| Volume 33 Number 5 |
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The People’s Lawyer’s Tip of the Day
It is illegal in Texas to charge more to someone who pays with a credit card. It is legal, however, to give a discount for cash. This discount is for the savings to the merchant who does not have to pay the fee that the credit card company charges (note: this law does not apply to governmental entities). Click here for more.
12 Emergency Items to Always Keep In Your Car
Have you been stranded in the middle of no-where? Ever been in a rush to get somewhere and your car just couldn't make it? Here is a list of 12 emergency items to always keep in your car. From emergency cables to hazard triangles, find out what you need and why you need it. Click here for more.
Obama Requests $350 Billion in Asset Relief
This week, President-elect Obama made a request through President Bush for the remaining $350 billion in TARP ("Troubled Asset Relief Program") funds. However, after the first half of the bailout received significant public backlash, Senators are vowing to block the request. Eight Republican Senators have announced they will round up support to block the distribution of the remaining funds. In response, President-elect Obama made it known he would veto any resolution designed to block delivery of the remaining money. Is this enough for the incoming President to initiate the second half of the bailout? Click here for more.
Bank of American Positioning for More Federal Aid
In order to help Bank of America with the recent acquisition of Merrill Lynch, the Federal Government is prepared to pledge billions of dollars in additional aid in hopes of stabilizing the banking giant. Merrill Lynch faced significant fourth quarter losses, prompting Bank of America to start talking with the Treasury. After already receiving $25 billion, why does Bank of America need more? Click here for more.
Your Money
Calculate your earnings and more on your Certificate of Deposit. Click here for more.
For the Lawyers
Punitive damages awarded on a 1-1 ratio. The Third Circuit has reduced a punitive damage award, noting that in most cases where the plaintiff wins a "substantial" compensatory award and the damages were purely economic, a 1-1 ratio should apply. Click here for more.