News

2008

October

26

• Even gold isn't a sure bet. Gold is for rich guys - buying physical gold, that is. The metal's highest and best investment use is as an insurance policy against a currency collapse. For that purpose, you need a lot of…

• Still time for a health savings account. It's not too late to set up a health-savings account this year and contribute the maximum amount - as long as you get moving by Dec. 1. Health-savings accounts are tax-favored, individual accounts used in…

25

• Trying for a bigger tax credit. Reluctant potential home buyers could be in line for some additional tax and financing enticements, either through a post-election lame duck congressional session or from the new Congress arriving in January. Though House and Senate…

23

• The ABCs of credit card residual interest. When you pay the full amount on your credit card statement and don't add any new charges, your balance is zero, right? Not necessarily. Welcome to the world of residual interest -- where grace periods…

• Credit rating agency heads grilled by lawmakers. Conflicts of interest were largely responsible for the disastrous performance of credit rating agencies in assessing the risks of mortgage-backed securities, two former high-ranking officials at Moody’s Investors Service and Standard & Poor’s said Wednesday…

22

• Banks mine data and woo troubled borrowers. Brenda Jerez hardly seems like the kind of person lenders would fight over. For months after she emerged from insolvency last fall, 6 to 10 new credit card and auto loan offers arrived every week…

• Public likely to pay for rising personal bankruptcies. Matthew Shelbourn knows money. The 27-year-old Cerritos resident studied accounting as an undergrad at USC and kicked around various jobs in the financial sector before settling into his current gig as controller at an Anaheim…

• Young people know little about free credit reports. WASHINGTON, DC—October 22, 2008— A recent survey by the Jump$tart Coalition® for Personal Financial Literacy demonstrated that less than half of the high school seniors surveyed realize the three nationwide consumer credit reporting companies are…

• How to save $8,919.45 a year. In tough times, consumers are looking to stretch their dollars further. Here are six simple ways to save thousands.

• Low marks for Paulson, bailout. A majority of Americans aren't happy with the way Treasury Secretary Henry Paulson is handling his job or with the financial rescue package he and Congress created, according to a poll released Wednesday. Of 1,058…

21

• Beware the digital zombies. In a windowless room on Microsoft’s campus here, T. J. Campana, a cybercrime investigator, connects an unprotected computer running an early version of Windows XP to the Internet. In about 30 seconds the computer is…

20

• Mortgage market remains intact. Everybody knows how severe and painful the global financial breakdown has been, with banks unwilling to lend even to other banks. But what about mortgages and real estate? Can you still get a home loan…

• Debt collectors are busy as credit defaults rise. I got to know Marvin Kaulkin by smoking an occasional cigar together at Bethesda Tobacco, a popular spot in lower Montgomery County. His Rockville firm, Kaulkin Ginsberg, has 25 employees and advises collection agencies on…

• Middle-class Americans' retirement at risk. Through most of his working life, steelworker Ray West looked toward a secure retirement. His company pension would bring in around $30,000 a year, his union contract guaranteed retiree health coverage and he had 401(k)…

• Falling gas prices bring relief in financial crisis. arbara Warner is one of many people here and across the USA relieved about plummeting gas prices. For months, the mother of three fretted as gas prices climbed. She traveled less from her home in…

• Rules relaxed for 'food stamp' eligibility. As the economy weakens, states and the federal government are trying to help more people qualify for food stamps. Since Oct. 1, new federal rules make it easier for households with income from combat pay,…

• Las dos caras de la deuda. Sólo de oírla, la palabra "deuda" suena mal. Pero bien pensada y administrada, esta estrategia económica puede ser un puntal de tu vida financiera... o la causa de tu ruina si no sabes manejarla. No…

• ¿Qué hago con mis inversiones?. Existe una nueva enfermedad que muchas personas están padeciendo. Se llama "evitaritis aguda". Tiene solamente un síntoma que cualquiera puede diagnosticar: cuando el paciente recibe por correo el estado de cuenta de su IRA o…

19

• Fixing common money mistakes. Everybody makes mistakes. But when it comes to money, even little errors can prove devastating. Bruce McClary, communications director for Clearpoint Financial Solutions, recalls a senior on a tight budget who was getting along fine…

• With HOPE for Homeowners, you'll pay in long run. For homeowners trying to renegotiate their loans under the government's new HOPE for Homeowners program, please read the paperwork carefully - because once again, you'll be stuck with a costly mortgage deal. HOPE for Homeowners,…