Posted June 18, 2009 - 23:09 by Xin Lu
Frugal Living, Taxes, Cars and Transportation
A few months ago I wrote about several car buying incentives that were floating around. This was before the bankruptcy of Chrysler and GM and there was a rumor going around that the government would push consumers into buying new cars with a trade in program. Now it is official that a "cash for clunkers" bill has passed by both the Senate and the House. This $1 billion program was attached to the $106 billion war spending bill and offers vouchers to consumers who trade in their gas guzzlers. Here are some details on the program.
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Posted April 29, 2009 - 16:48 by Xin Lu
Personal Finance, Real Estate and Housing
The United States government launched the "Hope for Homeowners" program back in October, 2008, and so far only one loan has received final approval to refinance under this program. This week the Obama administration took another step to expand incentives to banks and borrowers to modify mortgages. This time, the plan targets second mortgages and it is called the Second Lien Program.
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Posted March 24, 2009 - 17:27 by Xin Lu
Personal Finance, Taxes, Real Estate and Housing, Investment
This week the United States Treasury announced the Legacy Loans Program. The program is meant to be a partnership between the government and private investors to clear "toxic" assets off the books of banks. Some large financial firms have expressed that they may set up mutual funds to buy these assets. Could you possibly profit by buying these funds as an individual investor?
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Posted March 24, 2009 - 11:50 by WC Porter
Personal Finance, Career and Income
The whole country is up in arms about the last round of AIG bonuses, but why should they? Before you pick up your pitchfork and join the angry mob, would you return your bonus even if you had nothing to do with any of the shenanigans? We may be upset, but some of these people earned this money fair and square.
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Posted February 18, 2009 - 23:13 by Xin Lu
Personal Finance, Real Estate and Housing, Consumer Affairs
Today President Obama announced a new $75 billion Homeowner Affordability and Stability Plan to the world. It is touted as a plan that helps responsible homeowners who have not yet missed payments. However, will it really reward responsibility? Lets take a quick look at what is in the plan.
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Posted October 16, 2008 - 07:42 by Paul Michael
Personal Finance, Real Estate and Housing
I’ve been recovering from surgery recently, so that has given me the opportunity to do a lot of thinking on my sick bed. And with the recent turmoil in the economy, plus a focus on the housing market, I couldn’t help a certain thought from bubbling up in my mind day after day. It’s not responsible; it’s not even fair; but I do have to wonder…should we all just stop paying the mortgage?
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Posted October 3, 2008 - 14:07 by Andrea Dickson
Taxes, Consumer Affairs
You might have thought that the $700 billion bailout bill seemed a bit excessive. You'll be relieved to hear that the bill that the President will sign tonight is worth a mere $800 billion dollars. Wait, what?
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Posted October 1, 2008 - 11:08 by Paul Michael
Personal Finance, Credit Cards, Consumer Affairs
Well folks, I hope you have plenty of time on your hands. The initial 3-page document that Bush and Paulson put forward has grown somewhat. It's hardly surprising, considering how much of a broad sweep the initial bailout plan was. However, you have to wonder how many people out there have the time, patience and understanding to read a 451-page economic document. But, if you want, you can download it right here.
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Posted September 23, 2008 - 10:21 by Philip Brewer
Real Estate and Housing
Several times recently, Treasury Secretary Paulson (and many others) have claimed that the "root cause" of the current financial crisis is "the housing correction." This is completely wrong--and unless policy makers realize that it's completely wrong, they're not likely to make the right policy decisions.
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Posted September 21, 2008 - 08:08 by Philip Brewer
Personal Finance
Dear Secretary Paulson: I've looked over the fact sheet on the proposal to give the Treasury the authority to purchase "troubled assets," and although I have some doubts about the wisdom of the program, if there's going to be one, I want to get in on it!
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