Interesting Personal Debt News Links (April 01, 2009)

April 1, 2009

Calif. — For years, interpreter Yu Ching ended many calls by saying, “Congratulations. You have been approved,” as she helped credit-card companies and mortgage lenders reach a growing share of the Mandarin-speaking market in the U.S.

What’s Riding On The Latest Bailout? CBS Evening News: What The Toxic Assets Plan Means For Banks, Investors, Taxpayers And Homebuyers

Kansas Gov. Kathleen Sebelius, President Obama’s choice to head the Department of Health and Human Services, did not pay $7,040 in income taxes that she and her husband owed between 2005 and 2007, the White House disclosed Tuesday in another tax-related embarrassment for the new administration.

Challenges Home prices have plummeted since the summer of 2007, devaluing many of banks’ holdings that were backed by mortgages. To prevent further losses, banks largely stopped lending. The economic downturn that ensued led the economy to shed 4.4 million jobs in the past 14 months.

In these uncertain times, most people are seeking protection and safety from the prospect of even more economic turbulence. But another group is going bungee-jumping into the middle of the financial crisis — bravely increasing their investments even as the markets and the financial system collapse and gloomy predictions abound.

Banks that have received federal aid are using the money as they see fit, in some cases providing new loans to customers, retiring debt or buying mortgage-backed securities, a chief investigator told Congress on Tuesday.

Can You Buy A Home For $50? CBS Evening News: Raffles Provide Struggling Indebted Homeowners With A Chance To Get A Clean Slate

Alternative investment managers are turning to Washington for some of their best portfolio opportunities.

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