" In a lawsuit filed yesterday in the US Southern District Court of Florida, the SEC alleges the brokers presented the CMOs as suitable products for retirees and conservative investors. In some cases, the CMOs were...
UPDATE MARCH 8th: I'm happy to report that things are looking up for the Sleeper family - it looks like they'll be getting private financing to keep their family "cave", after all. Here's an...
" Simpsons characters pictured in a mob revolt with tourches. Image Credit: The SimpsonsLet The Revolution BeginIt's ironic that Barack Obama, whose friends were disciples Saul Alinsky, an ardent social...
Prognostications, Pundits and Poo
Bill Hitchcock
We all know that we are in an “interesting” real estate environment. The fact is-It’s terrible. But where do we go from here?
Personally, I think prognostications from most pundits is purely poo. Most of the...
The German bank that's involved in the financing of three high profile public-private partnership (P3) projects in British Columbia may be partially nationalized by the German government. Hypo Real Estate (HRE)...
created by mike_yvr | 24 wks ago | updated 24 wks ago 123 views | 3 recommendations | 0 comments
" Nearly one in 10 Latino homeowners fell behind in mortgage payments last year. That's the finding of a Pew Hispanic Center survey. The Hispanic research group also reports about 3% say they had received a foreclosure notice. The survey found that nearly half of respondents,...
Hell has a special place reserved for those who prey on the innocent, but until those scam artists fill their reserved slots we all need to make sure we learn how to spot them. ...
opinion by TBeagle | 26 wks ago | updated 26 wks ago 161 views | 0 recommendations | 0 comments
Amidst a nationwide recession, financial credit meltdown and foreclosure crisis, churches also are praying that they can meet their next mortgage. "The era of easy credit has begun taking its toll on even the...
"After his stint on Wall Street, Michael Lewis wrote Liar’s Poker, a famous book that gave an inside story of the high-rolling Wall Street of the 80’s, with its exorbitant salaries and careless handling of...
created by hungeski | 27 wks ago 145 views | 0 recommendations | 0 comments
Yesterday the Brazilian government announced its six months moratorium on mortgage payments for unemployed home owners, now Minister of Finances Guido Mantega said that a federal controlled bank will boost...
NEW YORK - Bank of America said yesterday taht it will eliminate 3,000 jobs over the next three years, as it faces a deteriorating economic environment and tries to absorb Merrill Lynch & Co. An announcement...
"Employers cut 533K jobs in Nov., most in 34 years Dec 5, 2008 Economy Dec 5, 3:22 PM (ET) By JEANNINE AVERSA WASHINGTON (AP) - Skittish employers slashed 533,000 jobs in November, the most in 34 years,...
created by gdg | 30 wks ago | updated 30 wks ago 84 views | 0 recommendations | 0 comments
"Banks and building societies are coming under increasing pressure from MPs to pass on the latest cut in interest rates to their mortgage customers. Some of the major lenders made an immediate decision to pass on...
The title of the “Anatomy of a Meltdown” in an issue of The New Yorker magazine was rightly apt for the current financial crisis sweeping across the nation. Federal Reserve Chairman Ben Bernanke and other experts last year were quick to say that the blossoming issues on...
created by cassy82 | 30 wks ago | updated 30 wks ago 113 views | 0 recommendations | 0 comments
Nationalized mortgage giants Fannie Mae and Freddie Mac are offering holidays from foreclosures till 2009. This will temporarily bring some relief to besieged house mortgage borrowers. Banks have realized that accepting lower payments is a better alternative to proceeding...