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New California Legislation: Will it stop foreclosures or just delay them?
"In California, distressed homeowners will be able to have a fighting chance against foreclosure ever since the passing of the new state legislation Senate Bill 1137. The said law requires the mortgage lender or...Burning Through Billions
"I thought it was expensive in Vancouver… So far this week the US fed has committed: AIG= $85 billion Fannie Mae and Freddie Mac=$200 billion Federal Housing Administration to refinance failing mortgage into new, reduced-principal loans with a federal guarantee, passed as...Florida Homeowners Urged to Attend Foreclosure Workshop
"Since Florida is among the states hit hardest by the foreclosure crisis, it can be expected that many housing advocacy groups would like to provide assistance to the thousands of troubled homeowners. One such...
US creates government sponsored Bad Bank
Bad Bank Paulson, Pelosi had the task to announce the "Bad bank" creation finally by the US government. Originally the banks themselves proposed a $70 bn "Bad bank". Obviously the $70bn would have been just... More Homes Expected to Enter Foreclosure as Credit Card Delinquencies, Debt Soar
"According to the credit-reporting agency TransUnion LLC, the percentage of credit card users delinquent with their payments increased to 1.04 percent in the second quarter of this year compared to last year. On...Obama gets big Bucks from Fannie Mae/Freddie Mac
Obama calling himself an outsider and agent of change has CEO of Freddie Mac on his Pay Role. The fact is that he has received over 500,000 dollars from folks within Fannie Mae/Freddie Mac. Some...
created by Albert Milliron | 4 years ago | updated 4 years ago
3524 views | 8 recommendations | 11 comments
3524 views | 8 recommendations | 11 comments
Is the USA transforming into a USSRA?
According to Nouriel Roubini, recent intervention in the American economy would be turning the United States into the United Socialist State Republic of America. " Wed, 17 Sep 2008 22:20:03 MT An economic analyst...Morgan Stanley, Goldman Sachs and HBOS: Caught in the Mortgage Quagmire
More large financial institutions are getting mired in the bog of the morgage crisis, including US institutions Morgan Stanley and Goldman Sachs, and UK mortgage lender HBOS."Shares of the two largest U.S....
created by Jordan Yerman | 4 years ago | updated 4 years ago
387 views | 8 recommendations | 3 comments
387 views | 8 recommendations | 3 comments
Why the Financial Meltdown Reflects the Fundamental Failure of the Bush-McCai...
"The financial meltdown on Wall Street is more than a cyclic correction brought on by a mismanaged business cycle. It is emblematic of a problem at the very foundation of the right wing economic philosophy that... McCain economic policy shaped by lobbyist, contributed to mortgage crisis
"McCain economic policy shaped by lobbyistSwiss bank paid McCain co-chair to push agenda on U.S. mortgage crisisTimothy A. Clary / AFP - Getty Images fileRepublican Presidential candidate U.S. Senator John McCain... 300 views | 10 recommendations | 2 comments
Greenspan on the Current Financial State
I am using Google Chrome now and have no highlight tool. I liked this story I found on Bloomberg.com- it's rather succinict.LL.Greenspan Says Crisis Maybe `Once in Century' Event.By Vivien Lou ChenSept. 14...Senate to Fannie, Freddie: Freeze Foreclosures!
This week, several mortgage companies were placed under the control of government-backed enterprises Fannie Mae and Freddie Mac. And to provide the troubled borrowers with immediate relief, the Senate Banking...Q&A: Stanford financial economist Darrell Duffie discusses government takeove...
Since the government announced its takeover plan of Fannie Mae and Freddie Mac, stock markets in the United States and around the world have rallied and mortgage rates have dropped. But the latest turn in the...
created by integrityforamerica | 4 years ago | updated 4 years ago
421 views | 0 recommendations | 1 comment
421 views | 0 recommendations | 1 comment
Troubled Homeowners Buying Second Homes?
"According to ABCNews, there seem to be a growing number of homeowners who are purchasing cheaper second homes and simply walking out of their first homes because they could no longer afford their mortgage...US budget deficit seen at $438bn
According to the latest Capitol Hill estimates, the US government will run a near-record deficit of $407 billion this year. However the actual figure is likely to be much larger than this, because it is not taking into account the recent bailout of the nation's two biggest...
created by Dave Keating | 4 years ago | updated 4 years ago
162 views | 4 recommendations | 2 comments
162 views | 4 recommendations | 2 comments
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