When it comes to getting ahead in the world, a lack of savings can be a big hurdle, especially for low-income families. Most don't have enough money set aside for emergencies, let alone for college or a house. Some people think the answer is to make savings more fun, like the lottery, with the chance to win big prizes.
It's called prize-linked savings, something that's been available in Great Britain for decades. Now, it's starting to catch on in the United States.
Originally published on Mon March 10, 2014 6:16 pm
A vast and long-running federal investigation has now implicated D.C. Mayor Vincent Gray.
Businessman Jeffrey Thompson pleaded guilty to conspiracy, admitting that he funneled more than $2 million into illegal campaign contributions, including hundreds of thousands of dollars to a shadow campaign to help elect the Democratic mayor.
But the bombshell is that Thompson says Gray knew about the secret and illegal effort to help his cause.