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Slaying the Subprime Vampires – Reprise

The Backstory Once upon a time, people who wanted to buy a home saved their money, shopped for a house, and then asked a bank to loan them money. If the bank viewed them as a worthy risk, it loaned...

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John McCain: Gambling With Your Future

John McCain is once again rolling the dice for a high-stakes win. Having demonstrated his capacity for self-contradiction at any turn and suffering in the polls as a result of his past positions and...

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Wells, Wachovia and Sweet, Sweet Deals

During the early days of the financial meltdown, the news was that Wells Fargo Bank was set to acquire teetering Wachovia, but those reports were overshadowed by the news that the FDIC had brokered a...

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Fannie Mae’s Rise and Fall

Interesting history of the pressures and difficulties of being Fannie Mae from the New York Times. Shortly after he became chief executive, Mr. Mudd traveled to the California offices of Angelo R....

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WTF?

Love it. Just love it.

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Wachovia Snuggles Up to the GOP with 8 Million

Yep, you read it right. Wachovia, the same Wachovia that the Feds tried to force-sell to Citi for $1/share while screwing the shareholders and Wells Fargo Bank, is extending an 8 million dollar loan...

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CA: Key Propositions Losing, Voter Confidence Lagging

This is excellent news. According to a statewide survey conducted by the Public Policy Institute of California, Propositions 4 (Parental notification before a minor can have an abortion) and...

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Will Democrats Kill Your 401k?

The short answer is NO. But if you follow news about 401k plans, you might find some pretty scary headlines like this one or this one, where the writers contend that the Democrats want to take away...

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Where I tell Tim Rutten to get a 401k education

Tim Rutten’s appallingly ignorant editorial in today’s LA Times is the reason no one should rely upon a single mainstream source for their information. Rutten’s contention that the 401k plan is a...

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Enough with the AIG feeding frenzy…

I don’t really have time or the brain cells at 1:00 AM to write about the latest AIG feeding frenzy, but I do feel compelled to put something out there to counter the Boston.com article suggesting...

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