As featured in The Wall Street Journal, Money Magazine, and more!

Economy

The Consumer Financial Protection Bureau’s Director, Richard Cordray

by Luke Landes
Richard Cordray

As many Presidents of the United States have done, President Obama avoided confrontation with Congress by appointing an individual to direct a government organization while lawmakers were on recess. Yesterday, the President appointed former Ohio attorney general Richard Cordray to the long-delayed position of director of the Consumer Financial Protection Bureau (CFPB). Now that this […]

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The 3/50 Project: Help Your Local Economy

by Emily Guy Birken
Bakery

This is a guest article by Emily Guy Birken, author of The SAHMambulust. In this article, Emily explains and reviews the 3/50 Project, a movement designed to boost local economies. The presents have been given out, the wrapping paper has been cleaned up, and Black Friday, Cyber Monday, and Small Business Saturday from American Express […]

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Occupy Wall Street Protests: Money is Power

by Luke Landes
Occupy Wall Street Protest

As every fourth graders knows, the United States Constitution begins, “We the people…” In the years following adoption of the Constitution, there have been movements to include more classes or types of human beings into that “people” represented by the federal government. The basic rights guaranteed by the core philosophy of the government once applied […]

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2011 Stimulus Package: American Jobs Act

by Luke Landes
Dollar - 2011 Stimulus Package

Update: The Buffett Rule, if implemented, could help pay for the American Jobs Act. As long as the public holds the general impression that economy isn’t favorable, and that’s certainly the case, for example, when unemployment is high or after a stock market crash, political leaders will propose stimulus plans to help move the country […]

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U.S. Will Sue Major Banks Over Mortgages

by Luke Landes
Foreclosure

Imagine you’re shopping for a new high-definition television. You’re looking around the store for the television with the best picture from a brand you trust. You pick the one you like, not the least expensive model but not the most expensive, either. You take it home, plug it in, and all the television can display […]

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$1.2 Trillion in Secret Fed Loans

by Luke Landes

We know about TARP, the program that used taxpayer money to lend to the biggest Wall Street banks tin an effort to prevent the collapse of the financial industry. The Federal Reserve loaned more money to Wall Street, however, in secret. The details are only coming out now thanks to the Freedom of Information Act […]

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Credit Market Improving, Will Economy Follow?

by Luke Landes

The Federal Reserve Bank of New York released their quarterly evaluation of the credit markets, and they are reporting some good news for consumers. Total consumer debt dropped $50 billion since last quarter, ending at $11.4 trillion on June 30. Mortgage balances and home equity credit balances declined, contributing to the overall decrease. Debt not […]

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What Happens If The Debt Ceiling Isn’t Raised?

by Luke Landes
Debt Ceiling

Democrats and Republicans in Congress, not to mention the President, are battling over what to do about the debt ceiling, an arbitrary limit of government borrowing set by Congress. The government borrows money from investors in order to pay its expenses, like salaries and Social Security, and if the government is unable to borrow, eventually […]

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America’s Lost Decade

by Luke Landes

Larry Summers, former economic adviser to Barack Obama and Treasury secretary under Bill Clinton’s presidency, shared his thoughts on the economy through opinion pieces in the Financial Times and Washington Post. His concern is the possibility that the United States is heading for a “lost decade” similar to Japan’s lost decade in the 1990s. This […]

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Federal Reserve’s Secret Bailout Helped Banks Profit During Crisis

by Luke Landes
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While the Federal Reserve was publicly providing money to member banks at interest rates of up to 0.5 percent during the financial meltdown of 2008, a different, less public program bailed out Credit Suisse, Goldman Sachs, and Royal Bank of Scotland with short-term loans with an interest rate of only 0.01 percent. Those banks received the bulk […]

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