Fed to update its consumer finance survey

Now they say that people lost their homes do to job loss instead of saying they bought some thing they could not afford.
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Mon Jul 27: By JEANNINE AVERSA, AP Economics Writer

WASHINGTON – The Federal Reserve is reaching out to Americans to get a more detailed picture of how the country’s economic debacles have affected household finances.

The Fed, which made the announcement on Monday, is taking this step to update data that it had collected when the recession was just hitting, in late 2007.

“It may seem that everything that needs …

Testimony: Sens. Conrad, Dodd told of VIP loans

Just another case of corrupt Government, it must be nice to be in Government, so you can lie, cheat and steal, and say I am above the law, that is probable how he raised his kids.
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7/28/09: By LARRY MARGASAK, Associated Press Writer

WASHINGTON – Two influential Senate committee chairmen were told they were getting special VIP deals when they applied for mortgages, an official who handled their loans told Congress in closed-door testimony. Democratic Sens. Christopher Dodd and Kent Conrad had denied knowing they were getting discounts when they negotiated their loan terms.

Robert Feinberg, who worked in the VIP …