Interesting Personal Debt News Links (April 03, 2009)

April 3, 2009

* From a window overlooking the St. Jones (Jim Flood Sr, Dover Post Co)

Everyone with a home mortgage has some interest in how other mortgage payers are doing. If there is one definite area to blame for the current economic crisis in the nation it is the mortgage mess people signed up for home mortgages they could not meet and lenders were only too eager to let them sign and sink into a financial quagmire.

* FASB relaxes accounting rules for banks on assets (Marcy Gordon, Buffalo News)

The board that sets U.S. accounting standards on Thursday gave companies more leeway in valuing assets and reporting losses. The changes should help boost battered banks’ balance sheets and financial stocks rallied on Wall Street, but the rules may undercut a new financial rescue program.

* Fed launches $1.2T effort to revive economy (Jeannine Aversa, Nevada Appeal)

With the country sinking deeper into recession, the Federal Reserve launched a bold $1.2 trillion effort Wednesday to lower rates on mortgages and other consumer debt, spur spending and revive the economy.

* The meaning of ‘living within your means’ (Walter Updegrave, Money)

(Money) — Question: I’ve been having an argument with a co-worker about the difference between living “within your means” and living “below your means.” I’m hoping you can settle the issue for us. What do see as the difference between the two terms? — Mark E., Peoria, Illinois

* Obama Unveils $75 Billion Fix To Help Homeowners (Ted Robbins, NPR)

President Obama on Wednesday unveiled an aggressive plan that aims to help up to 9 million homeowners avoid foreclosure, a major cause of the nation’s financial crisis.

* Inflation-proof your portfolio (Jon Birger, Money)

(Fortune) — With the economy mired in deep recession, inflation isn’t exactly a top-of-mind concern for most investors. After all, it’s hard to see how prices are going to get pushed up when consumers aren’t buying anything. Indeed, for many Wall Street economists, deflation seems to be the more immediate concern.

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