Markets won't Bottom until Banks Stabilize

It should be obvious to most investors that until the financial sector stabilizes and starts to post a meaningful rally, ... in other segments of credit, including revolving credit card and auto loans and now deteriorating ... . As I stated a few days ago, the market will probably not bottom until we see a combination of bad assets [more...]

Date: 2009-01-16 14:12:44

Blog posts (122) | Videos (43)
 

HOUSING PUSH FOR HISPANICS SPAWNS WAVE OF FORECLOSURES

For years, immigrants to the U.S. have viewed buying a home as the ultimate benchmark of success ... loans, which carry high interest rates and are tailored to borrowers with low credit scores or few ... the housing boom. But when these markets began to weaken, bad loans depressed the value of neighboring [more...]

Date: 2009-01-06 13:19:54

Alright, 2009 (Part 1).

I like 2009. 2008 ended with loads of redundancies and 2009 starts with even more redundancy to follow, people are selling off their houses, cars, ... to work; it reminds you how to save your electric & gas bills during this credit crunch period ... us how bad it is and how worse it’ll be…   You know what? I don’t fucking care. I don’t care [more...]

Date: 2009-01-17 23:50:40

On ABC, Dem Barney Frank Rages at 'Distortions' of Chris Cuomo

"Good Morning America" news anchor Chris Cuomo on Tuesday actually challenged liberal House member Barney Frank over how Congress has spent the ... to the working men and women? Why didn't you do that first?" However, Cuomo should be given credit ... attacked, "Mr. Chairman, your title is Chairman of the House Financial Committee. I mean, certainly [more...]

Date: 2009-01-06 22:46:46

Gates of Vienna News Feed 1/8/2009

The latest word is that an agreement with Russia has been reached, and the flow through the gas pipeline will resume.Also, look for the storming of the Israeli consulate in Montreal, as well as other Gaza-inspired violence around the world.Thanks to AA, Abu Elvis, Insubria, JD, Tuan Jim, Vlad Tepes, and all the other tipsters who sent these in [more...]

Date: 2009-01-09 04:49:00

Предсказания Кюнстлера на 2009 - США, Нефть, Геополитика, Путин

Спонсор месяца - #1 RX pharmacy affiliate program!Сайт дня (как попасть) - http://www.business-magazine.ru/There are two realities "out there" now competing for verification among those who think about national affairs and make things happen. The dominant one (let's call it the Status Quo) [more...]

Date: 2009-01-01 07:59:00

Refinancing When You Owe More Than The Home Is Worth

I've been looking around for an answer to this but my searches haven't returned anything useful ... ? Was all the refinance hype only because the markets kept going up? Is this the reason why people who got an bad loan ... to the utter limit for 100% financing could refinance into more favorable loans as their equity picture [more...]

Date: 2009-01-08 09:54:12

Guest Post: Time to Recapitalize Banks Fully

As debate continues over the release of the second half of the Treasury Department’s Troubled Asset Relief Program, ... recapitalizations using government money on October 13th, but largely by massive credit lines from the Federal ... in the payments system (in which letters of credit and the willingness to take counterparty risk [more...]

Date: 2009-01-15 11:47:00

The Endgame

The Endgame Employment Numbers Are Worse Than Posted Aye, Captain, I'm Giving Her All I've Got! Problem #1: Deflation Problem #2: Pushing on a String The Muddle Through Middle Conversations With John Deflation? Stimulus? Deleveraging? Recession? A soft depression? A return to a bull market? With all that is going on, how does it all end up? [more...]

Date: 2009-01-17 21:29:29

Ohio School Funding Has Me Seeing Red Today, Literally

It’s no wonder school funding in Ohio makes folks see red. What I got in my mailbox today, did, literally ... . We’re just trying to get the credit card balance back to zero after Christmas. The Four Horseman ... today from the Ohio Department of Taxation. This bad boy is all orange, red and scary. One minute you’ [more...]

Date: 2009-01-10 20:24:00

Loans - Home Improvement Loan in the UK

Find the value of your property increase? A Home improvement Loan could be the easiest and cheapest way to make improvements to your home. Home Improvement Loan is a fixed-rate mortgage loans require no collateral and must be used for home improvement projects. Home equity loans are looking for individual projects funded home repairs, reconstruction projects, room additions, a pool and more without the development of the equity of their home. [more...]

Date: 2009-09-28 07:39:34

Doom - Part Deux

It's here. Finally. Doom. Doom Part Deux, actually, as the fine folks over there at The Wall Street Journal Online have informed us that the " ... . They don't really know exactly where all the money went and who did what with it. Bad answer ... Rican rum producers$128 million to auto racing tracks$33 million for corporations that operate [more...]

Date: 2009-01-17 08:34:00

WSJ: "Housing Push for Hispanics Spawns Wave of Foreclosures"

From the Wall Street Journal:"Housing Push for Hispanics Spawns Wave of Foreclosures"By SUSAN SCHMIDT and MAURICE TAMMANCalifornia Rep ... with loans that often didn't require down payments, solid credit ratings or documentation of employment ... all congressional districts in percentage of home loans not tailored for prime borrowers. The caucus [more...]

Date: 2009-01-05 04:10:00

Wolf Versus Pettis on US Stimulus, Fiscal Deficit (Not for the Fainthearted)

Martin Wolf has a very good comment in the Financial Times, "Why Obama’s plan is still inadequate and incomplete," which readers might tempted to ignore, since the headline suggests the piece reaches a conventional conclusion: the Obama stimulus plan is too small. That would be a mistake. The Wolf article (as others have done) [more...]

Date: 2009-01-14 15:43:00

More on Good Habits for Success in 2009

“Good Habits”. Lets delve a bit deeper: Constantly evaluate everything you are doing Develop the habit of constant awareness and evaluation.  Always be thinking: is this the best use of my time? Is the best way I could be doing this? Do the most important task of the day first This ties in with your daily goals, [more...]

Date: 2009-01-06 15:55:09

Guest Post: Obama Plan Is Bold, but Not Bold Enough

As details emerge about the incoming Obama administration’s stimulus plans, Peter Boone and Simon Johnson argue that proposals should be even bolder. Boone is chairman of Effective Intervention, a U.K.-based charity, and a research associate at the Centre for Economic Performance, London School of Economics, [more...]

Date: 2009-01-07 09:09:48

Top 10 at 10: MAF warned last year (by Carter); PGC and Jacks Point; Norris attacks Kiwibank; Dilbert

Here are my top 10 links from around the Internet over the last couple of days. My apologies to regular readers disappointed by the non-appearance of the Top 10 at 10 yesterday and today’s late appearance. I was simply swamped with the news, tips and interviews from the Crafar story, where the wider economic and financial implications are now becoming apparent. [more...]

Date: 2009-10-01 00:26:58

Alan Schram: The Story of 2008: What Went Wrong?

The past year has been financially chaotic on a level almost no one alive has ever seen ... in loans from their gracious neighborhood banker. This sounds like very high leverage ... more than 1%. However, suddenly home prices decline nationwide, and 20% of the mortgages default [more...]

Date: 2009-01-12 05:06:35

WSJ: Bank of America to Receive $20 Billion Injection, Support for $118 Billion of Loans

The market's case of nerves this week seems a tad more justified, given that the details of the Bank of America rescue plan are apparently out, Previous press reports suggested the Charlotte bank might need $8 to $10 billion of additional equity to compensate for losses related to the Merrill acquistion. Yes, as Senator Everett Dirksen said [more...]

Date: 2009-01-16 06:21:44

Obama's Brilliant Idea? Spend More Money On The Deadbeats Who Couldn't Pay The Mortgages They Shouldn't Have in The First Place

Great fiscal dem policy to start off a new administration, get or save mortgages for people who are here illegally, or those who have no SS #s, or no jobs, most importantly with no way to pay the present mortgage a second lifeline ... to pouring it towards bad debt after bad debt? I paid off my mortgage per the rules set forth [more...]

Date: 2009-01-15 06:13:00

Banking Industry Sinking Faster Than Government Can Bail?

A useful piece at the Wall Street Journal discusses the poor prospects for the US banking industry, ... and Treasury. The article makes much of recent and almost-certain-to-get-worse bank credit losses ... , are starting to mount. Construction loans were an important business for local and regional banks [more...]

Date: 2008-12-30 06:21:47

2008 Lookback: Surprise, Surprise

It is often said that markets hate uncertainty, but in 2008, one of the few certainties was just that — uncertainty ... sector was trashed in a horrific day that kicked off two-and-a-half months of credit-market turmoil in an already unsteady environment. The IG10 credit default swap index rose by more than 30 basis [more...]

Date: 2008-12-29 15:49:24

2008 Lookback: Surprise, Surprise

It is often said that markets hate uncertainty, but in 2008, one of the few certainties was just that — uncertainty ... sector was trashed in a horrific day that kicked off two-and-a-half months of credit-market turmoil in an already unsteady environment. The IG10 credit default swap index rose by more than 30 basis [more...]

Date: 2008-12-29 18:44:00

Foreclosures in U.S. Rose 81%, Topping 2.3 Million Last Year

Foreclosures in U.S. Rose 81%, Topping 2.3 Million Last Year By Dan LevyJan. 15 (Bloomberg) — U.S ... of California, Berkeley, said in an interview. “The single most important thing is making credit available ... Asset Relief Program to help reduce mortgage payments for people facing foreclosure, Lawrence Summers [more...]

Date: 2009-01-15 16:45:20

CNN's State of the Union transcript

CNN’s State of the Union anchor John King traveled today to a manufacturing factory in Bedford Heights, Ohio, to interview President-elect Barack Obama for an exclusive interview before being sworn in as president on Tuesday, Jan. 20. Full Transcript THIS IS A RUSH FDCH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED [more...]

Date: 2009-01-17 02:08:27

Posts about Tri-State Real Estate (FL, GA and AL) as of January 16, 2009

Foreclosures And The Mortgage Meltdown Continues to Plague America - usreoproperties ... either being foreclosed upon or delinquent. The nation … package aiming to thaw the frozen credit ... 01/16/2009 Toyota is developing a miniature, environmentally friendly car that is powered entirely [more...]

Date: 2009-01-16 14:21:19

Only Tighter Regulation Will Stem this Crisis of Confidence

“I have a funny feeling that we’re not in Kansas, anymore ... as to how we got where we are – not to mention about who and what caused the housing bubble, the credit ... reprise of the Great Depression. All the opinions and bad directions aside, we would not have crashed [more...]

Date: 2009-01-16 15:45:30

Bad bank Big risk

Constructing a Bad Bank to solve the Credit Crunch problem is too difficult in the current volatile situation ... all round the world. Some people think it is a relatively simple matter. They argue that too many bad loans are holding back the banks from lending more money. So why not, they argue, shunt all the bad loans [more...]

Date: 2009-01-17 09:50:50

The Best Gubernatorial Campaign of 2008

The Best Gubernatorial Campaign of 2008 Indiana Gov. Mitch Daniels handily defeated his Democratic opponent despite a tough landscape for incumbent Republicans and the fact that Obama carried the state. (AP Photo/ Indianapolis Star, Frank Espich) Yesterday we started our year-end awards by naming state Sen [more...]

Date: 2008-12-30 15:30:35

The Endgame

The Endgame by John Mauldin January 17, 2009 • Employment Numbers Are Worse Than Posted • Aye, Captain, I’m Giving Her All I’ve Got! • Problem #1: Deflation • Problem #2: Pushing on a String • The Muddle Through Middle • Conversations With John Deflation? Stimulus? Deleveraging? Recession? A soft depression? A return to a bull market? [more...]

Date: 2009-01-18 02:04:12

Tim Wise on Obama’s “victory over white supremacy,” part II: Or, Why Obama won’t do shit for black people (and why there’s shit to be done)

In the previous post, I contested Tim Wise’s argument (or rather his declaration, as he doesn’t really “argue” for the claim) that Obama’s win is a “victory over white supremacy.” I maintained, however, it still holds a “significance” for that struggle. It represents progress and should be applauded as such [more...]

Date: 2009-01-17 19:07:09

Against the Sky 2008 Portfolio Performance

2008 was certainly a difficult year to start a portfolio. The Net Asset Value of the portfolio fell from $100 to $70.32, a decline of 29.7% ... is going to have a bad day. On that day, I planned to try to get some of the stocks I was interested ... ) These are supposed to be the anchors of the portfolio. The performance of these two funds demonstrate how [more...]

Date: 2009-01-17 03:56:26

Obama to the Rescue!

Word on the Street President-elect Barack Obama is going to back a bank-rescue ... avoid foreclosure. The money may also go to help cities and states with “credit issues” … pun ... are advocating a government-backed “bad” or “aggregator” bank to acquire hundreds of billions [more...]

Date: 2009-01-18 02:53:39

Credit Default Swaps and Moral Hazard

In the insurance business, "moral hazard" is famously a problem ... mortgage business) could be either bad or good for the economy, in that it could send signals ... when an Insurance Company had imprudently set up shop in the city."Help me out here if I'm wrong, but don't credit [more...]

Date: 2009-01-02 02:12:00

We’ve Only Just Begun

We’ve Only Just Begun—The Carpenters ... . If a family wants to own a home for stability and security because they have small children ... are paying an hefty price for their own bad timing. Look at what a difference a few years makes. Let [more...]

Date: 2009-01-15 13:32:01

Fazzari on Keynesian Economics

Steve Fazzari, of Washington University in St. Louis, talks with EconTalk host Russ Roberts about Keynesian economics. Fazzari talks about the paradox of thrift, makes the case for a government stimulus plan, and weighs the empirical evidence for a Keynesian worldview. Play Time: 1:05:53 How do I listen to a podcast? [more...]

Date: 2009-01-12 11:29:25

BofA bailout puts Merrill defections in context

Bank of America Corp ... the fray and mostly unscathed by the mortgage meltdown and subsequent credit crisis, having not traded too heavily in toxic mortgage debt and leverage loans. However, by taking on Merrill, which [more...]

Date: 2009-01-16 19:07:07

Trends in Business Credit Cards for 2009

Small business credit card trends The year 2008 was a rotten one for the banking business. What began as a “mortgage crisis” mushroomed into a full-blown, across-the-board “credit crisis.” This has led to banks pulling back on all types of credit, but an even greater pullback [more...]

Date: 2009-01-17 22:38:54

Barney Frank "Flips Out" During An Interview AGAIN !!

If Congressmen got a report card, Barney Frank's would say "does not play nice in the sandbox with the other children" To understand the congressman you must understand that there are two types of people, those who agree with him and and those who distort the facts and are too stupid to understand the truth [more...]

Date: 2009-01-06 23:27:00

Deflation, Deleveraging, and the Stimulus Effect

Forecast 2009: Deflation and Recession January 10, 2009 By John Mauldin Where are we headed in 2009? We will explore that in detail over the next few issues of Thoughts from the Frontline, but today we will start with some of the larger forces which will have a major impact on the economies of the world, [more...]

Date: 2009-01-11 12:32:28

THE FINTAG NEWSLETTER @ 16 January 2009

FINTAG COMMENT Stormy weather. So all you bears out there were getting worried that things were starting to turn and little green shoots were appearing? Well if you had read Billy Liar you would understand that old fashioned liars cannot learn new tricks [more...]

Date: 2009-01-16 05:03:29

Words from the (investment) wise for the week that was (January 12 – 18, 2009)

Investor sentiment around the globe was negatively impacted during 2009’s second full week of trading as a barrage of bleak economic and corporate ... to multi-year lows amid growing concerns that they will battle to cope with increasing credit losses [more...]

Date: 2009-01-18 08:31:29

Constitution Party: ‘The mortgage thieves return’

Reposted at http://www.constitutionparty.com/news.php? ... spectacle of bad actors descending on a government program fat with new money and starved ... to extend an additional $300 billion in loan guarantees, so reports BusinessWeek. The plunderers [more...]

Date: 2009-01-07 18:25:37

Larry King's last Bush chat: Blue shirts, baseball and blind trusts

President George W. Bush is going to wake up in his ranch house back in Texas next Wednesday morning, Jan. 21, as former President George W. Bush. He'll not have an 8 a.m [more...]

Date: 2009-01-14 10:23:02

Is Bank of America the Next “Citi”?

Is Bank of America the Next “Citi”? This morning Bank of America hit a new 52 week low, and traded at its lowest level since 1991 ... enterprises (GSEs), the peak in the housing market, the likelihood of contagion in credit markets, and the weaknesses in the credit rating agencies’ collateralized debt obligation (CDO) assumptions [more...]

Date: 2009-01-15 15:42:49

January Effect for Credit But Not Equities

Good Evening: 2009 has put seven trading days into the books, and it already bears a passing resemblance to the opening days of 2008 ... is not a truth most business models prosper under, so the extension of Friday’s decline in equities [more...]

Date: 2009-01-13 03:49:07

Media Digest 1/16/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, Bank of America will get a huge financial aid package from the government ... the auto industry, airlines, and Amtrak. The Wall Street Journal reports that Microsoft (MSFT) may ... CDOs. The Wall Street Journal reports that credit losses are testing bank reserves. The Wall [more...]

Date: 2009-01-16 09:21:17

TARP: What Did We Get For Our Money?

Remember how, back when Congress was negotiating with the Bush administration over the terms of the bailout, ... that will determine that answer. In terms of Treasury's investment, it seems clear we got a bad deal. TARP [more...]

Date: 2009-01-16 17:34:45

Using Eminent Domain To Acquire Mortgages Would Be Reckless And Dangerous

Just when I think that the bailout plans couldn’t get any wackier, ... is and has been the loan servicer and that servicer’s responsibility to its investors. So many loans ... the fair market value would be about 30-50 percent of the current loan value. NCRC argues, “ [more...]

Date: 2009-01-15 21:52:30

Why So Little Self-Recrimination Among Economists?

Why is it that economics is a Teflon discipline, seemingly unable to admit or recognize its errors? ... and Freddie; Henry Kaufman warned how consumer and companies were confusing access to credit (which [more...]

Date: 2009-01-12 09:21:07

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