Police in two states are trying to piece together the last 12 hours of slain Brooklyn cafe owner Josh Rubin's life, with Pennsylvania authorities working under the assumption that Rubin was killed elsewhere and dumped in an apple orchard outside of Allentown, while theories about Rubin's alleged money problems and drug ties continue to circulate. more ›

The mystery surrounding the gruesome murder of Brooklyn cafe owner Josh Rubin deepens today, with conflicting stories about whether or not he was in debt when he vanished, and a few more clues about how he may have disappeared. more ›

It's official: the bipartisan Congressional supercommittee charged with coming up with a compromise of budget-cutting (entitlement-slashing) and new revenue (taxes) has failed. Because the twelve lawmakers couldn't even come up with a way to call a press conference, the two chairs released a statement saying they were "unable to bridge the committee's significant differences." But enough of the doom and gloom: check out these AMAZING Black Friday deals! more ›

With college grads facing at least $25,000 in debt after graduation, some prospective students are opting to turn down expensive, prestigious institutions. For instance, there's Daniel Schwartz, who was accepted to Cornell but decided to go to CUNY's Macaulay Honors College: The Wall Street Journal reports, "Mr. Schwartz says his family could have afforded Cornell's tuition, with help from scholarships and loans. But he wants to be a doctor and thinks medical school, which could easily cost upward of $45,000 a year for a private institution, is a more important investment. It wasn't 'worth it to spend $50,000-plus a year for a bachelor's degree,' he says." But isn't it worth $50,000/year to see Vinny at Columbia or to name drop Cornell like the Nard Dog? more ›

Students graduating from college in 2010 had an average debt load of $25,250, up five percent from 2009. And unless they're lucky enough to score a highly-coveted job at a collection agency, chances are these students are unemployed or underemployed. It's bleak! How bleak is it? It's so bleak that college graduates today face the highest unemployment rate in recent history: 9.1%. Good thing a college education is about intellectual enrichment and not just some institutionalized bourgeois method for joining the middle class. more ›

After Standard & Poor's downgraded the United States' credit rating from AAA to AA+, the single largest foreign holder of American debt spoke up. Yes, that would be China (it has, oh, about $1.1 trillion in U.S. debt) —and China was not happy! The country's official news agency Xinhua issued a statement:

China, the largest creditor of the world’s sole superpower, has every right now to demand the United States to address its structural debt problems and ensure the safety of China’s dollar assets... more ›

New Jersey Governor Chris Christie announced plans to take the Obama administration to court to fight repaying the feds $271 million it was given to complete the ARC tunnel project, which Christie cancelled because it was too expensive. Apparently Christie didn't understand Transportation Secretary Ray LaHood when he said, "The law is clear on this matter. After the initial contract was entered into and later expanded at Governor Christie’s request, the state of New Jersey broke the terms." Christie said yesterday, "I ain't paying them. We're going to go to court. We're going before an impartial judge and let the judge decide." Who else read that in a Yosemite Sam voice? more ›

Over the weekend, Transportation Secretary Ray LaHood ordered New Jersey to repay the $271 million (plus interest) they owe the federal government after canceling the Trans-Hudson ARC tunnel project. But Christie isn't budging, saying, “This is about whether that money will stay in New Jersey and be used for road projects in this state, or the federal government so it can go to another state.” New Jersey will be charged $52,000 a week in interest for failing to repay. But if he just ignores the feds they'll go away, right? more ›

We're not going to beat around the bush: we've really missed kooky Buffalo real estate millionaire and failed Gubernatorial candidate Carl Paladino. We've missed the baseball bats, the bestiality porn, the unbridled enthusiasm anger, and most of all, the absurd, ranty e-mails. We were nervous Paladino might retire quietly with dignity, and move to a little home in Florida with his wife, his children, his love child, and his love child's mother. But that's not our Carl! more ›

How much trouble are the Wilpons in? The Mets owners, who were investors in Bernard Madoff's huge multi-billion dollar Ponzi scheme and are being targeted by the trustee trying to recover money for Madoff victims, are trying to sell part of the team to raise some money and now the Post reports that JPMorgan Chase "is trying to recruit other institutions to join a syndicate to put together a new loan that would tide the Mets over until they sell a minority stake in the ballclub." more ›

Hiram Monserrate is many things: An ex-cop, an ex-City Council member, an ex-State Senator, a convicted girlfriend slasher, and a subject of a federal corruption investigation. And now he's a legal bill deadbeat. His defense lawyer, celebrity lawyer Joseph Tacopina, says that Monserrate hasn't paid him anything, so Tacopina is asking that the judge remove him from the federal corruption case or name him Monserrate's court-appointed lawyer, so he at least get something (even if it's just $125/hour, which is a step down from his usual $750/hour fee). more ›

Mayor Bloomberg is dancing on the grave of OTB! Back in 2008, he refused to allow the city to keep supporting OTB, and the shutdown threat was real until Governor Paterson agreed to have the state take over. Yesterday, the mayor said of the now-shutdown betting operation, "OTB did make money, but they demanded 120% of it go to support the racing industry. It's not the city's obligation, thank you very much." The Daily News explains, "The closure put more than 1,000 people out of work and forced the state to assume $100million in OTB debt - and $504 million in pension and benefits for OTB workers." more ›

Mommy blogger Elyssa Stern allegedly offered to pay off a $45K dental bill by publishing a four page glowing review in the Observer's Playground magazine, which she is the editor-in-chief of. According to the Daily News, Stern is now being sued by the dental practice (Lowenberg & Lituchy DDS) after the article never ran, and the bill has remained unpaid. more ›

Ninety-six years ago, Archduke Franz Ferdinand was assassinated in Sarajevo, which precipitated the start of the War to End All Wars, World War I. And today, we can finally put that Great War to rest: Germany paid back the final installment of reparation payments set in 1919's Treaty of Versailles. The Allied victors, particularly Britain, France and America, agreed to an initial sum for war damages, around £132 billion by today's equivalency. Hitler stopped the payments in the 1930's, which helped propel him to power. Germany paid over £60 million today in a bond to erase the debt. Today is also the 20th anniversary of reunification in Germany. Hopefully now they will think twice before starting WWII. more ›

The firefighter who testified against a fellow firefighter who was convicted for operating a marijuana grow house in Queens Village escaped sentencing without any jail time. Matthew Cody, who owned the Bellerose house that Patrick Murray used as a grow house, had been facing five years jail time for his involvement in the marijuana scheme. more ›

And now we know why they shut down. A group of former St. Vincent's employees filed a lawsuit today claiming the hospital lied about their debt because higher-ups were spending millions on themselves. The hospital allegedly spent $104 million on "other" costs, including a $278,000 golf trip. Attorney Thomas D. Shanahan told NY1, "The public deserves better than to hear a hospital was 'bankrupt' under a crushing $1 billion debt, when it seems they had substantial public monies coming in and that the hospital was mismanaged." St. Vincent's hospital closed in April, citing $1 billion in debt. About 3,500 people lost their jobs. more ›

Brooklyn BP Marty Markowitz is not one to pass up a press opportunity—even if it means traveling overseas! The latest financial disclosure forms from the city's Conflicts of Interest Board require city officials to disclose any trip paid for by a non-governmental entity costing over $1,000 for activities related to "official duties with the City." The CIB even has an interactive guide in case officials get confused. So, where did people go? more ›

Actor Bobby Spillane, who fell to his death from the window of his sixth-floor apartment last weekend, reportedly owed money to at least two people at the time of his death. Bobby, the son of notorious Hell's Kitchen gangster Mickey Spillane, had allegedly been leaning on his window (he had recently had shoulder surgery) and calling out to his brother on the street when the window screen gave way. His sister-in-law told the Pioneer Press, "It was 100 percent an accident." more ›

Real Housewife of New Jersey Teresa Guidice is speaking out about her and her husband's filing for bankruptcy, and guess what they're blaming? Those $2,000 in 10 minute shopping sprees The economy! Guidice told People magazine, “What is true is that due to the economy, most of my husband’s real estate ventures failed despite his hard work and effort. As a result, we looked to the Bankruptcy Court for a ‘fresh start.’" more ›

According to bankruptcy papers filed in the Newark federal court, Real Housewife of New Jersey Teresa Giudice and her husband owe nearly $11 million to creditors. Here's just a list of some of the stuff their $79,000/year income didn't pay for: more ›

With the threat of having to pay for student Metrocards looming over public school parents, now they'll have to worry that their kids won't even be able to eat once they get there. The Department of Education, which usually pays for lunch for 73% of the city's public school kids, has send an email to 500 school principals saying they can't afford the bill anymore. Apparently, some kids who aren't eligible for free lunches have been getting away with not paying the $1.50 for a meal, and the DOE says the schools' budgets will be charged for any outstanding fees. more ›

Mayor Bloomberg and the Department of Consumer Affairs Commissioner Jonathan Mintz announced new regulations for debt collectors yesterday in an attempt to prevent New Yorkers from being harassed for debts they do not owe. In a press release, Bloomberg says that debt collectors frequently try to shake down people with the same name as the person on their list, regardless of whether that person actually owes any debt. That's going to be bad news for all the Isabellas in a few years. more ›

The Dow Jones lost nearly 1,000 points (8+%) at one point during trading this afternoon, before recovering a little (the Dow is now down 510 points). CNBC reports, "One trader, on the condition of anonymity, said he heard fixed income desks in Europe shut down early because there was no liquidity — basically European banks are halting lending right now. 'This is similar to what took place pre-Lehman Brothers,' the trader said." The Wall Street Journal says, "Investors fled everything from stocks and risky bonds and poured money into safe assets such as U.S. Treasurys... 'It's getting pretty ugly out there very fast,' Guy Lebas, chief fixed income strategist at Janney Montgomery Scott. 'There are definitely some major concerns that are escalating this afternoon.'" more ›

Stock markets around the world are "slumping" and "jittery" over worries about European debt, led by Greece's problems. Riots in Greece have left three dead after a fire bomb was set in an Athens bank. Protesters, who have thrown rocks and Molotov cocktails at parliamentary buildings, are upset with the government's measures to "contain Greece's spiraling debt." The austerity measures include freezing wages and higher taxes. more ›

Bronx Supreme Court Justice George Villegas may end up losing his seat if accusations of gambling and unpaid debts are true. Law-school classmate Janet Cohen is suing Villegas for borrowing $500,000 to allegedly pay off loan sharks. Legal ethics expert Monroe Freedman told the Post, "If a judge is involved with organized crime, I would be very concerned. It may be reason to remove him from the bench," but you don't need an ethics expert to figure that one out. more ›

If Lindsay Lohan doesn't get her big payout from E-Trade—whom she is suing for $100MM after claiming they parodied her partying lifestyle in a commercial—she may be in some big trouble with creditors. According to RadarOnline, the fallen starlet (whose last film went straight to DVD!) has racked up half a million bucks in debt. A source told the site, "One card cut her off last week and it's only a matter of time before all her other credit cards cut her off too." They note that she's only getting paid $5-10K for appearance now (that's less than Snooki!), and that she was also behind on her rent recently. Despite all this, she hasn't seemed to cut back on her spending. Maybe she has a plan? more ›

Brooklyn Rep. Yvette Clarke is a pretty big spender when it comes to her donors. Unfortunately, they didn't donate enough for her to spend! The congresswoman is allegedly $28,200 in debt after treating her donors to see "Fela" and Jay-Z, which cost her nearly $10,000. Her campaign was also fined $16,275 for 217 illegally placed posters. Clarke has raised just $54,000 in the first quarter of the year. Alternately . Rep. Carolyn Maloney has over $2 million in her reserves. But did her donors get to bask in the majesty that is the HOV? We think not. more ›