2009 – 1:06 pm
Megan McArdle at The Atlantic is currently working on a long feature piece about consumer borrowing. But since the article won’t be out until early 2010, she has given us a taste by sharing an interesting observation about people who walk away from secured debt. A secured loan, if you’re unfamiliar, is one backed by collateral, [...]
August 18, 2009 – 4:26 pm
Today we hosted our first webinar: What is a Credit Default Swap Anyway? The Financial Crisis for Capitol Hill Staffers. We had a great group for the presentation (check out the presentation here). For those that were interested and unable to attend we will be hosting a make-up session on Tuesday, September 1, 2009 at [...]
August 14, 2009 – 3:08 pm
Suffice to say, a trillion of anything is a lot. Since most people we’ve talked to aren’t entirely clear on how big it really is, for visual learners (like myself) we put together these graphics to illustrate the enormity of a trillion dollars. Want more visualizations? MightyBargainHunters.com has even more ways to wrap your head [...]
With a number of states still working out budget plans for next year, lawmakers are looking ahead to the cuts that are likely to take place when federal stimulus money runs out. Many states have relied heavily on stimulus funds, with Texas allotting almost 97 percent of its stimulus money to help patch budget gaps: [...]
Personal finance site Mint.com has a great new video illustrating how much money a trillion dollars really is, and what you could buy with it. My personal favorite: With a trillion dollars, you could buy a $3 latte every day for 900 million years. [youtube]http://www.youtube.com/watch?v=at3MNu8BRwQ[/youtube]
Along with the increasing number of high school and college classrooms that are incorporating personal finance into their curriculum, many community groups are also finding ways to offer lessons in economic education. In Missouri, the Boys and Girls Club of West Central Missouri puts financial lessons into practice with its “club bucks” program. The members [...]
With banks and credit card companies collecting more money than ever from customers, the Center for Economic and Entrepreneurial Literacy reminds consumers that “economic illiteracy is at the heart of our current economic crisis.” A CEEL survey conducted in December of 2008 found that a majority of those surveyed were unable to answer simple questions [...]
There are increasing reports that some couples are putting off marriage and having kids until the economy improves. Though strained finances and a bad economy can break some families apart, 4 percent of people surveyed say despite being unhappily married, they are holding off on divorce because of the economy. The survey–conducted by FindLaw.com–also found [...]
A new study predicts that the credit card industry “will continue to provide one of the most lucrative returns…within banks’ portfolios.” Though President Obama signed into law new regulations on credit card companies in May, many companies in the industry continue to report strong profits. The analysis comes from Keefe, Bruyette, and Woods (KBW), an [...]
The Commerce Department has reported that people are responding to the stimulus package’s tax cuts by putting away more money for a rainy day. In May, the personal saving rate soared to 6.9 percent — the highest level seen since December 1993. It’s an encouraging turnaround from the nadir of the housing bust, when the average [...]
