Federal Protection Move at Speed of Snail

This is an example of consumer protection from the federal government at its finest. The Federal Communications Commission recommenced its battle against provocative television shows late Friday, proposing a $1.43 million fine against the ABC and its affiliates for a February 2003 episode of “NYPD Blue.” Finally 5 years after the episode aired, 2 years …

Last in – first out or fire the weakest – layoffs continue

As the perception of a slowdown continues the perceived over-employment picture might indicate a need for layoffs. It sounds like market agitators in the oil industry where fear of a hurricane that might agitate Nigerian rebels who could… – you get the picture. Anyway, it is close enough for some. More layoffs were announced as …

Self-serving anti-consumer OCC must accept subprime blame

Substantiated reports are coming in that verify what we said since last August – the problem is not subprime, and the problem has little to do with poor people. One problem is collateralization of mortgage loans. Those loans would be pooled with similar loans, and slices of that pool were bought and sold as mortgage-backed …

Mortgage lenders may not report to credit bureaus

When a mortgage lender does not report timely payments to credit reporting agencies they are denying you the right to an accurate credit score. Lenders want your mortgage, and the on-time payments all to themselves. They are trying to eliminate the competition by hiding your payments from competitors. Unfortunately your credits score usually suffers because …