Sep. 23, 2010 at 3:36 p.m.
Filed under:
Economy,
Internet,
Politics,
Updated
By Ameet Sachdev
Todd Henderson. (University of Chicago photo)
A law professor at the University of Chicago, where President Barack Obama once taught, is sorry he ever complained about the president’s tax policies.
Todd Henderson last week wrote on a blog about the effect the expiring Bush tax cuts would have on his family. He said his family, whose household income is north of $250,000, could not afford higher taxes. His wife is a doctor at the University of Chicago Hospitals.
“A quick look at our family budget, which I will happily share with the White House, will show him that like many Americans, we are just getting by despite seeming to be rich. We aren’t,” Henderson wrote on the blog “Truth on the Market.” Get the full story »
Sep. 17, 2010 at 9:01 a.m.
Filed under:
Banking,
Investigations
By Gail MarksJarvis
Banks are getting wise to people who bank hop to get the highest interest rates on checking accounts and some are cutting off customers who they think have become too big for their britches. Depositaccounts.com writes that banks can tell when you have been trotting from bank to bank opening accounts. And they don’t like it because they want you to be loyal only to them. My advice: Shop anyway. The more the merrier if you can pull it off.
Sep. 7, 2010 at 6:02 a.m.
Filed under:
Investing
By Associated Press
Only 22 percent of investors under the age of 35 say they’re willing to take on a substantial level of risk, according to the Investment Company Institute. Compare that with 2001, when that same group outpaced every other age bracket.
“We’re coming off a series of financial crises that hit this young generation at points in their lives where external events shape strong opinions,“ said Christopher Geczy, adjunct associate professor of finance at University of Pennsylvania’s Wharton School. Get the full story »
Sep. 2, 2010 at 11:07 a.m.
Filed under:
Bankruptcy
By Gail MarksJarvis
Consumer bankruptcies at the highest level since Congress changed the bankruptcy law in 2005 and made it tougher for people to file for relief from their debts, according to American Bankruptcy Institute Executive Director Samuel J. Gerdano. And he has estimated that by the end of this year, personal bankruptcies for 2010 will have totaled 1.6 million.
Aug. 30, 2010 at 6:37 a.m.
Filed under:
Insurance
By Dow Jones Newswires-Wall Street Journal
Nearly a third of U.S. households have no life-insurance coverage, the highest percentage in more than four decades, according to research firm Limra.
About 35 million U.S. households neither own their own life-insurance policies nor are covered under employer-sponsored plans, up from the 24 million, or 22 percent of households, without coverage in 2004, according to the study this year by Limra, of Windsor, Conn. Get the full story »
Aug. 25, 2010 at 10:42 a.m.
Filed under:
Credit Cards,
Updated
By Associated Press
The amount consumers owed on their credit cards in this year’s second quarter dropped to the lowest level in more than eight years as cardholders continued to pay off balances in the uncertain economy.
The average combined debt for bank-issued credit cards — like those with a MasterCard or Visa logo — fell to $4,951 in the three months ended June 30, down more than 13 percent from $5,719 in the same period a year ago, according to TransUnion. Get the full story »
