Good Riddance 2009
Last year saw a lot of ups and downs. We started off watching the car industry with some disgust, questioning the culture of mediocrity that allowed the situation to spiral out of control. We say: Too big to fall? Too big to exist. Get on top of your credit and take control of your life. [...]
Wells Fargo Sues Itself
photo credit: Krawiec @ USA – NJ It’s another head shaker straight out of Florida as “Wells Fargo Bank NA” sues “Wells Fargo Bank NA” for outstanding liens against properties involved in foreclosure. In what sounds like the most idiotic chain of events, the bank has hired an attorney to defend itself from, well, itself. [...]
Reverting to a Cash Society
photo credit: TheTruthAbout… A lot of interesting things have happened in the past several months as people from all walks of life learn how to stretch their money. A lot of changes have been accelerated by the fuel shocks during the summer of 2008; in a lot of ways we seem to be reverting to [...]
Citigroup Splits
Despite their expensive newspaper ads insisting all is well, it turns out that Citigroup is in fact – wait for it – having problems! Now that the government is their biggest stakeholder with $45 billion in bailout funds, the company has basically abandoned its “lets become as big as we can” and has started selling [...]
GM Hopes to Improve its Fortunes by Lowering its Lending Standards
In another disgusting development, GM has announced it will be pushing profits by selling financing for its SUVs to buyers whose credit scores would have previously been unacceptable to the company. Whereas before the minimum credit score of 700 was needed to be accepted for financing, the bar has now been lowered to 621 (620 [...]
Citigroup staves off financial woes by placing expensive newspaper ads
This morning newspapers across America will feature full-page ads by Citigroup reassuring everyone that the economic situation isn’t hurting the company but rather it is the fear-mongering by competitors bringing them down. Likewise if the Feds had only allowed them to merge with Wachovia, Citi would be sitting on their haunches enjoying tea right now. [...]
