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MOB #51 – Bank Failures, Credit Limit Crackdown, & Our Financial Platform

September 29th, 2008 · podcasts

On this episode of Millionaire or Bust, we start off the show by giving a recap of the events of the week, including the purchase of Washington Mutual by JP Morgan after its seizure by the FDIC, the next most likely bank failures, the possible fate of British mortgage lender Bradford & Bingley, and an update of the major us stock indexes.

Then we get into the current consumer credit limit crackdown by many credit card companies and how it might impact you, what you should do and why.

Finally, with the political season in full swing, Talli and I take the last portion of the show to present and explain the platform for the MOB party. We stand for:

  1. No Debt
  2. Having an emergency fund
  3. Having and sticking to a budget
  4. Retirement savings before education savings
  5. Regular investment
  6. Taking care of your own retirement
  7. Having appropriate insurances
  8. Financial education

If you approve of our platform as we presented it in the podcast, please head on over to iTunes and give us a nice review. A vote for us is a vote for teaching others how to provide for their own financial futures. If you disagree, leave us a voicemail feedback with your ideas explained clearly and calmly (unlike the politicians), so that we can play it on the show. Thanks for listening everyone!

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2 responses so far ↓

  • 1 Michael // Oct 1, 2008 at 3:18 pm

    I have a WaMu account as well. The latest update that I heard from a WaMu teller and from the Wall Street Journal was that within the next 6 – 8 months JP Morgan plans to kill off the WaMu name and convert all WaMu branches to Chase branches.
    Chase is a Great bank as well. So I’m not too worried. I’m much more worried about my Wachovia account that just became a Citibank account…

    Great show! I’m subscribed now. Very clear, concise, and fun to listen to!

  • 2 David // Oct 1, 2008 at 3:48 pm

    Glad to hear that you like Chase. I haven’t had too much experience with them, with the exception of doing some consulting work for JP Morgan a few years back in New York City when I worked with Accenture.

    Now, I just need to see when I’ll need to get some new checks! Hopefully, Chase will toss in some free ones the way that WaMu did.

    Thanks for listening, glad you enjoyed the show!

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