Credit cards are in the news of late. Defaults and charge-offs (when card company treats debt as uncollectible) are at record highs. Card companies are responding by raising interest rates, cutting limits and increasing fees. Politicians are responding to that by drafting legislation to keep the card companies in check. Card companies
In this Saturday's New York Times, writer Joe Nocera (Pulitzer prize finalist) writes about standing in line on Thursday, March 12 to see Bernie Madoff plead guilty... speaking with victims of Madoff's chicanery. In Nocera's unscientific survey of victims, he found that many of them want "justice" - in the form of government assistance (e.g. tax
Last week's blog entry was about the mindset and strategies we all need to bring to the economic crisis, the goals being both survival and prosperity. I would be remiss in discussing any challenge without focusing on the subject of persistence. In both good times and bad, an unwillingness to give in to circumstance is critical for success in
No one knows when the meltdown is going to end. I am predicting 24 months. My guess is as good as anyone else's. However, after studying successful people for 30+ years, I do feel I have insight into the approaches of those who will survive and prosper during and after the meltdown. Here are four of my top ten (more to follow): 1. Yesterday is
Wow! I have been a real estate attorney for thirty years and for perhaps the first time a real estate legal issue is making the news: Can a first mortgage be refinanced or modified without the consent of the second mortgagee? President Obama unveiled his $275 billion housing bailout yesterday, the core of which is mortgage modifications or
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