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Federal Reserve Board chairman Ben Bernanke spent an extremely tense session Thursday before the House Committee on Oversight and Government Reform regarding whether he pressured Bank of America to acquire Merrill Lynch last year.
Borrowing money to further your education—and by extension, your earning power—is what most financial experts refer to as incurring “good†debt. But even after Laquita Blockson earned her Ph.D. in business, the thousands of dollars she amassed in student loans and credit card debt didn’t feel so good. “I started my Ph.D. debt free, having never taken out a loan for my undergraduate or master’s degrees. I wound up leaving school with a great job, but also a lot of debt,†says Blockson.
At the quarterly faculty/staff assembly at Stillman College last August, several employees expressed concern about potential layoffs. “I said I would do whatever was necessary to ensure that everyone could keep their jobs,†said Ernest McNealy, president of the Tuscaloosa, Alabama-based HBCU, who thinks of his employees as family. After consulting with staff managers and human resources, McNealy concluded that furloughs were a better option than layoffs and decided that all of the non-teaching employees would have to participate, including himself.
President Barack Obama delivered a poignant and candid speech on the importance of fatherhood and personal responsibility before a group made up largely of young males and representatives of community...
