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What does the European debt crisis mean to you?
Gang of Six presents debt reduction plan [CNN 7-23-2011]
Visit: MeTee.com Support this Youtube channel and Design & Publish a T-Shirt using the link above. This channel is brought to you by MeTee T-Shirts: The place for on-demand t-shirts. T-shirt design in seconds & always free shipping. – Saturday July 30 2011 1:06 pm www.cnn.com Mel Colm-Cille Gerard Gibson, AO (born 3 January 1956) is an Australian-American actor, film director, producer and screenwriter. Born in Peekskill, New York, Gibson moved with his parents to Sydney, Australia when he was 12 years old and later studied acting at the Australian National Institute of Dramatic Art. After appearing in the Mad Max and Lethal Weapon series, Gibson went on to direct and star in the Academy Award-winning Braveheart. In 2004, he directed and produced The Passion of the Christ, a controversial, yet successful, film portraying the last hours in the life of Jesus. In recent years, remarks by Gibson have generated accusations of homophobia, antisemitism, racism, and misogyny; he has apologised repeatedly for the statements and denied that they represent his real opinions. – Like/Dislike, Comment, Favorite and share on Twitter, Facebook, and Google+ to get the word out on this video. Signup for the Daily News Email Subscription: tinyurl.com If you are interested in becoming a channel sponsor for /day for 30 days send a Youtube Private Message letting me know.
Greece debt crisis: PM faces vote of confidence over economy woes
Greece debt crisis: PM faces vote of confidence over economy woes www.france24.com
Police, protesters clash over debt crisis
Greece receives vote of confidence over its handling of the debt crisis. But protesters are upset with the new budget cuts and taxes Greece will impose to get more bailout money.
Duration : 0:0:26
Hunt on Debt-Reduction Talks, Jon Huntsman, Rick Perry
June 21 (Bloomberg) — Al Hunt, executive editor at Bloomberg News, talks about today’s meeting among Vice President Joe Biden’s bipartisan negotiators over the U.S. debt reduction.
Hunt, speaking on Bloomberg Television’s “InBusiness With Margaret Brennan,” also discusses Republican Jon Huntsman Jr.’s presidential bid and the possibility Texas Governor Rick Perry may also enter the race. (Source: Bloomberg)
Duration : 0:4:28
Face the Nation 06.19.11
Mitch McConnell speaks with Bob Schieffer about raising the debt ceiling, overregulation of the American people, and tax reform to help stimulate the economy; Then, Senator Charles Schumer discusses job creation and how it must be more of a focus than debt reduction; Also, Bob Schieffer speaks with Chicago Congressman Mike Rogers about a proper troop draw-down in Afghanistan and focusing on Pakistan; Later, Bob Scheiffer comments on America’s failing education system.
Duration : 0:24:5
PBS Frontline Secret History of the Credit Card
In “Secret History of the Credit Card,” FRONTLINE® and The New York Times join forces to investigate an industry few Americans fully understand. In this one-hour report, correspondent Lowell Bergman uncovers the techniques used by the industry to earn record profits and get consumers to take on more debt.
“The almost magical convenience of plastic money is critical to our famously compulsive consumer economy,” Bergman says. “With more than 641 million credit cards in circulation and accounting for an estimated $1.5 trillion of consumer spending, the U.S. economy has clearly gone plastic.”
Millions of American families use their personal, general-purpose credit cards such as Visa, Mastercard, American Express and Discover to make ends meet; credit cards have been a discreet lifeline for families in financial straits.
But other consumers, like actor and author Ben Stein, use plastic purely for convenience. While it would appear that Stein — who says he charges a small fortune every month on his credit cards — is the ideal customer, in reality, he is what some in the industry call a “deadbeat.” That’s because he pays his balance in full every month.
The industry’s most profitable customers, the ones being sought by creative marketing tactics, are the “revolvers:” the estimated 115 million Americans who carry monthly credit card debt.
Ed Yingling, incoming president of the American Bankers Association, tells FRONTLINE that revolvers are “the sweet spot” of the banking industry. This “sweet spot” continues to grow as the average credit card debt among American households has more than doubled over the past decade. Today, the average family owes roughly $8,000 on their credit cards. This debt has helped generate record profits for the credit card industry — last year, more than $30 billion before taxes.
Some experts say the profitability of credit cards really began twenty-five years ago, when the banking industry successfully eliminated a critical restriction: the limit on the interest rate a lender can charge a borrower. Deregulation, coupled with a revolution in technology that enables the almost real-time tracking of personal financial information and the emergence of nationwide banking, has facilitated the widening availability of credit cards across the economic spectrum. But for some, the cost of credit is often far greater than it appears.
According to Harvard Law Professor Elizabeth Warren, the credit card companies are misleading consumers and making up their own rules. “These guys have figured out the best way to compete is to put a smiley face in your commercials, a low introductory rate, and hire a team of MBAs to lay traps in the fine print,” Warren tells FRONTLINE.
Warren and other critics say that a growing share of the industry’s revenues come from what they call deceptive tactics, such as “default” terms spelled out in the fine print of cardholder agreements — the terms and conditions of which can be changed at any time for any reason with 15 days’ notice.
Penalty fees and rates are sometimes triggered by just a single lapse — a payment that arrives a couple of days or even hours late, a charge that exceeds the credit line by a few dollars, or a loan from another creditor which renders the cardholder “overextended” as defined by the nation’s three all-powerful credit bureaus. This flurry of unexpected fees and rate hikes come just when consumers can least afford them.
“[Banks are] raising interest rates, adding new fees, making the due date for your payment a holiday or a Sunday on the hopes that maybe you’ll trip up and get a payment in late,” says Robert McKinley, founder and chairman of Cardweb.com and Ram Research, a payment card research firm. “It’s become a very anti-consumer marketplace.”
Banking Association spokesman Yingling defends industry practices. Because the credit card business is basically unsecured lending, he says, the risks associated with the business must be offset.
But that’s of little consolation to consumers who may be in trouble. According to the Better Business Bureau, credit card and banking companies are the subject of a record numbers of complaints. “It’s not an accident that the banking and credit card business generates more complaints nationally, across the country, than any other industry…Out of one thousand industries that we track, they are number one,” says Pat Wallace, head of the San Francisco Bay Area Better Business Bureau. “There are irritated, unhappy, dissatisfied customers in this industry.”
As Professor Warren sees it, the industry is operating without fear of penalty. “There’s no regulator, and there’s no customer who can bring this industry to heel,” Warren says.
Duration : 0:56:9
Dennis Prager, Adam Carolla interview
http://dennisprager.com —- http://pragertopia.com Dennis Prager Adam Carolla interview: Dennis talks to Adam Carolla, host of the most popular daily podcast on the Internet. His new book, now in paperback is, In Fifty Years We’ll All Be Chicks: . . . And Other Complaints from an Angry Middle-Aged White Guy. http://www.adamcarolla.com
Adam Carolla, host of the most popular daily podcast on the Internet. His new book, now in paperback is, In Fifty Years We’ll All Be Chicks: . . . And Other Complaints from an Angry Middle-Aged White Guy
http://www.amazon.com/Fifty-Years-Well-All-Chicks/dp/0307717380/ref=sr_1_1?ie=UTF8&qid=1306435284&sr=8-1
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Duration : 0:24:37
Federal Credit Debt Assistance – What Can The Government Offer You?
Have you been experiencing a financial crisis that is affecting your credit card debt payments? Have you missed paying one or more of your credit card bills? If you are, then most probably you think that your problem is unsolvable. Cheer up! Obama’s new administration is offering more help than ever to save thousands of Americans who are drowning in credit card debt. Federal credit debt assistance is offering more solutions to struggling Americans who are in debt of billions of dollars to credit card companies. Many federal agencies are offering free advice to credit card debtors. Those agencies enlighten borrowers of possible solutions to their credit debt problems. The National Foundation for Credit Card Counseling (NFCC) and Association of Independent Consumer Credit Counseling Agencies (AICCCA) present debtors with valuable resources which are indispensable for those seeking modification of their debts. Those agencies also enlist the accredited credit counseling agencies that could help creditors consolidate their debts. What should I do to get federal assistance on my card debt? First of all, you must prepare the required documents; these include your social security number, a copy of your monthly paycheck and copies of your card bills. The application form could be filled out and filed online. It is better to apply through a government approved web service as some internet sites could charge you for a service that is already freely offered by the federal government. You will be contacted in about 2 weeks after sending your application to know whether or not you’ve qualified for receiving credit card debt assistance. The federal program can help you consolidate you credit debt. In other words, federal agencies can help you get another one or more loans that would help you pay off your credit debt. The consolidation loans are usually at lower interest rates than those of the original credit debt. Owning assets can help you get consolidation loans more easily. Assets will be considered as collaterals that, upon foreclosure, would secure a payback for the lender. Nonetheless, in certain conditions federal agencies can offer debtors unsecured consolidation loans. Moreover, certain eligible debtors can now get their credit debts paid off with the aid of federal grants. Recent reports have proved that Americans are in debt of billions of dollars to credit card companies. Federal credit debt assistance is creating more solutions to help American debtors get off the ground.
Duration : 0:2:29
Ryan: Debt crisis lies within spending, not taxes
Bob Schieffer spoke with Rep. Paul Ryan (R-Wis.), chairman of the budget committee, on raising the debt ceiling, spending cuts, and tax reform.
Duration : 0:12:26