Can Hong Kong Gently Deflate Its Real Estate Bubble?

Hong Kong took a new step this week to let some air out of its real estate bubble, levying a heavy tax on property flippers -- a move that has already sent asking prices there downward. But Hong Kong's real estate risks are dwarfed by those in Mainland China.

Recovery Ahead? Small Businesses Boost Borrowing

A key index that measures small business lending rose 16% in September, its second consecutive month of double-digit increases. That rise in the Thomson Reuters/PayNet Small Business Lending Index is a strong signal that the U.S. economy is finally back on the road to recovery.

Credit Card Debt Plunges 13.4% in Second Quarter

Credit card debt fell sharply in the second quarter as more consumers paid down debts. Average credit card debt fell 13.4% to $4,951 in the second quarter, the lowest since 2002, analysis company TransUnion said in a statement. The state with the highest average credit card debt was Alaska, with $7,148. The lowest was in Iowa, with $3,792.

U.S. Deficit is Dangerous, Greenspan Warns

Former Fed Chairman Alan Greenspan has spoken out about U.S. budget deficits, warning that if borrowing isn't reined in, America could face a Greek-style debt crisis. He calls for a "tectonic shift in fiscal policy."

Costly Cash: The Feds Won't Protect You From Payday Loans

In the wake of the mortgage loan mess and financial crisis, Congress was hot to regulate this business. But the federal-level effort has lost steam, partly because lawmakers seem to have come around to the industry's point of view rather than the consumer's.

Costly Cash: In Texas, Towns Try Zoning Out Payday Lenders

Several have taken it upon themselves to restrict money stores. Most have passed zoning laws that prevent them from expanding into new locations in their city without a special permit. Says Brownsville's mayor: "Our most vulnerable citizens are easy prey for these legal loan sharks, and we want to protect our citizens by regulating them."

How a Retiree Wound Up With a 375% Loan

Preston White needed $5,000 to help his daughter relocate after serving in Iraq. Denied by his bank, he got his cash (but only $4,000) at his local Cash Store via a one-month loan. With fees and interest, he'd need to repay %5,268.50 -- giving him a 375% APR. But that's not the end of the story.

Reckless lendings' fallout continues

The Mortgage Bankers Association (MBA) reports that a record number of loans -- one in seven -- is delinquent, up from one in 10 a year ago....

Don't let credit card debt kill you

According to, the average American household now carries a staggering $6,600 in credit card debt. When you consider that the interest...