A question posted on a money message board was, is it wrong to settle with creditors?  And earlier in the week, an article in the New York Times says that Credit Card companies are slashing balances. What does that mean?  Basically it’s asking a creditor to accept less money than the amount owed.  This typically [...]

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From Graceful Retirement, she put up a very interesting link to an article called “My Personal Credit Crisis.”  The meltdown of the Edmund Andrews, an economics reporter for the New York Times.  He starts out by saying that he should have known better.  He reported the how the economy was doing, what Alan Greenspan said, [...]

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A few months ago as the credit froze and the markets crashed, I said I would write about Credit Default Swaps (CDS). I was listening to National Public Radio about it here and here.  They explained what CDS was and how it hurt our economy. I was appalled when I heard about it.  You thought [...]

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Liz Pullian Weston asks the question on MSN “What if we all got money-smart?”  She says what if every household in the US paid off credit cards in full and never overcharged.  Or they were saving 10% for retirement, and they had a emergency fund of at least 3 months.  And we bought cars only [...]

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