Over 14,000 people wrongly received a housing tax credit including 1,300 prisoners. 241 of the prisoners are serving life sentences (CNBC). Aid or assistance from government often results in fraudulent claims. Whether it was Katrina relief, housing tax credits or Gulf oil spill claims, fraud will be present.

Since rates are already near zero and the Fed just stopped buying mortgage-backed securities, the guest in the below video expects the Fed to stop paying interest on banks’ excess reserves, which in theory will force banks to lend. A move which would also lead to increased inflation in a short time (if the banks do lend).

Democrats will not pass a budget this year because they have fully realized that people are pissed about the deficit and the spending.  By passing a budget, they will put on the front page of major newspapers the trillions in additional deficit spending that they fully intend to execute over the next year.  This will further hurt them in November mid-term elections.  What a predicament.
The solution of course is to just not pass a budget!  This has never been done since 1974 when the current budget rules were put in …

The world of freelance writing is open to anyone with enough writing experience to put a few sentences together in a coherent fashion. For students or people that are unemployed, the prospect of making a few extra dollars every day is very appealing, considering how easy it is to get started with a freelance writing career.

The post-tax rebate housing data continues to disappoint, and it continues to tell potential homebuyers (if there are any these days) to wait, wait, wait.  Prices will undoubtedly go lower, and I am wililng to be mortgage rates do as well.
Housing is a disaster.  Still.  It’s going nowhere but down.  If you think I’m cheering this on, be assured that I own a home and am losing my butt on it as well, so I’m in this with you.  Reality is reality I’m afraid and housing is going to get …

European countries are implementing austerity measures in an attempt to control deficits and bring their financial state to a manageable level. Since the Greek “mini-crisi’ earlier this year, these measures have been put into place. The most recent action is in the UK.

Our fearless politicians here in America have a habit of pounding the table over “Chinese currency manipulation.”   While that term might make your eyes glaze over, I assure you that this is something to which you should actually pay attention.
The concensus in most developed countries is that a weak currency is good since it stimulates exports and brings money into the country.  The result then is a race to the bottom, where there is literally competitive devaluations.  In tandem with this course of action is the anti-Chinese rhetoric demanding that …

What is debt exactly that it entangles us in its web at the ripe age of 18? Debt is defined as something that is owed as a result of an obligation to repay something that was borrowed; if only it were that simple. What are we being educated as adolescents and young adults about Debt? Some think debt is the $20 they owe a friend and feel obligated to repay; while failing to begin paying down the thousands of dollars owed in student loans. Is debt the monthly cell phone …