Capitalism without balls

This is a hilarious article – with a serious message – from Bill Bonner of The Daily Reckoning.  I received it in their daily email, but I cannot find it on the Daily Reckoning site right now.  I’ll post a link to the article if I find it later. Mr. Bonner –  I’m going to […]

Housing in the tank

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, […]

Gotta be a mistake – Bush got it right

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 […]

IndyMac is gone

The Office of Thrift Supervision shuts down mortgage lender IndyMac and transfers the operations to the Federal Deposit Insurance Corporation. That’s the headline from a CNN story dated 7:30pm today.  The story goes on to say “This institution failed today due to a liquidity crisis,” OTS Director John Reich said. I just posted an article […]