• explainers

    Blame The Subprime Meltdown On The Repeal Of Glass-Steagall

    A lot of blame has sloshed around for the sub-prime meltdown, from greedy borrowers to greedy mortgage brokers to Alan Greenspan, but if you want the real culprit, it was the repeal of the Glass-Stegall Act. On November 12, 1999, the champagne must have been shooting from the walls at Citigroup, which had worked behind the scenes for over 30 years to get the act overturned. After recovering from their hangover, they and their banking buddies went on a sub-prime lending orgy. But what was Glass-Steagall and how did it use to protect us? More »

    Feature

    2:47 PM on Thu Apr 17 2008
    By Ben Popken
    21,228 views, 89 comments

    Latest by mookiemookie: CRA had very little to do with why we're in the mess we're in. Robert Gordon goes into it all more »

  • textbooks

    NYT Editorial Board: Hey Congress, Textbooks Are Too Expensive!

    The New York Times editorial board called on Congress to make college textbooks more affordable. The measure they endorsed wouldn't do anything Soviet like directly cap prices, but it would require textbook makers to tell professors exactly how much books would cost impoverished students. More »

    2:10 PM on Sat Apr 12 2008
    By Carey
    6,119 views, 126 comments

    Latest by RvLeshrac: @Eyebrows McGee: Except that literary commentary hasn't advanced. At all. I'm a fan of the Twain approach to "literary analysis" anyway. The more »

  • dc

    DC Tickets And Tows Stolen Car, Releases It To Thief, Then Sends Collection Agency After Owner

    Steve Steinberg refused to pay a parking ticket issued after his car had been stolen, so the Washington, DC Department of Motor Vehicles sent a collections agency after him. Steinberg's car was stolen in September of 2006. After he reported the theft, Steinberg says, the DC police and DMV ticketed his car, towed it, then released it to the thief. More »

    11:37 PM on Wed Apr 9 2008
    By Alex Chasick
    14,578 views, 72 comments

    Latest by bnorton: Are we sure Steve just didn't report the car stolen so he can get free parking? It's almost as more »

  • deckchairs on the titanic

    Treasury Secretary Calls For Supercharged Fed, Streamlined Regulatory System

    Treasury Secretary Henry Paulson wants to consolidate the nation's financial regulators into a tripartite gang that can save the economy from distress and doom. The plan to give the Federal Reserve broad new regulatory powers and streamline the regulatory community has been in the works since last March, before the start of the subprime meltdown. Paulson is worried that the U.S. markets are no longer competitive with maturing world markets, some of which aren't hampered by nuisances like regulation. After the jump we'll explain the consumer impact of the plan and introduce you to your three new regulators. More »

    Feature

    4:38 PM on Sat Mar 29 2008
    By Carey
    3,862 views, 46 comments

    Latest by Charles Duffy: @Mr. Gunn: That's not to say that all risks are the same, or that people don't have the ability (when more »

  • amazing savings

    Travel Between New York And Washington For $1 With BoltBus

    BoltBus offers service between Washington D.C. and New York with fares starting at $1. Each ride comes not just with WiFi, but with power outlets at every seat—a luxury usually confined to Amtrak. The downside? (There are several.) More »

    12:45 PM on Sat Mar 29 2008
    By Carey
    17,191 views, 43 comments

  • you've got mail

    Economic Stimulus Reminder Notes Are Here!

    We recently received our "Economic Stimulus Payment Notice," and it seems worth far less than the $41.8 million the Treasury spent on printing and mailing. The letter contained no surprises, but did extend the tantalizing possibility that we would receive "a notice and additional information shortly before the payment is made." Check out the full letter and a handy eligibility chart, after the jump. More »

    1:55 PM on Sat Mar 22 2008
    By Carey
    9,899 views, 55 comments

    Latest by autoclavicle: @supremecourtjester: Actually, it's not taxable. more »

  • fairness

    Credit Card Victims Muzzled, Ordered To Release Financial Histories Before Sharing Their Experiences

    Four credit card victims were ordered to sign waivers allowing their creditors to release their private financial records to the public before they could testify before the House Financial Services Committee. The consumers had flown in from across the country to share their stories at a hearing on the Credit Card Bill of Rights, but credit card companies insisted—and Republicans and Democrats agreed—that it would only be fair to release documents like credit scores and a list of recent purchases in order to rebut the consumer's claims. "Fair is fair," Congressman Spencer Bauchus (R-AL) barked, as he defended the absurd request. Ultimately, the consumers didn't testify, but one invitee, Steven Autrey, released his prepared statement, which slams creditors for their abusive and predatory business practices. More »

    3:43 PM on Sun Mar 16 2008
    By Carey
    11,949 views, 85 comments

    Latest by BugMeNot2: @silentnight913: as far as I can tell, USAA is only for military members and their families? No, Congress men may join more »

  • product safety

    Senate Votes For Safer Products, Approves Consumer Product Safety Commission Overhaul

    The Senate finally voted last week to send the ailing Consumer Product Safety Commission desperately needed funds, staff, and powers. The overdue reform bill passed with bipartisan support on a 79-13 vote. More »

    1:34 PM on Sat Mar 8 2008
    By Carey
    2,095 views, 25 comments

  • polls

    The Treasury Secretary Hates The Penny. Do You?

    Treasury Secretary Henry Paulson hates the penny because it is a worthless dingleberry of a coin. In an interview sure to have kids thinking they know enough to run the Mint, Paulson simplistically noted: "The penny is worth less than any other currency." Don't sing the penny's swan song just yet.

    ...he quickly added that he didn't think it was "politically doable" to eliminate the one-cent coin and it wasn't something he planned to tackle in the final year of the Bush administration.
    Great, add the penny to the slate of issues over which the parties disagree. Put it right next to war spending and social security.

    Is the penny the most useless coin ever, or an indispensable cog in our $.99 economy? Vote in our poll, after the jump. More »

    10:37 AM on Sat Mar 1 2008
    By Carey
    12,914 views, 126 comments

    Latest by peteyale: So I'm an American living in Santiago, Chile, and the Chilean Peso is worth 1/5 of a penny. Most things more »

  • compassion

    The Administration's New Subprime Mitigation Plan: Take 30 Days To Pack Your Bags

    The compassionate conservatives helming our government have an ingeniously simple new plan for homeowners facing foreclosure: take 30 days, pack your bags, and then get the !@#$ out. More »

    11:30 AM on Sat Feb 23 2008
    By Carey
    9,770 views, 129 comments