Stale Green Light

We’re seeing new components of President Obama’s economy rescue plan put into place daily. One of these, a stress test on the Nation’s largest 19 banks, was recently conducted. The results were supposed to be published today but for whatever reason will now be fully disclosed this Thursday afternoon. Officials conducting the test have given some sneak peeks at the results but are waiting until Thursday for the full disclosure. 

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Senator Dick Durbin is attempting to limit the credit options of millions of Americans. I for one am outraged, and you should be too. The proposed “Protecting Consumers from Unreasonable Credit Rates Act” will put a federal interest rate cap on all loans at 36% APR. What does this mean to you and me? Well, nothing, unless you have ever needed short-term credit like a cash advance.

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Just how will your taxes be affected by Obama’s new tax plan? It varies widely by marital status and income, but let’s look at how most of us would be affected.

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