Articles

GM's bankruptcy is being met with a huge cheer. Doesn't make too much sense.

Last week, the American Bankers Association sent a letter to Sheila Bair, the Chairwoman of the FDIC complaining about the high rates offered by Ally Bank (formerly GMAC). Today, Ally Bank sent its rebuttal.

The American Banker's Association sent a ltter to the FDIC's Sheila Bair on May 27th, requesting the agency take action to force Ally Bank to lower its rates. They claim Ally Bank is acting irresponsibly by offering above market rates. I don't see the ABA sending letters to agencies when banks raise the rates on their credit cards to usurious levels.

The one thing that everyone should have learned after the last year: if something is too good to be true, it probably is.

For those who don't drive much, usage based auto insurance could provide savings. There are privacy concerns, and more importantly, there are still few options as insurance companies are slow to offer these types of policies.

Have homeowners been helped by last year's Countrywide settlement?

Yale's David Swensen, the best performing university portfolio manager over the last 20 years recommends TIPS as a way to hedge against potential inflation caused by the government's economic recovery spending.

Affinity Bank is offering an 8-month CD paying 2.25% APY.

I use my credit cards responsibly and pay off my balance each month. I am not enthusiastic about the plans of the card companies to go after me in order to make up for their losses on others.

If you are awake before 6AM and turn on CNBC, you will see that the mood outside of the US is dramatically different from that in the US.