Categories

Elizabeth Warren’s Two-Income Trap

New Orleans With the passage of Dodd-Frank and the advent of the coming Consumer Protection Finance Agency there was a huge hubbub from business and others opposing the appointment of Harvard Law Professor and bankruptcy expert Elizabeth Warren to run the agency.  Supposedly she was opposed by Treasury Secretary Timothy Geithner, the bank bailout [...]

Reich’s Reverse Income Tax

New Orleans     Finishing up my busman’s vacation at home over the last week or more, on a whim it seemed like a no-brainer to walk literally to the next block and finally figure out a way to get better use of my neighborhood library and show some real love to this breed [...]

H&R Block, HSBC, & the end of RALs

New Orleans Refund Anticipation Loans or RALs are a product that have preyed on lower income worker families since their inception and promotion by the big tax preparers, H&R Block, Jackson-Hewitt, and Liberty, as well as smaller fry who could get access to credit.  Negotiating with these companies could get depressing when I worked [...]

Shoestring Philanthropists and Charitable Deductions

New Orleans                       Parade magazine is still an insert feature in my hometown paper.  Last Sunday a copy was shoved my way marking a story about a “shoestring philanthropist.”  I like that term.  I’m a huge sucker for these stories, because while billionaires get the features in  big newspapers and magazines, surveys and real [...]

Debit Charges and Senate Hucksters

Dodd-Frank Bill

New Orleans The Dodd-Frank Financial Reform Act called for the Federal Reserve to put an end to the debit card surcharge padding when that retailers were paying to banks and credit card companies, usually amounting to 44 cents a transaction.  New Fed proposals would cap the amounts at 7 to 14 cents, [...]

Courts Become Gateway to Debtors Prison

New Orleans A harrowing article in the Wall Street Journal documented the success that bottom fishing debt collection agencies are having at ripping the last pennies from working families being crushed in court over relatively small claims.  I wish this were news, but of course the story is all too familiar.

The big debt predator companies [...]