The housing market is bad. And it’s getting worse. A report on CNN today says: Hammered by the ailing housing market, mortgage finance giant Fannie Mae said Thursday it would tap its lifeline from the Treasury Department after reporting $58.7 billion in losses for 2008. The company, a crucial source of funding for mortgage lenders, [...]
Filed under: Economy, Political | Tagged: bail out, bailout, Fannie Mae | Leave a Comment »
I read today where the President launched a new website to allow us to track where the “Recovery Act” money is going. It’s at Recovery.gov. On the website, President Obama says This is your money. You have a right to know where it’s going and how it’s being spent. Learn what steps we’re taking to [...]
Filed under: Economy, Political | Tagged: bail out, bailout, bank, mortgages, Obama, open letter, subprime | Leave a Comment »
The Senate tonight passed the “Paul Wellstone Mental Health and Addiction Equity Act of 2007″. Why should you care? Because it’s the single largest, most intrusive, most budget busting bill ever passed. In case you’re wondering, the “Paul Wellstone Mental Health and Addiction Equity Act of 2007″ is the name of the Senate version of [...]
Filed under: Economy, Political | Tagged: bail out, bailout, Bush is an idiot, FDIC, financial, rescue, Senate, stupidity | Leave a Comment »
Someone must have screwed up, because when Bush made his speech the other night, he actually got part of it right. In the past 7 years, you can probably count on one hand the number of times that has happened. It’s probably lower than mere chance would allow! I’ve said it before, but it bears [...]
Filed under: Economy, Political | Tagged: bail out, bailout, Bush is an idiot, Fannie Mae, financial, Freddie Mac, GSE, taxes | Leave a Comment »
This needs to be read by more people, so more people can contact congress to let them know what they think of it. I’ll post the reasons for my own thoughts later (I think it sucks!) but for now, here’s the text of the proposed plan according to the NY TImes. Please read it and [...]
Filed under: Economy, Political | Tagged: bail out, bailout, Congress, financial, government subsidy, mortgage, Stocks, subprime, subprime crisis | Leave a Comment »
Just yesterday I mentioned the CNBC report about Ambac that caused a major market revesal a couple of weeks ago, and now it happens again today. How many times are these people going to cry wolf? And (perhaps a better question) when do people stop believing what CNBC says? Perhaps the strangest part of today’s [...]
Filed under: Economy | Tagged: Ambac, bail out, Citigroup, Dubai, Kuwait, sub prime, term auction facility | Leave a Comment »
