Posts Tagged Banking

Currency Conversion

BestGuyFriend and his lovely wife are using a credit card with no fees to pay for almost everything during their European trip. Heck, during their visit in London, they didn’t exchange any US Dollars for British Pounds. As not only do you get charged when you exchange but if you are unfortunately left with money before you depart and decide to change back to original currency, you get charged again. Thus, you are losing out twice. So can’t say I really blame them — particularly as the British Pound is but one of five currencies they will encounter during the […]

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Robert Cole’s article in the 17th February edition of the London Times has a great list and of the most common phrases to have cropped up over the last year related to the economy/financial crisis. More importantly, he offers definitions so one can speak intelligently while blaming the banks — and oh yeah, those terrible bankers for today’s current global crisis. Bad bank A financial institution, or part of one, that looks after a bucket of debts that may turn sour. Strictly speaking it is the loans, not the bank, that is bad. Good banks, and especially talented bankers, are […]

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