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May 12th, 2009 (Modified on May 15th, 2009)

Update1 Weekly Favorites Courtesy of The Consumerist



It has been a while since we last mentioned ‘The Consumerist’, so we figured it was about time. Here are some of their articles which caught our eye over the last two days:

How To Survive The Downturn If You’re Obscenely Wealthy” — While for most of us, the recession means the fear of unemployment, refinancing our mortgages, or even downsizing to only one automobile. For others, it has caused work stoppage on a 145-foot yacht, or the unthinkable replacement of caviar with, dare I say, carrots.

Who said being rich was easy? Forbes’ May 11 cover story, “Survivor’s Guide for the Affluent,” advises the rich on how to navigate this recession’s choppy waters.

Send Us Your Credit Card Questions So We Can Ask ‘Em At The White House” — The Consumerist  will be interviewing Austan Goolsbee, a senior economic adviser to the president, on Thursday in Washington. If you have questions about the latest credit-card reform making its way through Capitol Hill, “send them to tips@consumerist.com, subject line ‘credit card reform.’ If you want to submit your question by uploading a video to YouTube and sending in the link, that’d be swell because then we can splice them into our video.”

Airlines: Thanks For The Extra Billion Dollars In Bag Fees” — What did you think those baggage fees were for? “Collectively, they pocketed an extra $1.1 billion in luggage fees in 2008. American and US Airways led the pack — collecting $278 million and $187.1 million in bag fees respectively.”

“HSBC Credit Card’s Pay-By-Phone Fee Is Higher Than The Bill” — HSBC charged one customer $15 to pay their bill over the phone. After the customer was told that the bank didn’t accept credit or debit card payments, they were warned that a late payment could be listed on their credit report.

Consumerist reader ‘MG’ asked: “Why does HSBC need to charge 15 bucks to process a payment? My local utility does it for $3.00 and even smaller companies do it for free.”

Be sure to check out Consumerist.com for some entertaining stories that are all things consumer.

UPDATE1: The Consumerist has released part one of their four-part interview with White House Senior Economic Advisor Austan Goolsbee on credit card reform.

Click here to get the entire series as it comes out.

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HSH.com's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.

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Tim Manni

Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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