The Banking World Is Changing

You may not have known this, but the most popular method for paying for things used to be with checks and with it came a variety of different problems. People could pay for things with money they didn’t actually have and “float” the check a couple days before it actually hit their account. Many people were able to get out of financial binds this way but that is no longer the case. Today, the vast majority of checks written are turned into digital checks immediately. That means your... Read more »

Choosing The Right Credit Cards For Your Use

If you are like most people you probably get dozens of offers for credit cards in the mail each year, if not more. These offers are all around us and while some of them are very appealing it doesn’t necessarily mean that they are the right choices for you. In the past it could be argued that all of these offers were created equal, but this is no longer the case. Each charge card opportunity may offer different perks and you have to consider these before you simply sign on the dotted line and... Read more »

Get What You Need Right Now With Credit Cards

When you don’t have cash to purchase things it doesn’t mean that you have to do without the things that you want or need. Instead, you can use credit cards to help you purchase the things that you want now and then when you have the cash you can pay off your card with those funds. You have to look at it as a form of plastic money giving you the funds that you would like to have now, but then you have got to pay off the debt later to ensure that you still have access to it when you need... Read more »

Why Your Credit Card Interest Rate Is Important

Many people receive credit card offers in the mail, they open them up, they call the toll free number, and they open an account. They do all of this without really looking at any of the materials that come with the offer. It is dangerous to do this and that is because in all of that information that comes with the card is your interest rate and if you don’t pay attention to what your percentage rate is you can end up in a lot of financial trouble. Pay Attention to the Interest If you are under... Read more »

When Starting A Business, The Choice Of Account Is Essential

Starting out is business can be one of the most stressful experiences in life, many have dreams of starting a business and then living like a fat cat as their worker ants run around for them earning money. This couldn’t be more wrong, a business is a lot of work and should be undertaken with the knowledge that success will only come through hard work. A big part of this is getting the choice of account right; there are a huge number of account packages out there, so the choice can be difficult,... Read more »

Bear Stearns and the New Federal Reserve

On March 14th, Bear Stearns, the fifth-largest investment bank in the United States, entered a period of insolvency. As growing lack of confidence in the firm’s subprime exposure grew, other banks eventually refused to lend to the stricken company, which has existed for over 85 years. Were Bear Stearns a commercial bank, (i.e. institutions that loan money to people or businesses) it would be able to, as a last resort, take advantage of the Federal Reserve’s so-called “discount... Read more »

I’ve Lost My Banking Job and I’m now a Debtor

Over recent weeks the words ‘credit crunch’ have been all over the financial headlines, and the effects of the turmoil that has hit the financial markets have been reflected in a number of ways, affecting both financial institutions and consumers. The credit crunch was sparked as a result of the housing slump, rising interest rates, and record defaults in the sub-prime sector of the United States, and over recent weeks the global repercussions of this crisis have become increasingly evident. The... Read more »

Bear Stearns and the Free Market

The recent government-sponsored bailout of Bear Stearns, one of the top five lenders in the United States, has shocked traders and left investors cold. Despite the chilly reaction on Wall Street, secretly many are breathing a sigh of relief. While Bear Stearns was mismanaged from its upper echelons, its subprime exposure grew until their recent $30 billion-plus losses had to be reported. Once that happened, their course took a turn for the worse. As their ability to shore up capital faltered, JPMorgan... Read more »

Bear Stearns from 20 Billion to 236 Million and Beyond

What a difference a year makes. Last year at this time Bear Stearns had a high flying stock price of $150 a share and a market valuation of 20 Billion. Having been founded in 1923 they were considered one of Wall Streets most venerable investment houses. Going back to 2005 Bear Stearns was selected as “Most Admired” securities company in Fortunes annual survey a distinction they retained until 2007. During this time period many of the decisions that would lead to their eventual downfall... Read more »

Euro Tax Haven ‘Apocalypto’ Opens Door To Guatemala

More commonly known for its ancient civilization history of the Mayan Empire, Guatemala has more recently become the focus of the worlds wealthy, who are beginning to look beyond the European tax havens of Switzerland, Andorra and Monaco following recent political debates at the European Parliament in the Brussels. Problems are brewing between the tax havens, Euro officials and resident individuals who have for years, taken advantage of the tax benefits of company and individual offshore accounts... Read more »