April 20, 2010

Commit Fraud, Get Free Money

Borrow at 0%, Lend at 3%, Make Billions Is it customary, when someone is charged with fraud and awaiting trial, to leave them in possession of the victim’s credit cards, and, indeed, to continue to allow them to spend and gamble the victim’s money? In the corporate arena, apparently the answer is “yes.” U.S. vs....
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Baby Boomers & Reverse Mortgages

Next Big Thing: Reverse Mortgages Take 80 million Baby Boomers fast closing in on retirement age, many of whom (still) have lots accumulated equity in their now too-big homes, and what do you get? A vast potential market for something called a reverse mortgage. Like its name suggests, in a reverse mortgage, the lender pays...
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Downtown Minneapolis Parking — Or Lack Thereof

8th Time is the Charm?No, downtown Minneapolis doesn’t literally have “Keep Out” signs posted on its perimeter. But it might as well have. I just returned from a (thankfully rare) appointment downtown, and spent double the time it took me to get downtown, about 10 minutes, looking for parking once I got there. Thanks to...
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Post-March 31 Mortgage Rates Flat

The Dog That Didn’t Bark? So, the Federal Reserve finished its massive, $1.25 trillion purchase of mortgage securities almost three weeks ago. Have mortgage rates spiked upwards since then? Nope, they’re basically unchanged. What could that mean? Other investors — supplying fresh capital — have taken their place (the “supply explanation”); a weak economy is...
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