More than 60 percent of Nevadans are one step away from economic ruin, according to the Corporation for Enterprise Development. We have some of the lowest rates of saving and the highest rates of debt in the country.
A number of local and regional banks have gone bankrupt over the last three years. Most were heavily over-invested in commercial real estate - warehouses, offices and strip malls that are mostly vacant and producing no income to pay off the loans.
Credit card limits are being cut and interest rates are rising - even if
you think you've got good credit. Washington Post Personal Finance Columnist
Michelle Singletary joins us to explain what is happening and what you can
do about it.