I’m surprised mainstream media does not talk about CDS (credit default swaps). CDSs are what crippled insurance giant AIG, and I think you will hear about this issue a lot more in the next few months… and it could get A LOT worse.
Derivatives are THE Problem
Deteriorating home values themselves aren’t to blame for the [...]

How did Congress NOT pass the bailout package?!? Are they stupid or are they crazy? or maybe they are selfish and are simply seeking re-election?
Since when are Capitol Hill pen pushers, who have absolutely no understanding of the daunting $500+ trillion derivatives bubble, qualified to vote on what is best to save the economy?
Who [...]

The FDIC (Federal Deposit Insurance Corporation) has released an interesting tool called EDIE the Estimator that can calculate your FDIC insurance coverage for each FDIC-insured bank where you have deposit accounts. EDIE lets you know in a printable report for each bank whether your deposits are within or exceed coverage limits.
Basically you type in all [...]

With the stock market in such a volatile state these days, it’s tempting to dig a hole in your backyard and bury your savings. This way you’d at least know where your money is at all times and how it’s performing for you.
Luckily, there are still some secure places you can invest [...]

If you are lucky enough to have over $100k, then the CDARS (certificate of deposit account registry service) is a fast and simple way of getting up to $50 million insured on a single CD account.
How CDARS Works
First, you have use the CDARS website to see if there are any participating banks in your [...]

If you haven’t already heard, 2 more banks failed over the weekend—1st National Bank of Nevada and First Heritage Bank. 1st National Bank of Nevada got hit hard by tanking Las Vegas real estate, and First Heritage Bank was hemorrhaging cash from soaring foreclosures in California.
Was there any way that the public could have [...]

Although optimists may argue that the worst of the credit crunch is behind us, I believe that there are still stormy seas ahead. Even JP Morgan’s own CEO, Jamie Dimon, states:
“Our expectation is for the economic environment to continue to be weak–and to likely get weaker–and for the capital markets to remain under [...]

This is Friday’s movie of the day. I’ve posted this clip in the past, but it’s important for everyone to learn how the Federal Reserve is robbing the public.
Watch all five parts of the movie. The first one is playing below.

Read on for clip #2.

I dropped by an Indymac branch in San Marino, CA today to see what was going on.
I arrived with popcorn and soda, HOPING to see either a frenzied bank run or a bloody riot, but the bank was actually closed…
Many customers were confused about the details of FDIC insurance limits. I was [...]