But how many of you know what those numbers really mean? Contrary to what one might expect, are not random. There is almost a product of todaythan more financial assistance to credit card U.S. Almighty. Almost everyone has at least one – about 80% of consumers in 2008, according to the Federal Reserve Bank of Boston, and many use it daily basis.Without doubt, there are consumers who know their card numbers credit report (online shopping and travel bookings easier, if nothing else). The 16 numbers are there for a reason, knowing a few simple rules, you can really learn a lot about a number of individual credit card. This infographic shows how to decipher the code.

Once you re-read the instructions worked perfectly! However, there is no way in hell I could never do this in my head, giving the impression that the computer graphics. algorithm very interesting, did not work the first time because I did not break double digits. "How to validate a credit card with the spirit …. No, thanks, I use pen and paper.1 likeReply.

The seventh digit (except the check digit) is not necessarily the account number. Some UK banks, NatWest, for example, using a random number that changes here, and when the card expires. Not tied to your account number in any way. This is for anyone to steal data from your card account this concern. likeReply.

Are you afraid to enter the CC number on this page you can download the source code of the site (link) so that you know is safe! likeReply.

To my knowledge, work in a service provider of credit card: The first number is always 4 / Only VISA, MasterCard is the same for 5 and 6 to explore. We were encoded in many programs. likeReply.

We used before checking the validity of them while working part time while studying. This message brought a lot of fun memories. likeReply. I remember the school as a Luhn algorithm is a nice way to see how credit cards. Once I saved a lot of money for my boss.

Well hello … works for credit cards with 16 digits as Visa and Master, but how it works, for example, with 15-digit American Express? As all 16 digits are used for the algorithm, I think it's slightly different cards for less than 16 digits … likeReply.

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Almost everyone has at least one – about 80% of consumers in 2008, according to the Federal Reserve Bank of Boston, and many use it in doubt basis.Without days there are consumers who know their credit card numbers of memory (online shopping and booking travel easier, if nothing else). There is almost a product of todaythan more financial assistance to credit card U.S. Almighty. But how many of you know what those numbers really mean? Contrary to what one might expect, are not random. This infographic shows how to decipher the code. The 16 numbers are there for a reason, knowing a few simple rules, you can really learn a lot about a number of individual credit card.

"How to validate a credit card with the spirit …. No, thanks, I use pen and paper.1 likeReply. Once again read the instructions worked perfectly! However, there is no way in Hell, I could never do this in my head, giving the impression that the computer graphics. algorithm very interesting, did not work the first time because I did not break double digits.

Related Stories

The fee varies depending on the type of card (debit or credit, reward card or plain vanilla) and how you use it (PIN or signature). When you swipe your card (debit or credit) at the checkstand, a portion of your payment goes to the bank that issued the card. This would apply only to debit cards (whether you use the PIN or sign), not credit cards. For debit cards, the fee is typically about 1% of the transaction, up to about 2% for some reward cards. First, a refresher on interchange fees (aka swipe fees), which are somewhat less complicated than particle physics. The Federal Reserve proposes to cut that fee to 12 cents.

Dennis Moroney, who covers the card industry for TowerGroup, studied mid-sized banks earlier this year and found that they average 8.5 percent of their revenue from debit card fees. Banks are freaking out because they make big money off interchange fees. The reward programs are going to be curtailed, says Moroney. The Fed proposes to replace this revenue streamwhich funds popular products like reward debit cardswith the equivalent of a jar full of pennies.

They dont fully appreciate some of the benefits they get today in terms of payments when they accept cards, says Viveca Ware of Independent Community Bankers of America. The bankers argue ominously that 12 cents isnt enough to cover what merchants and cardholders expect from debit cards. That means fraud prevention and protection from customers with insufficient funds.

The notion that this is going to yield some big windfall for consumers in terms of lower prices is halfway to fantasyland.. Would merchants have spent millions of dollars lobbying for this change if they were just going to pass it all on to the consumer anyway? No. Furthermore, the bankers warn, retailers who pay less for debit cards arent going to pass on their savings to the customer; theyre going to keep the profit for themselves and cackle while they roll around in money. Let me put it this way, says Greg McBride, senior analyst for Bankrate.

At this pointand Im not saying this purely for narrative effectI started getting nervous. Those perks are probably funded by swipe fees. I dont carry a reward debit card, but I do have a checking account (Schwab) which waives all international and ATM fees. I dont want to give up the good stuff just so Walmart can enhance its bottom line.

No, Congress intervened because of market failure. All they can do is lobby Congress (check) or sue (a class-action antitrust suit by retailers against Visa and Mastercard has been pending for years). The premise of doing is this is that the provider of the retailer interchange fees enjoys a quasi-monopoly or oligopoly, says Ip, and thats the argument for why there should be government involvement. (To be clear, Ip didnt say he was in favor of government involvement, just that this was the argument being made by proponents.) Banks compete with each other to offer more feature-rich cards, which drives up the price of interchange. But retailers cant band together to negotiate lower fees, because that would be illegal collusion.

All of these countries have functioning credit and debit card systems, albeit with less in the way of incomprehensible reward card regimes. Canada has a unique arrangement between issuers that sets the debit fee at around (drum roll) 12 cents. Australias central bank has been regulating interchange fees since 2003. The European Union regulates interchange fees. Is this really a bad thing?. In other words, in Australia, card users pay more of the costs of credit card processing. Finally, other countries have been down this road before.

Coming from Australia, it is interesting to see the difference, where there is no such thing as free checking (usually about $5 a month fee), debit rewards is completely unknown concept. Credit Cards are similar, but the rewards are significantly less than what is offered in general over here, but the biggest killer (as a card holder) is the surcharging of credit cards, where it is not uncommon to be hit with a 3+% surcharge, especially for Amex likeReply.

To the author (or his economist friend) what is your prediction on the effect of smaller banks (Less than $10b) in assets being exempt from the $0.12 limit? First off, why? Second, is it even possible to run these parallel systems? Third, will retailers be able to refuse Local Bank Visa and Small Credit Union MasterCard, and accept on the Citis and Chases, and BoAs of the world?.

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Well, when the Federal Reserve moved last week to slash debit card interchange fees, the reaction from large banks, small banks, credit unions, and various folks of the libertarian persuasion was apocalyptic: Dont touch that button! You might break everything and throw consumers into a black hole! Meanwhile, retailers are thrilled because (irony alert) they are looking forward to offering you lower prices.

This would apply only to debit cards (whether you use the PIN or sign), not credit cards. First, a refresher on interchange fees (aka swipe fees), which are somewhat less complicated than particle physics. For debit cards, the fee is typically about 1% of the transaction, up to about 2% for some reward cards. When you swipe your card (debit or credit) at the checkstand, a portion of your payment goes to the bank that issued the card. The fee varies depending on the type of card (debit or credit, reward card or plain vanilla) and how you use it (PIN or signature). The Federal Reserve proposes to cut that fee to 12 cents.

The reward programs are going to be curtailed, says Moroney. The Fed proposes to replace this revenue streamwhich funds popular products like reward debit cardswith the equivalent of a jar full of pennies. Banks are freaking out because they make big money off interchange fees. Dennis Moroney, who covers the card industry for TowerGroup, studied mid-sized banks earlier this year and found that they average 8.5 percent of their revenue from debit card fees.

The bankers argue ominously that 12 cents isnt enough to cover what merchants and cardholders expect from debit cards. They dont fully appreciate some of the benefits they get today in terms of payments when they accept cards, says Viveca Ware of Independent Community Bankers of America. That means fraud prevention and protection from customers with insufficient funds.

Furthermore, the bankers warn, retailers who pay less for debit cards arent going to pass on their savings to the customer; theyre going to keep the profit for themselves and cackle while they roll around in money. The notion that this is going to yield some big windfall for consumers in terms of lower prices is halfway to fantasyland.. Would merchants have spent millions of dollars lobbying for this change if they were just going to pass it all on to the consumer anyway? No. Let me put it this way, says Greg McBride, senior analyst for Bankrate.

I dont want to give up the good stuff just so Walmart can enhance its bottom line. Those perks are probably funded by swipe fees. I dont carry a reward debit card, but I do have a checking account (Schwab) which waives all international and ATM fees. At this pointand Im not saying this purely for narrative effectI started getting nervous.

No, Congress intervened because of market failure. The premise of doing is this is that the provider of the retailer interchange fees enjoys a quasi-monopoly or oligopoly, says Ip, and thats the argument for why there should be government involvement. (To be clear, Ip didnt say he was in favor of government involvement, just that this was the argument being made by proponents.) Banks compete with each other to offer more feature-rich cards, which drives up the price of interchange. All they can do is lobby Congress (check) or sue (a class-action antitrust suit by retailers against Visa and Mastercard has been pending for years). But retailers cant band together to negotiate lower fees, because that would be illegal collusion.

Australias central bank has been regulating interchange fees since 2003. Canada has a unique arrangement between issuers that sets the debit fee at around (drum roll) 12 cents. Finally, other countries have been down this road before. All of these countries have functioning credit and debit card systems, albeit with less in the way of incomprehensible reward card regimes. In other words, in Australia, card users pay more of the costs of credit card processing. The European Union regulates interchange fees. Is this really a bad thing?.

Coming from Australia, it is interesting to see the difference, where there is no such thing as free checking (usually about $5 a month fee), debit rewards is completely unknown concept. Credit Cards are similar, but the rewards are significantly less than what is offered in general over here, but the biggest killer (as a card holder) is the surcharging of credit cards, where it is not uncommon to be hit with a 3+% surcharge, especially for Amex likeReply.

To the author (or his economist friend) what is your prediction on the effect of smaller banks (Less than $10b) in assets being exempt from the $0.12 limit? First off, why? Second, is it even possible to run these parallel systems? Third, will retailers be able to refuse Local Bank Visa and Small Credit Union MasterCard, and accept on the Citis and Chases, and BoAs of the world?.

Related Stories

Well, when the Federal Reserve moved last week to slash debit card interchange fees, the reaction from large banks, small banks, credit unions, and various folks of the libertarian persuasion was apocalyptic: Dont touch that button! You might break everything and throw consumers into a black hole! Meanwhile, retailers are thrilled because (irony alert) they are looking forward to offering you lower prices.

The Federal Reserve proposes to cut that fee to 12 cents. The fee varies depending on the type of card (debit or credit, reward card or plain vanilla) and how you use it (PIN or signature). When you swipe your card (debit or credit) at the checkstand, a portion of your payment goes to the bank that issued the card. This would apply only to debit cards (whether you use the PIN or sign), not credit cards. First, a refresher on interchange fees (aka swipe fees), which are somewhat less complicated than particle physics. For debit cards, the fee is typically about 1% of the transaction, up to about 2% for some reward cards.

The reward programs are going to be curtailed, says Moroney. The Fed proposes to replace this revenue streamwhich funds popular products like reward debit cardswith the equivalent of a jar full of pennies. Banks are freaking out because they make big money off interchange fees. Dennis Moroney, who covers the card industry for TowerGroup, studied mid-sized banks earlier this year and found that they average 8.5 percent of their revenue from debit card fees.

That means fraud prevention and protection from customers with insufficient funds. They dont fully appreciate some of the benefits they get today in terms of payments when they accept cards, says Viveca Ware of Independent Community Bankers of America. The bankers argue ominously that 12 cents isnt enough to cover what merchants and cardholders expect from debit cards.

Would merchants have spent millions of dollars lobbying for this change if they were just going to pass it all on to the consumer anyway? No. Let me put it this way, says Greg McBride, senior analyst for Bankrate. The notion that this is going to yield some big windfall for consumers in terms of lower prices is halfway to fantasyland.. Furthermore, the bankers warn, retailers who pay less for debit cards arent going to pass on their savings to the customer; theyre going to keep the profit for themselves and cackle while they roll around in money.

I dont carry a reward debit card, but I do have a checking account (Schwab) which waives all international and ATM fees. Those perks are probably funded by swipe fees. At this pointand Im not saying this purely for narrative effectI started getting nervous. I dont want to give up the good stuff just so Walmart can enhance its bottom line.

No, Congress intervened because of market failure. But retailers cant band together to negotiate lower fees, because that would be illegal collusion. The premise of doing is this is that the provider of the retailer interchange fees enjoys a quasi-monopoly or oligopoly, says Ip, and thats the argument for why there should be government involvement. (To be clear, Ip didnt say he was in favor of government involvement, just that this was the argument being made by proponents.) Banks compete with each other to offer more feature-rich cards, which drives up the price of interchange. All they can do is lobby Congress (check) or sue (a class-action antitrust suit by retailers against Visa and Mastercard has been pending for years).

Finally, other countries have been down this road before. In other words, in Australia, card users pay more of the costs of credit card processing. The European Union regulates interchange fees. Is this really a bad thing?. All of these countries have functioning credit and debit card systems, albeit with less in the way of incomprehensible reward card regimes. Australias central bank has been regulating interchange fees since 2003. Canada has a unique arrangement between issuers that sets the debit fee at around (drum roll) 12 cents.

Credit Cards are similar, but the rewards are significantly less than what is offered in general over here, but the biggest killer (as a card holder) is the surcharging of credit cards, where it is not uncommon to be hit with a 3+% surcharge, especially for Amex likeReply. Coming from Australia, it is interesting to see the difference, where there is no such thing as free checking (usually about $5 a month fee), debit rewards is completely unknown concept.

To the author (or his economist friend) what is your prediction on the effect of smaller banks (Less than $10b) in assets being exempt from the $0.12 limit? First off, why? Second, is it even possible to run these parallel systems? Third, will retailers be able to refuse Local Bank Visa and Small Credit Union MasterCard, and accept on the Citis and Chases, and BoAs of the world?.

Related Stories

Well, when the Federal Reserve moved last week to slash debit card interchange fees, the reaction from large banks, small banks, credit unions, and various folks of the libertarian persuasion was apocalyptic: Dont touch that button! You might break everything and throw consumers into a black hole! Meanwhile, retailers are thrilled because (irony alert) they are looking forward to offering you lower prices.

When you swipe your card (debit or credit) at the checkstand, a portion of your payment goes to the bank that issued the card. This would apply only to debit cards (whether you use the PIN or sign), not credit cards. The Federal Reserve proposes to cut that fee to 12 cents. First, a refresher on interchange fees (aka swipe fees), which are somewhat less complicated than particle physics. The fee varies depending on the type of card (debit or credit, reward card or plain vanilla) and how you use it (PIN or signature). For debit cards, the fee is typically about 1% of the transaction, up to about 2% for some reward cards.

Banks are freaking out because they make big money off interchange fees. The reward programs are going to be curtailed, says Moroney. The Fed proposes to replace this revenue streamwhich funds popular products like reward debit cardswith the equivalent of a jar full of pennies. Dennis Moroney, who covers the card industry for TowerGroup, studied mid-sized banks earlier this year and found that they average 8.5 percent of their revenue from debit card fees.

That means fraud prevention and protection from customers with insufficient funds. They dont fully appreciate some of the benefits they get today in terms of payments when they accept cards, says Viveca Ware of Independent Community Bankers of America. The bankers argue ominously that 12 cents isnt enough to cover what merchants and cardholders expect from debit cards.

The notion that this is going to yield some big windfall for consumers in terms of lower prices is halfway to fantasyland.. Furthermore, the bankers warn, retailers who pay less for debit cards arent going to pass on their savings to the customer; theyre going to keep the profit for themselves and cackle while they roll around in money. Let me put it this way, says Greg McBride, senior analyst for Bankrate. Would merchants have spent millions of dollars lobbying for this change if they were just going to pass it all on to the consumer anyway? No.

I dont carry a reward debit card, but I do have a checking account (Schwab) which waives all international and ATM fees. I dont want to give up the good stuff just so Walmart can enhance its bottom line. At this pointand Im not saying this purely for narrative effectI started getting nervous. Those perks are probably funded by swipe fees.

All they can do is lobby Congress (check) or sue (a class-action antitrust suit by retailers against Visa and Mastercard has been pending for years). The premise of doing is this is that the provider of the retailer interchange fees enjoys a quasi-monopoly or oligopoly, says Ip, and thats the argument for why there should be government involvement. (To be clear, Ip didnt say he was in favor of government involvement, just that this was the argument being made by proponents.) Banks compete with each other to offer more feature-rich cards, which drives up the price of interchange. No, Congress intervened because of market failure. But retailers cant band together to negotiate lower fees, because that would be illegal collusion.

The European Union regulates interchange fees. Finally, other countries have been down this road before. Is this really a bad thing?. All of these countries have functioning credit and debit card systems, albeit with less in the way of incomprehensible reward card regimes. Canada has a unique arrangement between issuers that sets the debit fee at around (drum roll) 12 cents. In other words, in Australia, card users pay more of the costs of credit card processing. Australias central bank has been regulating interchange fees since 2003.

Coming from Australia, it is interesting to see the difference, where there is no such thing as free checking (usually about $5 a month fee), debit rewards is completely unknown concept. Credit Cards are similar, but the rewards are significantly less than what is offered in general over here, but the biggest killer (as a card holder) is the surcharging of credit cards, where it is not uncommon to be hit with a 3+% surcharge, especially for Amex likeReply.

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That trash a bill that disclosure had 59 votes to 39 votes in the Senate that would force U.S. AOC, and all other "interested parties" to disclose where the money came from. People try to hide things for a reason, and very rarely a good idea. I still want to know because two Republican senators did not vote?. Surprising that those who complain of no more than provide facts, ideas, and complain of any offer. Why are, what they want to hide? To cover his ass and then make a statement when you show me the evidence and the Scot said that he did not do it.

Streamline the government, at the end of the debt, making this country is their slogan great.maybe 2012:). additional revenue water (as osuggests Pedro), keeping taxes cover the everyday normal things, and we can make this nation leads the world. That's what I think too much. I also agree that layoffs should be cut.

ES I said before I have no problem with FOX or right-wing media to be the voice of conservatives, but I have a problem with both, imitating the voice of fear, anger and hate the lies and half-truths – that conservatives are a disservice because they are an honest voice, but a villain, an enemy. Fair and balanced gave us Iraq, fair and balanced has given us weapons of mass destruction and a variety of justifications for Bush's war and Bush continues to spin his version of his book to give interviews. An interview with Rachel or Keith Lawrence will never happen because Bush knows he will fail miserably, and the truth will be revealed. As noted by Keith, Ted Koppel, has never returned to her 30-minute program to explore the facts and report the truth about Iraqi WMD, Valerie Plame, or the large budget deficit and national debt has been making the Republican Party . Keith saw a special comment on the nail.

Our government has forced citizens to save financial institutions in this country and others with taxpayer money, as all these financial institutions are a profitable company refuses to help the country much more, and taxpayers in debt save your ass. I'm surprised that their ivory towers still standing. What a joke this country has become.

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Cost savingYESpay charges a single Setup fee’ per POS; (typically £40). Besides, merchants benefit from low on-going fixed monthly fee per POS system or e-commerce website (between £15- £20) and NOT per click or per transaction charge. Included in the fixed monthly fees are our payment service, support and Help desk (24 hours) and online web-based reporting from the EMBOSS data centres.

Every business (acquiring bank, merchant or third party service provider) accepting card payments and storing, processing or transmitting payment card details must be PCI-DSS certified. For merchants, the compliance process can be costly and very long as several security standards and requirements need to be followed. With YESpay, companies can save up to 65% on their compliance costs and benefit from a high quality service and 24/7 support services. Indeed, outsourcing the card payment side of your business to YESpay helps to:. PCI-DSS (Payment Card Industry Data Security Standard) Level 1 certifiedPCI-DSS is a security standard that includes requirements for security management, policies, procedures and software design.

i. Reduce costs related to PCI-DSS compliance. PCI-DSS is a set of on-going requirements that are subject to frequent updates, and YESpay will constantly update its service to comply with PCI-DSS. In most cases, a PCI-DSS self-certification is sufficient with the help of YESpays outsourced payment service as the merchant is entirely insulated from any sensitive cardholder details.ii. Using YESpay, the merchant is no longer concerned by the risk that the work he undertook to comply with PCI-DSS might be out-of-date because YESpay is taking care of it. Reduce the scope of PCI-DSS requirements undertaken by the merchant.

Together, YESpays PCI-DSS Level 1 and PA-DSS certifications ensure that in all cases, the point-of-sale software is freed from PA-DSS certification. Though YESpay does not need to undergo PA-DSS certification as we are PCI-DSS level-1 certified, we undertake certification of our client payment applications to PA-DSS in order to bring even more confidence to merchants and POS software vendors.

The EasyVTerminal also uses SSL to send all card data encrypted to its remote EMBOSS data centres. Our EasyV Terminal Payment application (PA-DSS compliant) communicates with the PIN pad over an SSL (Secure Socket Layer 128bit 3DES encryption) encrypted LAN. As a matter of security and certification, applications in the retailer network (EPOS or others) are not exposed to the transmission or storage of any card data. Point-to-Point (End-to-End) encryptionYESpays also provides point-to-point (sometimes also referred to as “end-to-end”) encryption from the card acceptance PIN pad devices all the way to its EMBOSS data centres. All cardholder data on LAN is encrypted using SSL at the merchant (retailer) location eliminating card data exposure.

YESpay allows the merchant indirect card information access with the creation of a token linked to the card and passed on to the merchant. The YESpay PCI-DSS certification authorises YESpay to store credit/debit card details securely; hence YESpay simplifies PCI-DSS as it stores card details in its data centres, on behalf of the merchant.

Besides, it can help detect card fraudulent behaviours as one token refers to one credit/debit card number and excessive pending/refunding with cards can be followed. This hash value can be used to identify a card uniquely. Later refund payments without storing card details are also possible. i.    One way function token (SHA-1 Hash): EasyV Terminal (YESpay EFT payment client) returns a SHA1 hash of card number with every transaction response by default. By using SHA-Hash, merchants can also identify cardholders picking up tickets or goods at kiosk.ii.    YESpay proprietary token: Card tokens generated by YESpay enable recurring payments (such as subscription billing) and split/deferred payments. As the hash values are unique and cannot be re-engineered to create the original card numbers, this method is useful to analyse Customers/Cardholders trends and spend patterns throughout stores.

The YESpay EasyV-Suite of card payment products is innovative and cost-effective for EPOS, Kiosk, Hospitality, Mobile and Internet environments. Through EMBOSS, the YESpay Managed Payment Service, merchants can quickly accept integrated card payments within EPOS, kiosks, hospitality and e-commerce systems with minimal capital investment and low on-going services costs. EMBOSS is an on-line IP-based payment processing service that has been generically pre-accredited by major Card Acquirers in Europe and North America (including Chase Paymentech, First Data Merchant Service (FDMS), Barclaycard Business, HSBC, HBOS, Lloyds Cardnet, Streamline, Ulster Bank, Elavon, PBS, Amex and Diners). In addition, the YESpay EMBOSS service is fully end to end certified to Payment Card Industry Data Security Standards (PCI DSS) Level 1 as mandated by Visa and MasterCard. With the YESpay EMBOSS card payment service, merchants can perform card payments in both card-present and card-not-present environments. About YESpay International Limited:YESpay, a global card payments service company, provides highly secure Internet, EMV Chip & PIN, contactless and gift card payment processing services to independent and multi-chain merchants.

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You can link multiple accounts to the same card or completely hide some digits of your card number by pressing a button – buttons that are embedded in the document and is thin as paper itself. Map 2.0 is the next logical step in the bank's staff. Half of credit cards, half of futuristic gadgets, the cards are versatile because they are safe.

We saw the founding of the Society to present their creations at the DEMO Pavilion, and quickly transfer the product as one of the most interesting DEMO start harvest this year. Our editors were surprised to learn that almost Dynamics yesterday, a startup that makes the cards, he won first prize and two People's Choice Award at DEMO, the inaugural conference held in Silicon Valley-centric.

However, it is good to know that prospective financial institutions (Bank of America, perhaps?) Work already with 2.0 prototype cards. We have requested more information on the business side of things and CEO Jeff Mullen was able to tell us that the process was working with several major banks to test the Stealth card, credit cards, the brand will launch "soon." t Mullen could not "give specific dates. The gadgets are new, but without the wide distribution.

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 It certainly seems that way from these comments. It’s true that there are good things Obama has done:  as but one example, both Elizabeth Warren and Simon Johnson believe that Warren’s appointment today will empower her to help police Wall Street’s abusive consumer practices in meaningful ways.  But there have been many, many awful things — not things which he has failed yet to do (i.e., “quickly enough”), but multiple policies he’s affirmatively adopted, including many which directly violate his campaign pledges and ones which Democrats spent years during the Bush presidency vehemently condemning.  Sitting at a $30,000 per plate fundraising dinner and mocking liberal critics as irrational ingrates while wealthy Party donors laugh probably does wonders for bruised presidential egos, but it doesn’t seem to be a particularly effective way to motivate those who are so unmotivated.  Then again, Barack Obama isn’t actually up for election in November, so perhaps the former goal is more important to him than the latter.

But, of course, since when did it work to tell your supporters that they’re irrational?”  He then noted that this proves that prior comments scorning the Left from White House officials, such as from Gibbs, were ”accurately reflecting the president’s feelings . I’m a little proud of the president for continuing to stand up for himself. . . And true. . Here’s a Democratic president shaking the left by its shoulders, begging it to recognize how good they have it. . .”  Remember:  if you vehemently object to any of the above-listed policies or failures of Obama, then you’re “petulant.”. After quoting Obama’s comments — the same ones I quoted above — Stromberg giggled:  ”Funny. .

News of the World, which this month featured a video of boxer Ricky Hatton purportedly snorting cocaine and published an interview with a prostitute who said she had sex with Manchester United footballer Wayne Rooney while his wife was pregnant, will seek payment from Web readers from next month.

Progressives have been yearning for Obama to diversify his sources of economic advice away from the Geithner-Summers axis. Elizabeth Warren will be in the White House, bending the president’s ear on the issues that most affect the average American. “Special assistant” to the President may sound anodyne, but it’s the same position that Obama’s chief of staff, Rahm Emanuel, his national security adviser, Jim Jones, and Carol Browner, director of the White House Office of Energy and Climate Change Policy, all technically have. 2 is increasingly coming to seem the most important, and justifiable, excuse to be excited about Elizabeth Warren’s new job. This is it. But on further reflection, and after digesting the body language of the consumer advocate hovering right to the left of the president, reason No. Theoretically, it includes “walk in” rights on the president, writes Tim Fernholz, in an extremely plugged-in summation of all things Warren.

Healthcare, there’s an example. The advances in medical technology are wonderful, but the financial impact has become staggering. But unfair in the sense that any one of us could be hit, so why is it that we don’t take care of each other? Why is it that we aren’t more careful to make sure that none of us can be devastated financially by a medical problem? So, yeah, I’ve been studying the unfairness of how it translates into the economic insecurity of the middle class. But for the much larger proportion of Americans, the financial consequences of a medical problem can be devastating. I wanted to believe “work hard, play by the rules” equals success. And what I began to see in my research was that the rules were beginning steadily to work against the middle class. We studied these people in our bankruptcy research, and that’s one that I regard as fundamentally unfair, not just in the sense that the Lord deals different cards to different people, and some get sick and some have babies too early. I knew that my parents struggled, but I wanted to believe it was better now. I have been focused on the issue of fairness for 20 years now, ever since I started doing research on the economics of the middle class. Sure, for one segment of society, the people with the gold-plated healthcare, the consequence of a medical problem is nothing more than medical. It was not the case in the 1970s that a modest medical problem could land a family in bankruptcy.

It is a conundrum that has to be approached from two different directions. There is also the part about the rules of the game, about collective action, about what banks are permitted to do, about what lenders are permitted to do, about how we finance, our healthcare, what housing policy looks like, what education policy looks like, what it costs to educate our children. But that by itself will not be enough. For those, the appropriate place to go is to the policy forum, to talk to Congress, to talk to the president, to speak to people about how we can change the rules by which we all live. My advice there is to do everything you can to protect yourself, and I have a whole list of things that I would identify. One direction is from the individual, the borrower, the family. So, the way out of the problem is both on a highly individualized basis and also on a collective basis.

Borrowing money to buy a car so that you can get to work. There is a red light flashing if you’re carrying debt for reasons other than investment. Those are all investments in effect in your future. Borrowing money to buy a home – it can be a good investment. Because people have got to bring their expenses and their income into line with each other. Borrowing money to deal with an emergency, a serious medical problem. This is the part you need to see. And so, that is where I focus on debt particularly with individual families. But borrowing money because you can’t live on your current salary, assuming you are not under some kind of emergency situation, this is your day-to-day, if you are rolling credit card debt over month to month to month, and this is your real job, this is your real life, you do have a serious problem.

A large part of it is that a complex document is one where it is a lot easier to hide the tricks and traps. Today, credit card contracts can run 30 pages or even longer. And much of it is tiny, incomprehensible print. You could tell what the terms were. In 1980, Bank of America’s credit card contract was just a little over 700 words long. Let me just start with your credit card. No one realizes until after they’ve committed $5,000 on their credit card that the interest rate is no longer going to be 3.9 percent, but is going to jump to 28 percent. I think complexity has become a strategy. That is a little over a page, easy to read. Now, why the changes? Well, part of it is regulation. It is a lot easier to fool people.

To make them work for Wall Street, to make them work for financial institutions, ultimately to make them work for the real economy. And, coming out of that, it will be necessary to build the real apparatus to make markets work again, to make them work for families, to make them work, frankly, whether they like it or not. This is an historic moment. The president has just signed into law the most powerful financial reforms in three generations. It is a moment in which there will be great change and I am simultaneously worried about what could go wrong but deeply excited and even optimistic about what could go right.

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