by tomasz on June 30, 2009 If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!This post has been inspired by Studenomics and his article about short sighed financial decisions.I wrote before how cutting up your credit cards just doesn’t work and does not solve the problem. Credit cards are great tools if used properly. Same with how most of us use Internet as a distraction and become addicted to it.Credit historyAnyways, by cutting up your credit card not only are

June 30 (Bloomberg) — Porsche SE , struggling to refinance 9 billion euros ($12.7 billion) in debt, said it will seek “alternative” funding after Germany’s state-owned development bank KfW Group rejected the sports-car maker’s loan request.

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Wired PR News – Employees of banks and consumer advocate groups are alleging that some practices aimed at charging higher fees to consumers have been a contributing factor to the credit crisis. As reported by the Associated Press (AP), some are claiming that several large banks heavily encouraged workers to enroll customers in programs that charged high fees, and other practices for which they are calling for reform.Stephen Lerner, coordinator for the Service Employees International Union financ

Wired PR News – Former financier Bernard Madoff has been sentenced to 150 years in prison. As reported by the Associated Press (AP), Madoff, who pleaded guilty to fraud and other charges in March, was given the maximum sentence allowable for his crimes on Monday.U.S. District Judge Denny Chin, who refused the 71 year old’s request for leniency, is quoted by the AP as stating “Here the message must be sent that Mr. Madoff’s crimes were extraordinarily evil and that this kind of manipulation of th