House Votes Down Bailout Bill… For Now

The House of Representative has voted against the $700 billion dollar bailout bill… for now.  207 members voted yea and 226 voted nae.  The bill, however isn’t dead, just yet.  The voting has remained opened, tabled for a time. It’s amazing to see who is for and who is against the bill.  Personally, I never wanted the bill to pass, because I believe in small government, but I know others, who don’t mind government intervention, who oppose the bill for completely different reasons. It’s going to be very interesting to see if a different version of the bill passes. Later today, I’ll check the U.S. Congress Votes Database, over at the Washington Post, to see how my representatives voted.

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Hello Citigroup, Goodbye Wachovia?

In August of 2000, I opened a checking account with SouthTrust bank.  In 2004, SouthTrust was purchased by Wachovia.  Today, as I opened my browser to check my fantasy football scores, I was met with the news that Citigroup is now buying Wachovia. I can’t say that I’m surprised, but I will say that I’m disappointed.  This didn’t have to happen.  Quoting from this story about the acquisition – Wachovia’s problems stem largely from its acquisition of mortgage lender Golden West Financial Corp. in 2006 for roughly $25 billion at the height of the nation’s housing boom. With that purchase, Wachovia inherited a deteriorating $122 billion portfolio of Pick-A-Payment loans, Golden West’s specialty, which let borrowers skip some payments. (Emphasis…

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Debt Reduction Blogs That Inspire

When I started writing about debt reduction, three years ago, there were only a handful of blogs about debt reduction.  Now, there are literally hundreds (thousands?).  It’s exciting to see so many people getting out of debt and sharing their stories! I thought I’d share a few of my favorite debt reduction blogs.  These sites, and the people who author them, inspire me, and I’m sure they’ll inspire you, too. Blogging Away Debt – Tricia’s been blogging about debt for more than two years.  I really dig her posts.  She does a great job of chronically the ups and downs of debt reduction – and life!  I still kick myself for not naming my blog Blogging Away Debt! Blunt Money…

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