Teaching teens how to gain financial freedo

During the US housing boom, this market expanded significantly. But a series of interest rate rises over two years meant many sub-prime borrowers could no longer afford their monthly payments, causing them to default on loans.

Citigroup is far from alone in being hit by bad debt, but its write-off is by far the biggest announced by any bank to date.

Analysts generally welcomed the results, as the $18.1bn bad debt write down was less than market expectations of $20bn.

However, analysts had mixed views on what message cutting the dividend and selling securities sent to the market.

It does nothing to send any signal that we are anyway near the end of the road that we've been going along for the past seven months, in the overall credit market woes, said Howard Wheeldon, senior strategist at BGC partners. read more

Bankruptcy filings jump, but remain lower than 2004

I've never known an entrepreneur who started a business without making a few mistakes. Certainly, you'll be no exception. You'll make them, try to fix them, and then move on. However, some entrepreneurs fall into traps that are bigger than mistakes. They are, in effect, entrepreneurial sins. Some of these sins will harm your personal life; others may irreparably damage your business, and still others will do both. Many entrepreneurs who came before you have committed these acts and, predictably, suffered their consequences. In the interest of saving your entrepreneurial soul, here are the ten cardinal sins that you must never commit:

1. Not learning from your own mistakes. Talk to any entrepreneur and he or she will tell you about crazy, ridiculous mistakes that will have you shaking your head and saying, I just can't believe someone could be that stupid. Well, they can, I can, and so can you. read more