Tagged: money

The current credit crunch has made it harder for people to get loans from a bank. Gone are the days when you could walk into your local bank branch, flash your credit score and walk out with a loan. So many are turning to their friends and family for help...but is that a good idea?

To lend, or not to lend

When Pete and Michelle Baker wanted to buy a new house, they needed money for a down payment. Their down payment was tied up in their old house, which they hadn't sold yet.

The U.S. House Appropriations Committee just passed a bill that contains some pretty major cuts to Great Lakes funding.

There are a couple of things being targeted:

One is Great Lakes restoration money. That’s being used to clean up pollution, restore habitat and fight invasive species. That pot of money is facing a 17 percent cut.

There are also much bigger cuts aimed at a program that helps cities upgrade their sewage treatment plants... and keep the sewage from overflowing into rivers and lakes. That program’s getting cut by 55 percent.

Jeff Skelding directs the Healing our Waters-Great Lakes Coalition. He calls the bill a huge step backward.

“And let me be crystal clear on the following point: gutting clean water programs will not save the country money. In fact, it will cost us more.”

He says problems like sewage contamination on beaches and invasive species are getting worse.

The bill could come up for a full House vote as early as this weekend.

10-12-13-35-56 (Power Ball 9)... don't pick those numbers. They didn't win last week, and they're not likely to win in the next one hundred million years.

The "Mega Millions" jackpot has reached $330 million today causing a buying frenzy of tickets. Another set of numbers will be drawn tonight (drawings are held every Tuesday and Friday night at 11 p.m. eastern).

According to Durango Bill (and who doesn't trust Durango Bill?), your chances of winning are around one in 175,711,536.

Perhaps another sign that the 'Great Recession' is thawing. Lending to people with a so-so credit score is on the uptick - at least in the car market.

The Associated Press reports "the percentage of loans going to subprime buyers rose 8% in the third quarter, their first year-over-year increase since 2007, according to a report issued Tuesday by Experian, a credit reporting agency."

The campaigns for Michigan candidates for Congress drew a lot of money from out of state. 

The price tag for the Congressional campaigns comes in at about $40 million.  Rich Robinson is with the Michigan Campaign Finance Network.  He says the political parties in Washington, unions, and non-profits with anonymous contributors all chipped in.

“Of the $40 million, I’m estimating $16.8 million of that came from outside sources.”

Several Detroit artists have started what they call “an experiment in micro-funding.”  Once a month they host a public dinner that costs five dollars. During the dinner, several local groups pitch ideas for a creative project they’d like to do.  Diners vote on the proposals and at the end of the night the winning project takes home the money raised from dinner.