Personal finance lessons from the Detroit bankruptcy

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July 28, 2013 by apicomely

Report: German finance minister insists there will be no 2nd debt writedown for Greece

Much like Detroit,the solution is to carefully evaluate how your money is being spent and come up with a plan for fixing things.Detroits plan might involve cutting pensions or selling some city assets. Your plan might involve cutting back on spending or selling some of the items in your closet. This touches on another aspect of Detroits bankruptcy that people everywhere should be thinking about:your pensions are not golden, even if youre employed by a government or other public-sector employer.You should not be planning your retirement based on your pension being available for 40 years. Its just not a good plan.

D.C.’s campaign finance laws need reforming

Mr. Browns 2010 campaign for chairman was the subject of an audit, released this month by the campaign finance office, that showed the same problems that afflicted the earlier campaign, albeit on a smaller scale. Among the findings was the expenditure of more than $215,000 on consulting services to two companies; the committee didnt produce contracts or invoices detailing what services were provided. Also cited was the issuance of 28 checks, including seven made out to cash, totaling $92,260 by Che Brown, Mr.

More business news Did Halliburton cut a good deal with Justice Dept.? Steven Mufson Agency agreed to not pursue charges beyond a misdemeanor in return for cooperation. But investors on Friday shrugged off the settlement. More business news Schaeuble was quoted as saying its certain, however, that there will be no second debt writedown for Athens. Extracts of the interview, to be published Sunday, were released by the paper Saturday and confirmed by the Finance Ministry. With Germanys general election two months away, Chancellor Angela Merkels conservative government has been at pains to appear firm on Greeces international bailout, which is unpopular with many Germans.

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