New Orleans According to a recent report from the credit bureau, TransUnion, covered in the Wall Street Journal, student debt is now knocking on the $1 trillion mark with $900 billion now on the books. More than $300 billion of that debt is termed “subprime” student-loan debt, where the likelihood of repayment by once ambitious …
Tag: recession
Chinese Banks, Student Loans, Foreclosures, and Political Impasse
New Orleans Are you kidding me? The Chinese Premier Wen Jiabao called for breaking up the banks because they are making too much money and charging too much interest. It turned out he was actually calling for breaking up banks in China, rather than elsewhere, but how refreshing to have a head of state calling …
Citizen Wealth Takes Recession Beating
New Orleans I knew it was coming, but I had crossed my fingers and hoped that it would not be so devastating. Unfortunately the numbers are in and minorities especially have taken devastating downturns in their citizen wealth or basic assets during the recession pushing previous progress back a generation. According to a recently released …