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A lot of people believe that teenagers should not be allowed to use student credit cards. They contend that young people are very irresponsible and reckless when it comes to handling their finances. These people think that students will only fall into a great deal of financial trouble should they be allowed to use and hold on to their very first credit cards. But is this belief correct?

Well, even though students may have the tendency to be careless when it comes to money matters, this does not justify the point that they should not be given their very first credit cards.

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Clockwise from top right: Thyra Zerhusen, David Herro, Susan Byrne, Warren Buffett. (Photograph by Mark Weiss, portrait illustrations by Keith Witmer.)

If the stock markets were a public beach, the red “high hazard” flags might still be flying over the lifeguard’s chair. Or at the very least, a strong yellow. The summer has been calmer than the spring, but not by much, not with the foundering euro and stubborn unemployment at home offering daily reminders that global economic waters are still choppy. And the stock market remains as riptide-prone as ever. According to Schaeffer’s Investment Research, the Dow is on pace to register 90 days this year with swings of 100 points or more—more than twice as many as in any of the three years before the crash. As fund m

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By Jonathan Cheng And Min Zeng

Stocks saw a late surge collapse as investors reassessed Federal Reserve moves to try and support an increasingly wobbly economic recovery.

The Dow Jones Industrial Average finished down 54.50 points, or 0.51%, at 10644.25 after surging after the Fed announcement to erase the majority of its earlier triple-digit loss. Treasurys jumped, while the U.S. dollar plunged, shaving off a day of strong gains.

At the end of their one-day policy meeting, Fed officials said they would reinvest the proceeds from expiring agency debt and mortgage-backed securities into Treasurys, to keep long-term borrowing costs for businesses and consumers low. The U.S.

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