money-matters

Why Does It Cost Almost $600 to Attend Public School?

Hamilton Nolan · 07/25/13 04:11PM

The United States ostensibly offers a free public education to every student who wants one. The reality is different. What you see above—originally published this week on Clashtalk, Gawker's community Kinja site, by an outraged parent—is part of a "fee slip" for a public high school in Park Ridge, Ill. (the full image is below). The parent in question owes $586.25 in mandatory fees for her daughter to attend tenth grade. Why?

Hottest New Place to Live: Mom's Couch

Hamilton Nolan · 07/23/13 01:41PM

Real estate prices are skyrocketing! The housing bubble is already re-inflating itself! Great news for property owners. Bad news for the increasing number of people who are living on your couch.

Families Are Doing College on the Cheap

Hamilton Nolan · 07/23/13 09:58AM

A big new annual survey on how Americans pay for college is out today, and the trend lines are clear: families are finding ways to kick in less for school, and nobody's bearing the brunt of the trend more than black students.

Our Two-Faced Economy

Hamilton Nolan · 07/19/13 11:44AM

On one hand, the U.S. economy of the past few years has been great— for investors, banks, and the young affluent types propelling the new tech boom. On the other hand, progress for the middle class is all but absent (not to mention the lower class). Sooner or later, one hand is going to cut the other hand off.

Hamilton Nolan · 07/18/13 08:06AM

Morgan Stanley today posted a 42% rise in quarterly profits, just the latest in this week's nonstop parade of big banks announcing huge earnings. Remember this moment, when the bad times come.

Hamilton Nolan · 07/17/13 10:29AM

Bank of America posted a 63% gain in second quarter profits today, making it the fifth big bank to announce huge earnings this week. Fear everything.

Hamilton Nolan · 07/16/13 08:53AM

Goldman Sachs today became the fourth big bank to post huge profits this week. Wall Street is back on top! This is how it always starts.

Hamilton Nolan · 07/15/13 10:32AM

Citigroup today became the third major bank to post huge profits this quarter, as finance once again becomes the most profitable industry in America. We are definitely in for some bad shit soon.

Part-Time Is the New Full-Time

Hamilton Nolan · 07/15/13 08:52AM

America's Part-Time Recovery, in which the regular jobs that were vaporized in the Great Recession are replaced with shitty part-time jobs, is working out beautifully for the noble job creators. Thanks to a combination of high unemployment, the looming Obamacare law, and greed, it appears that for many workers, part-time status is the new normal.

Hamilton Nolan · 07/12/13 02:01PM

Here you will find another in a theoretically bottomless barrel of stories explaining why hedge funds are scams.

Hedge Funds Will Be Able to Advertise Soon

Hamilton Nolan · 07/10/13 04:01PM

For 80 years, it's been illegal for hedge funds to advertise to the public, due to various SEC regulations. Now, those regulations are changing. Hedge funds will soon be able to advertise! *Eyes you up and down* Probably not to you, though.

At Least One Country Is Ready to Jail Some Bankers

Hamilton Nolan · 07/08/13 02:58PM

After the Great Recession struck, many "Main Street" types of Americans were mad that the entire global economy managed to melt down without resulting in any "Wall Street" types of Americans being thrown in jail. Finally, the law on this point is changing.

The More Your Pension Fund Pays Wall Street, the Less You Get

Hamilton Nolan · 07/03/13 08:54AM

The highly paid money managers of Wall Street often point out that they're not just making money for themselves; they're helping to enrich the retirement funds of millions of state workers, just like you. False! A new study points out that the more Wall Street makes, the less your pension fund makes.

Hamilton Nolan · 07/02/13 11:04AM

Private equity firms have discovered an exciting new strategy for screwing their investors over (more than usual).

Super-Successful Hedge Fund Reportedly a Huge Tax Dodger

Hamilton Nolan · 07/01/13 09:10AM

The Renaissance Technologies Medallion fund is one of the most successful hedge funds in history, earning an average profit of 80% per year over the last quarter of a century. The IRS believes the fund has been successful— too successful— at dodging taxes.

Hamilton Nolan · 06/27/13 02:24PM

"From 2008 to 2011, only 17% of court-ordered claims for back pay and labor law penalties were collected" by low-wage workers in California. Almost everyone got screwed by the boss.

Way Too Many Americans Spend Most of Their Income on Rent

Hamilton Nolan · 06/27/13 10:47AM

Throughout America, the housing market has recovered so well from its collapse five years ago that we're already talking about the next collapse. This has been great news for current homeowners. But for poor people who would prefer not to be homeless, times are only getting harder.

Hamilton Nolan · 06/26/13 08:35AM

A new report says the majority of Americans with student loans are "concerned they will be unable to repay their debt." Next week, federal student loan rates are likely to double.