Liquidating Your 401(k)

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Bank of America to shed up to 35,000 jobs

The Bank of America expects to shed 30,000 to 35,000 jobs over the next three years, as it faces a deteriorating economic environment and tries to absorb Merrill Lynch. But the final number of jobs cut from the US banking giant could be even higher,

White House Bails Out Automakers: Everybody Wins, Save Taxpayers

The White House stepped into the breach early Friday, expressing support for Treasury to use TARP funds to bailout the U.S. automakers. “Because Congress failed to act, we will stand ready to prevent an imminent failure until Congress reconvenes and

Home loan paydown or 401(k) contribution?

My wife and I have a monthly mortgage payment of $3,200 per month and our combined income is $180,000. We each made the maximum contribution to our 401(k) accounts of $15,500. I calculated that for the past 3 years, if we had redirected our 401(k)

Obama says hopes auto industry can be helped

CHICAGO (Reuters) – U.S. President-elect Barack Obama said on Friday he was disappointed by the failure of a Senate deal to bail out the U.S. auto industry and hoped that the Bush Administration and Congress “will still find a way” to help the struggling car makers.

Banks ‘to help’ small businesses

Banks have promised to change the way they deal with business customers The banking industry says it will help small business customers in difficulty during the economic downturn. Lenders have revised their guidelines for dealing with these customers.

Europe offers Obama climate, recovery pact

BRUSSELS (Reuters) – EU leaders sealed an ambitious global warming deal and 200-billion-euro ($264 billion) economic crisis pact on Friday, urging U.S. President-elect Barack Obama to join Europe in a “transatlantic recovery plan.”

Focus back on Washington in auto bailout saga

WASHINGTON (Reuters) – The Bush administration warned on Friday that the U.S. economy could not withstand the collapse of the U.S. auto industry and said it might be willing to provide emergency funding to bail out the automakers, a day after Congress failed to pass a bill doing the same.