With a new FHA Home Equity Conversion Mortgage Program (known as HECM), one of the biggest upfront fees that borrowers are expected to pay will be almost eliminated. But The New York Times article, Changes on Reverse Mortgages Will Alter Fee Structure, warns that the "ongoing monthly insurance premiums will rise drastically". more »
Female managers in 2007 had less education, were younger on average, were more likely to work part-time, and were less likely to be married or have children, than male managers. more »
Bernanke: "The crisis should motivate economists to think further about their modeling of human behavior"
"The profound uncertainty associated with the 'unknown unknowns' during the crisis resulted in panicky selling by investors, sharp cuts in payrolls by employers, and significant increases in households' precautionary saving." more »
For far too long, banks have encouraged abusive use of debit cards, and have pocketed the resulting punitive fees with, I’m sure, big, understanding smiles on their corporate faces. These days, more and more high schools are offering “life skills” classes that teach kids how to make a budget, handle a checking account, read a credit card agreement more »