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Rutherford Says Illinois Must Kick `Addiction of Debt’
May 26 (Bloomberg) — Illinois Treasurer Dan Rutherford talks about the debt crisis facing his state.
Rutherford speaks on Bloomberg Television’s “InBusiness with Margaret Brennan.” (Source: Bloomberg)
Duration : 0:5:44
Bone Thugs-N-Harmony- First of the Month
wake up wake up wake up its the first of the month get up get up get up
Duration : 0:4:50
Toomey Says U.S. Won’t Default Regardless of Debt Limit
May 19 (Bloomberg) — U.S. Senator Patrick Toomey, a Republican from Pennsylvania, discusses the outlook for the nation’s debt limit and the prospects of default.
Toomey speaks with Peter Cook on Bloomberg Television’s “InsideTrack.” (Source: Bloomberg)
Duration : 0:4:44
PBS Frontline Secret History of the Credit Card
In “Secret History of the Credit Card,” FRONTLINE® and The New York Times join forces to investigate an industry few Americans fully understand. In this one-hour report, correspondent Lowell Bergman uncovers the techniques used by the industry to earn record profits and get consumers to take on more debt.
“The almost magical convenience of plastic money is critical to our famously compulsive consumer economy,” Bergman says. “With more than 641 million credit cards in circulation and accounting for an estimated $1.5 trillion of consumer spending, the U.S. economy has clearly gone plastic.”
Millions of American families use their personal, general-purpose credit cards such as Visa, Mastercard, American Express and Discover to make ends meet; credit cards have been a discreet lifeline for families in financial straits.
But other consumers, like actor and author Ben Stein, use plastic purely for convenience. While it would appear that Stein — who says he charges a small fortune every month on his credit cards — is the ideal customer, in reality, he is what some in the industry call a “deadbeat.” That’s because he pays his balance in full every month.
The industry’s most profitable customers, the ones being sought by creative marketing tactics, are the “revolvers:” the estimated 115 million Americans who carry monthly credit card debt.
Ed Yingling, incoming president of the American Bankers Association, tells FRONTLINE that revolvers are “the sweet spot” of the banking industry. This “sweet spot” continues to grow as the average credit card debt among American households has more than doubled over the past decade. Today, the average family owes roughly $8,000 on their credit cards. This debt has helped generate record profits for the credit card industry — last year, more than $30 billion before taxes.
Some experts say the profitability of credit cards really began twenty-five years ago, when the banking industry successfully eliminated a critical restriction: the limit on the interest rate a lender can charge a borrower. Deregulation, coupled with a revolution in technology that enables the almost real-time tracking of personal financial information and the emergence of nationwide banking, has facilitated the widening availability of credit cards across the economic spectrum. But for some, the cost of credit is often far greater than it appears.
According to Harvard Law Professor Elizabeth Warren, the credit card companies are misleading consumers and making up their own rules. “These guys have figured out the best way to compete is to put a smiley face in your commercials, a low introductory rate, and hire a team of MBAs to lay traps in the fine print,” Warren tells FRONTLINE.
Warren and other critics say that a growing share of the industry’s revenues come from what they call deceptive tactics, such as “default” terms spelled out in the fine print of cardholder agreements — the terms and conditions of which can be changed at any time for any reason with 15 days’ notice.
Penalty fees and rates are sometimes triggered by just a single lapse — a payment that arrives a couple of days or even hours late, a charge that exceeds the credit line by a few dollars, or a loan from another creditor which renders the cardholder “overextended” as defined by the nation’s three all-powerful credit bureaus. This flurry of unexpected fees and rate hikes come just when consumers can least afford them.
“[Banks are] raising interest rates, adding new fees, making the due date for your payment a holiday or a Sunday on the hopes that maybe you’ll trip up and get a payment in late,” says Robert McKinley, founder and chairman of Cardweb.com and Ram Research, a payment card research firm. “It’s become a very anti-consumer marketplace.”
Banking Association spokesman Yingling defends industry practices. Because the credit card business is basically unsecured lending, he says, the risks associated with the business must be offset.
But that’s of little consolation to consumers who may be in trouble. According to the Better Business Bureau, credit card and banking companies are the subject of a record numbers of complaints. “It’s not an accident that the banking and credit card business generates more complaints nationally, across the country, than any other industry…Out of one thousand industries that we track, they are number one,” says Pat Wallace, head of the San Francisco Bay Area Better Business Bureau. “There are irritated, unhappy, dissatisfied customers in this industry.”
As Professor Warren sees it, the industry is operating without fear of penalty. “There’s no regulator, and there’s no customer who can bring this industry to heel,” Warren says.
Duration : 0:56:9
Carr Says Cloud Platform `Preferred Target’ of Hackers
April 27 (Bloomberg) — Jeffrey Carr, author of “Inside Cyber Warfare: Mapping the Cyber Underworld,” talks about a possible security breach at Sony Corp.
Sony warned its 77 million PlayStation Network and Qriocity online service customers that their credit-card data, billing addresses and other personal information may have been stolen by a hacker. (Source: Bloomberg)
Duration : 0:4:14
O’Neill Calls Foes of Raising Debt Ceiling `Terrorists’
April 27 (Bloomberg) — Former U.S. Treasury Secretary Paul O’Neill talks about the performance of Treasury Secretary Timothy Geithner and the outlook for congressional action on raising the federal debt ceiling.
O’Neill speaks with Margaret Brennan on Bloomberg Television’s “InBusiness.” (This is an excerpt of the full interview. Source: Bloomberg)
Duration : 0:2:28
SOUR ‘日々の音色 (Hibi no neiro)’
This music video was shot for Sour’s ‘Hibi no Neiro’ (Tone of everyday) from their first mini album ‘Water Flavor EP’. The cast were selected from the actual Sour fan base, from many countries around the world. Each person and scene was filmed purely via webcam.
Director: Masashi Kawamura + Hal Kirkland + Magico Nakamura + Masayoshi Nakamura
SOUR official site: http://sour-web.com
2009 Zealot Co.,ltd / Neutral Nine Records
LYRICS ———————————————————-
Your heart that gently reflects in the puddle
is your tone, as you pass through the maze of everyday
Footsteps of spring
the city starts adding color
The melody flowsLE LU LA LI
Through the colored lenses
ReggaeDubHiphopTechnoLatin
Between the waves of all the different values
JazzRockPops Category no more
Whats the most important thing?
Spinning and turning on the overpass
as we overtake that season
this and that, which color is your melody?
Sometimes you could get confused
ReggaeDubHiphopTechnoLatin
Between the waves of all different values
JazzRockPops Category no more
What are you thinking of now?
If we can embrace all the differences
It will shine the sky in rainbow colors
Your heart that gently reflects in the puddle
is your tone, as you pass through the maze of everyday
You can see it in any color, because of your clear feeling
Dont worry about it, lets just go as we are.
If we can embrace all the differences
The rain will stop, and the sky will shines in rainbow colors
Your heart that gently reflects in the puddle
is your tone, as you pass through the maze of everyday
You can see it in any color, because of your clear feeling
Let your tone shine like the rainbow
Pass through the maze of everyday
And start playing your tone
———————————————————————
SOUR “日々の音色” のためのミュージックビデオ。（ミニアルバム “Water Flavor EP” 収録曲）このビデオを作り上げるために、世界中のSOURファンに協力を募りました。ビデオで使われている映像は全て、ラップトップのwebcamによって撮影しています。
Director: Masashi Kawamura + Hal Kirkland + Magico Nakamura + Masayoshi Nakamura
LYRICS ———————————————————-
そっと 水たまり鏡に写る心は 日々の迷路抜けた君の音色
春の足音にわか色付く街並み
流れる「レルラリ」メロディー色眼鏡越し
ReggaeDubHiphopTechnoRatin氾濫する価値の波間に
JazzRockPops Category no more大切なものは 何？
まわりまわる高架追い越した季節に
あれやこれ 何色のメロディー？ とまどう時も
ReggaeDubHiphopTechnoRatin氾濫する価値の波間に
JazzRockPops Category no moreいま何を思うの？
全ての違いを受け入れたら 虹色に輝く空を射す
水たまり鏡に写る心は 日々の迷路抜けた 君の音色
何色にも見えるのは澄んだ気持ちのせいだ
気にすることなんかないよこのままゆこう
全ての違いを受け入れたら 虹色に輝く雨上がりの空
きっと 水たまり鏡に写る心は 日々の迷路抜けた君の音色
何色にも見えるのは澄んだ気持ちのせいだ 虹色に輝いて 君の音色
日々の迷路抜けて 奏でる君の音色
———————————————————————
SOUR official site: http://sour-web.com
2009 Zealot Co.,ltd / Neutral Nine Records
Duration : 0:3:51
Michael Tennenbaum Says U.S. Faces `Wall of Debt’
Feb. 16 (Bloomberg) — Michael Tennenbaum, founder of Tennenbaum Capital Partners LLC, discusses Federal Reserve policy and the outlook for the U.S. economy and the distressed debt market.
Tennenbaum speaks with Deirdre Bolton on Bloomberg Television’s “InsideTrack.” (Source: Bloomberg)
Duration : 0:6:35
1. GOLD & SILVER INVESTING MOVIE! (Part 1) Mike Maloney – ‘Why Gold & Silver?’
GET THE FULL MOVIE HERE: http://goldsilver.com/why-gold-silver-the-movie/ref/1052/dc/sgpromo/
Welcome to the first episode in our 10 part series!
We have been collectively hoodwinked into believing that our paper currencies are ’as good as gold’. Nothing could be further from the truth. Originally, our paper currency was a receipt for gold or silver held on deposit. But since 1971, all world currencies have been fiat -backed by nothing of physical value. Take a $10 bill from your wallet. Do you really think that the paper is worth $10? Welcome to the Matrix…
Buy the whole video, online version only $9.95: https://whygoldandsilverdvd.com/start/youtube?affid=7&s-site=youtube&s-page=gse1
If you like the title music (the NZ Dub part) please check out the site of the most amazing Aaron Saxon – http://www.aaronsaxon.com Music for liberating your mind. Thanks for believing in me bro. Dan.
You can also keep up with our latest filming efforts on the official Facebook page for ‘Why Gold & Silver’, get the latest developments and see behind the scenes photos here: http://www.facebook.com/pages/Why-Gold-and-Silver-The-Movie/129698967041133?ref=sgm
Please click the ‘Like’ button and help us spread the hard money message on Facebook!
Duration : 0:9:16
Large Debt Forces Archdiocese To Close High School
The Archdiocese of Omaha announced it is closing St. Peter Claver Cristo Rey High School at the end of the academic year for financial reasons.
Duration : 0:2:16
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