Commonsense Regulatory Ideas Ignored Prior to Mortgage Meltdown

What continues to bother me about the financial crisis is that so many people saw the warning signs and yet so many others refused to pay attention to the risks. A new AP report reveals the extent to which the Bush administration ... 2006: Regulators told bankers exotic mortgages were often inappropriate for buyers with bad credit [more...]

Date: 2008-12-01 14:25:05

Blog posts (204) | Videos (204)
 

Rates for Friday Afternoon

Mortgage rates are much improved since what I posted last week.  Wednesday and Thursday were rough on the markets as traders braced (and rightly so) for a stinky Jobs Report.  Bad news typically (but not always these days) equals lower rates ... quote below is based on owner occupied with a mid-low credit score of 720-739, “full doc” purchase [more...]

Date: 2008-11-07 21:38:07

Loan Loses Continue To Mount: A Look At FDIC Graphs

You're probably not surprised to hear that loan losses are continuing to mount at financial institutions, but just how bad are things getting? ... paint the grim picture in his blog post below. chart11 More Institutions Report Declining ... for credit losses topped $50 billion for a second consecutive quarter, absorbing one-third [more...]

Date: 2008-11-26 18:36:28

Why Phone Conversations with Bill Collectors is a Bad Idea

A highly trained bill collector knows how to get the most money out of defaulted debtors ... of how I wanted this reflected on my credit report. They would then have to agree with those terms ... . While you are nervously thinking of what to say they are taking notes… updating your credit file [more...]

Date: 2009-01-08 02:36:42

links for 2008-12-14

Causes: Subprime Lending - The Baseline Scenario Why I Think the Multiplier is Large - Arnold Kling Emerging economies: ... - washingtonpost.com The Serious Badness of the 1980's - Twenty-Cent Paradigms Fed Could Remake Credit Card Regulations - washingtonpost.com Report Spotlights Iraq Rebuilding Blunders - NYTimes.com How [more...]

Date: 2008-12-14 08:06:00

McCain’s Economic Non-Plan (Just Do What Bush Did) Is a Disaster

If you think the economy is bad now, just wait, according to the Daytona News-Journal. And if you want to make it unimaginably bad, vote for McCain ... , credit cards, college loans and business investments all become more expensive to finance ... and economic outlook. The report will include grim numbers that aren’t being talked about much [more...]

Date: 2008-09-08 15:06:36

America’s Secret war in Pakistan-MSNBC uncovers Marines with long beards and without uniforms

Technorati Tags: Afghanistan,Pakistan,USA,Under cover,special OPs پاکستاان لیجر | PAKISTAN LEDGER | پاکستاني کھاتا  |Sept ... into Pakistan. This report clearly discusses the good, the bad and the ugly MSNBC: JALALABAD, Afghanistan – ... t receive much attention or credit in the media, but they’re leading America’s secret war inside Pakistan [more...]

Date: 2008-10-09 03:12:35

In times of crisis, the old school tie rules

I hate to say this, but does the media create this gloom and doom in the markets? ... do, and then brace myself for the bad news report which states that the Confederation of British Industry (CBI ... , UK "Until a few weeks ago the credit crunch seemed to happen to other people, but had little [more...]

Date: 2009-01-12 23:37:43

Allied Irish: Too Good to Be True?

Allied Irish Banks PLC (AIB) is Ireland’s largest bank, and in the last two years the company’s shares have been on a relentless march downwards ... has faltered in the global credit crisis. However, as bad as the stock performance has been, AIB still looks ... on equity ((ROE)) of over 15% year after year, with its most recent reporting being over 20 [more...]

Date: 2009-01-14 10:06:31

Boehner Frets About What He Calls Republican "Knuckle-Draggers" Opposing The Bailout

The Bush Regime's Shock Doctrine strategy worked so well for them-- if not for us-- in the run up to the attack on Iraq ... is proceeding under (or around): today's monthly job report: The government is out with more bad economic ... the government conducted its survey during the week of Sept. 8, before the credit crisis took a new [more...]

Date: 2008-10-04 02:19:11

Xmas, Justice and Vince Cable

A short Xmas day post as I don’t want to seem too obsessive. First, thanks to Ben for sending me this fascinating polling report ... their children presents because they had been bad we would consider it almost an act of emotional abuse. Maybe ... to predict and warn against the credit crunch. If there was any justice Vince Cable’s prescience would [more...]

Date: 2008-12-25 11:26:16

Good News For Buyers Is Always Bad News For Sellers

The Desplains Times reports from Illinois. “Last month Dan decided to stop paying his mortgage. It was hard for him ... keep dropping,’ he said. ‘They go down by about $5,000 every month.’” “Dan’s credit score has been reduced from 750 before he purchased his townhouse to about 600 now, but he’s philosophic [more...]

Date: 2008-06-12 14:48:03

More Bad Economic News

(Our economy at sea.) Image credit: Found here.All you have to do is click on the keyword economy off to the left of this article to see what a sorry ... economists estimated, a report by ADP Employer Services said on Wednesday.The data comes two days ahead of the government's more comprehensive non-farm payrolls report, which unlike the ADP numbers [more...]

Date: 2009-01-07 19:48:00

Bush on last visit to Texas ranch as President

Bush on last visit to Texas ranch as President Bloggers Michael Swanberg Minority Report is Here... But So What? ... , The Prettiest Game I've Ever Played Or at least a good start... ...To Their (Bad) Credit [more...]

Date: 2008-12-28 06:41:13

Will Indian Car Maker Be First To Market A Tough, High-Mileage 4WD Pickup In The USA?

Mohindra diesel pickup. Image credit:AutoGreenBlog. India's Mahindra may launch new diesel pickup in U.S. in 2010. New York Times reports that domestic truck sales have plummeted badly. Real bad for auto workers and stockholders. Good for the enironment. Here's why the slump happened and what the win win alternative design might look like. A clip from the Times nails the main factor behind the dramatic fall off in truck sales. Car... Read the full story on TreeHugger [more...]

Date: 2009-10-01 12:33:31

How Bad Will The Bush Depression Be?

It looks like Bush is racing in his final days as occupant of the White House to see if he can beat Herbert Hoover's economic record as the most disastrous U.S. president for American families. Today's employment report puts Bush in good shape ... to the worsening credit crisis. That has put pressure on Congress and the White House to come [more...]

Date: 2008-12-05 20:30:00

The Yen Reeks Havoc on Some of Your Favorite Companies!

Over the years, American’s have really gotten a “thirst” for Japanese products ... of the recession and strong yen. Meanwhile, Honda had its credit rating cut by Fitch from A+ to A. Sony ... . How bad? Well, analysts were expecting a profit of 35 billion yen…instead, they may report a 100 [more...]

Date: 2009-01-15 19:52:35

Bottom feeding, Ollie soon & Freddy Coupon

A few interesting things to end a bad day with..... Jon Heyman was on MLB network tonight during the hot stove report and discussed the Lowe deal ... him". To Heyman's credit when everybody questioned why the Mets should raise their offer [more...]

Date: 2009-01-14 02:58:55

Automakers are expected to report another month of staggering sales declines for December

The good news for the auto industry in December came when General Motors and Chrysler got their federal bailout. The bad news is coming Monday, when . Many analysts are predicting the industry will report ... consumers avoided big purchases, unemployment and home foreclosures rose, and tight credit markets made [more...]

Date: 2009-01-04 01:32:16

Credit Crunch Effects to be Felt for Years: BlackRock’s Fink

While the majority of the financial crisis tied to bad mortgages and esoteric debt structures may be waning, ... to a report published by Reuters on Wednesday. “The worst of the financial market crisis is behind ... with the turmoil have quarters to go, maybe years to go, because of the contraction of credit, the bloated [more...]

Date: 2008-06-13 13:01:03

Consumer Reports Retirement Survey: Planning Ahead May Be Just As Risky As Rewarding

February issue offers 17 moves to rebuild the nest egg and secure the future In the wake of big investment losses many have turned to Plan B to ... their credit card use and spent less on groceries and household goods. “When bad investments happen to good ... . But it proved punishing during the unusually severe market downturn of recent months. The [more...]

Date: 2009-01-06 12:09:04

Chinese banks facing risks from bad loans

China’s lenders may have evaded the worst of the global credit crisis so far, but they are facing plenty of risks of their own, economists with credit agency Fitch Ratings said Friday. A larger-than-expected downturn ... ,” Chu said in a conference call following the release of a report outlining risks for the industry [more...]

Date: 2009-01-16 09:39:30

"McCain Is The Real Health-Care Reformer"

According to the Wall Street Journal,"It's good politics for Mr. Obama. But it's bad policy. Mr. McCain's proposal -- to give every American the tax credit businesses get for buying health ... who get their health insurance at work has been shrinking. In August, the Census Bureau reported [more...]

Date: 2008-10-07 23:21:07

Four at Four: Looking for Cash

Whatever remaining euphoria that existed on expectations for the passage of a mighty bailout package that will cure all bad debts and even ... s not ideal.” Business as usual means looking forward to the jobs report due out in the morning, the lackluster demand for consumer goods, and ongoing credit problems that have reduced borrowing [more...]

Date: 2008-10-02 11:40:00

The retail crash bodes ill for services

This is bad any way you slice it: Retail sales plunged far more than expected in December, a record sixth straight monthly decline as consumers were battered by a recession, a severe credit ... of the housing slowdown continued to seep into the local economy. According to a report Tuesday [more...]

Date: 2009-01-14 15:06:15

Catching the AP in the act: if the news isn't bad enough, they'll rewrite it

Take a look at the original article, which is still on Forbes' right at the moment, but I'm reproducing it here as a screenshot, ... are you doing? We can't report good economic news! At least not just yet, not until Obama has been in office long enough to take credit."Good lord. At least Dan Okrent at least admitted the New York Times [more...]

Date: 2009-01-09 04:15:00

Good Bank, Bad Bank: The Rich Win Again

So let’s see if I understand this brilliant brain fart correctly…Citigroup (C) and Bank of America (BAC) ... . What a fun game.Citigroup Reports $8.3 Billion Loss, Split Into Two Businesses: “Citigroup Inc. posted an $8.29 billion fourth-quarter loss, completing its worst year, as the credit crisis eroded [more...]

Date: 2009-01-16 13:40:00

B of A reports loss, gets more cash

The TARP was phase 1 of the bank bailout: give the banks cash to rebuild their capital ... for credit-losses nearly tripled, while the company showed why it needed further help from the government ... 1: the government is absorbing losses on bad assets themselves.  See Citi’s bailout in late November [more...]

Date: 2009-01-16 15:09:12

Is the 6-month Stock Market Rally About to End?.

by Bob Chapman Global Research October 1, 2009 The G-20 Pittsburg Summit ended last Friday. Their official statements made for some novel and interesting reading. We were informed that the group could by working together could manage a transition to a more balanced pattern of global growth. Tending to domestic demand as private savings increase. It is obvious to us this cannot work. We are seeing increased savings and decreased consumption. The IMF as well agrees with these policies. [more...]

Date: 2009-10-01 17:54:55

Understanding How An Escrow Account Works and If You Should Avoid Them

An escrow account is established by a broker, under the provisions of law, to hold funds on behalf of two or more people until a contract or transaction has been completed.  People are most familiar with escrow accounts in conjunction with their mortgage.  A person’s mortgage lender sets up an escrow account to receive monthly payments from the home buyer which is usually lumped into the mortgage payment and used to pay for obligations such as homeowners’ insurance, property taxes, and assessments. [more...]

Date: 2009-10-01 12:00:44

Most People Think a Rising Housing Market Makes Them Richer

The Daily Reckoning Houses bounce too… Not much happened yesterday. The Dow fell 47 points. The newspapers attributed the reversal to surprisingly low consumer confidence numbers. Apparently, consumers aren’t so sure this crisis is over. As we reported yesterday, they’re saving money…maybe even at an 8% rate. Oil didn’t move yesterday. Neither did gold. The Wall Street Journal reported that markets were reacting to “mixed data.” That is to say, some reports were encouraging. [more...]

Date: 2009-10-01 02:38:40

Most People Think a Rising Housing Market Makes Them Richer

Houses bounce too... Not much happened yesterday. The Dow fell 47 points. The newspapers attributed the reversal to surprisingly low consumer confidence numbers. Apparently, consumers aren't so sure this crisis is over. As we reported yesterday, they're saving money...maybe even at an 8% rate. Oil didn't move yesterday. Neither did gold. The Wall Street Journal reported that markets were reacting to "mixed data." That is to say, some reports were encouraging. Others were not. [more...]

Date: 2009-10-01 01:00:48

Bring Back Your Smile Through Fast Personal Loan

Are we incompetent to encounter your monthly expenses? If nonesuch of income is hidden a complacency of your family, do not be apprehensive. Opt for a quick personal loan and prove a needs of your desired ones.Fast personal loan is categorically written gripping in thoughts a obligatory sequence of income of infancy of a population. It has additionally been termed as a payday loan since a income which we make make use of of to compensate off a loan comes from your personal income. [more...]

Date: 2009-10-01 14:36:09

PERSS ENCOUNTER WITH PM HIGHLIGHTS, DIRE NEED FOR NEW VISION FOR ETHIOPIA - By Genet Mersha

In the wake of his ‘involuntary anointment’ as chief executive of the state and the ruling party, Prime Minister Meles Zenawi has once again shifted to a high gear with a new five-year term securely under his belt. Although his decision was not unexpected, the 360 degrees shift of from the spring, winter, summer and beyond of his oft-expressed decision to quit his job as prime minister has not gone unnoticed. Owing to that, the prime minister has encumbered himself with expectations. [more...]

Date: 2009-10-01 14:45:04

Posts about Obama Health Care Failure as of October 1, 2009

Conference call: Tim Pawlenty and the Freedom First PAC - hotair.com 10/01/2009 We had an opportunity to talk with Minnesota Governor Tim Pawlenty to discuss the launch of his Freedom First PAC.  Pawlenty says that he’s worried that freedom is being corroded by a “tyranny of a creeping bureaucracy.”  Pawlenty wants to re-elevate the principles of freedom and liberty, including an effort to educate people on their value and to impact current policy.  Pawlenty plans a particular effort to [more...]

Date: 2009-10-01 12:59:05

Mortgage Refinance With Bad Credit Options: Reveal All The Hottest Tips Here!

by Asem Eltaher Among the top ten hot topics of 2008-2009 is the relief for homeowner’s high mortgage payments. Foreclosures at an all-time high and many are getting further behind each month creating a large market for mortgage refinance with bad credit. The Mortgage Banker’s Association states the newest information on foreclosures shows the decline is still pacing downward. The percentage of homeowners facing default can rise higher by 2011, if relief is not available. [more...]

Date: 2009-10-01 09:00:20

Mark Turner Russell Edgar: Turners Bar Complaint Response Back to Edgars Comments

There has been a lot of conversation here at Maggie's Notebook about Mark Turner, a man living in the Pensacola, Florida area. At the bottom of this post, you will find links to the background of Mark Turner's case. Today, I want to focus on complaints Mr. Turner made to the Florida Bar. When a citizen feels they have been unjustly treated by the justice system, they can file a "Bar Complaint" with the State's Bar - the organization that generally registers and tracks lawyers in the area. [more...]

Date: 2009-09-30 22:16:00

Mortgage Refinance With Bad Credit: Reveal All The Hidden Secrets Here!

October 1, 2009 | By Asem Eltaher In Finance | by Asem EltaherAmong the top ten hot topics of 2008-2009 is the relief for homeowner’s high mortgage payments. Foreclosures at an all-time high and many are getting further behind each month creating a large market for mortgage refinance with bad credit. The newest data from the Mortgage Bankers Association reveals fewer foreclosures are being reported. Unless there are new strategies for relief the rise could be higher than now by the year 2011. [more...]

Date: 2009-10-01 09:01:06

Get a student car loan at yours suitable budget

Amazon.de Widgets Looking for a dream car is easy task but arranging funds for that can be a tough. Many people will not be able to afford the price for there dream car so for that right kind of financing option are available for them. One must concern or check his financial situation before applying any kind of loan. The borrower must be aware of the monthly payments and must be ready to meet the financial obligations every 6 or 7 years. [more...]

Date: 2009-10-01 12:28:44

What Is Cesi Debt Free?

by Melinda Harni Each of these websites provides extensive information on different aspects of debt: how to get out of debt, control debt, and on matters related to housing counseling. This is significant, keeping in mind the recent economic recession. Together, all three websites provide all-inclusive information, complete with statistics and figures, in keeping with the CESI philosophy of empowering the consumer on financial matters through knowledge. [more...]

Date: 2009-09-30 23:43:05

Find Out How To Repair Your Poor Credit

by Martha Gonzalez For nearly all people in life the major financial purchases like buying a house or a vehicle require credit. Of course, in order to be approved for credit you must have a decent credit score. Life and finances both tend to be less expensive and much easier when you have a good credit score. But what can you do if your credit score is already shot? There are a few steps that you can take to improve and repair your credit. [more...]

Date: 2009-10-01 05:59:50

ISM: September manufacturing data disappoint; market sells off

The September 2009 Manufacturing ISM Report On Business showed the manufacturing sector and economy expanding.  But no matter, the markets wanted more. Equities sold off in a major way today. We’re talking over 200 points on the Dow and 65 points on the Nasdaq. On the other hand, Treasuries rallied and the yield on the 10-year is now down to 3.19%. As I told you selling equities and buying treasuries was a good idea two weeks ago, I think this move has further to run. [more...]

Date: 2009-10-01 21:08:39

How to Replace Bad Financial Habits With Good Ones

This is a guest post from Leo Babauta of Zen Habits. His first book, The Power of Less, was recently published by Hyperion. It was Aristotle who said, “We are what we repeatedly do … Excellence is therefore not an act ... situation? Some ideas: Impulse spending. Overuse of credit cards or other debt. Spending without tracking [more...]

Date: 2009-01-14 13:00:09

King Report: Economic Data Turns South

> For the past two weeks we have been warning that economic data is turning lower. On Wednesday, US beancounters manufactured a better than expected GDP but private economic data appeared that was materially worse than expected. The ADP Employment change for September is -240k; -200k was expected. More importantly, the closely-watched Chgo PMI declined to 46.1, which is below the 50 line of demarcation between growth and contraction. 52 was expected. [more...]

Date: 2009-10-01 19:03:20

Bad Credit Financing On Mortgages: Reveal The Truth Here!

by Asem Eltaher 2009 is the year to refinance since the FEDS brought down rates at the beginning of the year. Pushing rates down to the 5% range and now to 4% making this the best time to apply for relief, especially when you are getting deeper in debt and have impaired your credit. Homeowners can apply for bad credit financing that is helping relieve some of the load. Lenders use experience to solve debts with a mortgage refinancing and personal loans for bad credit. [more...]

Date: 2009-10-01 10:43:45

Another Quasi-Nationalization, House Debuts Obama Stimulus, Russian Resource War Approaches, Prices Fall and More!

by Addison Wiggin & Ian Mathias Congress unleashes remainder of TARP… another $350 billion into the void Treasury wastes no time… Bank of ... and hawing on how “It’ll be different this time,” the rest of the bailout went straight to the Treasury ... and Merrill in less than 12 months. Today we learned Lewis has been pleading with Uncle Sam [more...]

Date: 2009-01-16 20:25:19

Credit Crisis Sequel, Global Bank Bailout, Emerging Markets Still a Buy?, Gas Wars and More!

Ghosts of the fourth quarter haunt global financials… so begins the second act of the credit saga… Even the IMF needs a loan… $150 billion to back ... and notprofitable) segments of the business. Robert Rubin, who among other things helped create this “ ... predicted today. According to Morgan’s report, profits at HSBC will decline “sharply” this year [more...]

Date: 2009-01-16 15:28:24

Bad Credit Financing For Personal Loans: Reveal The Truth Here!

by Asem Eltaher 2009 is the year to refinance since the FEDS brought down rates at the beginning of the year. Pushing rates down to the 5% range and now to 4% making this the best time to apply for relief, especially when you are getting deeper in debt and have impaired your credit. Homeowners can apply for bad credit financing that is helping relieve some of the load. Sub Prime lenders are experienced with mortgage refinancing and personal loans for bad credit. [more...]

Date: 2009-10-01 10:42:17

IMF Report: Good News and Bad News, But Not Much New News

John Lounsbury submits: The IMF has issued its semi-annual report on the world economy this morning. There is some good news and some bad news. There is not a lot of headline news here, but the report is a good compilation of where the world is more than halfway through 2009. I start with lists of some summary items, followed by reviews of items of interesting data in the report. Good News 1. Banking systems have stepped back from the brink of disaster; 2. [more...]

Date: 2009-10-01 02:04:17

Blocking, Tackling & Running: Leveraging a Crisis Into Real Change

There's a fairly well known cartoon of two scientists working out a problem on a chalkboard covered with complex equations and down in the circle is a little circle with the key step inserted in small print - "and then a miracle occurs". Wouldn't it be nice if we could take the same short-cut to fixing the horrendous shopping list of significant [more...]

Date: 2009-01-16 20:07:11

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