economic growth

2.7 percent Economic growth outperforms estimates

According to the Commerce Department’s GDP report, the annual economic growth rate of the U.S.  rose to 2.7 percent in the third quarter of 2012. However, economists expect that growth to slow a bit before the end of the year. Economic growth accelerating for the year The annual economic growth was measured at only 1.3
The Pentagon

Institute of Medicine blasts $750 billion of annual medical waste

The Institute of Medicine, part of the National Academy of the Sciences, has released a report damning the American medical industry. The IOM blasts the titanic amount of waste and fraud, as medical waste is accounting for $750 billion being added to the annual medical bill for the nation. Medical waste amounts to more than
An illustration in reference to the percentage of interest on a home loan

Can the Loan Quality Initiative Hurt You?

The Fannie Mae Loan Quality Initiative The Loan Quality Initiative is a mortgage loan quality control measure enacted to cut down on Fannie Mae foreclosures. In most cases the Fannie Mae Loan Quality Initiative requires lenders to pull a borrower’s credit report a second time at closing. If the borrower has applied for credit since

Fixing maintenance problems will save you home insurance cash

Home insurance is intended to help lessen the financial blow when something unexpected happens to your home. One thing many homeowners neglect to acknowledge is that not making basic repairs could negate insurance coverage. The cost of basic home maintenance Owning a home means paying for a certain amount of basic home maintenance. Homeowners insurance

Romney continues to flip-flop on Detroit

Three years ago, GOP presumptive candidate and Detroit-native Mitt Romney said America should let its top automakers go under.  Then, last month, he tried to take credit for the auto industry bailout. He is now saying he would sell out the nation’s remaining stake in GM at a loss. Detroit flip-flops In 2009, President Obama’s

Judge orders union and Hostess mediation, saves Twinkie

The worst crisis the world has ever faced has perhaps been saved by two aggrieved parties agreeing to potentially compromise. It isn’t peace in the Middle East, but instead the judge overseeing the Hostess liquidation has set up a union and Hostess mediation, possibly saving the Twinkie. Union and Hostess mediation arranged The most devastating
woman online

Women investors are better than men, studies say

Traditional Wall Street wisdom would have us believe that, when it comes to investing, women are inferior to men because of their more emotional nature. However, two new studies fly in the face of that wisdom. Both conclude that, not only do women investors have the edge over men, but that edge is precisely because
Gen Z and money

Gen Z learns from money woes of parents

A recent study shows that Generation Z — those young people between the ages of 13 and 22 — are already saving and thinking about how they will pay for college. Growing up in downturn Earlier studies have indicated that young adults — so-called Generation Y, or Millennials — are more knowledgeable and concerned about
school lunch

Save time and cash with healthy school lunches

If you have school age children and a job, you know that mornings can be a perfect storm. You want to send your kids off with healthy and appealing school lunches; but in all the chaos, its so much easier just to give them money or to toss chips and a Lunchables into a bag. 

Fannie Mae posts $5.1 billion profit in Q2

Fannie Mae announced a net income of $5.1 billion in the second quarter of 2012. It is the Federally-run mortgage buyer’s second consecutive quarterly gain since government intervention, following the Great Recession. The posting leaves little doubt that the U.S. housing industry is gaining ground. Fannie Mae quarterly gain $2.2 billion Wednesday, Fannie Mae announced

Try cashing in a CD when buying a car

If you’re in the market to buy a car and are wondering what kind of auto loan you can get with your credit score, you’re already barking up the wrong tree. Plan ahead by investing in a certificate of deposit, put money into it regularly, and you can make a car purchase a reality within
An Air France Boeing 747 in the sky.

How travel can aid your career

Travel is one of the more enjoyable experiences in life. However, it can be worth more to you than free drinks and the serenity of pristine resorts and beaches. Learn how travel can aid your career. Gain foreign language skills High school and college foreign language courses are only the beginning of being able to
student debt

For-profit schools fail to meet federal aid rule

The Department of Education has placed for-profit educational institutions on warning. Too many students from these institutions are finding it hard to pay off their student loans, says the federal agency. If the situation does not reverse, those schools could lose access to federal student aid. The gainful employment rule The U.S. Education Department said

Presidential debate was a mis-matched sporting event

What I mostly walked away with after Wednesday’s presidential debate was that the election process most resembles a sporting event during the debates. Calling the presidential debate Most commentators, like refs at a sporting event, are calling Wednesday’s presidential debate on gamesmanship, and not on substance. Romney, they say, was the clear victor. Never mind
A home-made water rocket.

Cool, cheap summer fun: How to make a backyard water rocket

It’s hot outside, your kids are looking for new outdoor entertainments and you want to stimulate their minds during the long break from school. Why not teach them about Sir Isaac Newton’s third law of motion by learning how to make a water rocket? Instruction in equal and opposite reaction has never been so cool,

Save money on travel by avoiding expensive airports

Labor Day is just around the corner, which means a lot of people will be taking to the road or flying the friendly skies. However, consumers should be aware that some airports are a lot more expensive to fly from than others. More carriers means less money spent on tickets The first weekend of September

HSBC latest bank caught money laundering for drug cartels

HSBC, one of the largest banks in the nation, and in fact the world, has been caught money laundering for drug cartels and a veritable murderer’s row of international criminals. Though the bank is clearly culpable for its actions, it is hardly the first of its kind. Largest bank in Europe caught money laundering for