Fitch Ratings is showing the U.S. some tough love. Read more »
debt ceiling
S&P has made it so enticing to get involved in U.S. debt politics that the other agencies are jumping on the bandwagon. And Washington can’t win: while S&P continues to talk a big game about downgrading the U.S. for not cutting enough spending, Fitch is pinning its ratings outlook to GDP growth, which some economists will tell you is not going to come by cutting government spending in a recession.
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There Will However Be A Celebratory Game Of Bingo With Social Security And Medicare Recipients Down At The VA After Dinner
By Bess LevinPresident Barack Obama will sign into law a bill raising the U.S. government’s debt ceiling and cutting spending as soon as it arrives at his desk, White House communications director Dan Pfeiffer said on Tuesday. The U.S. Senate passed the bill to avert a default earlier on Tuesday and sent it to Obama for signing. Pfeiffer said via Twitter the president would sign the bill as soon as it got to the White House. There will not be a public signing ceremony. [Reuters]
Donald Trump Will Consider Running For Office ‘Again’ If The Economy Doesn’t Improve, He Can’t Execute His Vision For Jones Beach
By Bess Levin
When Donald Trump chose not to run for President, the American people lost a lot. They lost the opportunity to hear the Don tell China, “Listen you motherfuckers, we’re going to tax you at 25 percent.” They lost the opportunity to watch a presidential candidate tell Bill Cosby to blow him. And most of all, the lost the opportunity to behold as bankruptcy specialist Donald Trump used his expertise to lead us out of the economic darkness and into the light. Though he remained silent on the debt talks for far too long, last week Trump finally weighed in on the debate (“The Republicans should tap it along, make it go longer, until the next election so Obama can’t win”) and today on Squawk Box, he continued. Read more »
If You Care About Preserving Our National Credit Rating, You’ll Light Yourself On Fire This Instant
By Matt Levine
Okay, it’s a summer Friday afternoon and it’s hard to concentrate on work, whether you’re thinking about beating the traffic out of town or just nibbling daintily on a tiny burger. But John Carney’s sources in Washington would really appreciate it if you could stay focused for a few more hours and freak the fuck out. Read more »
“Senior Chinese officials are appalled by the impasse among U.S. politicians on raising the nation’s debt ceiling to avoid a default,” said Stephen Roach, non-executive chairman of Morgan Stanley Asia. “Coming so shortly on the heels of the subprime crisis, the debate over the debt ceiling and the budget deficit is the last straw for China.” [Bloomberg]
Another Congressman Using Pop Culture References About Assault And Battery To Make A Point About Going Into a Room And Pushing A Button
By Matt Levine
[Rep. Mike Kelly (R., Pa.)], who attended the University of Notre Dame on a football scholarship, received a raucous response when he exhorted rank-and-file Republicans, Rep. Pete King (R., N.Y.) told reporters after the meeting. “He gave a Knute Rockne-type speech,” Mr. King said while holding up a “Play Like a Champion Today” sign, a nod to the famed sign between the home locker room and tunnel to the field at Notre Dame Stadium that players touch before games. Mr. King said Mr. Kelly closed the pep talk by saying: “Put on your helmet, buckle your chinstrap, and knock the sh– out of ‘em.”
She recommends “suspending investing since all stocks are likely to fall now,” getting liquid, and finding a “safe haven” where you can draw the blinds and lay low until things blow over. Read more »
In case you missed it, some terrible people in a swamp south of here have spent the last few weeks yelling at each other about the debt ceiling. Don’t worry if you haven’t been following this – lots of people on Wall Street apparently haven’t been, either because it just obviously has to get worked out, or because a U.S. default or downgrade is actually not a big deal.
But the days of ignoring the debt ceiling fight appear to be over, since it’s starting to have real-world implications for Wall Street. For starters, it looks like some people are going to lose their deposits on Hamptons chopper charters: Read more »
Congressman Uses Scene From Ben Affleck Movie In Which One Character Asks Another To Beat The Shit Out Of A Guy With A Hockey Stick To Promote Debt Debate Unity
By Bess Levin
House Majority Whip Kevin McCarthy (R-Calif.), the party’s vote counter, began his talk by showing a clip from the movie, “The Town”, trying to forge a sense of unity among the independent-minded caucus. One character asks his friend: “I need your help. I can’t tell you what it is. You can never ask me about it later.” “Whose car are we gonna take,” the character says. [WaPo] Read more »
Been dying for Donald Trump’s take on the debt ceiling talks? Today’s your lucky day! The Don recently set up a camcorder in his office and laid out his fool-proof plan, which he strongly suggests Republicans take to heart. Read more »
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You know what they say: You can’t choose your family, but you can choose your financial planner. Or something like that. One of the great things of being in charge of your money is choosing who (if anyone) will help you manage it. The choice isn’t always an easy one. How will you know that your planner is reputable and trustworthy?
These five red flags may be good indications of whether the financial planner sitting across from you is someone you should trust with your money. LearnVest Planning also provides an innovative 7-step program for your money where you work one-on-one with a financial planner. To see if this program is right for you, start with a free financial consultation.
1. She Isn’t Certified
“There are a lot of good planners out there who aren’t Certified Financial Panners™,” says Samantha Vient, CFP®, of LearnVest Planning Services. “However, CFPs® are required to adhere to the CFP® Board’s standards of professional conduct.We believe it’s always a good idea to work with someone who has the CFP® designation, which is issued after completing a CFP® Board-approved personal financial planning curriculum, passing a rigorous exam issued by the Certified Financial Planner Board of Standards, meeting experience requirements and passing an ethics and background check.
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SoFi Answers the Call to Refinance Student Loans and Provides Unique Community Benefits
This is a guest post written by SoFi’s CEO, Mike Cagney.
CLICK HERE TO READ THE FULL ARTICLE
Recently, there’s been a lot of talk amongst leaders in Washington about how to improve the painful process of repaying student loans. At SoFi, we feel your pain and work hard to offer more flexible, more affordable options for our borrowers. One idea that’s getting a lot of attention is increasing the options for refinancing debt after graduation. The only lender currently focused on refinancing private and federal student loans is SoFi.
We recognized early on that borrowers who have made timely payments on their loans, graduated from school, and have a job should be able to refinance their student loans at a lower interest rate. This may be why, after resuming lending by invitation, the media became increasingly interested in what we are doing.
In a recent article posted on MainStreet.com SoFi General Counsel Rob Lavet had this to say about SoFi’s ReFi products: Read more »
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