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How Much Money You Got? Sites Broach Taboo Topic

It's easier than ever to see how we stack up with others

(Newser) - You probably don't know Joey Kincer of San Juan Capistrano, California, but if you read the New York Times Magazine this weekend, you'll learn he makes $65,000 a year as a web developer and has a net worth of $201,000 (above the national median but about even with...

15K Yanks Turn Selves in for Offshore Tax Cheating

Asia joins Switzerland as hotspot for hidden assets

(Newser) - Prodded by the stick of a looming crackdown on offshore tax cheats and the carrot of an IRS amnesty program, some 14,700 rich Americans have turned themselves in, disclosing billions in hidden foreign assets. The "unprecedented" participation in the amnesty program surprised the IRS and advisers to the...

Sorry, FDIC Can't Guarantee Interest on That CD

When selling failed banks, Feds allow buyers to slash expected payout

(Newser) - There’s a little-publicized part of your bank deposit the FDIC doesn’t insure, and it’s driving scrupulous savers up the wall. The logic is simple enough: When the FDIC takes over a failed bank and resells its assets, it allows buyers to alter interest rates, particularly on CDs....

Bubbles Reinflating, World Bank Warns

Asian asset prices soaring as recovery takes hold

(Newser) - Efforts to boost economic recovery are having the dangerous side effect of creating new bubbles in property, stock, and currency markets, the World Bank warned yesterday. Commodity prices are also surging, with gold hitting a record price yesterday. The effect is most pronounced in Asia, where recovery has come soonest,...

Desperate for Cash, People Sell Grave Sites

Final resting place is just another asset for the down-and-out

(Newser) - When she got sick, Debbie Jenkins lost her job, both her houses, and burned through her savings. Living in an unheated garage and still unable to pay rent, she discovered her last remaining asset: two cemetery plots. She posted them on Craigslist, declaring they “MUST SELL!!!” It’s...

In '07, Jackson Worth $237M, But Cash-Poor, in Debt

(Newser) - As recently as 2007, Michael Jackson had a net worth of $236.6 million, the AP reports. But his finances weren’t that simple. Most of his $567.6 million in assets were tied up in property and rights—he had just $668,215 in cash—and his debt totaled...

Jacko Leaves Pile of Debt
 Jacko Leaves Pile of Debt 
Jun 26, 2009 10:00 AM CDT

Jacko Leaves Pile of Debt

Could have recouped losses with comeback

(Newser) - Michael Jackson died deep in debt, Reuters reports: Wall Street Journal sources put the figure at $500 million earlier this month. The entertainer and his managers had hoped a planned concert series this summer would refill his coffers. Still, Jackson’s copyrights to his songs and his stake in the...

Judge Holds Madoff Assets for Feds
Judge Holds Madoff Assets for Feds
Apr 20, 2009 6:19 PM CDT

Judge Holds Madoff Assets for Feds

Holdings may go to government through criminal forfeiture

(Newser) - A federal judge stopped Bernard Madoff's assets from moving into bankruptcy today, saying the government may claim them through criminal forfeiture because of Madoff's Ponzi scheme, Bloomberg reports. US District Judge Denny Chin blocked more than $100 million from being moved, a setback to investors who had won the right...

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