In this week’s episode of Millionaire or Bust, we started off with mixed news:
- The DOW closed up for the second straight week even though it was down Friday at 7,278.
- May crude edged up 3 cents to settle at $52.07 a barrel.
- The price of U.S. gasoline was down for the first time in 3 weeks.
- Bank of America’s CEO said that B of A could repay TARP funds in 2009.
- This week in bank failures brought us 3 banks failures, bringing us to 20 so far this year. Plus there were two big credit union failures.
- The number of new housing projects that builders broke ground on in February rose 22.2% from January.
- US Postal Rates are to go up to $0.44 on May 11.
- The Obama administration on Thursday launched a new Website to provide information to home owners about its mortgage modification and refinancing programs.
- The Website is makinghomeaffordable.gov.
- JoS. A. Bank Clothiers on Tuesday announced a program that offers a full rebate on the price of a suit if the purchaser loses his job. And, the consumer can keep the suit.
Then, with the news out of the way, I go over five scams that are on the rise as a result of the recession.
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