Finance Globe

Beat the Winter Blues, Forget the Financial Troubles (at least for a day), and Go Have Some FunIt's that time of year where every one gets a little anxious for winter to be over. We're tired of the cold, wet weather and we're ready to get out and go do something. And this winter's just a bit more dreary than many previous winters. The financial crisis is on every body's mind, and many of us have...

President Obama has said that it will take a three-legged stool to fix the nation's economic troubles. Last week, Treasury Secretary Timothy Geithner unveiled the Financial Stability Plan - a measure to prop up the nation's banking system and get credit flowing again so that businesses and consumers can begin spending normally again to support the economy. The economic stimulus package known as the American Recovery and Reinvestment Act 2009 was signed by Obama on Tuesday...

The Securities and Exchange Commission reported Tuesday that it has charged Robert Allen Stanford from Texas and three of his companies for orchestrating a fraudulent scheme centering on an $8 billion CD program. The affiliate companies within Stanford Financial Group that are alleged to be involved in the fraud include Antiguan-based Stanford International Bank, Houston-based broker-dealer and investment adviser Stanford Group Company, and investment adviser Stanford Capital Management. The SEC also charged Stanford International Bank chief...

The American Recovery and Reinvestment Act 2009 was passed by the House and Senate last Friday and President Obama will sign the legislation into law on Tuesday in Denver, Colorado.Governor Ritter said, "The decision by President Obama to sign the American Recovery and Reinvestment Act here in Colorado is a history-making honor and privilege for our state. It is a testament to the President's belief that this package will help people in states all across America."Lawmakers'...

Just like many other holidays, Valentine's Day can be a source of stress for people who want to find the perfect way to show their loved one how much they really care. And it can be especially stressful for those who have to limit their spending in the process. But there's no reason to give in to the commercialism, the old cliches of candy and roses, or even the belief that diamonds are a girl's best...

The Federal Trade Commission reported on Wednesday that they've charged a mortgage foreclosure "rescue" operation with violating the FTC Act by falsely claiming that they would stop foreclosure or fully refund the consumer's money.A federal court ordered a halt to the alleged practices and froze the defendants’ assets pending trial. Many people who paid the company ultimately lost their homes to foreclosure, and others avoided foreclosure only through their own efforts. The FTC seeks to prohibit...

The House and the Senate reached a compromise this afternoon on the much anticipated American Recovery and Reinvestment Plan. Lawmakers found a middle ground to settle the differences in the Senate's version of the bill with a $838 billion price tag passed just yesterday, and the House version calling for $819 billion that was passed on January 28.Senate Majority Leader Harry Reid said, "The difference between the bills were really quite similar and I'm pleased to...

Treasury Secretary Timothy Geithner on Tuesday unveiled the government's plan to attack the ongoing credit crisis and stabilizing the nation's banking system. But before outlining the Financial Stability Plan, he explained how economic growth was dependant on the flow of credit, and how access to credit was essential for people to own a home, buy a car, or pay for higher education. "Without credit, economies cannot grow at their potential, and right now, critical parts of...

As consumers continue to limit their spending, increase their savings rate, and decrease their credit balances to protect themselves from the unknowns in the economy, businesses across nearly all industry sectors continue to cut jobs.The government reported today that the U.S. economy lost another 598,000 jobs in January, the biggest monthly decline since December 1974.The overwhelming number of lost jobs brings the national employment rate to 7.6%, up from December's 7.2%. Analysts had predicted a rate...

The Labor Department reported today that the estimated number of recently unemployed workers claiming benefits for the first time increased to 626,000 for the week of January 31, 2009, up by 35,000 from the previous week. Analysts had expected about 583,000 for that week.It's estimated that there were nearly 4.8 million insured unemployed for the week ending January 24. This number doesn't include the 1.7 million persons claiming Emergency Unemployment Compensation. EUC was signed into law...