Payday Pundit

Some advice from the Newark Star Ledger.

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As the New York Times reports, credit card balances are being slashed:
Mr. McClelland’s credit card company was calling yet again, wondering when it could expect the next installment on his delinquent account. He proposed paying half of his $5,486 balance and calling the matter even.
It’s a deal, the account representative immediately said, not even bothering [...]

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Krispy Kreme, Sbarro among other food chains could be victims of the recession according to this article.

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According to Walletpop, identify thieves target consumers with high credit  scores.

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Robert Kuttner at the American Prospect poses some important questions about regulation of financial services, an issue we touched on in an earlier post. Here’s one key question from the story:
Should there be a Financial Product Safety Commission?
Elizabeth Warren, the Harvard law professor who also chairs the congressional oversight panel on the banking bailout program, [...]

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It’’s been raining for three days, “Kung Fu” star David Carradine died yesterday, and now this:
Credit card defaults up.
Unemployment rose to 9.4%.

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This San Fran Chronicle story says:
Microfinance lenders like Opportunity Fund provide small loans along with business coaching to low-income entrepreneurs. With a median loan size of $5,000, the San Jose nonprofit claims to create or retain two jobs per business on average.
The average payday loan is $325.  Now that’s microlending!

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Eight companies we used to love that have gone under during the recession.

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I thought they were the present.  Ezra Klein, who normally blogs and writes about politics and policy, has discovered debit cards.  From his Washington Post column:
Credit, with all its benefits and dangers, and convenience. But with debit cards, you can now have the convenience of plastic without the temptations of credit. I, for instance, use [...]

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Santa Monica’s last pawnbroker has found a new homes.  From the story:
More than a month after loosening zoning restrictions to help a pawn shop find a new home, the City Council is now set to become the business’ new landlord.
The council tonight is expected to enter a lease agreement with Angelo’s Pawn Shop for [...]

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