Posts Tagged ‘Black Finance’

Milly’s Money: Somebody Lied to You About Credit Reports

December 15, 2008 Leave a comment

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Somebody Lied to You: Let’s Set the Record Straight

By: Milagros DuBouchet

Lie #1:

Have you ever seen those charmingly annoying commercials?  The commercials with the French guy who lip-synchs melodies in an attempt to capture your heart and most importantly, your credit card?  You would think a site called would actually give you a credit report for free but sadly, that’s not the case.  Next time you watch the commercial, listen closely to the “fine print” that’s narrated afterwards.  To make a long story short, you‘ll get a free credit report if you sign up for “Triple Advantage”—a product you actually have to pay for.  I hope this justifies your desire to throw your remote control at the TV screen every time these commercials are on […]

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Your Black Money: Secrets about Bill Collectors

December 11, 2008 Leave a comment


6 Secrets Debt Collectors wish you never knew

By: Milagros DuBouchet

The world of debt collection is a mystery to most people. One thing we do know is that they can be very aggressive when it comes to collecting money. We know all about the annoying phone calls at 8am and the letters that cause nothing but anxiety. Some debt collectors are easy to work with; others can be incredibly difficult. In my work, I speak to debt collectors on a daily basis. I speak on behalf of my clients when they’ve been too intimidated, or are unsure how to communicate with them. The key to getting the most out of a situation with a collection agency is to learn their secrets, and use them to your advantage.

Secret #1 – They can reduce up to 50% of your original debt. This is the rule of thumb. Debt collectors know when they’re speaking with someone who doesn’t know the tricks of the trade […]

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Your Black Scholar: Blacks, Banking, CRA And The Right Wing

October 19, 2008 Leave a comment

Blacks, Banking, CRA and the Right Wing
By: Lloyd Wynn

While Blacks have many individual superstars in diverse segments of our society, one of the fundamental weaknesses as a group is too many blind-spots when it comes to the economy. Those blind-spots, in part, will explain the disturbing trend of Blacks parroting rhetoric without considering its origin or veracity. To label the Community Reinvestment Act (CRA) the villain in the subprime mortgage market’s collapse is to demonstrate a lack of understanding about the flow of the money and its destination.


UCLA Law Professor, Stephen Bainbridge commented that, “[s]ome of my fellow conservatives are not only embarrassing themselves during the financial crisis, they’re embarrassing the rest of us who share that label”. Moreover, Blacks would not make irresponsible statements such as “the CRA is a cancer on the American economic system” or the absolutely ridiculous claim that the CRA caused the Savings and Loan crisis and lastly, if we were properly informed, the propaganda would not gain enough traction to convince the public of this inalterable reality: Republicans and Wall Street let the bull run wild and he destroyed everything in the china shop […]

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Your Black Scholar: Beyond $700 Billion – By Lloyd Wynn

October 9, 2008 Leave a comment

Beyond $700 Billion

By: Lloyd Wynn

Imagine a patient visiting her physician for an annual checkup and is informed she has cancer. While in her physician’s office, she has a heart attack and now the physician must attend to the patient’s immediate health concern (the heart attack). That is the situation the Administration must confront. The $700 billion request by the Administration will address the heart attack but not the cancer which some experts think has metastasized.

Last week when the Administration made its case before key leaders from Congress and the two presidential candidates, it was revealed credit markets were frozen and interbank lending had ceased. If we are to believe the Administration, famine, pestilence and locusts will plague us for the next 15 years if Congress does not approve their $700 billion request.

Well on Monday, Congress refused to approve the $700 billion plan. The rejection was not along party lines as 133 Republicans and 95 Democrats opposed the plan, but the ensuing finger-pointing surely turned partisan. The republican leadership (Reps. Boehner and Blount) quickly assailed the speech of Speaker Nancy Pelosi, D. CA, given during the debate prior to the vote, as the cataclysmic event which alienated many of the 133 Republicans. I can think of many reasons to run Speaker Pelosi out of town on rails but that speech was not one of them…

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