Wells and USAA mortgage refi, credit card news of the week

Thanks goodness for credit card reform. Compared to the old days it is really nice to get email reminders when a credit card payment is due. Confirmation emails are wonderful. What happened to huge profits generated by credit card companies when they “forgot” to mail a statement, just to make you pay interest on “zero …

Has Saxon Capital Inc tainted Morgan Stanley?

This was seen in the Wall Street Journal online edition: The Journal continued with its criticisms, which certainly went beyond one unlucky trade: “In addition, under Mr. Mack’s watch, Morgan Stanley in February 2006 paid $1.76 billion for a credit-card company, Goldfish, only to see its value written down by $422 million a few weeks …