Paul Volcker wrote a lengthy Op-Ed in the NY Times this weekend without really saying anything. He didn’t lay out rules for how he wants to reform the banks, rather, he reiterated obvious statements that we in the blogosphere have been railing about for 18 months, like:

To help facilitate that process, the concept of a “living will” has been set forth by a number of governments. Stockholders and management would not be protected. Creditors would be at risk, and would suffer to the extent that the ultimate liquidation value of the firm would fall short of its debts.

I mean, I agree with that concept, but it’s a “no shit sherlock” kind of reform. Vol Read more…

It has been claimed in a recent report that companies that offer cash for gold jewellery are not giving consumers the full value of their jewellery. In fact, the report claims that quite often consumers are only receiving a fraction of the worth of the jewellery from the firms. According to the consumer campaign group Which?

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Nicholas and Mary Lagattuta sold a four-bedroom, 2.5-bath home at 324 Lincoln Ave. in Park Ridge to Mark and Ana Shaffer for $580,000 on Dec. 24.

The 2,165-square-foot house was built in 1968 in West Park Ridge.

Mr. Lagattuta is a partner and attorney at Lagattuta & DeGrazia PC in Schaumburg, where he specializes in criminal, divorce, personal injury, and real estate law. Prior to entering private practice, he served as a Cook County Assistant States Attorney.

He earned his bachelor’s in accounting and his J.D. from DePaul University.

According to BlockShopper.com, there have been 377 home sales in Park Ridge during the past 12 months, with a median sales price of $335,000.

If you need a Chicago Lawyer, visit Chicago Local Lawyers . O

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Recently, I had a conversation with a friend of mine about some of the things I write about here on The Simple Dollar. Even though she’s struggling with some serious debt issues, she told me flatly that she didn’t want to take most of the advice given on The Simple Dollar. When I asked her why, she breathed in deep and told me the following (paraphrased):

I don’t want to be a “frugal” person. I don’t want to be the person who is no fun because I’m always chasing every dime and I’m always vetoing the fun things to do. I don’t want to be the person that leaves out cheap toilet paper for guests. I don’t want to just sit at home every night cackling as I count my pennies. I want to have a li

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People will start seeing important changes on their credit card statements that could result in better debt management skills in the long term for many of them.

Under the terms of the federal Credit Card Accountability, Responsibility and Disclosure Act, lenders must now provide people with information on their monthly statements about how long it would take to pay down their total balance by just making minimum payments. Related information on the statements will show consumers how much their monthly payments would have to be in order to pay down a balance in three years. Read more…

The usage of social media has undergone explosive growth in recent months driven by what appears to be an almost insatiable desire to stay connected. But how have these new forms of media influenced consumer choice when it comes to evaluating and purchasing travel services? The results of the most recent travelhorizons survey reveal some intriguing insights.

According to the nationally representative survey of just over 2,200 US adults that was conducted in October 2009, almost 6 out of 10 (59 percent) of active travelers have visited a social networking site. Their most popular activities while on these sites include uploading photos/videos (49 percent) and rating products or services (46 percent).

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Debit and credit cards may provide a certain amount of convenience when making purchases, but it’s that very ease that may end up putting some people in need of debt relief.

In a recent column for ABC News, David McPherson noted that he has taken a different approach when it comes to making smaller purchases, one that may help consumers trying to concentrate on savings. Rather than pull out a card for everyday purchases, McPherson has suggested the use of cash only.

“My belief is that relying on cash in the wallet rather than plastic instills greater budget discipline and reduces impulse purchases,” McPherson said. Read more…