A while back the New York Times was concerned about the cost of the Iraq War and published some estimates of what else we could have bought with that money. We didn’t find that very interesting at the time, but now, while trying to wrap our minds around just how effing huge the $700 billion proposed bailout of Wall Street really is, we decided to revisit that article. Here’s what you can buy for less than $700 billion, according to the New York Times.
money
Found Wall Street ATM Receipt Shows $97,084.23 Balance
By 9.24.08
With all the concern about unemployed Wall Street sloggers and whether they’ll be able to keep up their leveraged lifestyle, or even get an apartment, this ATM receipt a reader’s coworker found sitting in a Wall Street ATM with a balance of $97,084.23 shows there’s at least one person who is going to be okay. Plus, this guy knows what he’s doing; note how the balance is just under the $100,000 limit for full FDIC coverage.
Warren Buffett Buys $5 Billion Worth Of Goldman
By 9.24.08
Warren Buffett buys $5 billion in Goldman Sachs stocks, causing a subdued “yay” to rise among investors. Is the contemporary equivalent to J.P. Morgan helping to calm the Panic of 1907 by walking onto New York Stock Exchange and buying bank stocks?
By 9.24.08
../../../..//2008/09/24/wall-street-fighter-has-a/
Wall Street Fighter has a list of 18 money management websites, to handle everything from making zero-commission stock trades to dunning your family for past-due IOUs. [Wall Street Fighter]
Executive Customer Service Info For 7 Banks
By 9.24.08
I was just on CNBC’s “On The Money” and heard from one homeowner who was frustrated that no one at Washington Mutual would return her calls or letters in her attempts to renegotiate her mortgage. I told her it was time to contact executive customer service and/or launch an EECB. I received a few emails after the show from other homeowners in the same situation, so here is all the executive customer service contact info we have for various banks.
Contact Info For Wells Fargo CEO John Stumpf And Friends
By 9.24.08
Here’s some info we dug up that can help you contact some higher ups at Wells Fargo if you’ve tried regular customer service and escalating to supervisors and it’s not working out.First read this post about how to contact and conduct yourself when using executive customer service. [More]
Four New Penny Designs Unveiled!
By 9.24.08
The Treasury Department showed off four sexy new designs for the back of the penny, a facelift to commemorate the 2009 bicentennial of Abraham Lincoln’s birth. One image shows Lincoln’s log cabin, one of him taking a break from splitting rails to read a book, one of them with the Capitol mid-construction, and the last of him gesturing towards the state capitol building in Springfield, Illinois! Yeah. Pennies. In the middle of the financial implosion, we’re worrying about what the pennies look like.
FBI Investigating Failed, Bailed, Financial Firms
By 9.24.08
The FBI has launched a fraud probe into Fannie Mae, Freddie Mac, Lehman Brothers and AIG. Sounds kinda like a move to placate the masses. “We’re on it.” No doubt in response to the seething outrage sweeping the nation over the size and audacity of the bailouts, however needed they might be. Sounds like an easy job. Sorta like dipping your hand in a barrel of ink and trying to pull up black stuff.
One Day Left To Register For TransUnion Class Action Lawsuit
By 9.23.08
September 24, tomorrow, is the last day to register for the class action against TransUnion for selling consumer’s private data to businesses without permission. If you held a credit card between January 1, 1987 to May 28, 2008, you’re eligible to receive benefits. You can choose from one of three options:
Reach Wachovia Auto Loan Executive Customer Service
By 9.23.08
The number for Wachovia Auto Loan Executive Customer service is 877-250-2265.
Understanding The Panic Of 2008 In 15 Easy Steps
By 9.23.08
If you’re wondering how we got into the big money mess, Kiplinger has a nice and easy 15 step guide to the market meltdown. They trace the origins back to 2000, when the Federal Reserve made the federal funds rate, the interest rate banks charge each other for short term loans, very low. Then we go through the speculative bullshit of the subprime mortgage market, the various imaginary castles built on top of it, and then just how everything went to pot once the naked emperor was revealed. No blame-casting, just the straight up facts.
Bankofamerica.com Is Down
By 9.22.08
Bank Of America’s site has been down for several hours today. Coincidence? Related to its purchase of Merill Lynch? Outcome of market turmoil? Uncertain, but it is certain that BoA customers can’t do any online banking right now. UPDATE: It’s back up, but so slow as to make it practically nonfuctional. [cNet]
Wall Street Is Dead
By 9.22.08
Wall Street is dead. According to its Journal, it died last night when the Federal Reserve agreed to convert Goldman Sachs and Morgan Stanley, the last remaining mega brokerages on Wall Street, into bank-holding companies. The Wall Street that was, “a coterie of independent brokerage firms that buy and sell securities, advise clients and are less regulated than old-fashioned banks,” is no more. In exchange for access to more Federal loan money, and not having have to mark its assets at market value, the two companies will be subject to tighter capital requirements and more government regulation and oversight about how they do their business. This will blunt profits, but that seems in order considering the run racked by so much reckless profiteering, for so long.
Find Over 800 Free Shipping Coupons At Freeshipping.org
By 9.22.08
There’s nothing like free shipping to make an online deal really sweet, and freeshipping.org is a place to find free shipping coupons and discount codes to do just that. The free site sports a clean and readable interface, search alphabetically by store name, product category, expiring or new coupons for over 800 stores, including Amazon.com, Target, Newegg. Most of the free shipping comes with stipulations. They’re not always straight up free shipping coupons, sometimes it’s more of a statement of store policy, like how many places will offer free shipping if you order online and pick up in-store, or free shipping on gift-card orders. So you’ll have to do some digging and you won’t always find one that will work for you, but still, bookmark-worthy.
Canon's Rebate Program Is Blurry And Poorly Lit
By 9.22.08
Brett has now been the victim of two failed rebate attempts through Canon. They ignored the first one, and rejected the second one with a claim that he can clearly disprove. He’s trying again. Unfortunately, it looks like Brett’s experience with Canon isn’t unique.
Always Look A Gift Check In The Mouth
By 9.19.08
My brother who is a junior at college sent out a bunch of applications for college grants and other sources of funding to pay for his education. Late this summer he received a check in the mail sent to him from one of the organizations that he sent an application to. The check wasn’t huge, but the $3500 would come in handy, and certainly would have been a huge help in paying for his books, and housing. When the check actually came in the mail it was just a check, nothing else, no letter of congratulations, explanation or anything else telling him why he had received the money…
But How How Does The Bailout Affect Me?