Publishers Rush to Meet Need for Financial Advice

2008 investment slammed by financial crisis

(NEWSER) - Libya handed $1.3 billion in Goldman Sachs in 2008 for a range of investments—but as the financial crisis took hold, the money lost 98% of its value, a Wall Street Journal investigation finds. Goldman made a deal with Moammar Gadhafi’s sovereign-wealth fund as it sought “to join the major leagues” in investment banking, says a former Treasury official. Libya’s $1.3 billion went to options on currencies and stocks in Citigroup, Italy’s UniCredit, Banco Santander, and more. More»

Economic titan leaves mixed legacy, will continue to advise

(NEWSER) - Economic heavyweight Paul Volcker is adding his name to the list of advisers leaving the White House this month, reports Reuters. The 83-year-old architect of the Volcker Rule will no longer head up the President's Economic Recovery Advisory Board , but has indicated that he'll continue to advise President Obama as needed. An announcement is expected tomorrow, as Obama finalizes staff changes. More»

Maybe all the profanity will keep you reading

(NEWSER) - There are so many books about the financial crisis, how does one choose which to read first? One method: Go for the one with the most instances of the word “fuck.” Conveniently enough, Paul Kedrosky has assembled a handy list. Not big on the idea of the f-word prominently featured in your bailout books? Don’t worry, the clean ones appear at the bottom of the list:

1. The Big Short by Michael Lewis: 15 total, .06 per page

'The Day I Shot Cupid' is a mess, but an entertaining one

(NEWSER) - Jennifer Love Hewitt wrote a book of advice about love, which is just as ridiculous as it sounds. “Here are 10 completely awesome things that happen in this book,” writes Linda Holmes for NPR :

1. Hewitt admits to visiting and trying on her “dream ring” once a month since she was 12. She is now 31. “If this is true, she has made roughly 225 trips to the jewelry store to try on engagement rings. I do not know where to go with this.”
2. Among her recommendations: Make out with a stranger to get over a breakup—but only if he’s “gorgeous”—and always spray tan before a date.

Reliance on volatile 401(k)s breeds reluctance to retire

(NEWSER) - Their retirement savings devastated by the financial crisis, older workers are increasingly postponing retirement, the New York Times reports, creating even more competition for scarce jobs. A recent survey found that four in 10 workers over 62 have remained at their jobs longer than they planned thanks to the recession. Our dependence on fluctuating 401(k)s for retirement is turning out to have a perverse effect on the economy, the Times notes. "It’s a sort of reverse automatic stabilizer,” says one economics prof. More»