| Dartmouth subpoenaed in loan investigation
HANOVER, N.H. (AP) _ New Hampshire's Dartmouth College has been subpoenaed as part of New York state's investigation of the student loan industry.
The subpoena, dated February 14 and recently made public, was brought by New York Attorney General Andrew Cuomo.
The subpoena addresses the college's arrangement with Bank of America that allows the bank to offer "affinity" credit cards to Dartmouth students and alumni. These cards allow individuals to give back to their alma mater or to another charitable cause as they spend.
Dartmouth is among over 80 colleges and universities that offer affinity cards to their students in conjunction with Bank of America, according to the bank's web site.
Cuomo has alleged that these card programs may represent a conflict of interest if they encourage colleges to promote the banks' lending programs.
Credit card industry tries to hook young people
All major banking institutions pay big money to colleges and universities for on-campus recruiting rights, offering students low initial interest rates and/or other sweetheart deals if they accept a credit card. The rest of us get solicitations through our phone or the mails.Seductive sales campaigns focus on high school graduates and for all kinds of items that TV, movies or society has told them they want, need, should have because they deserve it and others have, so why don't they? Car dealers offer "one-time sales events" to first-time wage earners, high-end electronic stores give 90-day-same-as-cash deals and guarantee that no one will be turned down, furniture showrooms offer newlyweds "no payments 'til next year," cell phones, Internet providers, cable companies, satellite dish outfits all make it sound as if you can't have a decent life without their help.All this has given birth to an additional parasite - the debt-consolidation, paycheck-cashing, payday-loan, instant-refinancing-of-your-car (and you get to keep your car - 'til they come to take it away) industry.Public schools teach kids how to drive, play sports, fit a condom, take birth control pills, find an abortionist or fill out a job application at McDonald's.
Spending detox worth every penny saved
I loved blogging daily at MiamiHerald.com/business (The Frugalista Files) about my experience in spending detox. There were ups (realizing that I had leftover cash after paying both my rent and light bill in a single pay period) and downs (staying home Valentine's Day with no plans). But over all, this has been one of the best experiences of my life. After doing the no-buy month, I realized that I spent way too much and, more importantly, I could change my situation. Like me, many young consumers have a spending problem. According to cardtrak.com, the average credit-card debt per household with a card is $9,659. Many college students graduate with an average of $20,000 in student loan debt. I have both a credit card balance and a student loan to pay off. I want them gone, sooner rather than later.
SLM hires Hewes in new job as credit chief
SLM Corp., the largest US student lender, has created the position of chief credit officer and hired industry veteran John Hewes to fill it. Hewes will oversee credit risk management and underwriting policies for private student loans, SLM, of Reston, Va., said yesterday in a statement. Hewes spent the last 22 years at MBNA Corp., the world's largest independent credit-card issuer, where he headed the consumer finance and business lending divisions, SLM said. MBNA was acquired by Bank of America Corp. in 2006. SLM, known as Sallie Mae, said in January that subsidy cuts for US-guaranteed loans are driving its focus on higher-margin private loans, and that it will become more selective in screening borrowers. Some for-profit education companies, including Corinthian Colleges Inc., have said Sallie Mae halted loans for students deemed high credit risks.
Health Psychology-Mental Health
Stephen Lendman: Potential Health Hazards of Genetically Engineered Foods (2 comments) Disturbing information on the real risks to human health from eating genetically engineered foods. If agribusiness gets its way, that's the only kinds that will be available as they pollute the planet with GMOs. Wednesday, January 30: Kathryn Smith: Psyche wards won't release dangerous people. Does Congress/White House fit the bill? Included in this opinion article is a link to a 9-11 truth article which is the most indicting I have ever seen, where Bush and Cheney's pre-911 planning is concerned. No conspiracy theorists here: Only CIA agents, Senators, and FBI agents are quoted. This could be one of the most important articles you will ever read: Check it out and please pass this on! Thursday, January 17: Stephen Soldz: American and California Psychological Associations move to gut bill on interrogations A major battle is shaping up in California where a coalition is working to remove health providers from participating in military and CIA interrogations.
Owings wants to halt Finch's pay
Owings complaint, filed Tuesday in Knox County Chancery Court, says the county owes Finch almost 238 hours of accrued annual leave worth $14,039.71. The preliminary audit, however, "suggests that Ms. Finch has inadequately documented expenses in the amount of $13,371," Owings' filing notes - $8,231.47 in purchasing-card charges with missing receipts and $5,140.28 in expenditures with inadequate documentation, including 25 charges at Club LeConte, a private restaurant atop First Tennessee Plaza downtown. Other "questionable transactions" on Finch's purchasing card include hotels, restaurants, airlines and two $250 charges to the Congressional Black Caucus. Owings wants the court to direct the annual leave funds, minus taxes and "proper deductions," to an interest-bearing account under control of the Clerk and Master until the dueling claims are resolved.
Hip-Hop Rumors: Ray-J / Kay Slay! Update on Dr. Donda West! Paris ...
He won't even be able to cut steak when this is all over. [Objective disclaimer: Although I am upset, I heard there are other things that will emerge on this where all the blame may not fall on Dr. Jan. Back to the regularly scheduled hate.] …And he has the nerve to talk about unprofessional…is malpractice and driving drunk professional?
I'M SO HOOOOOOOOOD (Remix)
AYO! There aren't too many cats that can mess with Ludacris…
The Soul Train version is a better video though! 70's bodysuits are SO HOOD!
RANDOM QUOTES
Paris Hilton on drunken elephants in Africa (AP):
"The elephants get drunk all the time.
Why does it take so long?
His comments come amid growing controversy over the planning process in Scotland, with a series of large developments hit by delays.Alex Salmond, the First Minister, has already had to defend the Scottish Government's approach to planning after the decision to call in the planned £1 billion Trump golf and housing development in the North-east. An application was made last year but there is still no indication of when a decision will be made on its future.Ministers have yet to decide whether to give the go-ahead to the huge wind farm proposed for the Isle of Lewis, which could meet 11 per cent of Scotland's electricity needs.Also, despite a £10 million, three-month public inquiry, a decision has still to be reached on Scottish Hydro Electric Transmission's proposal for a 137-mile new power line between Beauly and Denny.
Screw caps call for some arm twisting
Any recipient suspecting you to be a cheapskate could always Google the bottle and get set straight pretty quickly.
I'm glad everyone was happy in the end. But remember: All wine closures have their advantages and their faults, screw caps included. The big worry there is something called "reduction." An airtight seal can give wines a sulphury, barnyard smell. Screw caps remain a controversial choice for reds designed for long cellaring. So don't hold on to those bottles for too long.
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Do you have a wine or spirit question for Bill Daley? Write to him at the Chicago Tribune, 435 N. Michigan Ave., Chicago, IL 60611, or e-mail wdaley@tribune.com. Questions cannot be answered individually. .
Barack Obama, Read This Book!
But if Obama is to go forth against the ever-shifting values of John McCain (who last month voted against a bill passed by Congress that would bar the CIA from torturing prisoners, although he has continually claimed to oppose torture), I would like to recommend a new book for him to read: one that will awaken voters—and hopefully our presidential candidates—to what fundamentally separates us from the jihadists who will be our enemies for generations. On September 12, 2001, George W. Bush pledged: "We will not allow this enemy to win the war by changing our way of life or restricting our freedoms." But since then, "this enemy" has in some measure accomplished precisely that, as the Bush administration attempts to amass what John MacKenzie calls, in the title of his essential new book, Absolute Power: How the Unitary Executive Theory Is Undermining the Constitution (the Century Foundation Press, available on Amazon).
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