As I wrote in an article on Friday, even those who are back at work are not necessarily doing so well: only 7 percent of those who lost jobs after the financial crisis have recovered their income and standard of living. What’s more, the downturn and its aftermath have disproportionately hit people with less education. Even though the unemployment rates of high school dropouts and graduates have fallen from recent highs, they are still much higher than the rate for college graduates.

The Labor Departments jobs report for November, released Friday morning, also shows that the number of employed high school graduates actually fell by 187,000 over the last 12 months, while the number of employed college graduates has gone up 1.1 million during the same period.

Nevertheless, readers have pointed out that even among the college-educated, there is one cohort that is still feeling more pain: older workers. More than half of all unemployed workers 45 to 54 years old have been out of work for six months or more, and among unemployed 55-to-64-year-olds, close to 60 percent have been searching for work for more than six months.

People in the older of these two groups are worse off than they were a year ago. T

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HARGREAVES Lansdown,Britains biggest fund broker,has never been a fan of investment trusts.

The firm religiously excludes them from its influential list of fund recommendations, known as the Wealth 150. The only fundsthat make the gradeare all unit trusts or open-ended funds. Why? Sceptics might say the answer is that unit trusts pay commission toHL and the likes, whereasinvestment trusts (usually) dont.

Investment trusts dohave problems, such as the discount betweenthe traded priceand the underlying assets value; or the fact that they are sometimes not easy to trade.AndHLs investment analysts are quick to point these out as reasons whythe trusts are not promoted. The firms founder, Peter Hargreaves, has gone further,claiming investment trusts are fuddy-duddy vehicles, doomed to die like dinosaurs.

So last year when asset manager Fidelity took the unusual step of launching an investment trust, as opposed to the more usual unit trust,it was surprising to see how aggressivelyHL promoted it.

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It may be hard to believe just how one couple could have amassed over $90,000 in credit card bills. Yet, Sue and Jerry Bailey did just that. In just about thirteen years the Jackson, Michigan, pair ran up $92,000 using 17 different credit cards.
Anyway, the married couple paid for two daughters’ weddings for a total of $10,000 and put both major car and home repairs on plastic, writes Connie Prate on www.creditcards.com. Well, as many of us have experienced, one bill led to another and another and, bang, there you are, over your head in crushing debt.

Mr. Bailey, a pastor, was in charge of his family’s finances; he did not let his wife know how much debt they were in. Mrs. Bailey, a nurse, stated, “’I never thought it [massive debt] would happen to me. It happens to other people. You feel kind of ashamed that you got there because you believe in paying your debt and paying what you owe.’”

It got so bad that the Baileys were afraid to get their mail, fearing threatening letters from collection agencies. They even checked their caller ID before answering the phone; if it was a bill collector, they wouldn’t answer.

So what is this award of which we speak? Sue and J

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One thing is for certain, bankruptcy is a brutal beast when it comes to your credit file. But getting a car loan after bankruptcy is one of the best ways to begin the rebuilding process to regain your borrowing reputation and qualify for other loans. In fact, once your bankruptcy has been discharged, you can pretty much apply almost immediately for a car loan. Let us take a look at what you can do to get the best rates on your post bankruptcy car loan.

Checking Your Credit Report And Score

Before you run to the car dealership, you should always check your credit report to make certain that all of your accounts are noted as discharged in bankruptcy. Oftentimes, your credit report following bankruptcy will still show open accounts when they should be noted as closed and discharged, which does harm to your credit rating. And since different car dealerships use different credit bureaus when they inquire about your credit, be certain that you contact all three major credit reporting bureaus to determine the accuracy of your credit file (Experian, Trans Union, and Equifax).

If your bankruptcy and accounts are not noted accurately, contact the bureau in question immediately to request that they update your record. Read more…

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Major financial institutions often employ traders to involve themselves in buying and selling on global markets. These traders make decisions on behalf of the financial institutions, as well as on behalf of clients. These traders can make a lot of money – but sometimes they go rogue as mistakes prompt them to hide losses and make big gambles in an attempt to turn the tide. The hope is that one big payoff can erase years of hidden losses and make everything right.

Unfortunately, rogue traders resort to reckless trades that can hurt their employers, as well as their clients. Moderate losses turn into massive losses as rogue traders try to cover their tracks, and as they make bigger trades in an attempt to force the market to move. Many use creative accounting practices and outright lies to hide their losses, which can add up into the billions. While some rogue traders lose millions over a short span of time, most rogue traders mount losses over a period of years – even decades – thanks to compounding mistakes, forged trade contracts and orders, and fabricated profits. Here are 10 of the top rogue traders:

10. Joe J

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