In case you haven’t noticed, Washington is currently consumed in an acrimonious debate over whether to raise the debt ceiling. There is no agreement about whether to do so or how, but both parties appear to accept the logic …
debt
Will the Debt Ceiling Standoff lead to a Muni Bond Crash?
Meredith Whitney may end up being right about about the municipal bond market.
Late last year, the Wall Street analyst famous for predicting the financial crisis began warning that the municipal bond market may be headed for a crash. Whitney predicted that there could be as many as 100 municipalities that end up being unable to pay …
Americans in Debt: Just How Bad Off Are We?
There are a number of possible reasons the recovery has been slower than expected. Foreclosures. Banks making fewer loans. American companies doing more of their hiring overseas. The adoption of new regulations to stop another financial crisis. My colleague Roya Wolverson has discussed, here and here, the things that could be a …
One Really Bad Way to Overhaul the Student Loan Market
Jonathan Glater, a visiting assistant professor of law at the University of California, Irvine, and a former reporter at the New York Times, has published a paper called The Other Big Test: Why Congress Should Allow College …
Sallie Mae’s Misleading and Dangerous Press Release
Our old friend Sallie Mae is up to her old tricks again: trying to sell students on extremely dangerous variable rate private student loans with this press release, which touts “changes in the law and improvements in the economy that translate into student loans at among the best interest rates in the last five-year period.”
Could China Be the Next Greece?
There’s a lot of finger wagging going on in the world about America’s profligate ways. And a lot of comparisons between the budget troubles of the U.S. and the horrors facing Greece. The West, the story goes, stupidly spent beyond its means while emerging markets wisely saved their pennies for rainy days like these. But the West isn’t …
Profitable Nonviolence
How the surprising effects of violent movies can help us to make smarter money decisions.
Social Security: What Does AARP’s Move Mean for the Debt Debate
UPDATED 4:06PM 6/17/11
When it comes to solving America’s debt “problem,” what we usually hear about is spending cuts or tax increases. Few talk about cutting Social Security. The program is wildly popular. It’s also a huge contributor to the nation’s debt problem. That’s why today’s news, via the Wall Street Journal, that the AARP …
I Borrow, Therefore I Am!
A recent study led by Ohio State University Professor Rachel Dwyer yields a shocking, appalling, and mostly just terrifying conclusion: Many young people feel empowered by their student loan debt — and even by their credit card debt.
What Can You Do To Help Greece? Go There
It now appears that Greece will once again be bailed out of its financial morass. A year ago at this time, the world was roiled by the prospect of Greece defaulting on its considerable debts, and only the reluctant decision of …
The Shame of the Ratings Agencies: How Moody’s Blows It Again
If the economic news wasn’t bad enough after the release of yet another anemic jobs report, the highly influential global ratings agency Moody’s just announced that it was contemplating a downgrade of the U.S.’s credit rating.
Who You Calling a Deadbeat?
Turns out that all mortgage defaulters are not created equal.