Ireland may come to regret joining the EU
@ November 13, 2008 # No Comment Yet
For the past decade Ireland has experienced huge economic growth, 7.5% per year, as evidenced by huge jumps in immigration and building. Major American companies, such as Dell, have flocked to the Emerald Isle to take advantage of Ireland’s new found prosperity. Many credited inclusion in the European Union and adoption of the euro for the growth. Unfortunately, that which giveth may very well taketh away. Ireland is in trouble and the EU may be adding to the problems.
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American Express. Is the wallet empty?
@ November 12, 2008 # No Comment Yet
American Express wants $3.5 billion in taxpayer bailout money, which explains why earlier this week Amex was deemed by the Federal Reserve to be a “bank holding compnay”, giving it access to Fed financing.
American Express has hit troubled times recently because its business model relied heavily on selling packages of credit card debt to investors; [...]
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Dr. Doom says the worst is yet to come.
@ October 27, 2008 # No Comment Yet
Nouriel Roubini, a NYU economics professor, has earned the right to tell the world “I told you so.” Roubini, nicknamed “Dr. Doom” by those stupid enough to dismiss his economic predictions, foresaw the current economic situation, including the specific events that have led us here, with chilling accuracy. And he says it’s not over yet.
Roubini [...]
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Federal student loan market gets more help
@ October 12, 2008 # No Comment Yet
On 10/10/08, Treasury Secretary Paulson and Education Secretary Spellings declared that they would take steps to support the student loan market, which has been devestated by the overall credit tightening by US lenders.
Bush recently extended the Ensuring Continued Access to Student Loans Act, which allows use of federal funds to ensure access to student loans. [...]
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Families forced to bail out their own students
@ October 12, 2008 # No Comment Yet
Two-thirds of college students in the United States have to borrow to complete their education. The average loan is now $22,000; many have credit-card debt as well. As the job market for new college grads has shrunk, it is expected that defaults on student loan payments will rise. This is not a great way for [...]
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