Money Snatchers

For example, I’ve talked before about how we taped a picture of our daughter to our credit cards while we were paying down our debt . Many people I know use some sort of 30-day rule to curb their impulse desires, especially those which …

German banks are trying to resuscitate securitized debt to get the credit markets moving again, according to a paper from the Federal Association of German Banks, which includes Deutsche Bank and Commerzbank , the country’s largest lenders.

German banks are trying to resuscitate securitized debt to get the credit markets moving again, according to a paper from the Federal Association of German Banks obtained by DealBook.

So if you have a 20% rate on your credit card, you’re paying 50-70% in the next year to pay that debt off in interest and taxes. Now imagine you’re a consumer, without the tax benefits of incorporation.

Fitch Ratings on Wednesday cut Comerica’s investment-grade debt ratings, saying the bank’s profitability is increasingly threatened by higher credit costs and the recession.

Moody’s Investors Service on Monday cut its senior unsecured debt rating for Discover Financial Services into non-investment grade territory, citing risks the credit card company faces from the prolonged credit crunch and recession.