Brazzers says no credit card information was leaked.

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Hacker Takes Down Porn Site

Low income families with parents in part-time work could lose about £4,000 a year because of a change in tax credits, Labour says.

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Tax change ‘to cost families £4k’

Facebook took its first steps toward going public this week, and observers think its valuation might be as much as $100 billion. Mark Zuckerberg, its founder, owns 28 percent of the company, so that would instantly making him one of the 10 or 15 richest individuals in America. In this essay from October, 2010, I considered how much credit Zuckerberg deserves for social networking phenomenon that has led to his incredible success. Read full article > >

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Repost: Did social networking need Facebook?

Some banks, using credit-default swaps, are more hedged than others against the possibility of a debt cascade in Europe.

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DealBook: U.S. Banks Tally Their Exposure to Europe’s Debt Maelstrom

Credit-default swaps limit their exposure.

Original post:
U.S. Banks Ready for European Defaults

Creditors will accept additional losses.

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Greece Inches Toward Debt Deal

Firms face raids and fines of up to £500,000 for sending unsolicited text messages about credit or compensation.

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Fines threat for credit messages

Greece could reach a deal with its creditors over the weekend, according to the EU’s Economic Commissioner, Olli Rehn.

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Greece debt talks ‘close to deal’

The global economy is slowing sharply and is at far greater risk of recession than was thought just months ago with Europe’s debt crisis creating “fertile ground” for a rapid collapse, the International Monetary Fund warned on Tuesday. Read full article > >

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IMF sees rising recession risk from euro credit crisis

F.   SCOTT FITZGERALD is credited with saying that there are “no second acts in American life.” Given his druthers, Mitt Romney would turn that misguided vision into policy. During Monday’s GOP presidential debate, Mr. Romney at times smugly touted his belief that the voting rights of defendants convicted of violent crimes should not be restored — even if they have served the requisite time behind bars and stayed on the right side of the law after release. “I’m not letting felons who had committed violent crimes to vote,” Mr. Romney said. “I think it’s a position that’s reasonable, and that’s the position I’ve got.” Read full article > >

Excerpt from:
Editorial Board: Mitt Romney’s unjust position on voting rights

Gets $950M credit lifeline.

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Kodak Files Chapter 11 Bankruptcy

Following Friday’s euro-zone credit-rating cuts.

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S&P Downgrades Europe’s Bailout Fund

Based on some recent previews, President Obama’s State of the Union address next Tuesday will aim for the tricky balance of claiming credit for promises he has kept while tacitly acknowledging that he needs to do a lot more. Read full article > >

Excerpt from:
Obama hopes to strike balance in State of Union address

The credit ratings agency Standard & Poor’s (S&P) downgrades the EU bailout fund, the EFSF, to AA+ from AAA.

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S&P downgrades EU’s bailout fund

Ratings agency Moody’s is maintaining France’s top AAA credit rating for now, three days after it was downgraded by another agency.

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Moody’s keeps French AAA rating