In a new deal being reviewed by state governments, the nations five (5) largest mortgage brokers, Bank of America, Wells Fargo, JPMorgan Chase, Citibank, and Ally, would pay out as much as $25 billion. Most of this money would go to reduce the principal that struggling homeowners owe on their mortgages. The total payout is just a drop in the...
GOP Presidential front-runner Mit Romney coming under fire for his experience in the private sector as a venture capitalist. Romney co-founded the investment firm Bain Capital in the late 1980s and staying on with the company for 15 years. Opponents like Rick Perry and others recently compared the companies practices to scavaging. Ed...
After a very Merry Christmas many folks are waking up to bills they can’t pay and growing debt. With credit harder to come by from traditional sources peer-to-peer lending is becoming far more common, but is it a good idea? Ed Butowsky, wealth manager, financial advisor, and managing partner of Chapwood Investment Management, joins Fox...
Investors received an early Christmas present, the DOW ended the week on a high note closing up one hundred and twenty-four points. This represents a five (5) month high as we head into the holiday weekend. So is this just a year end spike or signs of better things to come? While markets yearn for clarity and certainty that does not appear to...
The U.S. unemployment rate hit its lowest point in more than two years, but some economist warn that the unemployment numbers do not tell the whole story. The unemployment rate for November dropped to 8.6%; however, the drop is largely attributed to over 300k people who have stopped looking for jobs this month. Ed Butowsky, wealth manager,...
After stocks posted a seven straight session of losses, ending the worst week in 2 months. Wall street traded a bit higher on Friday’s short trading day in hopes that Black Friday might give retailers a boost, but suddenly the gains were quickly wiped out by more trouble in Europe as Belgium’s debt was downgraded by S&P. Ed...
When will Wall Street distance itself from the Federal Government? Stocks tanked Monday by triple digits, a sign that the super committee super failure took even seasoned investors by surprise. Could Wall Street be looking at this super failure all wrong, could this actually be good for America, as former House Speaker and Republican...
Fox News released a news alert earlier today that Italy’s Prime Minister, Berlusconi, is expected to step down any moment. This news coming after the nations parliament approved reforms designed to save the country from economic meltdown. So how does this situation in Europe impact our economy at home? Ed Butowsky, wealth manager,...
Bank of America has finally given in to some angry critics and has pulled the plug on their $5 monthly fee to use their debit card. That did not stop thousands of fed up consumers this weekend who declared war on these big banks and pulled their money out in protest for Bank Transfer day. Saturday the official Bank Transfer Day found many...
Recently there have been new claims that the quest for solar power is creating a major rift in US China relations. US firms in the industry are making claims that China is crippling this delicate green industry by selling goods below production cost. These major problems may in fact be directly linked to illegal practices in China. Several US...
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