Week Ahead: Fire Everyone and Run!

By The Greek: John McCain could be right, Christopher Cox may deserve firing. However, it seems John may be stopping far short of appropriate blame laying. Banking and housing regulators clearly need to go, and what about the credit rating agencies; they should be separated [more...]

Date: 2008-09-22 09:59:11

Blog posts (73) | Videos (48)
 

Home loan

by Tom Martens Before starting the homeownership or monthly mortgage installment ; ... online home loan calculators on financial or property websites to start working ... your credit history, the better rate youll be offered. If youve done business with a certain bank [more...]

Date: 2009-01-16 14:44:26

So what really happened?

Michael Lewis and David Einhorn have written a devastating analysis in the NYT of why the banking catastrophe happened. It’s a great read. Sample: OUR financial catastrophe, like Bernard Madoff’s pyramid scheme, required all sorts ... its enlightened self-interest. The credit-rating agencies, for instance. Everyone now knows that Moody’ [more...]

Date: 2009-01-04 21:53:27

CDS report: Rate cuts lift mood

Credit markets rallied strongly Thursday morning after the 50 basis point rate cut from the US Federal Reserve, cuts from China and Taiwan and indications from central banks that they would continue to act against recession boosted sentiment across markets. The cost of protecting corporate debt against [more...]

Date: 2008-10-30 12:24:52

Friday morning links

TOP STORIES U.S. Payrolls Fell 84,000; Jobless Rate Jumps to 6 ... differ on inflation outlook - MarketWatch Credit Crunch: The Sequel - US News and World Report Fed's ... bank may need government bailout - MarketWatch The Abuse of Credit, And Why You Care - The Market [more...]

Date: 2008-09-05 13:23:00

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

Swiss National Bank Cut Rates 100 BPS!

Trading Theme returns…  Automakers’ bailout vote today…  Not using all your arrows…  Housing Starts go back to 1959! And Now… Today’s Pfennig! ... into the problems (credit markets and the Fed and Treasury’s response to the crisis), and does a great ... ) we have warned about the consequences of unbridled credit expansion. We argued that artificially low [more...]

Date: 2008-11-20 17:17:19

Thursday Links

Too Big To Fail - “Shares of Bank of America, the largest U.S. bank, were a top drag on the Dow, with a drop of more than 18 percent to $8.35 ... to a report by the U.S. Joint Forces Command on worldwide security threats.” Junk - “Another of the nation’s leading credit rating agencies has downgraded [more...]

Date: 2009-01-15 15:54:50

The Bank Bailouts Are Very Well Intended, But Where Is All The Money Going To Come From?

As every woman who has ever had dealings with a man knows only too well, ... problems raising debt in the deepening credit crisis. According to the FT article the difficulties Austria, which has a triple A credit rating, is facing only serves to highlights the extent [more...]

Date: 2008-10-29 11:34:02

Turning Japanese I really think so

As most of you probably already know, with the "effective" Fed funds rate much closer to zero percent than to the one percent prescribed by the " ... bets that are bound to inflate another asset class eventually. As discussed in this report ... to banks and others to loosen up the credit markets, creating more reserves than it can drain. So to keep [more...]

Date: 2008-11-16 21:20:31

The Lib-Lab-Con Consensus of Economic Folly

The dramatic move by the Bank of England to slash interest rates by a massive 1 ... that the collapse of demand in the British economy caused by the ‘credit crunch’ may precipitate a full ... ) stimulus. With Chancellor Alistair Darling’s Pre-Budget Report due shortly, an extraordinary degree [more...]

Date: 2008-11-11 15:38:07

Credit Crunch Roundup — November 6, 2008

Items of Interest:CNNMoney:UK, Europe central banks cut key rates -- In response to the global economy, ... , and we are by no means out of the woods yet in terms of the credit crisis.----CNNMoney:GM Executive [more...]

Date: 2008-11-06 13:42:00

0% Global Interest Rates Totally Destroys Banking

October 29, 2008 Elaine Meinel Supkis Dear readers of this edition: Typepad stupidly changed their coding. It is very buggy! ... , everyone who pretends to be economic experts marveled at how cheap credit was and how low inflation [more...]

Date: 2008-10-29 15:09:33

Finding Attractive Interest Rates in a Low-Yield Environment

How to Make Money When Interest Rates Are Low Interest rates across the board remain low, ... are what make them so attractive. Whether it’s through your local bank or credit union branch, or via [more...]

Date: 2008-12-22 15:22:40

10% OFFICE VACANCY RATES IN EVERY MAJOR AMERICAN CITY…now building owners are struggling to pay their mortgages

from the NEW YORK TIMES: As Vacant Office Space Grows, So Does Lenders’ Crisis Michael Stravato for The New York Times MainPlace, ... from banks to the credit markets will make that difficult — even for borrowers who are current [more...]

Date: 2009-01-05 07:03:47

Credit Card Laws and Court Rulings–Have They Helped Consumers?

This is a guest post by Bill Hardekopf, CEO of LowCards.com . Congress passed the Credit CARD Act in May but gave issuers and banks almost one year to implement the major provisions of the bill. Since then, issuers did exactly what they threatened to do–raise rates and fees on a broad group of cardholders. Consumers and elected officials are not happy about this, and members of Congress plan to introduce a bill to accelerate the effective date of the bill from February 22, 2010 to December 1, 2009. [more...]

Date: 2009-09-25 19:18:38

Bank of Canada Drops Prime 0.75%

The Bank of Canada surprised most by lowering the overnight target rate by 0.75% to 1.5%. There was talk of as much as 0 ... are beginning to encourage credit flows, although it will take some time before conditions in financial ... profile for core inflation than had been projected at the time of the last Monetary Policy Report [more...]

Date: 2008-12-09 19:15:22

Ripples from Chase. Banks in the news, and not in a good way

Here is a job listing just in time for all those great folks at Chase Chase’s exit from wholesale left brokers searching the rate sheets in their ... up-front fees for application, credit report and appraisal with the thinking being “once a customer writes a check, even for a nominal amount, they are motivated to stay put”. And successful [more...]

Date: 2009-01-15 14:34:13

Mortgage Rates Hitt All-Time 38 Year Lows, Read On...

Just another quick update as I track several sources for mortgage news and rates, this time, notating that mortgage interest rates have hit all-time lows -- that's the lowest in 38 years ... market in January of 2009?  Credit, money, it's not flowing particularly from the banks, since they seem [more...]

Date: 2009-01-17 02:54:20

Pay Option ARMs - The Implosion Is Still Coming Despite Low Rates

Mr Mortgage is a 20-year mortgage banking veteran, specializing in wholesale and correspondent sales and sales/operations management and bringing ... housing, mortgage and credit meltdown’ and company-specific events. He owns and is the primary [more...]

Date: 2008-12-24 14:00:38

Rain City Mortgage Rates

Just a reminder that next Thursday is Thanksgiving and banks will be closed.  Our office will be closed until Monday, December 1, 2008 ... with a mid-low credit score of 720-739, “full doc” purchase with a sales price of $500,000 and a loan ... a mortgage with loan amounts of $417,001-$567,500 by the end of the year, please check [more...]

Date: 2008-11-21 22:37:18

MortgageNewsClips: Is The Fed Done?, Awesome Map, AARP 625k HECM, Banks Hoarding?, Muni Market, Bernanke, Warming Up, Fed High Wire, PMI Report, Ira Has 3

VIDEO: Monetary Policy with Zero Interest Rates: Is the Fed Done? ... stability and the normalization of credit markets,” Bernanke said. Citigroup, which is looking to break ... figure since last May. In another sign of a possible thawing of the credit markets, companies [more...]

Date: 2009-01-16 01:21:57

The SEC And Ratings Agencies: Enabling The Market Meltdown

Michael Lewis and David Einhorn had an op-ed in the NYT on Sunday that is worth reading ... general counsel at Deutsche Bank; and one of his predecessors became a managing director for Credit [more...]

Date: 2009-01-06 14:01:18

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