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By Ray Paulick Shares in Magna Entertainment (MECA), the debt-ridden racetrack operating company controlled by Frank Stronach, plunged by 56% in Tuesday’s trading on the NASDAQ exchange. Closing at $1.75 per share (down from $4.00) under extremely heavy trading (more than 30 times higher than the

The is no doubt that payday lenders have a bad name, they probably rank right around used car sales people when it comes to trustworthiness and believability but don’t strike me with lightning when I say, there is a place for payday lenders. I admit I was a payday lender at one time.

This week is the week that everything will change. Billions of dollars for corporate bailouts. Hard-earned taxpayer money to secure credit lines for shrinking Wall Street giants. Dogs and cats! Living together! Of COURSE this crisis in economic confidence and the collapse of once-stable financial markets will impact the way Americans vote in November.

Lehman Brothers wasn't worth any public money. But AIG? Well, that's another story. After the Bear Stearns, Fannie Mae and Freddie bailouts, people applauded when Treasury Secretary Henry Paulson said there was no more public money available. But he has already been forced to change his tune.

Asia stocks rebounded and oil extended gains to more than $3 a barrel on Wednesday after the Federal Reserve said it would take over American International Group in a dramatic about-face as victims of the financial crisis kept piling up.

Leading American Insurance company American International Group Inc. is in the bad shape and likely to file for bankruptcy. However they have been allowed to use $20 billion of assets held by its subsidiaries to provide cash needed for the troubled insurer to stay in... read more

The sky is falling… The sky is falling… I spent a few blissful days out at the beach this past weekend ignoring the news. I came home and got back online was greeted by the grim news of the latest shake up on Wall Street.

Business Credit Drying Up From the Financial Times: British companies are getting nervous. In recent weeks bond issuance by European companies has spiked. "For the past year, borrowers had seen the credit crunch as confined to the financial markets," said Morven Jones, head of European corporate debt capital markets at Lehman Brothers.

Ignorance is bliss, which perhaps explains Gov. Sarah Palin being so confidently wrong about the root cause of the federalization of most of the nation’s mortgage market. But what is Sen. John McCain’s excuse?

Ignorance is bliss, which perhaps explains Gov. Sarah Palin being so confidently wrong about the root cause of the federalization of most of the nation’s mortgage market. But what is Sen. John McCain’s excuse?