Wonder what happened to the typical American during this recession? In this episode, meet the real Joe the Plumber. Joseph Giannone, a third-generation plumber from South Philadelphia, explains how events on Wall Street have affected him and other Main Street workers. You’ll see how banks’ bad moves affect credit limits, interest rates and loans, making it harder for small businesses to survive.
Replying to some “Joe Investor” questions from some MoneyTrack viewers, Pam explains why broad diversification is bullet-proof protection for your 401(k), and why you need to research ways to save on costs and fees charged by the investing middleman. And Investing 101 guest professor, veteran financial journalist Jim Jubak, gives advice about managing your portfolio for the future.
What happens when typical middle-class Americans try to find a faster shortcut to wealth but meet characters straight out of The Sopranos? In this Scam Alert, see how mobsters and a little Ponzi action turned investments for 207 investors in New Jersey into trash — literally. One investor was best-selling author Mary Higgins Clark, who lost $20 million.
