One of Greece’s largest banks plans to write off the debt of clients who owe up to 20,000 euros. Several bank bosses have left their posts since Greece’s radical left government came to power in January and the European Central Bank no longer accepts Greek sovereign bonds as collateral. In short, the Greek banks, in desperate need of liquidity, are between a rock and a hard place.
In 2004, the federal debt was $7.3 trillion. This rose to $10 trillion when the housing bubble burst four years later. Today it exceeds $18 trillion. So, in 2004, the average taxpayer owed $72,000. Today, they owe over $154,000.
According to a new retirement survey, only 67% of American workers, or their spouse, have saved money for retirement. 57% have less than $25,000 in savings and 28% have less…
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