$29 trillion credit-default swap market proposed legislation

Draft legislation that would change how over-the-counter derivatives are regulated might prohibit most trading in the $29 trillion credit-default swap market. Is this needless regulation or a good idea announced too late to stop a disaster? Let’s ask the biggest party givers – AIG. U.S. regulators and politicians are stepping up pressure on banks to …

Those over 50 should not tap 401 (k) plans for foreclosure

There are many people facing foreclosure. The situation is totally unacceptable. The number of older homeowners facing foreclosure, over 700,000 of whom are 50+, means it will be hard to recover in a slowing economy, and the fact that statistics are that high is also totally unacceptable. Imagine working all your life just to see …

Subprime and college educations – an analogy worthy of investigation

As we finish the last day of 2008 the reality of the matter is that 18 months have passed since red lights came on and warning sirens sounded in the summer of 2007. Letting the air out of the mortgage bubble, and subsequently starting the collapse of Wall Street, the summer of 2007 was only …

Bailout urgency sounds like war with Iraq, Paulson’s ability questioned

Just use our search box to look up “Paulson” and you will see a problem. Henry Paulson was in charge at Goldman-Sachs, and is now the treasury secretary. In August 2007 Paulson said he did not see anything that caused him to reconsider his view that the economic damage from the housing correction was ┬ôlargely …

AIG customers should have left long ago

Investors and people holding accounts with AIG (American International Group) are calling individual offices to see how safe their money is. One couple said they were worried about $90,000 in their retirement account. If these people studied before investing they would not be involved with AIG. Reasonable concerns would dictate that important financial assets should …