Credit

Stock Market Pleased By New Phase Of Bailout

Today the Federal Reserve announced the creation of a new special purpose entity that will buy consumer and business debt. Under the new plan, the Treasury will provide $20 billion dollars in of credit protection (from the Troubled Asset Relief Program) — and will absorb most of the losses, should they occur. More »

10:58 AM on Tue Nov 25 2008
By Meg Marco
4,406 views, 62 comments

Most discussed Trai_Dep: I recognize that the Free Market Fundamentalists screwed things up so incredibly badly that we're forced to nationalize vast swaths more »

credit card debt

Attention: Credit Card Companies Have Realized That You Are Broke

The New York Times has an article detailing what promises to be the next fun financial crisis — credit card debt! Apparently, credit card companies have only just now realized that you people are broke! Whoops. More »

12:48 PM on Wed Oct 29 2008
By Meg Marco
27,676 views, 117 comments

beware

Yet Another Reader Scammed By FreeCreditReport.com

Here it is folks, your semi-annual reminder that FreeCreditReport is not free. Free credit reports can be found at AnnualCreditReport.com. FreeCreditReport.com is a pay site. As in you will be billed. As in not free. More »

11:52 AM on Thu Oct 16 2008
By Meg Marco
20,037 views, 131 comments

money meltdown

Hold On To Your Hats And Sunglasses, Here Comes The Credit Card Meltdown

We hope you're enjoying our current economic roller coaster because it's likely to continue — According to a new report from research firm Innovest Strategic Value Advisors, titled "Credit Cards at the Tipping Point," the fun has only just begun. As the credit crunch begins to affect consumers, they're going to have more difficulty paying their credit card bills. The report suggests that credit card companies' misleading practices and cavalier extension of credit may come back to bite them. Who should be worried? Capital One. More »

10:59 AM on Thu Oct 16 2008
By Meg Marco
24,203 views, 85 comments

Most discussed AugustaCassiopeia: Sadly, the folks that are paying their cards on time, every time, get to enjoy the "benefits" of having their more »

money meltdown

Government May Begin Buying Bank Stock Within Weeks

As it is now apparent that the credit crisis has spread to the global economy and has not been contained in any way, the Bush Administration is considering an option included in the $700 billion dollar bailout package that would allow them to invest directly in banks — buying preferred stock in exchange for a "cash injection." White House spokesperson Dana Perino said taking partial ownership of banks and other moves associated with the financial rescue plan would not be “part of [Bush's] natural instincts,” according to the NYT, but acknowledged that the situation has gotten sufficiently dire as to warrant a change of heart. More »

3:51 PM on Thu Oct 9 2008
By Meg Marco
2,595 views, 49 comments

Most discussed Bladefist: I saw this on drudge this morning. And I just want to say, to all those who I've debated with more »

predatory lending

Car Title Loans Are Liable To Leave You Taking The Bus

You surely already know better, because you're a loyal Consumerist reader, but stay far, far away from the form of legalized usury known as car title loans! CNN has published an overview of the industry, noting that APRs frequently exceed 200%, and that added fees and loan "rollover" options help keep borrowers in a cycle of debt. More »

10:35 AM on Wed Oct 8 2008
By Chris Walters
5,298 views, 30 comments

Most discussed Saeculorum: If there was no need for loans like these, they would not exist. It is not possible to create a more »

dick fuld is punched

Lehman Brothers CEO Got Punched In The Face

Dick "It Wasn't My Fault" Fuld, the CEO of bankrupt investment bank Lehman Brothers, (seen here being heckled after testifying on Capitol Hill) was apparently punched in the face while working out in Lehman gym on the Sunday following the bankruptcy, according to CNBC's Vicki Ward. More »

12:25 PM on Tue Oct 7 2008
By Meg Marco
239,980 views, 172 comments

Most discussed equazcion: I don't know enough about the Lehman collapse to say whether or not he was to blame. But even if more »

money meltdown

What Is Commercial Paper And Why Is The Federal Reserve Suddenly Buying It?

The Federal Reserve today announced the creation of something called the Commercial Paper Funding Facility (CPFF), that will buy commercial paper directly from issuers. So, you're asking yourself, what is commercial paper? Why do I care that the Federal Reserve is buying it? More »

10:14 AM on Tue Oct 7 2008
By Meg Marco
19,567 views, 64 comments

Most discussed snowmoon: Don't blink, you may miss trillions of new dollars being born. While there is substantial credit destruction from hedge more »

personal finance

On The Money's Budget Calculator Helps Guide Your Monthly Spending

On The Money's budget calculator makes it easy to determine how much you should be spending across the seven categories that make up any responsible budget. Regardless of income, tracking and limiting your overall spending is a foolproof strategy for keeping your accounts in the black. Though the percents will vary according to geography and personal situation, On The Money's calculator gives you a quick glance at concrete spending targets that you can compare against your credit card bills and bank statements. Give it a try and tell us in the comments what other tools you use to control your spending.

Budget Calculator [CNBC]

5:30 PM on Sun Oct 5 2008
By Carey
18,712 views, 49 comments

Most discussed homerjay- Smiling politely: This is worthless. There are so many variables in peoples lives that you simply can't say "You should be paying more »

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