Morgan Stanley and Goldman Sachs, the nation’s last two major investment banks which each own about $1 trillion in assets, were granted approval by the Fed to let them switch to bank holding status. The… Morgan Stanley and Goldman Sachs Change Banking Status
Convenience Checks Anything that has “convenience” in its name should signal that you’re going to pay for that convenience. Convenience foods save time and cost more because of it, convenience fees are added to online… Credit Card Convenience Checks
President Bush said that his Administration and members of Congress have been working hard over the weekend to find a solution to controlling the damage to the nation’s financial markets caused by the sub-prime mortgage… President Bush Says They’re Making Progress
Advance-Fee Loan Scams The Federal Trade Commission, the nation’s consumer protection agency, warns us of “Advance-Fee Loan Scams.” Looking for a loan can be frustrating for someone who doesn’t have a good credit history. After… Advance-Fee Loan Scams
The FTC Fights Prepaid Calling Card Scam The Federal Trade Commission, the nation’s consumer protection agency, is going after shady prepaid calling card companies who misrepresent the value of their product to consumers. The FTC… FTC Cracking Down On Misrepresented Prepaid Calling Cards
The Federal Reserve Board announced on Thursday a plan to inject $180 billion into the global economy in an effort to ease the pain of the credit crisis and calm the fears of nervous investors.… Federal Reserve Unites with Five Central Banks
U.S. Government considering a broad rescue. There’s talk of a historic move by the federal government to control the ensuing credit crisis by rescuing financial institutions from their bad investment decisions. Though details of the… U.S. Government Talks of a Broad Rescue From Bad Mortgage Investments
President Bush made a brief statement on September 18th stating that he shared the concerns of the American people regarding the financial markets and the state of the economy. The President has cancelled today’s GOP-fundraising… President Bush Attempts to Reassure Americans
Rescuing private companies with taxpayer money; here we go again. The Federal Reserve announced on Tuesday to give an $85 billion emergency loan to the New York-based insurance company, American International Group, also known as… Government Gives $85 Billion Loan to AIG
Two more pillars of Wall Street fell over the weekend, shaking any last bit of investors’ confidence in the integrity of the global financial system. Stock markets around the world tumbled in response to the… Mortgage Crisis Takes More Casualties