The latest edition of Wired (print copy I got in the mail, this story isn’t online yet) had a blurb about FreeRisk.org – a new site that wants to take on the credit rating agencies:
* A. M. Best
* Dominion Bond Rating Service
* Fitch [...]
If you are on the wrong side of events, it may be very difficult to see the silver lining in a dark cloud. The most recent economic downturn has been very difficult for some home owners who are living beyond their means and the likely end result has been their losing their house. [...]
Very important vote in the House of Representatives today on the economic rescue plan. Here is what one of the prediction markets is predicting now:
How many US Representatives will vote in favor of the Bailout Plan?
It is a live widget, so it will update as we careen out of control towards the [...]
The markets are crazy insane again today. They don’t have the same doom and gloom feeling as Monday’s toppling, but it is a negative market – Dow is down about 350 five minutes before the closing bell.
The future of the economy in the US, as well as the rest of the world, is dependent [...]
The sudden leap in oil prices has been yammered about – Oil jumps $25! – but, in fact it is a market anomaly brought on by the expiration of a futures contract. The contract expired today and many of those who were short the contract – hoping that it would go down – were [...]
Image by José Antonio Galloso via Flickr I just flipped on the TV and saw that CNBC was broadcasting the International version of their show on the US channel. It is 10:00PM on the east coast and I was taking my Lipitor – basically unwinding, not really listening to the market chaos being [...]
Image via Wikipedia The Federal minimum wage is increasing:
Previous Federal Minimum Wage:
$5.15
New Federal Minimum Wage:
$5.85 – July 24th, 2007
$6.55 – July 24th, 2008
$7.25 – July 24th, 2009
The unemployment rate just surged to 6.1% – still historically low – but in comparison to the 4-5% rates the nation has enjoyed in the last three or four [...]
Peer-to-Peer Lending – Social Lending – P2P Loans – microfinancing – all part of the Web 2.0 trend of adding “social” to any activity and creating something new. Instead of going to a bank for a loan, a borrower works with a group of her peers to finance the loan. The social aspect [...]
Image via WikipediaYes, I waited until the last minute – almost. I am trying to submit my taxes via TurboTax and just got the following message:
The Intuit Electronic Filing Center is experiencing unusually heavy demand and is unable to accept returns at this time. It’s not necessary to contact Customer Service or Technical [...]
photo credit: pfalaRateLadder wrote up an interesting piece – Big Lending Club News — Quiet Period Underway for Secondary Market – about an email he received from Lending Club about a major change in how they are going to go about their business. Oddly enough he mentions that he got this info via [...]
Will the Fed go another 25 basis points in October? Or is 50 enough for the near future? Tomorrow morning the latest inflation rate will be released. The government metrics for inflation seems to be a bit 19th and 20th century. When was the last time you saw an iPod or [...]
I set up a Prosper loan to fund a new air conditioning a couple of days ago. I got this note from Tom, who writes the Prosper Lending Review blog:
I just checked out your loan. I’m a Prosper lender (and blogger). It’s too bad you live in VA which has a rate cap on [...]
You have any money to lend? Check out Prosper and earn 8-12% interest while helping out people who need loans.
Here is the deal – I need a new air conditioning unit, so I am trying to borrow the cash at Prosper. If you have some cash and want to make a decent interest [...]
First, a little topical context. As of the last week in August, the average 30 year mortgage rate is hovering just below 6.10%. Only two and a half months ago the rates were closer to 6.5%. What caused such a precipitous move in rates? Keep in mind the several year campaign [...]
