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Archive for the ‘Finance’ Category

This is totally messed up.  The company is totally not liable to whatever the HR person says verbally.  Get it in writing and make sure it matches up with plan rules.  Protect yourself.

Ms. Todisco sued, and in 2007 the First Circuit Court of Appeals upheld a lower courts conclusion that regardless of what the benefits person said, employees had to follow the plan rules.

via When Benefits Bite Back – WSJ.com.

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A really sad story, and really shameful of Deutsche Bank.  Really? Market value for taking away the home for almost 6 years?  So you can illegally sell someone’s property, dumping it in the market, and only owe the “market value” of the property?  It was illegal, the legal system has decided it was illegal.  This is really a poor way to treat our servicemen.

Typically, banks respond quickly to public reports of errors affecting military families. But today, more than six years after the illegal foreclosure, Deutsche Bank Trust Company and its primary co-defendant, a Morgan Stanley subsidiary called Saxon Mortgage Services, are still in court disputing whether Sergeant Hurley is owed significant damages. Exhibits show that at least 100 other military mortgages are being serviced for Deutsche Bank, but it is not clear whether other service members have been affected by the policy that resulted in the Hurley foreclosure.

A spokesman for Deutsche Bank declined to comment, noting that Saxon had handled the litigation on its behalf. A spokesman for Morgan Stanley, which bought Saxon in 2006, said that Saxon had revised its policy to ensure that it complied with the law and was willing to make “reasonable accommodations” to settle disputes, “especially for our servicemen and women.” But the Hurley litigation has continued, he said, because of a “fundamental disagreement between the parties over damages.”

In court papers, lawyers for Saxon and the bank assert the sergeant is entitled to recover no more than the fair market value of his lost home. His lawyers argue that the defendants should pay much more than that — including an award of punitive damages to deter big lenders from future violations of the law. The law is called the Servicemembers Civil Relief Act, and it protects service members on active duty from many of the legal consequences of their forced absence.

via Foreclosure for Reservist on Active Duty Prompts 4-Year Legal Battle – NYTimes.com.

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Warning, big time rant alert, from a blog I recently starting watching: www.iwillteachyoutoberich.com. LINK TO POST

The wonderful nature of blogs is that someone, somewhere will come up with a big time rant that is just entertaining to read at face value. That is not to say that the content doesn’t have merit, for I think he is probably right.

The best part of all this, is the level of frustration that is shown regarding the “Chicken Little and Kooks.” The is a problem I see on TV, talk shows, etc., as well. Even if the person is totally off-base, they might throw out so many irrelevant facts out there that it takes too long to refute every single one. In fact, taking the time to refute the fact gives the original point merit, which it often doesn’t deserve.

In the end, be skeptical of everything you read, and take the time to learn.

Oh and… don’t spend too much time reading everything. Most of it is junk.

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A few more videos of Warren Buffett interviews.

Personally, I find Buffett fascinating. His viewpoint on how the world works is refreshingly straightforward and down to earth.

It comes in 5 parts, the other parts you can find if you look at the “related content on the right.”

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New York Times has an Op-Ed piece from William Chace, a former president at Wesleyan and Emory.  It’s worth a read, and discusses the cost of college education.

I know you’re worried about money. I’m not telling you or your folks anything new when I say that Laudable looks expensive. The tuition increases here, just like those of our competitors, have outstripped the rate of increase in the consumer price index for years. This fall, tuition, room and board averages almost $32,000 at Laudable and other private colleges, and more than $15,000 at public ones.

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NYT: Housing Bubble

Not sure how many of you saw this article in the NY Times, but I just thought it was notable the chart they posted regarding the steep increase in prices.NYT homeprices

This is a significant problem for people of our age, and I wonder if I should plan on renting for the next ten years….

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Lazy post today, but 3 hours of absolutely goodness. 🙂

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