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Who Wins, Who Loses Under Proposed Bailout Plan?

WASHINGTON — The proposal to bail out U.S. financial markets to the tune of up to $700 billion creates a lot of potential short-term winners, ... winners, too, if the bailout works as intended: anyone soon trying to borrow money _ for cars, student loans, even to open new credit card accounts. Top executives at troubled financial institutions [more...]

Date: 2008-09-28 23:35:52

Blog posts (458) | Videos (103)
 


I'm still mad about the economy-especially Michigan's

----- Original Message ----- From: Senator Debbie Stabenow Sent: Friday, December 19, 2008 7:04 PM Subject: Auto Bridge Loans "Last week . ... . I am pleased that they have taken action to provide the necessary bridge-loan to help our automakers through this global credit crisis, and preserve jobs here at home. While today's actions may [more...]

Date: 2008-12-22 21:31:17


The Current Financial Crisis

You know, I’ve spent pretty much every waking minute for the last week trying to figure out what happened, why it happened, ... and Freddie were required by law, for entirely noble reasons, to make riskier home loans. The bad ... lots of cash, and couldn’t get it. this led to a “freeze up” of credit among banks, which [more...]

Date: 2008-09-25 22:45:54


The Great Unwind

flickr (TW Collins) In “The Arabian Nights,” the beautiful princess Scheherazade buys one day of life at a time by recounting fantastic fables that ... diminishes the capacity for further credit creation in the future. The second phase of the cure is the higher cost and lower availability of credit. This forces corporations to sell assets, reduce [more...]

Date: 2008-10-10 10:00:06


Bill Heard Goes Down

As you may have heard, Bill Heard just filed for bankruptcy protection. Who is Bill Heard? The details: Bill Heard Enterprises Inc., the largest U.S ... like he took on too many bad loans: Industry analysts say, Heard couldn’t overcome what had become a flaw in his business model: high-volume but low-profit sales targeting people with blemished credit [more...]

Date: 2008-09-29 18:30:22


A Hint Of The Nightmare To Come

It’s Friday desk clearing time for this blogger. “For four years the Neal family called a two-family house in New Haven, home ... that really hurts people. We’ve had a lot of people say ‘We love the house,’’ but they just can’t find ... trying to sell her home. ‘It’s hard to find people who can get financing,’ said Moore. ‘It’s getting [more...]

Date: 2008-10-31 21:25:41


Help! Poor Black People Are Stealing the Election from Rich White Guys

By Lloyd Hart You may have noticed over the last week the word acorn or to be more exact A.C.O.R.N ... bought all those bad loans (and have an automatic government rescue program to their charters ... practices in minority neighborhoods - a deliberate practice of banks not providing equal access to credit [more...]

Date: 2008-10-11 21:55:03


Helping to Explain the Bailout Issue to Jittery Clients/Consumers

by: Chris Galler, COO - Minnesota Association of REALTORS Most of the consumers you talk with will not have a good handle - I am not sure anyone does yet - of the nature of the credit problem. In this short article, I hope to give you at least ... and now holds in their portfolio is reported as a bad investment because the value of the asset [more...]

Date: 2008-10-01 17:06:08


Are greedy wolves making government-insured mortgages?

Now that subprime is a dirty word and Wall Street firms are no longer making securities backed by loans to people with low credit scores, brokers and bankers are filling the void with a little help from Uncle Sam. They are making loans ... FHA, which is meant to expand credit to folks of modest means? John Courson, president of industry [more...]

Date: 2009-01-15 11:00:45


Feeling A Bit Of Deja Vu

It’s Friday desk clearing time for this blogger. “Gresham and its working-class neighboring cities have caught more than their share of the housing pain. On the north end of Main, real estate broker Darren O’Halloran’s sign hangs in front of a vacant lot. O’Halloran bought the plot with a partner and hoped to resell it for a profit [more...]

Date: 2008-09-26 19:21:04


Mortgage Refinance – Tips and Ideas to Help You Apply For Mortgage

Mortgage refinance is one of the best ways to save money and increase savings. Doing your homework in terms of research will definitely help you to avoid the hidden cost and other expenditures. It not only lowers the monthly payment as the interest rate drops but also shortens the tenure of the loan period which is anytime beneficial to clear the debt as soon as possible. [more...]

Date: 2009-09-29 18:16:17


Six Simple Steps to Avoid Credit Problems in a Bad Economy

The New York Times ran a story today that says the next consumer crisis is credit cards — a sobering fact in a nation that has racked up massive amounts of credit card debt. Unfortunately, when times get hard, many people turn to credit cards ... this myself, buying things on credit when I had no other way to pay for them. I’m not talking about [more...]

Date: 2008-10-29 23:20:31


Homeowners come up empty in bailout

For people facing foreclosure — and for the housing and community development groups trying to help them — there’s been little to ... loans didn’t make it in the final version. Nor did a proposal to set aside for affordable housing ... are to blame. It doesn’t get any better from there. The credit crisis is likely to make it even [more...]

Date: 2008-10-09 12:05:41


Who caused “the biggest financial crisis since the Great Depression?”

Powerline links to a video that answers this question with admirable clarity. I’ll link to the video below ... a premium in order to obtain a mortgage (if they could obtain one at all) because a) they had bad or non ... Not 100% accurate, perhaps–it’s really a credit crisis–but close enough for government work [more...]

Date: 2008-09-29 14:53:25


Get Money Quickly With Online Payday Advances

by Rose Martin Payday advances have helped millions of people get the cash that they need in a small amount of time. When people are looking to get something in a hurry, the typically tend to turn to the internet. Especially if you need money in a rush, you should make sure that you get online to get an advance first. Here are the ways that you too can benefit from a payday advance. The money that you get from a loan company needs to be paid within about two week’s time. [more...]

Date: 2009-09-29 20:53:06


Should You Walk Away From Your Home?

(source) Despite the struggle, most responsible homeowners don’t think twice about whether they should make the mortgage payment each month ... back from bad credit and don’t want to let your credit score sink again. Whether you choose to fight ... a shot at a loan modification, when you can just take the “Free Housing For Six Months Package” [more...]

Date: 2008-12-03 22:29:29


Lectures on Macroeconomics, No. 11

This lecture discusses what I think of as the Leijonhufvud interpretation of macroeconomics as an attempt to characterize an economy that is far ... of food production to land is fixed, you will predict that soon we will see people starving ... become scarce, would people not be able to create money substitutes? In practice, that sort of thing [more...]

Date: 2008-12-24 20:23:08


Credit Card Lenders Clamp Down Hard

Consumers are in a newly austere mood, and those who have lived beyond or at the edge of their means may be forced to retrench whether they want to ... wrote off an estimated $21 billion in bad credit card loans in the first half of 2008 ... , some can come back to haunt consumers. The result can be a lower credit score, which forces a borrower [more...]

Date: 2008-10-29 03:50:36


AEI Subprime IV.3: Roubini Presentation

Here is Housing Doom’s third installment of our unauthorized annotated transcript of the American Enterprise Institute’s September 30, 2008 seminar " ... in terms of output contraction are not going to be as bad as the Great Depression because ... there much more generalized asset bubble and credit bubble in the economy. It was subprime, it was near [more...]

Date: 2008-11-17 07:01:46


Monday morning links

TOP STORIES Fed, Treasury revamp AIG support - MarketWatch China Unveils Sweeping Plan for Economy - NY Times Fed Defies Transparency Aim in Refusal ... For U.S. Banks - Washington Post Why banks are boosting credit card interest rates - USA Today Bear Stearns ... a bigger boom imply a bigger bust? - CFR How Low, How Bad, How Long? - Hussman Funds Laying [more...]

Date: 2008-11-10 14:24:06


Would the Last Honest Reporter Please Turn on the Lights?

An open letter to the local daily paper — almost every local daily paper in America: I remember reading All the President’s Men and thinking: ... , but when they can’t make the payments, they lose the house — along with their credit rating. They end up worse ... loan?  It’s a loan that the recipient is likely not to be able to repay. The goal of this [more...]

Date: 2008-10-31 05:00:52


Where Are We Today? A 10-Item News Roundup

It’s almost impossible to follow everything that’s going on in the economy these days ... . 10. Stuck in a bad economy, some Latin American immigrants are turning around and going back home. ... their money in U.S. Treasury bills instead of extending credit to one another or to stretched customers [more...]

Date: 2008-10-02 15:00:42


Bush: 'Entire economy is in danger'

by Mark Silva President Bush, delivering a nationally televised appeal for an unprecedented federal buyout of $700 billion in bad mortgage debts, ... be more difficult for you to get the loans you need to buy a car or send your children to college ... , you would find it harder and more expensive to get credit. More businesses would close their doors [more...]

Date: 2008-09-25 02:13:56


The Poverty Business

Sorry if this appears to be an older article, and not latest headlines, just thought it was interesting - loki The Poverty Business Inside U.S ... into Byrider, Tsosie drove off, jubilant, in a 1999 Saturn subcompact she bought entirely on credit ... access to credit has put cars, computers, credit cards, and even homes within reach for many [more...]

Date: 2009-01-15 00:45:24


Consumers' New Found Embrace of Savings Will Make for a Nasty Downturn

The blow to many Americans' net worth via diminished home values and shrunken retirement accounts has lead to a new found insecurity and ... by credit card companies, banks, and auto lenders getting more stringent and, where applicable, cutting back on credit lines. Thus, consumers suddenly (at least for now) want to be savers (note [more...]

Date: 2008-10-21 04:06:27


Who’s To Blame for Tech’s Woes? You and Me

The last time technology investments took a hit, it was easy to look around at the scattered sock puppets and dark fiber, ... t their wholehearted embrace of the web — it’s consumers’ wholehearted embrace of credit. That’s right, this tech ... debt, in the form of home equity loans and credit financing, which they’ve used to buy fancier cars [more...]

Date: 2008-10-31 04:01:17


Bad Credit Home Loans – Unemployed and Need Money Help?

Bad credit home loans are something that have gained in popularity since the beginning of the recession.  Many borrowers who once had good credit now have bad credit.  Some of these borrowers are unemployed and need money help.  Unfortunately these hard working Americans have been put in a tough situation that is sometimes hard to get out of.  Luckily for them there are companies out there who will help paying or getting a bad credit home loan. [more...]

Date: 2009-09-29 17:22:22


Indian Secularism: A status report by Shah Abdul Halim

Technorati Tags: India,Bharat,Indian secularism,Hindu religious bigotry,Muslims پاکستاان لیجر | PAKISTAN LEDGER | پاکستاني کھاتا  |Sept. 25th, 08 | Moin Ansari |  معین آنصآرّی |   State of Indian Secularism Shah Abdul Halim I am a Muslim, I cannot help my tears; I have gone through fifty nine long years, Suffering pangs of hunger, [more...]

Date: 2008-10-09 03:19:03


The First To Fall And The Last To Rise

The Manteca Bulletin reports from California. “In the go-go days of stratospheric housing price increases some newer neighborhoods - such as Woodward Park, Diamond Oaks, and Villa Ticino - were seeing prices jump as much as $5,000 a month. Now those neighborhoods have returned back to earth as closed deals so far this month signal that banks are [more...]

Date: 2008-10-11 18:59:11


It’s Your Money

It was, anyway. Remember when you had some? Dow plummets on opening, Wall Street rout drags everyone else down. Look on the bright side ... the credit markets more quickly via capital infusions from the Paulson facility. And unlike the Paulson ... that the Treasury could receive some kind of equity kicker in the refinance. Thus a homeowner [more...]

Date: 2008-10-10 13:45:35


Hank Williams Jr. sings McCain's praise

by Frank James Country star Hank Williams Jr. has penned a tune for Sen. John McCain and Gov. Sarah Palin callled "McCain-Palin Tradition ... Fannie Mae N Freddie Mac Just like 1, 2, 3 The bankers didn't want to make all those bad loans ... , that the Democrats caused the financial meltdown by pressuring bankers to give loans to helpless bankers [more...]

Date: 2008-10-14 12:37:42


Bail Me, Stimulate Me

In a week that signaled much worse is coming, perhaps the more dismal indication on the financial front was that Democrats finally had a chance to ... the kind of behavior that got us here: more bad loans to the wrong people won't en our crisis; they make ... . If that sounds bad, it shouldn't; this week's debate on TARP had essentially the same contours [more...]

Date: 2009-01-16 20:24:10


Recession? Depression? How Deep, How Far and What Can Be Done?

By Joshua Holland, AlterNet. Posted October 11, 2008. A survey of what some of the best thinkers believe we’re facing in the coming months and years — and the best ways to prevent complete disaster. As the financial crisis gains steam, moving from overextended American households to global banking giants, fear of a major crash is spreading [more...]

Date: 2008-10-12 14:39:21


Snoozer’s Jolt

The debate was a snooze that changed little. Except maybe one thing. McCain trotted out his proposal to have the government get in the corner of people with bad mortgages, and renegotiate to keep them in their houses. While the pointy-headed media types are working themselves into a lather over “that one, [more...]

Date: 2008-10-08 14:04:01


The Bailout Busts - What’s Next for Americans

Lord, have mercy. I look at the news in the morning and am shocked & appalled only to receive some fresh, ... in their largest one-day point drop ever. Credit markets, whose turmoil helped feed the stock market’s angst, froze up further amid the growing belief that the country is headed into a spreading credit [more...]

Date: 2008-09-29 23:41:12


Busting the Ghosts of Hope

Expectations for Barack Obama’s presidency have continued to soar since his historic election. Millions believe change is possible. But what kind of change? And to whose benefit? Our country and our world are in crisis, and the tepid, incremental reforms Obama has been emphasizing aren’t going to cut it. It’s time to think outside the box [more...]

Date: 2009-01-16 16:44:52


Mitt Romney's Stimulus Plan

Now that President Bush has sold-out the free market to the UAW, by giving GM and Chrysler loans without any restrictions, ... and home values have plummeted. This translates into about $400 billion less annual consumer spending ... either, as bank loans and secondary-market financing have shrunk and as fresh equity is virtually [more...]

Date: 2008-12-19 14:33:00


Bush’s Speech On The Bailout Tonight

Reprinted in full… THE PRESIDENT: Good evening. This is an extraordinary period for America’s economy ... . As uncertainty has grown, many banks have restricted lending. Credit markets have frozen. And families ... credit. As a result, our entire economy is in danger. So I’ve proposed that the federal government [more...]

Date: 2008-09-25 02:38:52


When Watchdogs Snore: How ABC, CBS and NBC Ignored Fannie & Freddie

The two mortgage giants Freddie Mac and Fannie Mae — seized by the government September 7 before they went completely bankrupt, at a potential cost to taxpayers of more than $25 billion — have been in obvious trouble for much of the past five years — with criminal investigations, accounting scandals, firings, resignations, [more...]

Date: 2008-09-25 21:05:52


From Bad To Worse To Horrible To Holy Crap!

It’s Friday desk clearing time for this blogger. “After years of making Canadians feel steadily richer, ... said even more cases are coming as banks take bad loans off their books. ‘That’s when we’ll see why these loans went so bad, and there will be criminal investigations,’ said Curt Novy, a California [more...]

Date: 2008-11-14 20:26:25


Meet a self-described “bank terrorist”

Revolting (h/t: Moonbattery): Bruce Marks, founder of the leftist Neighborhood Assistance Corp ... “easy lending.” Listen to NACA’s pitch: “Come to NACA, and regardless of how bad your credit ... , while increasing the number of mortgages it restructures by lowering interest rates and extending loan [more...]

Date: 2008-11-20 23:53:27


Emotional, financial and legal advice on surviving redundancy

Keep calm Remember you're not alone Redundancy can be a devastating, sometimes brutal, experience but it's not your fault ... the credit crunch in your own backyard," says Phillip Hodson, a fellow of the British Association ... way as due to the western economic cycle, the bastard in charge of hiring and firing, or bad luck [more...]

Date: 2009-01-08 14:45:20


Painful eyes

A lot of emails come my way every 24 hours. Some stand out. Like this one. Not just that she’s a realtor who likes me ( ... to holding mortgage and credit card debt to the tune of 75 Billion, they say well that’s normal that’ ... citizens have become. Not just because she now laments the influence of cheap credit and easy money [more...]

Date: 2009-01-17 03:17:13


Parallels

Op-Ed: The Second Great Depression? Minyanville Staff Oct 06, 2008 2:45 pm This country has been living in false prosperity since the early 1980s: ... recent flow of funds data shows that total credit market debt is $51 trillion; our GDP is $14.3 ... by the Federal Reserve in the 1920s, leading to an unsustainable credit driven boom. Both Friedrich [more...]

Date: 2008-10-10 19:17:30


News and Blogs: Wednesday, November 19, 2008

5 Money Mistakes in a Bad Economy. Here are the mistakes: continuing to use credit cards, withdrawing or taking a loan from your retirement funds, paying for college without loans, grants, or scholarships, neglecting to invest, and taking home-equity loans. Bid to Ban Sale of Obama Tickets. Tickets to presidential inaugurations have always [more...]

Date: 2008-11-19 18:00:30


Stocking Stuffer

Not a creature was stirring, not even a mouse… With the Federal Reserve cutting bank lending rates to near zero, ... up with a lot of what makes America both good and bad, modern and in debt. A friend told the story ... interest and never pays off the loan. That way, when the value of the house goes up, they can flip [more...]

Date: 2008-12-18 18:47:31


Creative Financing In Large Real Estate Transactions

I have a friend who has fallen on hard times, and he owns home that is (was) ... the valuations have fallen so far. Use Your IRA To Help Reduce Your Mortgage Balance The first thing ... collateral that they can borrow against. In the case of somebody who is trying to finance (or refinance [more...]

Date: 2008-10-10 12:38:03


The U.S. Government Lie: $700 Billion Bailout

When the U.S. government begins renaming terrible things like killing civilians with misplaced bombs “collateral damage, ... -gook but rather adopts it, we’re in bigger trouble. The de-sensitizing has begun. Tonight I got home ... how many bad assets are out there. We know what mortgages are bad – we don’t know how many other [more...]

Date: 2008-10-17 00:27:05


The Home That Was To Be Their Nest Egg

ABC 7 News reports from California. “Monday was just another day at Marsh Creek Elementary in Brentwood. School keeps kids focused on things other than the housing slump which has devastated this community. Just a few miles away is the City of Oakley where 620 homes so far this year have been lost to foreclosure [more...]

Date: 2008-12-03 18:28:57


Housing Bubble Death Trap

(This blast from the past originally appeared June 7th 2006, and it wasn't my first such article. It's still relevant, though. Keep in mind that San Diego has been on the bleeding edge of all of this, so we're likely to start our turn around sooner as well) The title was the wording of a search engine hit I got [more...]

Date: 2008-11-15 16:43:52



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