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 »
I was responding to some comments to a post I made to www.seekingalpha.com a few minutes ago, when I said something that I think needs to be explained further. I mentioned “leverage” and since that’s been in the news (especially regarding financial stocks) quite a lot over the past few months, I decided to expound [...]
Filed under: Uncategorized | Tagged: ARM, Bear Stearns, default, Google, leverage, loan, mortgage, Option Arm, S&P 500, Stock Market, Stocks, sub prime | Leave a Comment »
It was quite a day today in the financial media. I’ve read stories tonight about why it’s great for everyone that the Fed bailed out Bear Stearns, I’ve read stories about why it’s bad that the taxpayers are bailing out Bear Stearns, and I’ve read stories where I don’t think the author had a clue what he [...]
Filed under: Economy | Tagged: ARM's, Bear Stearns, defaults, equity, foreclosure, home loans, mortgage, subprime | Leave a Comment »
Here’s another case of someone buying more house than they could afford and now they’re whining. According to the story “She has had to take extreme measures to pay for her interest-only mortgage of $2,500 a month.” Let’s take a second and do the math on this. Which is something Patricia Guerrero should have done before [...]
Filed under: Economy | Tagged: Debt, foreclosure, interest only loan, mortgage | 2 Comments »
Given the posts I made earlier tonight, I’ve been thinking that instead of just outlining the problems of today (and how much worse it’s going to get) I should talk a bit about what to do with your money to allow you to keep more if it during this downturn – or worse – of [...]
Filed under: Uncategorized | Tagged: bank, collapse, Debt, dollar, emergency fund, Gold, mortgage, paranoid, peak oil, real estate, silver | Leave a Comment »
I was reading about Bank of America’s buyout of Countrywide this morning, and I happened upon this article at The Wall Street Journal: http://blogs.wsj.com/marketbeat/2007/11/30/we-are-all-subprime-borrowers-now/?mod=sphere_ts I normally read a lot of opinions and I can respectfully disagree with those who look at things from a different angle than me, but this really ticked me off. The [...]
Filed under: Uncategorized | Tagged: bailout, mortgage, subprime, subprime crisis | 1 Comment »
