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Three Banks and One Insurer Fail Fed’s Stress Test

by Flexo

After the recession, the Federal Reserve developed a stress test for banks and financial firms too big too fail. The stress test looks at the financial condition of these corporations and simulates a new recession. Under the simulation, based on a worst-case scenario, not an actual economic forecast, banks pass the test if the companies ... Continue reading this article…

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Unemployed Lawyers Sue Their Law Schools

by Flexo

A group of fresh, unemployed lawyers have banded together to sue law schools. 73 alumni have filed at least fifteen class-action lawsuits, alleging the schools inflated employment figures and salary data to attract students and increase rankings. The real goal of the lawsuits seems to be to effect systemic change in the education industry and ... Continue reading this article…

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TurboTax 2012 Online Review

by Flexo

This is a relatively long review of TurboTax 2012 Online, software for completing tax forms and submitting them to both the federal and state authorities. I’ve updated the review to reflect the changes to the software in 2012 (for filing 2011 tax returns). Recently, the IRS began accepting federal tax returned filed electronically. Even before ... Continue reading this article…

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Frugal Employers Will Lose Their Talent

by Flexo

During the recession, my employer, a firm in the financial industry, eliminated raises for employees at the Vice President level and above for one year. The company, although continuing to perform well compared to its peers, cut back bonuses and other benefits. It’s easy for employers to demand higher productivity for less compensation when the ... Continue reading this article…

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The Best Credit Cards 2012

by Flexo

If you follow credit card offers like I do, you might have noticed that this past year was particularly exciting. Credit card issuers have been heavily marketing products in search of customers, spending more advertising dollars per customer than they have in recent years, and increasing rewards for the best customers. For individuals who have ... Continue reading this article…

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Binding Arbitration: Wells Fargo Taking Away Customers’ Rights

by Flexo

February 14, 2012 update: The change in terms described here goes into effect tomorrow. It’s not too late to switch banks. If you enter into an agreement with a company, and that company does something to wrong you, most of the time you can avail yourself of the American judicial system to correct the problem. ... Continue reading this article…

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Payroll Tax Cut Extended for Two Months

by Flexo

After political bickering, the House of Representatives agreed to make a deal with the Senate to extend the payroll tax holiday. This tax cut reduced the payroll tax — a tax separate from but often associated with federal income tax — from 6.2 percent to 4.2 percent of the first $110,100 of wages. The tax benefits Social ... Continue reading this article…

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