Saturday, February 27, 2010

“Congressman Charlie Rangel blames staff for personal finance crisis - New York Daily News” plus 3 more

“Congressman Charlie Rangel blames staff for personal finance crisis - New York Daily News” plus 3 more


Congressman Charlie Rangel blames staff for personal finance crisis - New York Daily News

Posted: 27 Feb 2010 08:22 AM PST

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Saturday, February 27th 2010, 4:00 AM

WASHINGTON - Charlie Rangel has become the latest member of the "Who, me?" chorus, blaming aides, staff and anybody but themselves for a crisis.

As the Harlem legend's tangled personal finances have come under scrutiny by the media and a House ethics panel, the 20-term congressman has taken personal responsibility for ethical lapses - but also suggested he was misinformed by others.

"Common sense dictates that members of Congress should not be held responsible for what could be the wrongdoing or errors of staff," Rangel said Thursday after queried about reports the House ethics committee had admonished him for taking a corporate-sponsored trip to the Caribbean in 2008.

In 2008, Rangel explained his failure to include income from his Dominican Republic beachfront villa on disclosure forms this way:

"While over the years I delegated to my staff the completion of my annual House financial disclosure statements, I had the ultimate responsibility."

He also suggested he wasn't in the loop because his wife, Alma, handles the family finances.

"You're the name on the ballot," a veteran Republican political consultant noted. "You may as well step up and take the hit, since you're responsible in the end."

tdefrank@nydailynews.com

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This week's top Personal Finance stories - Marketwatch

Posted: 27 Feb 2010 04:54 AM PST

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Alert Email Print

By MarketWatch

In case you missed them, here are the top 10 Personal Finance stories from MarketWatch for the week of Feb. 22-26:

The top 10 places to retire

Where do you want to live in retirement? Most folks age in place. But there are those who spend their golden years in dreamy locales. Where are those places?
See Robert Powell.

Strategies for retirement saving

Putting away the money from the first or second hour of wages earned can be one way to systemize savings, according to Nathan Dungan of Share Save Spend, who also says that communication is critical to reaching financial goals. Jonathan Burton reports.
Watch Video Report.

Credit card offers abound, but terms have changed

For the first time in three years, credit-card issuers are ramping up their mailbox solicitations, but don't expect to see your father's credit-card appeals. Variable interest rates, higher annual fees and a host of new charges will be hidden in the fine print of these offers.
See Consumer Watch.

Tough choices in a plummeting housing market

I have always been and still am a financially responsible and socially conscious taxpayer with a good credit score who lived in Michigan for years. I purchased this property in 2006 as my primary residence in Troy for $330,000. I had to move to Arkansas for work in late 2008. I have tried to refinance, rent and sell my Michigan house for months but I have not been successful because of the extremely depressed real-estate market. Where did I go wrong?
See Realty Q&A.

11.3 million homeowners underwater on mortgage

More than 11.3 million homeowners -- nearly one-fourth of all Americans with a mortgage -- owe more on their loan than their home is now worth, according to a report released Tuesday by FirstAmerican CoreLogic.
See Real Estate.

The top tax breaks you can get without itemizing

By 2020, the U.S. Department of Health and Human Services projects a 1 million shortfall of full-time equivalent nurses. To fill the need, Hayley quit her job last year to go back to nursing school at her local hospital. But when you read IRS's rules for deducting education expenses, it turns out her hospital is not among the "eligible educational institutions" because it is not signed up with the government to receive federal funding. Can't she get any tax benefits?
See Tax Watch.

Don't give up on tech stocks just yet

Judging from the round of fourth-quarter 2009 earnings reports, this is a good time for leading technology companies. It just isn't a good time to be a tech-stock investor.
See Weekend Investor.

Bond ETF buyers, beware

Investors seeking safety have been pouring cash into bond funds -- but when it comes to exchange-traded funds they run the risk of limiting gains or magnifying losses.
See Fund Watch.

Coverage for treating kids' obesity gets more comprehensive

Parents of overweight and obese children face a heavy burden in navigating a complex health-care system that does little to help them change their kids' course. But a growing number of employers and health insurers are trying to make it easier to get such help.
See Vital Signs.

Few used-car bargains in wake of Toyota recalls

Toyota cars, long known for their quality and reliability, are just about holding their own in resale value despite the massive recall of vehicles for sudden-acceleration problems and other issues.
See Cars.

See the week's Top 10 news and analysis stories.

See the week's Top 10 videos on MarketWatch.

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To Save or Not to Save Money? Practical Guide to Personal Finance - Associated Content

Posted: 27 Feb 2010 05:15 AM PST

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To save or not to save money? We are always confronted with the same question of whether we can save money or not while trying to make both ends meet. It is best that we have the skills on  financial management to be able to save money, and not to be trapped into debt. Here are practical ways on personal finance :

Planning and Educating Self about Personal Finance. Make the best out of the income at hand. We might be enjoying too much of spending without thinking over our financial status, for all we know we are already drown into debt. Take time to sit down, evaluate cash flow summary and jot down concrete plans on how to stretch the income. It is not always that we are healthy or we have regular jobs to sustain our needs and when a financial crisis will strike upon us.

Increase the Income. If the income is not sufficient for the needs, start finding ways to increase it. Every family have different financial situations, it should be discussed both by husband and wife on how to augment the need of the family. Know your priorities, is two-income earner workable or one should sacrifice taking care of the family. If one should stay in the house, home based freelance jobs either traditional or online jobs can help increase the income without sacrificing time for household management.

Reasonable Spending Habits. Identify "what you need" and "what you want". It is always like a tug-of-war between these two, but "what you need" should come out as a winner and only let "what you want" if you have already set aside extra funds for it. Failure to do so becomes an impulse buying habit.

- Know what are income generating expenses from lifestyle expenses. Income generating expenses or the basic needs such as utilities, transportation, food,gasoline while lifestyle expenses such as mobile usage, clothing, recreational expenses which can be adjusted or cut off as need arises. In some cases, there can be exceptions for mobile usage if it is use for income-related activities such as in sales while Internet expenses for freelance online jobs.

Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction.

The week's 10 best Personal Finance stories - Investors Business Daily

Posted: 26 Feb 2010 08:54 PM PST

Message from fivefilters.org: If you can, please donate to the full-text RSS service so we can continue developing it.

In case you missed them, here are the top 10 Personal Finance stories from MarketWatch for the week of Feb. 22-26:

The top 10 places to retire

Where do you want to live in retirement? Most folks age in place. But there are those who spend their golden years in dreamy locales. Where are those places? See Robert Powell.

Strategies for retirement saving

Putting away the money from the first or second hour of wages earned can be one way to systemize savings, according to Nathan Dungan of Share Save Spend, who also says that communication is critical to reaching financial goals. Jonathan Burton reports. Watch Video Report.

Credit card offers abound, but terms have changed

For the first time in three years, credit-card issuers are ramping up their mailbox solicitations, but don't expect to see your father's credit-card appeals. Variable interest rates, higher annual fees and a host of new charges will be hidden in the fine print of these offers.See Consumer Watch.

Tough choices in a plummeting housing market

I have always been and still am a financially responsible and socially conscious taxpayer with a good credit score who lived in Michigan for years. I purchased this property in 2006 as my primary residence in Troy for $330,000. I had to move to Arkansas for work in late 2008. I have tried to refinance, rent and sell my Michigan house for months but I have not been successful because of the extremely depressed real-estate market. Where did I go wrong? See Realty Q&A.

11.3 million homeowners underwater on mortgage

More than 11.3 million homeowners -- nearly one-fourth of all Americans with a mortgage -- owe more on their loan than their home is now worth, according to a report released Tuesday by FirstAmerican CoreLogic. See Real Estate.

The top tax breaks you can get without itemizing

By 2020, the U.S. Department of Health and Human Services projects a 1 million shortfall of full-time equivalent nurses. To fill the need, Hayley quit her job last year to go back to nursing school at her local hospital. But when you read IRS's rules for deducting education expenses, it turns out her hospital is not among the "eligible educational institutions" because it is not signed up with the government to receive federal funding. Can't she get any tax benefits? See Tax Watch.

Don't give up on tech stocks just yet

Judging from the round of fourth-quarter 2009 earnings reports, this is a good time for leading technology companies. It just isn't a good time to be a tech-stock investor.See Weekend Investor.

Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction.

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