Behold Obama’s Economic Stimulus Spending: Weatherizing Poor People’s Homes, More Foodstamps

Oh, and funding for research facilities that will do “cutting edge science.” -$6 billion to weatherize “modest income homes ... bases -$300 million for grants and loans to state and local governments for projects that reduce [more...]

Date: 2009-01-16 02:19:17

Blog posts (115) | Videos (9)
 

Gordon Brown: Step-Skipper

For some months now there’s a being a bit of amnesia about how we got to this point in the global banking crisis ... the government took over the banking system, the dodgy loans therein were dumped into a separate ... for bad assets, now they’ve overpaid for equity.  Banks still aren’t lending.  The queue of banks [more...]

Date: 2009-01-09 03:11:25

Thursday morning links

#fullpost{display:inline;}TOP STORIESRegulators adopt new credit card rules - APTrade-Protection Threat in China, Russia, U.S ... - MarketWatch“The Biggest Bubble Of All . . . U.S. Government Debt” - George Washington BlogMARKETS ... -Funded Downpayment Assistance" Loans - ML-ImplodeRealtors: State home prices have a brutal 2008 - SF [more...]

Date: 2008-12-18 14:13:00

DrumBeat: October 7, 2008

A Gift From the ’70s: Energy Lessons The presidential candidates claim to see America’s energy future, ... the government to approve state loans for refinancing debt, said a spokesman for OAO Lukoil [more...]

Date: 2008-10-07 13:15:04

GM cuts sales forecast, may need more help

General Motors cut its forecast for industrywide U.S. auto sales Thursday, a development that could lead the company to ask for additional loans from the federal government. [more...]

Date: 2009-01-15 19:35:23

Undermining a New Effort to Promote Public Service

Is the U.S. Department of Education deliberately trying to undermine a new program created by Congress to encourage students to pursue careers in ... by consolidating their debt into Direct Lending. The program is a reaction to reports that student ... government will forgive the remaining debt of Direct Student Loan borrowers if they make 120 [more...]

Date: 2008-07-23 18:43:00

Thank you Taxpayer. Sincerely, Merrill Shareholders

From the Wall Street Journal In the end, investors and financial institutions could face as much as $2 trillion of losses from bad U.S ... from commercial real estate, credit cards, auto debt and business debt, and Goldman’s loan-loss estimate ... rescued both Merrill and Countrywide without government assistance. Mr. Lewis had also argued [more...]

Date: 2009-01-15 09:02:01

Things I’d Like to Post About Today ….. (120608, Morning)

….. But I Don’t Have Any Time For: Great quote, from Z. Dwight Billingsley at the St. Louis Post-Dispatch (HT Hot Air) ... there is no way to make these taxpayer loans senior to existing secured debt — meaning the government might [more...]

Date: 2008-12-06 12:06:34

Bailout Math and Implications

In an effort to try to understand the more than $8 trillion guarantee our government has made to bailout our financial mess, ... , AIG Loan, Primary Credit Discount, Asset Backed Commercial Paper Liquidity, Primary Dealers and Others, Bear Stearns Assets, Securities Lending Overnight, Secondary Credit)FEDERAL RESERVE TOTAL [more...]

Date: 2009-01-12 16:24:00

Plugging in: Boston Power Ramps Up in Crowded Battery Pack

Clean Tech Insight’s Jonathan Shieber reports: Both investors and the U.S. government are looking to supercharge the American battery industry ... , the US government is offering at least $7 billion in loans to jumpstart the battery industry starting [more...]

Date: 2009-01-14 19:07:15

Plugging in: Boston Power Ramps Up in Crowded Battery Pack

Clean Tech Insight’s Jonathan Shieber reports: Both investors and the U.S. government are looking to supercharge the American battery industry ... , the US government is offering at least $7 billion in loans to jumpstart the battery industry starting [more...]

Date: 2009-01-14 20:32:00

Plugging in: Boston Power Ramps Up in Crowded Battery Pack

Clean Tech Insight’s Jonathan Shieber reports: Both investors and the U.S. government are looking to supercharge the American battery industry ... , the US government is offering at least $7 billion in loans to jumpstart the battery industry starting [more...]

Date: 2009-01-14 17:33:58

Government Grants

Many people feel that grants are temporary loans. Well, it is not so. Grants means in simple words a favor ... , personal cash, students, research, small business etc. Now, many people are actually not aware about this. I wanted to start a small business and my friend told me to apply for small business grant [more...]

Date: 2009-01-15 15:15:28

Looking For a Loan?

Last week Fannie Mae and Freddie Mac, two of the largest mortgage supporters, ... the Stafford Student Loan, can be used for anything from books to tuition to housing. Rising gas prices make ... about our loan system. Freddie and Fannie were created by the government to make it easier for banks [more...]

Date: 2008-07-21 13:26:00

PM mulls next step to boost loans

The government is considering creating a state-owned "bad bank" as part of plans to stimulate lending. [more...]

Date: 2009-01-16 03:57:22

Obama Tax Cut Plan Is Genius

Remember the first time Barack Obama went on TV and said he was going to cut taxes for 95% of all Americans and we all kind of snickered – even ... , college loans, heating oil from Venezuela, farm subsidies – they aren’t government assistance or types [more...]

Date: 2009-01-13 14:00:29

Saving Sallie Mae?

Sallie Mae continues to weather the widening financial havoc that began by throttling the financial sector and now spreads to ... , despite some contrary rumors, there does not appear to be any student loan crisis. Yet despite ... corporation that in 2004 shed its government sponsored roots that dated to 1972. It provides student [more...]

Date: 2008-11-12 00:37:01

Thursday Snippets

I have to get more in tune with Facebook. I still find that I don’t have enough time ... More Lutz on Saab: The Swedish government has offered funding but in the form of soft loans ... get out your eraser, rub out the pencil marks and write it in ink. The Detroit car companies have withdrawn [more...]

Date: 2009-01-15 00:13:43

Understanding Credit Information And How It Governs Our Everyday Life

When you ask for a student loan, try to get financing for a car or apply for a mortgage, the lender will look at your credit information ... slip into collection or made a settlement offer on a past credit card. By assessing this financial [more...]

Date: 2008-10-28 09:07:06

US Mortgage Crisis: Fannie and Freddie. Give Away the Farm

Dandelion Salad by Dr. Ellen Hodgson Brown Global Research, August 7, 2008 webofdebt ... access to credit. If foreign companies and governments abandon United States investments, home, auto and credit card loans will be much more difficult [more...]

Date: 2008-08-07 18:07:41

The Nanny State Diaries

The Nanny State Diaries From trans fat to plastic grocery bag bans, the media often take the side of the government making decisions for you ... 29, 2008 CBS Slams Payday Loan 'Traps' 'Evening News' ignores borrower responsibility [more...]

Date: 2008-08-21 01:56:33

Charge it

BACK in October, my colleague in Los Angeles wrote, apropos of the government's puchase of a stake in Capital One: ... -Backed Securities Loan Facility, which will lend as much as $200 billion against new or recent vintage asset backed securities collateralized by "student loans, auto loans, credit card loans [more...]

Date: 2008-12-01 20:46:10

COMMENTARY -- Why Bail Out Banks If They Can't Lend Money?

By Matt Towery -- OK, let's get this straight. The banks needed a bailout to keep liquidity from freezing up. I got it ... if the government puts too tight a set of restrictions on banks making loans, or if banks choose just to sit on their cash. [more...]

Date: 2009-01-15 13:35:32

Wall Street Breakfast: Must-Know News

Will $180B do the trick? The world's central banks unveiled an initiative to flood global money markets with dollars, ... with outstanding loans when the music stops. On Wednesday, the cost of insuring U.S. government debt against ... by the need to consolidate to overcome a global credit crunch, and by shares that trade at unprecedented [more...]

Date: 2008-09-18 11:19:52

Bank Of China VP:Govts’ Bailouts Not Solved Roots Of Problem

SHANGHAI (Dow Jones)–Bank of China Ltd. (3988.HK) Vice President Zhu Min said bailout plans by governments around the world to rescue markets ... Rising default risks in industrial loans and consumer credit caused by a recession in the global ... years, we could see more medium- and small-sized banks collapse, a lot of hedge funds [more...]

Date: 2009-01-15 02:37:15

Debt Consolidation with Free Government Grants? One Scam to Avoid

Have you ever seen a commercial or an ad promising “free government grant money? ... can be used for anything, including debt consolidation , student loans, a yacht or just about any ... s doubtful that you’ll find an organization that’s interested in helping you pay off your Mastercard bill [more...]

Date: 2009-01-14 13:23:22

How The Right Amount Of Economic Weakness Can Help A Home Buyer

After a weak holiday shopping season, annual retail sales declined in 2008 ... , countering the inflationary impact of government stimulus and direct intervention. Inflation, you'll ... of a new home loan. For active home buyers or people entering the market this Spring, therefore [more...]

Date: 2009-01-15 16:30:00

How The Right Amount Of Economic Weakness Can Help A Home Buyer

After a weak holiday shopping season, annual retail sales declined in 2008 ... , countering the inflationary impact of government stimulus and direct intervention. Inflation, you'll ... of a new home loan. For active home buyers or people entering the market this Spring, therefore [more...]

Date: 2009-01-15 16:30:00

Beau Friedlander: Why Does Competition Over Green Tech Spur Gore Baiting?

You may have heard about the "Gore-backed" car company that got more than $500 million to make a sports car. What you may have missed: the government is backing green technology and a plan to make it popular. The loan in question (reported by the Wall Street Journal ) is the fourth conditional loan commitment the Department of Energy has entered into under the Advanced Technology Vehicles Manufacturing Loan program. [more...]

Date: 2009-09-28 16:36:47

Sarawak Deputy CM trumpets RM52m Salcra dividend

Sarawak Deputy CM trumpets RM52m Salcra dividend Here’s something that an analyst sent to me. The Sarawak Land Consolidation and Rehabilitation Authority (Salcra) is a government statutory ... mentioned that another RM22 million had been set aside for loan re-payment. So, total net balance, after [more...]

Date: 2008-12-17 06:45:59

BofA Needs to Cut its Dividend

BofA Needs to Cut its Dividend Posted by: Matthew Goldstein on January 15 Bank of America reportedly needs billions of dollars in additional federal ... mortgage-backed securities and ailing consumer loans. In taking over Citi and winding down ... to expend much money—allowing the government to direct more money to banks with healthier balance sheets [more...]

Date: 2009-01-15 13:37:00

Economic Potpourri December 30, 2008

The barrage of noteworthy economic news continues as we head into the new year. Here are a few headline news reports of interest from the past couple days.Japan mulls scheme to buy bad loansJapan's government and central bank are considering a $110 billion scheme to buy bad loans and other financial assets from banks to ease a credit crunch [more...]

Date: 2008-12-31 02:58:00

Wall Street Breakfast: Must-Know News

New acronym on the block... The government unveiled its newest initiative, called TALF, or Term Asset-Backed Securities Loan Facility. The $200B facility will support consumer finance, including student, auto and credit card loans ... Mac (FRE) and the Federal Home Loan Banks. According to the statement released by the Fed [more...]

Date: 2008-11-26 12:14:47

Free Helpful Advice - Can The Hope For Home Ownership Relief Act Really Help Homeowners Avoid Foreclosure?

My take on this bill is that it will be a another government run fiasco ... be at least 31 percent; * They cannot afford their current loan; * They did not intentionally miss ... the new program include: * 30-year, fixed rate mortgage; * Maximum 90 percent loan-to-value ratio [more...]

Date: 2009-01-15 07:36:03

Moral Hazard Revisited…..

One of the important things that Paulson said in the press conference yesterday was that we (the government) ... it?   That’s all that most mortgage lenders really cared about when structuring a loan.   On Wall Street [more...]

Date: 2008-09-08 22:39:28

Maybe The Bailout Worked?

I want to grind my teeth every time I think about the U.S ... that a financial meltdown has been avoided as a direct result of the government’s extraordinary ... shape that it is still hard for some people and businesses to get loans they think they deserve [more...]

Date: 2009-01-14 16:37:35

News Roundup: LIC Raises its Stake in Over 11 Firms

Govt. Allows 100% FDI for Facsimile Editions of Foreign Newspapers - The government has allowed up to 100% foreign direct investment (FDI) ... 150-200 crore of loan repayments. Besides, the company is also looking to reschedule loans due ... banks to restructure loans taken for commercial real estate without turning them in to non-performing [more...]

Date: 2009-01-15 04:27:53

Czech Republic reports slight gas drop amid Russia-Ukraine row

Czech Republic reports slight gas drop amid Russia-Ukraine row Prague - The Czech Republic on Sunday received 5 per cent less gas than ordered ... first 4 billion-dollar loan » EXTRA:Ukraine is sending its own gas to EU states, Kiev says ... 2008 » US government money starts flowing into auto industry » Frankfurt Stock Exchange [more...]

Date: 2009-01-04 16:30:13

Unions welcome jobs action but want more to curb banks

by Chris McLaughlin UNION leaders gave a qualified welcome to the Government’s “bold and pro-active” jobs initiatives this week but called on ... a £20 billion loan guarantee scheme aimed at filling a business credit gap caused by the banks’ ... financial restructuring” of car manufacturers whose bosses and workers have called on the Government [more...]

Date: 2009-01-15 23:55:25

Understanding Financial Statements and Annual Reports (3)

Accounting is the language of business. It is the vehicle for communicating financial information about a company to many different groups of people: managers, owners, creditors, investors, customers, suppliers, government agencies, economists ... is liquid enough to make debt payments and solvent enough to repay the loan principle if the business [more...]

Date: 2009-01-02 02:49:55

Terengganu’s debt soars despite return of royalties

Terengganu’s debt soars despite return of royalties One night, when I was unable to fall asleep, I opened up the Auditor-General’s report, ... , the state government’s debt to the federal government has been rising during the same period: 2003 - RM891 ... These are largely due to federal loans, taken out for water supply and low-cost housing projects. [more...]

Date: 2009-01-15 11:31:06

That is the one question we are asked every single day.  Homeowners are confused with their options (or in some cases, their lack of options) ... is not doing the same tax relief as the federal government.  You may have a state tax liability ... the entire debt (on your first and second loans [more...]

Date: 2009-01-15 21:07:27

Freddie, Fannie Force Borrowers to Waive Legal Rights

When the government announced in November that it would use mortgage giants Fannie Mae and Freddie Mac to streamline loan modifications for ... to sue, if they wanted to get those loans modified. The waiver of legal rights is buried among a long ... more affordable loans under the new loan program, which began on Dec. 15. Some experts say the waivers [more...]

Date: 2009-01-15 16:36:00

Fannie, Freddie, now FHLBs?

Some other banks are encountering difficulties today -- namely the Federal Home Loan Banks, one of the biggest providers of funding for US mortgages. From Bloomberg: The Federal Home Loan Bank of Seattle said it will suspend dividends and "excess" stock repurchases, becoming the second of the government-chartered lending cooperatives to say [more...]

Date: 2009-01-14 12:35:34

China Unveils Support Package for Auto Industry

Xinhua. China’s State Council introduced a government support plan for the auto industry, one of its “pillar industries” ... in the credit system for car purchase loans. More than 93% of Chinese vehicles are sold in the domestic ... for people to scrap their old cars. Eliminating regulations that restrict car purchase. Encourage large [more...]

Date: 2009-01-15 09:44:17

Student loan fixes will generate heat

Presidential candidates Barack Obama and John McCain say they'll reform the federal government's $150 billion student financial aid program. Commentator Kim Clark says that's great, but it's going [more...]

Date: 2008-09-12 20:01:38

Fed's Latest Rescue Package Throws Lifeline to Home Buyers

According to this Reuters article, the Fed announced a new rescue package of $800 billion USD to lower the cost of home purchases, credit card and student loans. Under the new mortgage program, the Fed will buy up to $100 billion of debt issued by government-sponsored mortgage enterprises Fannie Mae, Freddie Mac [more...]

Date: 2008-11-26 09:12:56

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

TARP goes TALF as FRBNY lends against AAA ABS

For all those people out there who want to know why they're not seeing more of this government bailout money directed at ordinary folk, boy do I have an acronym for you. Meet TALF, the Term Asset Backed Securities Loan Facility ... gin up lending for things like auto loans, student loans and credit cards, essentially disappeared [more...]

Date: 2008-11-25 16:23:55

Debt Solutions

I’ve known of quite a number of people who are struggling between debts ... like this or services like this exist in the country, there’s even a government debt consolidation program that of which ... I know of a friend who’s payroll goes directly to his credit card bills plus the loans on the side [more...]

Date: 2008-10-03 16:05:53

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