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Tag: Interest Rates

John Oliver on Why You Should Resort to ‘Anything Else’ Before Taking Out a Payday Loan

Payday loan providers have been around for 20 years or so, and in that time their growth rate has been exponential for one reason alone: The services they provide are a huge, undeniable, legal scam. Watch John Oliver and comedian Sarah Silverman explain why you need to avoid them at all costs.

Posted on Aug 12, 2014 READ MORE



Shutterstock

An L.A. Story That’s All Too Familiar

When a city is forced to spend more on Wall Street fees than on basic public services, it is the sign of trouble.

Posted on May 9, 2014 READ MORE


Free-Market Accountability

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Posted on Jan 28, 2014 READ MORE



opensourceway (CC BY-SA 2.0)

The U.S. Has the Best Health Care System in the World—for Drug Companies

Two new articles dive into the ways in which the pharmaceutical industry has gamed the market forces behind U.S. drug prices, and how sweetheart deals between doctors and financing firms are gouging the economically vulnerable.

Posted on Oct 14, 2013 READ MORE



kevin dooley (CC BY 2.0)

The Investment Crisis Midwifing the Ongoing Recession

Investment in what experts call “real inputs”—structures and machines that enable and boost future output and productivity—is one way an economy grows over time. No wonder, then, that an economic crisis occurred just decades after the share of national income going to investment began declining during the start of the neoliberal era, around 1980, UMass-Amherst professor Gerald Friedman writes in Dollars & Sense.

Posted on Aug 9, 2013 READ MORE



WikiLeaks Releases Snowden Statement, Vermont Decriminalizes Pot, and More

A look at the day’s political happenings, including student loan interest rates double due to Congress’ inaction and Texas Republicans begin their push to pass a controversial anti-abortion law in the new special legislative session after their attempts were thwarted last week.

Posted on Jul 1, 2013 READ MORE



Photo illustration from an image by Colin Grey (CC-BY)

Gay Marriage: Why the Supreme Court Might Disappoint Conventional Thinking

Last week on Truthdig Radio in association with KPFK: The stock market plunges, Afghan author Qais Akbar Omar reacts to the news that direct talks between the United States and the Taliban have already broken down, Texas wages a war on high school kids and the Supreme Court threatens the happiness of gays everywhere.

Posted on Jun 24, 2013 READ MORE


Gay Marriage: Why the Supreme Court Might Disappoint Conventional Thinking

Last week on Truthdig Radio in association with KPFK: The stock market plunges, Afghan author Qais Akbar Omar reacts to the news that direct talks between the United States and the Taliban have already broken down, Texas wages a war on high school kids and the Supreme Court threatens the happiness of gays everywhere.

Posted on Jun 24, 2013 READ MORE



AP/Carolyn Kaster

Gillibrand’s Student Loan Proposal Follows Warren’s Lead

The Democratic senator from New York has proposed legislation that would allow holders of student debt to refinance their loans at lower interest rates, a move that could save tens of millions of borrowers a combined $14.5 billion in the first year.

Posted on May 20, 2013 READ MORE


Students as Important as Big Banks, Elizabeth Warren Says in Bill Introduction

The senator’s first piece of stand-alone legislation is aimed at giving students who take out federally subsidized loans the same interest rate the big banks get when they borrow from the government. Student loans rates are set to go up to 6.8 percent July 1. Meantime, the big banks responsible for plunging the economy into a recession a few short years ago pay just 0.75 percent

Posted on May 8, 2013 READ MORE



Poster Boy NYC (CC BY 2.0)

Subprime Student Lending

Banks gave money to needy college students without considering whether borrowers could repay, then bundled and resold the loans to avoid losing money when students defaulted—lending practices that mirror the run-up to the subprime mortgage crisis.

Posted on Jul 21, 2012 READ MORE



AP/Mark Lennihan

Crime of the Century

Forget Bernie Madoff and Enron’s Ken Lay—they were mere amateurs in financial crime.

Posted on Jul 6, 2012 READ MORE



woodleywonderworks (CC-BY)

Halfway Through the Lost Decade

Does anyone care that the economy is floundering and that we are not getting out of this crisis anytime soon?

Posted on Apr 25, 2012 READ MORE



DonkeyHotey (CC-BY-2.0)

The Student Loan Shuffle

Since last fall, one million borrowers have had their federal student loans randomly assigned to new loan-servicing companies, all nonprofits or subsidiaries of nonprofit organizations, thanks to a little-known provision in the 2010 healthcare overhaul.

Posted on Apr 24, 2012 READ MORE



rosebennet (CC-BY)

Fed to Keep a Lid on Rates Through 2014

The Federal Reserve lent weight to economists’ warnings of a long and slow recovery on Wednesday when it announced plans to keep short-term interest rates near zero for at least the next three years. The idea is that low rates will encourage borrowing and investment in American businesses, helping resurrect the economy.

Posted on Jan 25, 2012 READ MORE


Bernanke
Wikimedia Commons / United States Federal Reserve

Fed to Raise Interest Rate

The Federal Reserve announced Thursday it would increase the interest rate for temporary bank loans. The New York Times reports that many on Wall Street see this as signaling an end to big bank profits. But some economists say the move was purely technical, with no real effect on how much money is made.

Posted on Feb 19, 2010 READ MORE



AP / J. Scott Applewhite

White House Pushes for Bernanke

With unemployment running at 10 percent and Wall Street bankers again pocketing big bonuses, many see Federal Reserve Chairman Ben Bernanke’s priorities as skewed. But absent from those critics is the White House, which believes Bernanke will be reconfirmed for a second term next week.

Posted on Jan 24, 2010 READ MORE



Flickr / edEx

Unemployment Woes Persist

After a smidgen of good economic news in November, the U.S. economy unexpectedly shed 85,000 more jobs in December, continuing a nearly two-year trend and keeping the unemployment rate at 10 percent.

Posted on Jan 8, 2010 READ MORE


Colbert

‘Colbert Report’: Fed’s Dead

Do Americans really need to know how sausage gets made over at the Federal Reserve? As Stephen Colbert points out, there may be a little pig rectum in the mix, but as long as the Fed’s minions are allowed to perform their secret rituals, which may or may not involve ritual chicken slaughter, we all profit in the end, no?

Posted on Dec 9, 2009 READ MORE


Frank
serenitythruhaiku.wordpress.com

Frank Hails ‘Major Breakthrough’ in Financial Regulation

On Thursday, the House Financial Services Committee voted in favor of a bill aimed at creating the U.S. Consumer Financial Protection Agency, a watchdog organization designed in response to President Barack Obama’s call for greater oversight and regulation of banks and other financial companies in light of the past year’s economic implosion.

Posted on Oct 22, 2009 READ MORE


Obama
AP / Gerald Herbert

Obama Pushes Consumer Watchdog Agency

President Barack Obama went on the offense Friday to reassert the need for a new consumer watchdog agency, the Consumer Financial Protection Agency, to keep tabs on financial institutions and to keep consumers from getting caught up in more mortgage disasters and high-interest credit card schemes.

Posted on Oct 9, 2009 READ MORE


ENTER_ALT_TEXT
AP / J. Scott Applewhite

Economic Decline May Have Slowed

Fed Chairman Ben Bernanke presented a report Tuesday about the U.S. economy’s health. On the “bright side,” the economy appears to be declining at a slower rate than before, but home prices are still falling, credit is still very tight and, oh yeah, job losses are still rising. As a result of all the good news, the Fed intends to maintain “exceptionally low” interest rates for a while longer.

Posted on Jul 21, 2009 READ MORE


Obama and Rubin
AP photo / Chris Carlson

Obamanomics = Rubinomics?

Judging by the new additions to Barack Obama’s economic squad, the president-elect appears to be borrowing heavily from Robert Rubin’s ranks, but here’s an argument as to why Obama’s approach will differ from Rubin’s (but consider the source here).

Posted on Nov 24, 2008 READ MORE


Fannie Mae
foreclosurewearhouse.com

Fannie, Freddie to Give Foreclosures a Holiday

Starting on Nov. 26, mortgage finance mega-firms Fannie Mae and Freddie Mac will take a time out from foreclosures and evictions until Jan. 9—a welcome holiday break for struggling homeowners that hopefully will catch on among other corporate players in the mortgage market.

Posted on Nov 20, 2008 READ MORE


Deflation
telegraph.co.uk

Deflation Dangers Daunt the Economy

Analysts believe the economy is already in “horrific shape”—with news this month of record-breaking drops in the cost of living and new home construction—and is inching closer to a dangerous deflationary period, which could worsen the current economic crisis by making debts even harder to repay.

Posted on Nov 19, 2008 READ MORE


Bernanke
AP photo / Manuel Balce Ceneta

And Now, Even More Bad Financial News

There will hopefully come a day when the news from Wall Street is actually good (at the moment, anything better than utterly terrifying news would be nice), but Tuesday was not that day, despite Federal Reserve Chairman Ben Bernanke’s intimations that help could soon be on the way.

Posted on Oct 7, 2008 READ MORE


Inflation at 17-Year High

Stagflation: It’s always sounded like a dirty word, and is hopelessly tied to retro jokes about the ‘70s. But with GDP growth already, well, stagnant, the Labor Department announced Thursday that July saw the highest rate of inflation in 17 years, meaning you can now appropriately drop the word into water cooler convo without seeming like a potty-mouth or a retro hipster. On the downside, you are now paying 5.6 percent more for things than you did at this time last year.

Posted on Aug 14, 2008 READ MORE


Investor Confidence

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Posted on Sep 9, 2007 READ MORE


Down to Their Last Billion

The satirist reports that, desperate to protect their endangered fortunes, thousands of the nation’s leading hedge-fund managers converged on Washington today in “The Million Mercedes March.”

Posted on Sep 9, 2007 READ MORE


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