Should we bailout the US big 3 automakers?   Apparently that’s the new question on the street.  Not only is the housing market going down the toilet but the automakers are apparently failing fast.  They are in dire need of help or else millions of jobs will be lost, approximately 2.6 million jobs. I say no. [...]

[Read more →]

I haven’t had time to post but the US government is no longer interested in purchasing toxic mortgages and taking them off the books from banks. Instead the Federal Government will provide capital to banks by purchasing stock in the companies.  Honestly this sounds like a better plan, though I’m unsure if it’s the Government [...]

[Read more →]

My DH and I enjoy playing video games.  We own a Nintendo Wii and bought it when it came out.  We have a few games and previously owned a Gamecube.  It was not an expensive system and we bought it by flipping a couple of other systems just because we had picked them up on [...]

[Read more →]

I was listening to NPR last week. There were two really interesting articles.  One was about the Government Plan to guarantee mortgages and Mortgage modifications won’t benefit everyone.
So the first interview talked about the Government helping people  stay out of foreclosure.  What that means is they will guarantee the mortgage with banks so then banks [...]

[Read more →]

Okay, since I’m posting my net worth, I am probably going to be ready to cry soon. I know our investments are down like 30-40% for the year.  Sure it’s bad but we’ve got time to rebound and recoup.  We’re still investing and sitting tight. No panicked selling though I have to reconsider what we [...]

[Read more →]

So DH and I had a Home Equity Line of Credit set up with Bank of America.  We have our mortgage with them and our checking.  Anyway we set up the home equity line when we got the mortgage in case of emergency.  We haven’t used it, but it was comforting in case of emergency [...]

[Read more →]

I was reading an interesting article about the disappearance of the middle class.  In my book review “The Middle Class Millionaire“, the authors found that in this last decade we have moved from into a society divided into the haves and the have nots.
First, what is middle class? The article describes it as being able [...]

[Read more →]

I just finished watching the debate and I laughed over the irony.  AIG spent $440k on a vacation celebrating their GOVERNMENT BAILOUT one week after it came through! They took their top executives on a CELEBRATORY vacation!
So why did I laugh?  Well Barack Obama said the money should be returned and the executives should [...]

[Read more →]

Well the bailout passed. I am very disappointed. It went from a $700B bailout package to a fat pork bacon $810B bailout package. The bill was signed today by President Bush and passed in Congress by 263 to 171 in the House.  I hate this bailout.  I cannot believe Congress turned down a bailout last [...]

[Read more →]

Should we be allowed to walk away from foreclosures?  On savingsadvice financial forums a poster called “foolfromAZ” asked the question if he should allow his home to be foreclosed upon.  I’ll post the details and discuss what his options are and if they are viable and perhaps we can all weigh in.
FFA bought at the [...]

[Read more →]