Ironies yet to be: Bernanke on Time Magazine

Helicopter Bernanke has been chosen as the Person of the Year 2009. That is just ridiculous in my personal opinion.

For someone along with Greenspan created the single biggest housing bubble (in size) in human history so far, bailing out all the guilty parties and mopping up all the mistakes with even greater mistakes through printing of more free money, he is “coined” as the savior of the economy from another great depression. A country does not attain prosperity through devaluing its own currency. Such acts when the confidence game is up will be met with great consequence. I have no doubts that history in the future will not have kind words for Bernanke, nor Greenspan (whose reputation has already been turning thru this financial crisis).

Aren’t you glad that banks are paying back all the TARP money? I guess all of them are hopeful eternally, and wishing that all the option ARM and alt-A borrowers will be paying back more when they start to reset to 25-year amortization schedule, starting now until the end of 2011. I think banks are very likely to negotiate all the option ARM mortgages back to 30 years or longer if possible. Howev


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Could Using Social Media Make You The Victim of Identity Theft?

Yes, if you’re not careful, it could.

Many of the social media sites ask for all kinds of personal information. If you give it, that information could be just what an identity thief needs to complete the information he or she needs to gain access to your credit cards, and even your bank accounts.

Many people share things like the names of children and pets, birthdays, even phone numbers and addresses. Smart hackers intent on finding ways into your accounts can use that information to make educated guesses about everything from answers to your “secret” questions to the photos you choose on those sites that offer a visual passcode.

If you become “friends” with these crooks and begin a conversation, you’re apt to share even more, giving the identity thief even greater insight into how to access your accounts.

The information you share could also leave you wide open to burglary – if you talk about your family, your work, and things like vacation plans.

If you’ve been creating profiles on line, you should be keeping a close eye on your credit report – just in case you’ve already shared too much. And, maybe you shou


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‘Baffling’ new card rules hurt small firms

Many claim the penalties are being imposed wrongly, and others have been shocked to be fined for breaking rules they didn’t even know existed.

Businesses must prove they are keeping customers’ credit and debit card details safe from fraudsters. This usually means storing them in an approved electronic format.

Small business owners say they are happy to abide by the rules – but claim that they have never been told how they are implemented or regulated.

Those who break the rules have to pay tiny fines, sometimes as low as a few pence, which are added to each credit card transaction.

These fines can build up to hundreds of pounds over the course of a year. Although banks are supposed to flag up the fines, they go undetected by many of the UK’s 215,000 Small business owners.

And in some cases the fines are imposed on businesses that do comply with the rules.

Alan Piper, 56, owner of The Sun hotel in Coniston, Cumbria, noticed in August that Barclaycard was adding a 55p fine to every card payment he took – and it had been going on for two years. However, Mr Piper does not keep any of his customers’ data, but destroys it directly after use.


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Child Banking Tips……..Something interesting.

Finance or personal finance terms are generally related to the adults. This is not the subject for the minor but i have seen one very interesting video on “you tube” which will prove us wrong

As per this video financial experts are telling that we need to start consolidate out finances from the very beginning of 18 then it will help us in our future financial situation.

Just have a look & share your feedback.

So, what will be your next step? If you are adults then will u advice your children to consolidate personal finance or if you are minor then will you start planning your finances. Share your feedback through comment below.


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NY AG wins lawsuit against National Home Protection

We previously reported about NY attorney general’s lawsuit against National Home protection. On December 15, 20009 NY New York Attorney General Andrew M. announced a court victory in the lawsuit against this home warranty company. NHP’s website is not accessible any more and phone calls are not answered. The company is believed to be defunct and its customers cannot expect any service, although they might get some kind of severance from this lawsuit.

According to the reports published at wivb.com this morning, the court found NHP engaged in false and misleading advertising, made multiple misrepresentations and violated New York consumer protection and insurance laws. Subsequently, the company and its principals, Leo Serrur, David Seruya and Victor Hakim, agreed to pay $900,000 in restitution, penalties and costs. The agreement was approved by the New York Supreme Court on December 14.

NHP sold consumers yearly home warranty plans at an annual price of about $370. NHP’s advertising and contracts promised to repair or replace consumers’ household systems and appliances which failed to work properly due to normal wear and tear. Hundred


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