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Credit

WNYC News

Faulty, Unfair Credit Reports Get a Fix

Monday, March 09, 2015

WNYC
It's been almost impossible to fix false credit reports. Now New York's Attorney General Eric Schneiderman is forcing national credit reporting agencies to change that.

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PRI's The World

The new Argentine debt crisis resurrects painful memories and fears of economic disaster

Thursday, July 31, 2014

Argentina defaulted for the second time in 13 years after last-ditch talks with US hedge funds collapsed. Many Argentines worry that unless a deal is reached, another default could crash the peso and lead to inflation and unemployment.

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The Leonard Lopate Show

Economic Breakdown

Monday, August 20, 2012

Richard Duncan explains how credit creation and consumption created a new economic dynamic and why he thinks the global recession is in danger of becoming another Great Depression. In The New Depression: The Breakdown of the Paper Money Economy he explains the economic calamity now unfolding: its causes, the government's policy response to the crisis, and what is likely to happen next.

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The Leonard Lopate Show

Please Explain: Credit Ratings

Friday, May 11, 2012

This week we'll find out about credit reports and credit scores and how to manage them effectively. Jeffrey Blyskal, senior editor of  Consumer Reports, joins us to explain how they work and what they mean. 

If you have a question, call 212-433-9692 or leave a comment below. 

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The Takeaway

The Tendency to Overestimate What Others Will Pay

Thursday, January 12, 2012

The Journal of Consumer Research recently published a study called "Overestimating Others' Willingness to Pay" which outlines the "overvaluing bias": the tendency to overvalue what another person would pay by nearly 40 percent. While this phenomenon is not new to social psychologists, it clearly influenced the years of easy credit and has more broadly moved Americans away from cash to credit cards.

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The Takeaway

Higher Taxes? Class Warfare? It's All 'Meaningless Noise'

Tuesday, September 20, 2011

Open a newspaper, go on the internet, or turn on the TV, and you're likely to hear a diagnosis of what will cure the ailing economy. Revising the tax code, reducing the deficit, super committees — all distractions, according to New York Times op-ed columnist Joe Nocera. He calls the political back-and-forth in Washington "meaningless noise." The real problem, Nocera says, is a lack of available credit.

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The Brian Lehrer Show

DEBT: The First 5,000 Years

Tuesday, July 19, 2011

Anthropologist David Graeber, reader in social anthropology at Goldsmiths College, University of London, talks about his new  book, DEBT: The First 5,000 Years, and proposes a radical debt forgiveness scheme

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The Takeaway

S&P Economist Explains Downgrade of US Rating

Tuesday, April 19, 2011

Standard & Poor's announced Monday that they have downgraded the United States' credit outlook from “stable” to “negative” for the first time since they began issuing those ratings in 1989. The new rating has been interpreted by many as a direct warning to the U.S. government to come up with an agreement on the debt ceiling and the federal budget — as quickly as possible. David Wyss, Chief economist at Standard & Poor’s, New York, and Louise Story, Wall Street and finance reporter for our partner The New York Times, explain what the rating really means, and what the U.S. can do about it.

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It's A Free Country ®

Lessons from the Crisis: Ask the Chairman

Thursday, February 24, 2011

WNYC
I will tell you this, if unemployment stays high, if for the foreclosure trend in this country stays steady, it will be a consistent drag and of course these all have ripple effects… all these are continuing threats both to the economy and the financial system. I don’t think we’re out of the woods by any means at this point in time.

Financial Crisis Inquiry Commission Chairman Phil Angelides on the Brian Lehrer Show.

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The Takeaway

AIG Rejects Prudential Sale

Tuesday, June 01, 2010

A.I.G.'s board has rejected a plan to sell its Asian life insurance arm to Prudential, which would have provided the U.S. government with its first major bailout repayment. The New York Times finance reporter, Louise Story, explains why A.I.G.'s shareholders are holding out and what this means for the taxpayer.

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The Takeaway

Do It Yourself Bailout: Demystifying Your Credit Score

Wednesday, April 07, 2010

Each week in our "Do-It-Yourself Bailout" series, we talk about how we can all get into better financial shape and bail ourselves out of debt. This week: credit scores.

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The Takeaway

Takeouts: Employer Credit Checks and the NFL Scouting Combine

Wednesday, March 03, 2010

  • MONEY TAKEOUT: Lawmakers are taking to action to try and ban employers from running credit checks on potential employees. Louise Story, finance reporter for The New York Times tells us more.
  • SPORTS TAKEOUT: The NFL's Scouting Combine ended Tuesday. Ibrahim Abdul-Matin, Takeaway sports contributor, talks about who he thinks shined in the annual event.

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The Takeaway

Credit Crunch Leaves Small Businesses Wanting

Monday, December 07, 2009

At last week's White House Jobs Summit, small business owners from across the country pressed President Obama on dozens of issues related to the economic downturn. Credit, though, was a central issue: The credit crunch has prevented thousands of businesses from obtaining loans to expand, shift gears, or even just fund day-to-day operations. Today, Maryland governor Martin O'Malley will unveil a strategy intended to help small business owners get credit. One such business owner, Dawn P. Jackson, is the owner of NuDawn Marketing Group in Maryland and president of Women Business Owners of Prince George's Country. Dawn hoped to expand her small marketing business, but she has been discouraged from applying for credit after several banks told her that she was unlikely to get any. Maryland's Secretary of Commerce, Christian Johannson, joins us with a preview of what the governor's plan entails.

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The Takeaway

Takeouts: Health in the House, 'Free' Credit Reporting, Saints

Tuesday, November 03, 2009

  • Congress Takeout: Todd Zwillich talks about how House Democrats are hoping to vote on their version of a health care reform bill later this week, while Republicans launch a media campaign opposing it.
  • Money Takeout: Credit reporting agencies are required by law to provide you a free report every year … but that hasn't stopped them from writing insanely catchy jingles to draw customers towards paid options. Louise Story, finance reporter for our partners The New York Times, joins us to discuss when "free" actually means "expensive," and what the FTC is trying to do about it.
  • Sports Takeout: Ibrahim Abdul-Matin recaps Monday Night Football, as the Atlanta Falcons faced the resurgent New Orleans Saints.

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The Takeaway

What to Do About Bank Fee Hikes

Tuesday, August 11, 2009

U.S. banks stand to collect $38.5 billion from increasingly strict overdraft fees this year, and credit card users are seeing their cards' interest rates rocket higher for no apparent reason. As financial institutions try to increase their revenues using fine print and fees, financial guru Gary Belsky talks us through what you can and can't do in response.

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The Takeaway

The Dow Climbs—What's Next?

Monday, July 27, 2009

The last two weeks have seen a steady rally for the stock market, which closed above 9,000 on Friday. This week it'll be tested by the biggest batch of second quarter corporate profit reports yet, including those from Exxon Mobil, Chevron, and Visa. The Takeaway talks to Peter Morici, an economist and Business Professor at the University of Maryland, to figure out how the market fares in the face of those earnings reports.

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The Takeaway

Squeezed for Credit

Thursday, May 07, 2009

Elizabeth Warren, Chairwoman of the Congressional Oversight Panel on TARP and professor at Harvard Law School, continues her conversation with The Takeaway. Before she was monitoring government expenditure, she wrote several books on personal finance including, All Your Worth: The Ultimate Lifetime Money Plan. So before she left we wanted to get her take on personal finance and how the nation's families are affected by tight credit markets.
"At the end of the day, today's two-income family has less money left over after those five basic expenses than the one-income family had a generation ago."
—Congressional oversight panel Chairwoman Elizabeth Warren on the economic state of American families

Click here to hear Elizabeth Warren's discussion of TARP and her role overseeing the multi-trillion dollar fund.

To read an excerpt from Elizabeth Warren's book, All Your Worth: The Ultimate Lifetime Money Plan, click here.

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The Takeaway

The false hope of debt settlers

Monday, April 20, 2009

Desperate to not be deadbeats, hundreds of thousands of consumers are turning to debt settlement agencies to escape crushing piles of bills. Everyone has seen the ads: you call, they help, and eventually you are a debt free. But a report in today's New York Times says many consumers have begun to complain that those companies collect large fees and don't do much to help. Unfortunately, it seems the typical experience according to consumers is that a settlement company collects a large fee, often 15 percent of the total debt, and accomplishes little or nothing on the consumer’s behalf. Needless to say, state attorneys general are being flooded with complaints about settlement companies. The Takeaway talks with New York Times business reporter David Streitfeld for more on the story.
"A lot of the people in the debt settlement industry are former workers in the mortgage industry, who probably sold you the mortgage for your house that cost too much money to begin with."
—New York Times business reporter David Streitfeld on debt consultants

For more, read David Streitfeld's article, Debt Settlers Offer Promises but Little Help

Ads like this one from In Charge Debt Solutions offer consumers hope that they can help resolve disputes with debt colletors:

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On Being

Nathan Dungan — Money and Moral Balance [remix]

Thursday, November 08, 2007

The sales are starting, the stores are open late, and many of us are gearing up to spend more money than we actually have in a holiday season with deep roots in religion. We explore the turmoil many of us experience with money in our day-to-day lives — an

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