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Obsessing Over Debt Can Stop You From Getting Rich
By Phil Villarreal on December 23, 2011 4:15 PM
37 Comments
The credo preached by just about every personal finance writer is that debt is an enemy that must be eradicated before you can think about building wealth. But there's a reason many rich people have no problem with taking on more debt to finance new ventures. Those who think big and take manageable risks tend to be the biggest winners. More »
Goldman Sachs Loses Money For First Time Since Financial Crisis Began
By Ben Popken on October 20, 2011 11:00 AM
43 Comments
For the first time since the advent of the financial meltdown, and for only the second time since 1999 when it became a publicly traded company, Goldman Sachs has — Gasp! Horror! Shock! — lost some money. More »
Stocks Tumble On Renewed Fears Of Greek Default
By Ben Popken on September 12, 2011 10:00 AM
21 Comments
US markets fell 200 points on news that Greece could be on the precipice of defaulting on its debt. Wait, haven't they been talking about that all summer? Yes, but this comes after the Germans, key players in resolving the crisis, are now publicly saying that Greece may default in a messy way. More »
Bank Of America CEO's Pep-Talk Email To Workers
By Ben Popken on August 9, 2011 3:00 PM
36 Comments
Bank of America's CEO Brian Moynihan posted an email to the company's intranet telling the rank and file to keep their chins up amidst their sinking stock price and news that they would be sued by AIG for selling crap mortgages. More »
Stocks Up After Days Of Bleeding
By Ben Popken on August 9, 2011 1:00 PM
29 Comments
After swooning on Monday following S&P's downgrade of US bonds, stocks posted gains on Tuesday as investors saw the over-reaction as a buying opportunity. Now investors look to see what the Federal Reserve policy board might say after their meeting later today. More »
Stock Market Drops Most Since 2008
By Ben Popken on August 8, 2011 10:28 PM
73 Comments
The stock market continued diving on Monday, with the Dow falling 5.6% and the S&P down 6.7%, the biggest sell-off since December 2008. More »
If You Want To Lose Money, Sell Your Stocks Now
By Ben Popken on August 8, 2011 1:00 PM
51 Comments
The plunges in the past week in the stock market are gut-wrenching but those who panic and sell off right now are going to be kicking themselves later, says legendary economist and former director of The Vanguard Group Burton Malkiel. The most you should do is rebalance your portfolio. More »
Stocks Rally On Positive Jobs Report, Then Fizzle
By Ben Popken on August 5, 2011 12:00 PM
19 Comments
Markets opened on an upswing Friday as the labor report came in at 117,000 jobs added for July, higher than the predicted 85,000. The unemployment rate even ticked downwards to 9.1% from 9.2% in June. But the rally quickly evaporated as concerns about the growing European debt crisis and how government spending cuts might stymie economic growth took precedence. More »
(snigl3t)
Stocks Fall On Global Economy Fears
By Ben Popken on August 4, 2011 3:00 PM
61 Comments
Global stocks fell broadly Thursday afternoon amid worsening concerns about a global economic cooling and a European debt crisis. Each of the three major US indexes were down, deleting all the gains they had made so far this year. More »
Dumping 2nd Mortgage Through Bankruptcy Is No Cake Walk
By Ben Popken on May 10, 2011 5:00 PM
22 Comments
For anyone considering getting rid of their second mortgage in the manner described in yesterday's post, bear in mind that it is by no means a painless process. One of our readers is a staff attorney for a Chapter 13 bankruptcy trustee, and he writes in with more details about what this process entails. More »
Homeowners Exploiting Bankruptcy Loophole To Dump 2nd Mortgages
By Ben Popken on May 9, 2011 3:00 PM
65 Comments
Some homeowners are taking advantage of a little-known loophole in the bankruptcy law to get rid of their second mortgage and also avoid the pain of foreclosure, reports the San Jose Mercury News. Here's how it works: More »
Bin Laden's Death Greeted By Falling Oil Prices, Market Gains
By Ben Popken on May 2, 2011 11:00 AM
99 Comments
Looks like the death of Osama Bin Laden this Sunday took some "fear factor" out of markets, which greeted the news favorably. Pressure at the pump could be relieved a bit with oil falling 0.7% to $113.23. Gains were seen across several markets, with the Dow Jones up .5%, the S&P up 5 points and the Nasdaq moving forward 7 points. However the surge could evaporate easily, even by end of day, as the euphoria wears off. And if Bin Laden's death leads to retaliatory attacks, you can be sure those gains will be erased, and then some. More »
Make Interest Work For You Instead Of Against You
By Phil Villarreal on February 2, 2011 4:20 PM
67 Comments
Interest, which us cool cats call "juice," is always flowing. It pours into the lives of those who know how to find it, while draining resources from those who buy stuff with money they don't have. It's much easier to build wealth when the juice is flowing toward you rather than away, but the trick is discovering just how to make that happen. More »
Banks To Start Paying Dividends For First Time In 3 Years
By Ben Popken on January 14, 2011 11:00 AM
23 Comments
After a 3-year hiatus, banks, plumped up by big profits thanks to a dizzying array of federal aid programs, are ready to stay paying dividends again to investors. Before they can be restored, the government will conduct a round of secret "stress tests" to evaluate the banks' financial health. If all goes well, individual investors who had seen their dividends slashed to pennies, could start once again supping from the income stream. More »
Stocks Up After Fed Releases Minutes
By Ben Popken on January 4, 2011 3:00 PM
20 Comments
The Federal Reserve Board, which sets US national monetary policy, released minutes from its latest meeting today, striking a tone of temperate growth. More »
Markets Hit 2011 With A Jump
By Ben Popken on January 3, 2011 12:00 PM
8 Comments
Markets held onto a rally Monday, spurred by news of continuing manufacturing sector growth. The Dow gained .98% in mid-morning trading, the S&P 1.24% and the Nasdaq 1.7%. But don't start firing up your Scottrades and Etrades just yet unless you've got a fifth of Pepto in your desk drawer. 2011 is looking to be just as rocky as ever. More »
Find Foreclosures Using Google Maps
By Ben Popken on December 13, 2010 11:00 AM
23 Comments
You can check out foreclosures all over the US just by drilling down in Google Maps. More »
Madoff's Son Hangs Himself
By Ben Popken on December 13, 2010 10:00 AM
87 Comments
The son of convicted ponzi schemer Bernard Madoff was found dead this weekend hanging by his neck from a dog leash. Mark Madoff's death was ruled a suicide. According to reports, he had been depressed because no one on Wall Street would give him a job. More »
SEC Charges BofA With Setting Up Fake Bids To Defraud Munis
By Ben Popken on December 7, 2010 4:00 PM
45 Comments
The SEC has charged Banc of America with fraud for rigging municipal bond sales with dummy bids, defrauding hospitals, schools, and other state-run organizations. The bank will pay $137 million to settle these charges. More »
Gold Is Not At A Record High
By Ben Popken on November 12, 2010 11:00 AM
64 Comments
Gold, gold, gold! Fools, fools, fools! More »
