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We’ve heard a lot about “toxic debt” in reference to banks and subprime loans, but what about personal toxic debt? Toxic debt for individuals, not to be confused with Zombie debt, is debt where: The lender can change rates and terms at any time. The standard or default interest rate is in the double digits Initial [...] Got credit card debt? Need a bailout? Well, you may be getting one. According to a USA Today article: “This year, delinquent credit card accounts hit a six-year high of 4.9%. Meanwhile, charge-offs – when banks give up on collecting debt – have been rising for about two years, hitting 5.47% in the second quarter, the latest [...] File under: “huh”? I’m not sure why, but Nasdaq has released a “New Benchmark Tracks Companies That are Participating in the U.S. Government’s Financial Relief Plan“. It’s called the “NASDAQ OMX Government Relief Index” and it’s ticker is QGRI. My first thought is, “Why?” I mean, these banks are not likely to be profitable any time soon [...] Here’s an article from the AP that now reads “S&P index shows plunge in November home prices“, though when I found it yesterday the headline was “S&P index shows posts sharpest decline in home prices on record”! I think you’ll agree the latter is a bit more eye catching, if not dramatic. The point is though, that [...] |
 
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