FDIC and Federal Reserve form Cyprus type plan for U.S. bank account holders In the aftermath of the great Cyprus bank confiscation, the FDIC, along with the Federal Reserve and Bank of England, are formulating plans to allow for the confiscation and redistribution of unsecured bank deposits, should the need arise in the banking system. Known in accounting terms as a bail-in, both customer money, and shareholder accounts would be used instead of taxpayer funded bailouts to ensure a bank’s solvency.
Stagnant consumer spending drives auto dealers to offer 97 month car loans In just the first three months of 2013, a new subprime bubble is being created in the automobile industry as dealerships begin offering 97 month car loans to credit risk consumers. In a move to try to appeal to a consumer base still dealing with low credit score brought on from foreclosures, unemployment, and maxed out credit cards, credit agency Experian reported on April 8 that car retailers have increased auto loan duration’s to just short of nine years.
As a historian in his primary field of study, and an investor in the real world, Kenneth has a keen perspective on all facets of the financial world. He has owned his own business and corporation, and has been an investor in many different markets such as securities, real estate, currency trading, and international trusts. His desire is to provide you with the true understanding of markets and the economy, and to give you the information that will help you make your own decisions in these troubling, and quite often, fascinating times regarding your economic decisions. Kenneth is not a certified financial advisor, and his only goal is to give you true information, by which you can see things as they happen, and in many cases, before they happen.