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31 Oct 2011 10:23

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Politics: Top House official: White House to be subpoenaed on Solyndra crisis

  • This is an investment of taxpayers’ money that’s gone bad. After eight months of investigations we have a right … to say, ‘what about the internal communications inside the top advisers to the White House? Let’s see them.’
  • Rep. Cliff Stearns, chairman of the Energy and Commerce Subcommittee on Oversight • Discussing his plans to subpoena the White House regarding Solyndra, the energy company that the government loaned hundreds of millions of dollars to in 2010, only to see the company go belly up just over a year later. Reports seem to suggest that Obama staffers had close ties to the company, leading to the current situation. “It appears to us, disturbingly, that there is a close relationship between the investors — the people who were wealthy donors to the Obama campaign — and the people that were involved with Solyndra,” Stearns said. “That disturbs us all and we’d like to see the communications to make sure that is not true.” source

08 Oct 2011 10:20

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U.S.: Leaked e-mails: White House staffer was heavy Solyndra cheerleader

  • who Former White House official Steven Spinner, an Obama fundraiser and Silicon Valley investor who advised the Energy Department on alternative energy loan programs.
  • what E-mails showed that Spinner heavily pushed the Solyndra loans, despite the fact that he was supposed to be recused from the case. The company later failed.
  • why His wife’s law firm represented the company, and while she didn’t closely work on the company’s case, the firm benefited from the government loan. source

13 Nov 2010 12:42

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World: Haitian microloan firms struggle, but committed to helping poor

  • Haiti has not had a good year. Many people are struggling to get by and need help to survive. For this reason, microloans have become very popular among small-scale entrepreneurs looking to get by, but even they are having trouble in the wake of absolute destruction of much of the country:
  • 30% the lowest interest rate one will likely find on a microloan from Haiti, which is very reliant on them in the wake of the earthquake
  • 53% the percentage of one lender’s microloans in Haiti that were late after the qake – a staggeringly high number that makes it hard for lenders
  • 18% of microloans have defaulted or risk doing so in Haiti this year; in most third-world countries, it’s more like 2-3 percent source
  • » However, they’re still fighting: These firms seen to understand how important their services are to Hatians, so they’ve used various methods to raise funds to offer the high-risk loans. While they’re a ways off from, say, India’s broad microlending program, they are expanding their work so that they can offer a wider variety of services to the people that need it most.

13 Jul 2010 11:54

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Biz: Credit scores: FICO says some doing worse, others doing better

  • 25.5% of all consumers have credit scores below 600 – far higher than usual (blame unemployment)
  • 17.9% of all consumers have credit cards above 800 – also higher than usual (impressive) source
  • » Why this matters: Low scores tend to stick around a long time, as much as seven to ten years, making it hard to recover from bad decisions or worse luck. But it appears that those who stayed afloat during the recession learned an important lesson – paying down debt and spending less is better than having a low credit score.

28 May 2010 18:47

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U.S.: Obama on oil spill: It’s not going to be easy, but I have smart people

  • There are going to be a lot of judgment calls here. There are not going to be silver bullets or perfect answers.
  • Barack Obama • Speaking about the oil spill in Louisiana today. What are his plans? A few things. First off, check this site for the latest info on the response to the spill, which combines everything from all the involved parties. Second, he’s tripling the size of the response crews in Louisiana. Third, he’s keeping pressure on BP to pay for damages caused by the spill. Fourth, he’s going to help small business with loans needed due to the spill along with loan deferments for those they needed during Katrina. Finally, and most importantly, he’s approving a barrier island that will help prevent some of the oil from reaching shore. Will it help? Fingers crossed. source

11 Apr 2010 20:30

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World: The EU throws Greece a few bones so they can pay next month’s rent

  • 45 billion in loans; that’s $61 billion for Amer’kans source

16 Feb 2010 12:54

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U.S.: Obama loans lots of money to a couple of nuclear reactors

  • $8.3 billion goes to two reactors in Burke County, Georgia source
 

11 Dec 2009 01:35

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U.S.: Pennsylvania screwed over thousands thanks to a budget holdout

  • 101 the number of days Pennsylvania’s budget was delayed
  • 16,000 workers had to get loans due to the budget delay source

09 Dec 2009 09:58

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Biz, U.S.: The phrase “TARP” isn’t leaving our lives anytime soon

  • TARP is going nowhere, guys. Treasury secretary Timothy Geithner informed Congress this morning that the program, set to expire at the end of the year, will be extended until at least October. Which means that the bailouts won’t be going anywhere anytime soon, as a way to extend small-business credit. source

20 Jul 2009 10:42

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Biz: Sketchy subprime mortgagers try to screw already-screwed people

  • pre-burst Companies offer subprime mortgages that allow tons of people to get homes that they can’t afford. The companies make out like bandits, but when the housing bubble bursts, those homeowners are screwed. This is pretty evil.
  • post-burst Not afraid to kick already-lowered people or stick the knife further into their backs, the people behind the subprime mortgage companies start new loan-fixing companies, then fail to follow through on promised loan fixes. This is beyond evil. source