Obama’s Plan for the Economy, Part I.
Reform Bankruptcy Laws: Obama will reform our bankruptcy laws to protect working people, ban executive bonuses for bankrupt companies, and require disclosure of all pension investments.
Credit card debt related to housing crash
Like many Northern Nevadans, 34-year-old Jack Zenteno and his wife, Betty, found their finances taking a severe hit from the area’s housing crisis.
“My wife went into real estate right when the market began to fall apart,” Zenteno said. “And it occurred at the same time I lost my job.”
With no savings to draw from, the [...]
Banks boost credit card rates
To understand how the collapse of the nation’s real estate market is hitting borrowers of all kinds, consider Carson Moore. Moore, of Elkton, Ky., says he always pays more than the minimum due on his credit cards, and does it on time, every time. But in January, Bank of America told him it was nearly [...]
Blame high interest rates for subprime crisis
All the cheery bipartisan photo-ops accompanying the Bush-Congress stimulus package won’t change the economic condition of the majority of Americans. That’s because it’s not based on reducing living costs. As long as expenses such as health care, traveling to work, tuition and carrying debt rise faster than average income, personal financial stability remains under attack.
Pride [...]