NYU Business School Fail

May 25, 2010 by  
Filed under Fools of Finance

You must watch this video blog post about a recent graduate of NYU’s undergraduate business program. The guy is depressed and collapsing under $275,000 in student loan debt. Read more

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Padded Pensions in New York

May 21, 2010 by  
Filed under Fools of Finance

Do you need another reason not to live in the state of New York? Read on and you will discover one.  Read more

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The Gulf Oil Rig Explosion and Your Personal Finances

April 30, 2010 by  
Filed under Fools of Finance

What has happened from the gulf oil rig explosion and is about to happen to the Louisiana coast is going to cost all of us. It won’t be pretty but even Mr. ToughMoneyLove is disturbed by what is happening there. Read more

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Hard Truth Week in Review – Cynics Edition

April 25, 2010 by  
Filed under Fools of Finance

I’m a generally cynical person about personal finance. No surprise there. I’m not saying that’s a good thing. I’m just owning up to my flaws as a human being. Here’s an explanation of why you may be a cynic too.

Here are a few more cynical readings in the world of money. Read more

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Tax Man Charlie Rangel – I Told You So

March 3, 2010 by  
Filed under Fools of Finance

Charlie Rangel was forced by prevailing sentiment to today take leave from his chairmanship of the House Ways and Means Committee.

It’s about time. Rangel can’t even spell the word “ethics” let alone understand its meaning.

I have been on Rangel’s case and ethical misdeeds since September 2008. The facts were there yet Rangel’s Congressional colleagues just sat there for months, ignoring them.

Even in his last words before stepping aside, Rangel’s dishonesty was on display. Catch this tidbit from the article:

Pushed on whether he would step aside temporarily, he replied, “No.”

He said he was headed back to his office to work on jobs legislation, and when a reporter asked if he would still be the committee chairman on Wednesday, Mr. Rangel said, “Yes, and I don’t lie to the press.”

Well, actually he did lie to the press because this is Wednesday and Rangel is no longer the Committee Chairman.

Everyone should be relieved that Rangel will no longer have the opportunity to direct his “mother of all tax bills” through the House. On the other hand, I have no doubt that the morons in his district will re-elect him.

We don’t need mere “change” in Washington. We need an earthquake – for Republicans and Democrats alike. Our collective financial future still hangs in the balance.

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Vote Buying in Vegas

February 19, 2010 by  
Filed under Fools of Finance

Lest you think that money and politics have changed (or will ever change), consider President Obama’s recent decision to use $1.5 billion of your money to buy votes for a desperate Harry Reid. Read more

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Should Personal Finance Blogs Come with Warning Labels?

February 16, 2010 by  
Filed under Fools of Finance

I scan/read a lot of personal finance blogs. A few I find educational. A few others are worth reading because of the quality of the writing. Some I read for no good reason at all. (I gotta do something about that time-waster.) And then there are those blog posts that just make you shake your head in amazement. Some of those need “bad money behavior” warning labels. Read more

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When the Name Brand Purchase is a Bad Deal

January 26, 2010 by  
Filed under Fools of Finance

Paying more for a “name brand” product is a tricky proposition. A few high-end or luxury brands are worth the extra cost because they legitimately provide a valued upgrade in performance or durability. The cost-benefit analysis is favorable to the consumer. But that is not always true and the trend may be downward.

The worst reason to buy a name brand is to fulfill the purchaser’s desire to impress others and to create feelings of self-importance. There are plenty of consumers who play that game and the expensive name brand merchants are happy to oblige. We see a lot of that in the constantly changing world of high fashion. (Sorry ladies, but I think you are the primary players in that money-wasting area.) Today I learned of an extreme example of a “name brand” manufacturer taking advantage of careless consumers. Read more

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Clubbing with Money Morons

January 8, 2010 by  
Filed under Fools of Finance

We knew that the clowns who crashed President Obama’s first State Dinner were in it for the money. What we weren’t sure of was exactly how they would exploit their faux celebrity. Now we know. Read more

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A Christmas Message for those Considering Law School

December 18, 2009 by  
Filed under Fools of Finance

Long time readers know that Mr. ToughMoneyLove is a lawyer. They also know that I am no fan of law schools, who mostly exist to attract mostly borrowed tuition money from students having mostly unrealistic expectations about their post-law school financial futures. Read more

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