Employers Begin Driving Your 401(k) [Wall Street Journal] “Businesses are taking more control of workers’ 401(k)s, retreating from the 30-year experiment with employees running their own accounts.”
money
MoneyGram Agrees To Pay $18 Million Back To Fraud Victims
By 10.20.09
MoneyGram International announced today that it would pay $18 million to the FTC to settle charges it allowed wire fraud to happen between 2004 and 2008. MoneyGram’s press release notes that they disagree with the FTC’s view of the matter, but $18 million is a hell of a lot of money to pay if you don’t think you were in the wrong. The press release from the FTC, on the other hand, provides plenty of detail illustrating MoneyGram’s negligence, as well as the criminal behavior of some of its employees who were in on the frauds.
Citi Mysteriously Closes Scads Of Mastercard Accounts Nationwide
By 10.20.09
Without warning, Citi decided to close a swath of gas-station co-branded Mastercard accounts nationwide. The trouble seems to have started October 15. Quan was one of the affected customers and the credit card company was pretty disingenuous about it when called.
$8000 Credit For New Homebuyers Might Get Extended
By 10.16.09
Washington is working on getting the up-to-$8000 tax credit for first-time homebuyers due to expire in November extended, and perhaps even expanded to current homeowners buying a new house. [AP] (Photo: sflovestory)
TD Bank: Man's $100,000 Misplaced
By 10.15.09
Zach’s $100,000 CD with TD Bank he took out on 10/5 was mysteriously showing a $0 balance and no one seemed able to fix it until we told him what to do. TD Bank PR says it wasn’t related to their clusterfunk of delays that started Sep 28. Zach’s experience says otherwise.
Personal Finance Roundup
By 10.15.09
A Recipe for Riches [Forbes] “Want to become a tech titan or hedge fund tycoon? Up your chances by dropping out of college or going to Harvard and working at Goldman Sachs.”
Guy Who Invented Spider Currency Wrote Fake McDonalds Memo
By 10.15.09
This will probably come as a surprise to no one, but the fake McDonalds memo that went viral last month was written by David Thorne, the same guy who tried to pay for a bill with a drawing of a spider. He is a very silly man.
WSJ 1999: "If This Is A Bubble, It Sure Is Hard To Pop"
By 10.14.09
I just found this awesome Wall Street Journal front page from 1999 covering the first time the Dow broke 10,000. It’s full of unintentionally hilarious crap that gives keen insight into how we got into this economic catastrophe in the first place. Full-size inside.
Dow Breaks 10,000, Officially Disconnects From Prosperity Of Normal Americans
By 10.14.09
The Dow broke 10,000 today for the first time in a year. Hoorays. It’s like the 90’s all over again for the very first time, only this time we’re not even going to pretend like you’re invited to the party. P.S. When you account for a 25% devaluation in the dollar, it’s really only 7,537. [ZeroHedge]
Thief Runs Up $10,000 Credit Card Bill Using Only Name, Address, Social, DOB
By 10.14.09
John says that his wife’s identity was stolen two weeks ago and since TransUnion shows your full credit card numbers on your credit report, the thief was able to run up a $10,000 credit card bill in his wife’s name.
7 Tips to Save on Apartment Living
By 10.14.09
If you’re looking for a way to get a good deal on renting an apartment, personal finance blog Wise Bread has some suggestions. Recently, they offered seven tips for saving on apartment living which, surprisingly, didn’t focus completely on costs (there are quality of life issues to consider, of course.) Here are their ideas:
Debt Collector On Tape: "I'm Gonna F**** You Up"
By 10.13.09
“When I see you, I’m gonna f*** you up,” says debt collector “Mickey,” pictured at left, on the answering machine of a guy who bounced a check. WTSP obtained the messages, some of the worst debt collector recordings I’ve ever heard, and you can listen to them here.
9 House Fixes To Save $ Before Winter Starts
By 10.12.09
Before winter hits in full force, there’s still time to get your house ready with these nine steps that can save you on your utility bills and protect against unnecessary damage.
Personal Finance Roundup
By 10.7.09
Guaranteed income, but at what cost? [CNN Money] “Variable annuities may look like a surefire bet, but make sure you read between the lines before you invest.”
How to Get the Best Deal on Cable or Satellite TV
By 10.7.09
Comcast. DirecTV. Dish Network. Oh, we love to hate them, don’t we? But without these (and others), where would we get the mind-numbing entertainment that has America hypnotized? But of course we don’t want to pay a lot to be comatose, so that’s why Bible Money Matters’ suggestions on how to get the best deal when signing up for cable or satellite TV are so valuable.
"Millionaire By 30" Shares His Saving Secrets
By 10.3.09
Through a combination of extreme cheapness, hard work, and determination, Alan Corey became a millionaire at an age when most of us are still trying to figure out how to start paying back our student loans. How did he do it? He shared some of his saving secrets with Mainstreet.com, and they’re useful whether you aspire to wealth or just need more money to pay down debts.
UPDATED: TD Bank's Statement On Resolving This Week's Meltdown
By 10.2.09
TD Bank sent us the following statement – UPDATE: and now a new, revised one – about all the transaction and fee snafus that happened this week after they became one with the Commerce Bank customer data:
