Mitt Romney Has Some Money Advice For Young Folks: Borrow From Your Parents

He sure knows how to appeal to the youth! Wealthy youth, that is.

A video is circulating today of Mitt Romney giving some useful entrepreneurial advice to the young people of our country and one part of his tips is about, of course, money.

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Christians And Jews Partake In Holiday Celebrations; Lottery Winner Comes Forward in Kansas; Tugboat Capsizes Near Liberty Island

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via
Both Christians and Jews are observing holy days over the weekend. Cardinal Timothy Dolan participated in the Good Friday Way of the Cross procession across the Brooklyn Bridge yesterday. The march began after a ceremony at Brooklyn's Cathedral Basilica of St. James. Today he will be at the Church of St. Stanislaus on East Seventh St. for the blessing of the food for Easter Sunday breakfast. In Texas new New York Jet Tim Tebow will deliver a sermon on Easter Sunday. Meanwhile Seders took place across the city -- even at Madison Square Garden -- Friday night as the Jewish holiday of Passover began at sundown. Passover lasts for eight days. [NYDN, NYT, NY1 ]

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Mega Millions Winners Sold In Illinois, Kansas and Maryland; Olbermann Fired, Replaced by Spitzer; State Budget Approved

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You probably didn't win the $640 million Mega Millions jackpot -- the chance of winning was 1 in 176 million -- but the money will be divided up by at least three people. Lottery officials said winning tickets were sold in Illinois, Kansas and Maryland. In New York, 17 people will get a second-prize of $250,000 each. And the lucky numbers? Those were 02-04-23-38-46 with a Mega Ball of 23. People around the country collectively spent about $1.5 billion for a chance to get their hands on the winnings. [CBS New York, NYDN]

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State Democrats Will Propose Minimum Wage Raise Today

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Fast food workers and retail employees everywhere -- rejoice! Democrats in Albany, led by Assembly Speaker Sheldon Silver, will today propose a raise in the New York state minimum wage, from $7.25 an hour to $8.50. The proposal will also include a provision mandating automatic increases in the future based on inflation. The last time the state assembly voted to raise the minimum wage was eight years ago, so this is perhaps a bit overdue.

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Lots of Free ATMs Coming to NYC?

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A consistently annoying fact of city life: your bank with its lack of ATM fees is never close enough, but the sidewalks are lined with ATMs that are happy to charge you two or (this happened to us in the East Village recently) three dollars.

CNN Money has an item today on a new company called Free ATMs NYC which will put free ATMs (hence the name) throughout the city. The fine print is that instead of paying the fee you'll have to watch a commercial.

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Ireland's Richest Man Declares Bankruptcy

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via RTE
Sean Quinn, once rated Ireland's richest man with a fortune estimated around €4 billion (about $6 billion), declared bankruptcy yesterday. The Irish Independent reports Quinn told a Belfast court he acquired untenable debts after investing in the failing Anglo Irish Bank. In technical finance terms, Quinn performed what is commonly referred to as a "Reverse George Jefferson."

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Allied Home Mortgage Nailed By Feds For $800 Million Fraud

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In yet more fallout from the ongoing housing crisis, U.S. Attorney Preet Bharara is suing one of the country's largest mortgage brokers for defrauding the public and the federal government to the tune of up to $834 million, which has to be one of the biggest mortgage swindles in history.

Prosecutors claim that Allied Home Mortgage Corp., a subsidiary, CEO Jim Hodge and Executive Vice President Jeanne Stell made reckless loans, ignored federal law and lied repeatedly, court papers show.

"Allied's decade of concealed misconduct has resulted in tens of thousands of default loans, thousands of American homeowners facing eviction and hundreds of millions in loss to the United States," the complaint charges.

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The Creators of 'Occupy George' Speak

Occupy Wall Street is a month old. Everything, it seems, has been occupied, including cities around the world, the hood, and prophylactics. And now, your money (like, your literal money): Occupy George is a project that's putting information about the economy on physical dollar bills, then putting them back in circulation. An example of an Occupy George bill:

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Occupy George

We spoke with to the creators of Occupy George this afternoon. They're two friends in San Francisco who teamed up to start the project about a week and a half ago (and who are also responsible for Deprofiler.com, created in response to Arizona's SB1070 law).

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MTA Debt Downgraded; Could It Be Bad News For Fares?

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Along with its large budget gaps, the MTA also has massive debt. By 2014, debt financing might take up a full 23% of its operating budget. And now Fitch, the smallest of the three ratings agencies, has downgraded that debt -- meaning the MTA might have to pay more for it, meaning you might have to pay more for using the MTA. The press release explaining the downgrade from A+ to A reads, in part:

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Barack Obama and Anna Wintour Hanging Out Tonight; We Imagine Their Conversation

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Barack Obama's in town! This means that a) traffic is going to be a disaster and b) we can write some fan fiction. One of his stops is an expensive dinner hosted by Anna Wintour and Harvey Weinstein -- could you think of a pair more opposite in physicality but more alike in power? -- at Weinstein's place in the West Village.

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