The 'Super Banks' aren't so Super

The three new Super Banks, Bank of America, JP Morgan Chase and Wellsfargo now have more consolidated money and power than any institutions in US history and they are using that power to charge higher and higher fees. In fact, you could easily see $200 in fees for a single overdraft. Here is the situtaion, say you go shopping and you buy stuff from six different stores throughout the day, you know you went below zero in your account on the first transaction but no big deal, you can just move money into the account when you get home. Wrong! You just racked up $35 for each transaction. The new term is ‘fee-ed’ to death.

http://www.msnbc.msn.com/id/27441147/

700 Families foreclose each day in So. California

I found this very good video news report yesterday watching the News Hour. I was surprised by what people leave behind when they leave a foreclosed home. Some people leave everything and just walk out the door. Very sad but informative. Watch the video.

Click to view the video

Ron Paul on the bailout plan

Click to see Ron Pauls thoughts on the recent bail out plan.

I love the line, "if printing more money solved everyone's problems then why work. We could just print money"

Survivor - the TV Show

I am a fan of Survivor and although I have skipped a few show hear and there I mostly follow it. I found this article about what happens behind the camera and wanted to share it.

http://www.msnbc.msn.com/id/26726792/

Titanic (Global Economy) and deck chairs

This is a great blog post from Silvia Wadhwa. It's best if you read down to the video clip, start the video clip and continue reading as it plays.

http://www.cnbc.com/id/27043945

This Bailout won't be the last

To say that no on knew this wouldn't happen is just not correct. In 2003 Ron Paul a congressman from Texas gave the speech below outlining what would happen if the government continued to subsidize the housing market through Fredie and Fannie. Read below.

http://www.house.gov/paul/congrec/congrec2003/cr091003.htm

http://www.usnews.com/blogs/the-home-front/2008/09/19/ron-paul-this-bailout-wont-be-the-last.html

Bailout will cause a US Depression, Says Hennecke

The end result of the global economic slowdown may be the U.S. announcing national bankruptcy as the government cannot afford the bailouts that it promised and the market will not bail out the government, Martin Hennecke, senior manager of private clients at Tyche, told CNBC on Thursday.

Full Article below:
http://www.cnbc.com/id/26656750