Federal Bailouts

If you have been watching the news you have notice the fall of several financial banks. Many financial institutions are in trouble and more are expected to rise in the coming months. The Federal Reserve has bailed out American International Group, Freddy Mac, Indy Mac and gave the economy a post to help Wall Street stay afloat. What does all this bailouts mean for you, well let me tell you it means an increase in credit card late fees of up to 19% when you miss a payment. Also, if you have 401ks in the Stock Market you could be losing up two 60% of your money. Mutual funds and bonds have has some steady increase, but not much as the markets have been shaky.

The taxpayer will be the one stuck with the bill as the economy tries to stay afloat during these trying times. The commercial bank Washington Mutual is slated to go under next due to some shady business practices and bad loans that were not covered from the mortgage crises. A word to the wise it protect your money and look to get into gold and some international stocks.

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