It was the winter of our discontent, 2009. A season of bank failures, massive layoffs and $5-a-gallon gasoline. Finally, a fractured country could at least agree on one thing: This had to change. So President Barack Obama set out to deactivate the next bomb awaiting the U.S. economy, the one tic ... More >>
Payday loans--short-term, high-interest cash advances that often target low-income communities--are illegal in New York state. A 1976 law made it a felony to charge borrowers an interest rate above 25 percent. Because payday loans operate on quick lending cycles--usually two weeks--the annual intere ... More >>
Student activists say rising loan rates ARE a distraction from the real problem of unaffordable college degrees
In Rep. Paul Ryan's 'The Path to Prosperity' budget, Medicare, the health insurance program that is loved by older Americans and hated by deficit hawks, will cease to exist some time around 2022. The program - a lasting stipulation of Lyndon B. Johnson's Great Society - will be transformed into a vo ... More >>
It turns out there is insurance coverage for sexual abuse and molestation. This was brought to our attention by last week's Daily News article that claimed that in the wake of so many recent sex abuse scandals, the city is requiring all contractors who come into contact with youth to carry abuse a ... More >>
If you're a student or former student with educational debt, or if you're just someone made anxious by this country's $1-trillion-and-growing student-debt bubble, you may well have breathed a sigh of relief this week when Congress reached an 11th-hour agreement to avoid doubling the interest rate on ... More >>
We're listening to the Brian Lehrer show and reading SCOTUSblog's liveblog as the Supreme Court sits for what will probably be the final time of this term. And...SCOTUSblog is saying that the mandate has survived as a tax, and that Chief Justice John Roberts has joined the left in this ruling. The ... More >>
To save student-loan programs, the White House has saddled master's and Ph.D. candidates with added debt.
Dawn of the debt
City Comptroller John Liu, staying focused on official business and not his ongoing campaign finance controversy, unveiled a new pension plan this morning designed to target what he says is a growing retirement crisis in New York City. Here's the problem, according to Liu, an expected 2013 mayo ... More >>
As the Wall Street Journal hurries to ready Project Amsterdam, Rupert Murdoch's bid to rock the New York Times dead with a big, splashy color metropolitan section before he kicks the bucket, staffers at the Journal are burning the midnight oil. Which sucks, because they just got their new uni ... More >>
Trilateral Commission Alert! David Kellermann, Acting Chief Financial Officer and Senior Vice President of the troubled mortgage lender Freddie Mac, has been found dead in his home. His wife is said to have reported him a suicide. Previously the company's Principal Accounting Officer, the 41-year-ol ... More >>
The stimulus bill President Obama signed into law last month has many ambitious goals, such as putting millions of Americans to work and saving the economy. One thing Obama accomplished immediately, though, was to render swaths of a story (written by me) in the Voice's January 20 Education Supplemen ... More >>
Lehman Brothers maintained its squeaky-clean image by relying on its seamier subsidiary. Just call her Aurora.
In response to the subprime mortgage foreclosure crisis sweeping New York City, the highest court in the State is finding new ways to provide homeowners with legal advice and representation if they are faced with foreclosure. A series of startling court decisions nationwide have ruled against subpr ... More >>
During the spring of 2007, when the subprime mortgage crisis was just beginning to rear its ugly, complicated, deeply entrenched head, the New York Assembly held an all-day hearing in search of a solution. The Assembly listened to testimony from consumer groups, mortgage brokers, members of the bank ... More >>
In 2006, 9,088 homes in New York City were in foreclosure. In the first six months of 2007, 6,743 homes entered foreclosure proceedings. Illustration courtesy of the Center for Responsible Lending By Eileen Markey Thanks for nothing. That's what sub-prime mortgage victims in New York's at-ris ... More >>
From the Associated Press: The nation's first baby boomer applied for Social Security benefits Monday, signaling the start of an expected avalanche of applications from the post World War II war generation. Kathleen Casey-Kirschling, a former teacher from New Jersey, applied for benefits over the ... More >>
You asked the politicians for help with student debt. And maybe, just maybe, you're about to get it.
Columbia reels after stock allegations.
"They hold the handle and we hold the blade," said the man with the soothing Caribbean accent at Creative Credit Counselors, Inc., in Jamaica, Queens. He was talking about the relationship between his nonprofit credit counseling agency, which is supposed to help debtors in arrears, and the banks tha ... More >>
The new House Majority Leader is not quite the 'reformer' he claims
Can't pay your student loan on time? The fat cats at Sallie Mae are so glad to hear it.
An inside look at what Bush has done to your student loan
The NYC subway-bus strike and the slow death of the American pension system
Touting more tax cuts, President ignores bitter situation for most Americans
Student activists trying to take from banks, give to the needy with the National Tuition Endowment
Supreme Court hears appeal of elderly, sick man dunned for student loans
House bill makes largest cuts ever in student aid
Think joining the army will clear your student debt? Better check the fine print.
Student borrowers scramble to beat a deadline for cheap rates
City council wades into the middle of the nation's health care crisis
Big banks do billions in student loansand that means less money for you
Bush's big plan for sticking it to us again
Up to your ear$ in $tudent loan$? That'$ good new$ for the bond trader$
Congress Preys on Local Subprime-Lending Protections
Predatory Loans Have Residents Seeing Red
Mayoral Candidates Huff and Puff on Predatory Lending
Can Hizzoner Solve a Problem He Helped Create?
Gore and Bradley on Health Care: The Differences Are in the Details
The Critical Condition of Health Coverage in the Music Industry
How New Yorks Uninsured Really Survive