All sorts of things happened this year in the world of personal finance. Probably the biggest story was the subprime crash. Indeed, the four stories that I found to be the biggest of the year are all related to the after math of the subprime crash — and the attempts made to fix the economy. Here they are:

The Fed has gotten involved in the economy with its cash liquidity plan.
The Bush Administration offered a mortgage fix that doesn’t actually really fix anything.
The financial sector is having serious troubles, including underdisclosed debt obligations.
A predatory lending bill was passed — but we …read more

The Bush Administration briefed Republicans today about a deal with the mortgage industry to halt the subprime meltdown. It might be released to the rest of us by tomorrow. One of the main concerns? Bloomberg reports that the mortgage fix doesn’t benefit those with resetting mortgages who are able to make payments:
“My biggest concern is that there are a lot of Americans who are making their mortgage payments, they are current, and the benefit won’t go to them,” Representative Spencer Bachus, the top Republican on the House Financial Services Committee, told reporters after the meeting with Paulson today.
Evidently, the …read more