About Current Events

**Finance Globe** · July 17th, 2008, 12:26 AM

I wanted to let everyone know that we just introduced a new section "current events". You can find this at http://www.financeglobe.com/Finance/...urrent-Events/ and also soon to be featured on the home page.

You can use the correct topic under this forum for discussing current event stories/articles about our economy.

**hjm331** · July 17th, 2008, 01:43 AM

Cool new idea FG!

**Meya** · July 17th, 2008, 10:28 AM

Cool!

**Rob72830** · July 17th, 2008, 11:20 AM

Good. With the way the economy is going there will be a lot of current event articles.

**hjm331** · July 17th, 2008, 03:21 PM

Rob, I agree. You read my mind.

**Finance Globe** · July 17th, 2008, 04:31 PM

I'm very glad to hear the enthusiasm. I thought that it was about time we stepped into this topic.

I am going to make a sub-forum under this economic forum so we can discuss the article / summary. We are only going to research economic related issues - that will more than likely have an impact on us financially. In addition, I will start a new thread for suggestions.

I think this is going to give us a good base, so everyone can read up and make informed posts about our current economic situation.

My goal of this new section is to keep us all informed about our economy, and ways to make the best of it.

**Rob72830** · July 17th, 2008, 05:01 PM

Will links to articles we read on the web be welcome like we have done on other threads?

**Finance Globe** · July 17th, 2008, 05:05 PM

Definitely. My goal is to not have duplicate posts, so if the topic is already in discussion and established, I will link the article to the appropriate forum.

**Wanderer** · July 27th, 2009, 06:58 PM

Citi Bank is still NOT out of the soup yet nor is CIT. Wells Fargo bought a boat full of less than great loans with Wacovia Bank along with its own oops. We will have a while until all this subprome mess shakes out. I know for a fact in my part of Minnesota our tax collection delinquencies went from 2% to 10% in six months. Not good!

**Finance Globe** · July 29th, 2009, 12:40 AM

Sorry for the delay in articles. We will have our author back soon! Much to cover...

**Wanderer** · August 2nd, 2009, 05:26 PM

Loyal Readers...

The following is a cut out from "Lowcards.com" dated Wednesday, July 22, 2009 posted by Lynn referencing why credit card rates are going up along with interest rates and the lowering of credit lines.

***Posting***
Last week, banks and issuers released their monthly reports that included default rates. For some issuers, default rates remained about the same. While this could be seen as a sign of stabilization, it could also be a short pause as households used tax refunds to pay down credit card balances. Here are the default rates from other major credit card issuers:

* Capital One's rate rose to 9.73% in June from 9.41% in May.

* JP Morgan Chase defaults declined to 8.04% in June from 8.36% in May.

* Discover's rate fell to 8.75% from 8.91%.

* American Express defaults fell slightly from 10.0% in May to 9.9% in June.

* Citigroup defaults remained unchanged at 10.5%

Since the unemployment rate is expected to increase, some observers fear that industry's default rate could climb above 12% by the first quarter of 2010.

Posted by Lynn at 8:30 AM

None of us should be all that surprised but the default rate is way bigger than I figured. Comments?

[link removed by Finance Globe admin]

**Wanderer** · October 4th, 2009, 01:40 PM

More Credit Card INFO:

Credit Card Laws and Court Rulings--Have They Helped Consumers?

Congress passed the Credit CARD Act in May but it gave issuers and banks almost one year to implement the major provisions of the bill. Since then, issuers did exactly what they threatened to do--raise rates and fees on a broad group of cardholders. Consumers and elected officials are not happy about this, and members of Congress plan to introduce a bill to accelerate the effective date of the bill from February 22, 2010 to December 1, 2009.

Source "Lowcards.com" Thursday, September 24, 2009

FG Readers be ready for the next ... ???