Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
# of Forum Posts
Select a Date
Use the calendar to view news headlines from a specific date.
Today  |  Yesterday  |  Random
Bottom Right Default
State Name: New Jersey
State Name underscore: New_Jersey
State Name dash: New-Jersey
State Name lower underscore: new_jersey
State Name lower dash: new-jersey
State Name lower: new jersey
State Abbreviation: NJ
State Abbreviation Lower: nj
Suggest a Story
Paste the URL of the story below to submit for editorial review and possible inclusion in ATW.
Please add 2 and 5 and type the answer here:
Leave this field blank.
What is Around the Web?
It is a continuously updated stream of news from around the web
Visit throughout the day for the latest breaking news.
» Click any link below to read more.
  • Tue, Apr 21 2009
  • 10:25 AM » Not All Large Institutions Are Too Big to Fail
    Published Tue, Apr 21 2009 10:25 AM by WSJ
    Certain firms are not too big to fail and must be allowed to do so to help the U.S. economy and financial markets heal, Federal Reserve Bank of Kansas City President Thomas Hoenig said Tuesday. Hoenig Hoenig said that protecting the country’s largest institutions from failure risks prolonging the current crisis and increasing its cost. Of particular concern, he said, is that financial support provided to these firms gives them a competitive advantage over other firms and subsidizes their growth and profit with taxpayer funds. “The United States currently faces economic turmoil related directly to a loss of confidence in our largest financial institutions because policymakers accepted the idea that some firms are just “too big to fail,’” the central banker said. “I do not.” The central banker was delivering a before the Joint Economic Committee of the U.S. Congress. Also appearing at the hearing were former IMF chief economist and Nobel laureate . Hoenig is currently a nonvoting member of the interest-rate setting Federal Open Market Committee . Hoenig said that pouring more money into large firms in hope of a turnaround may be tempting, but despite record levels of spending, confidence and transparency have not returned to financial markets. Key for a full economic recovery is restored confidence, Hoenig said. Hoenig added that in “the rush to find stability,” no clear process was used to allocate TARP funds among the largest firms. That created further uncertainty, he said, and is impeding a recovery. The central banker said that systemically important financial firms should be triaged based on their current condition. Well-capitalized firms should be left as is. Viable firms that need more capital should privately raise the capital or seek government assistance, with the taxpayer put in the senior position and the government determining the circumstances of the senior managers and directors. Nonviable institutions should be allowed to fail. Nonviable institutions could...
  • 10:25 AM » FED: Kohn, The Economic Outlook
    Published Tue, Apr 21 2009 10:25 AM by Federal Reserve
    Speech at the Hutchinson Lecture, Newark, Delaware
    Click Here to Read the Full Article

    Source: Federal Reserve
  • 10:10 AM » Treasury doesn't need more bailout money: Geithner
    Published Tue, Apr 21 2009 10:10 AM by Reuters
    WASHINGTON (Reuters) - The Treasury still has about $134.6 billion available in its coffers from last fall's bank bailout package and that should be enough for it to avoid asking Congress for more money, Treasury Secretary Timothy Geithner said on Tuesday.
  • 9:47 AM » Geithner's TARP Testimony
    Published Tue, Apr 21 2009 9:47 AM by
    Treasury Secretary Tim Geithner discusses the use of TARP Funds before the Congressional Oversight Panel
    Click Here to Read the Full Article

  • Mon, Apr 20 2009
  • 9:08 PM » Bank of America net up, shares sink on bad loans
    Published Mon, Apr 20 2009 9:08 PM by Reuters
    NEW YORK (Reuters) - A surge of troubled loans overshadowed better-than-expected earnings at Bank of America Corp, and the largest U.S. bank said it expects the credit situation to worsen, driving its shares down 24.3 percent.
  • 2:20 PM » JPMorgan: Banks Face Another $215 Billion in Mortgage Losses
    Published Mon, Apr 20 2009 2:20 PM by
    It seems like we’re back in a negative spiral, after enjoying a few weeks of optimism and related stock market goodness. The latest sliver of bad news comes from JPMorgan Chase mortgage-bond analyst Matthew Jozoff, who wrote in a report that banks are expected to lose another $400 billion related to bad loans, mainly those tied [...]
    Click Here to Read the Full Article

  • 1:33 PM » Bank of America Funds $85 Billion in First Mortgages, Ups Loans Losses
    Published Mon, Apr 20 2009 1:33 PM by
    Bank of America said it funded a whopping $85 billion in first mortgages during the first quarter, though existing loans continued to sour. The Charlotte-based bank and mortgage lender said it helped 382,000 borrowers either purchase a home or refinance their existing mortgage, with about 25 percent actually going to home purchases. Additionally, the company said it [...]
    Click Here to Read the Full Article

  • 11:28 AM » And that’s how I met Sam… I mean Ashmi… or Assme… to help with my "Loone Mode"
    Published Mon, Apr 20 2009 11:28 AM by
    Anyway, Sam was very interested in helping me with my “loone mode,” was what I think he called it. He couldn’t tell me whether I qualified or not, or what the process would entail, but he was certain that my president had created something very wonderful and was quite taken with Mr. Obama. He asked me if I know when President Obama might be visiting India and I told him that I wasn’t sure, but would check and get back to him.
    Click Here to Read the Full Article

  • 11:27 AM » BBT Reports Better than Expected Earnings
    Published Mon, Apr 20 2009 11:27 AM by Seeking Alpha
    submits: BB&T Corp. (BBT) reported its 1Q09on Friday. Operating earnings for the quarter came in at $187 million or $0.33 per diluted share, two pennies ahead of consensus. Though the company had a decent growth in loans and deposits and increased production in mortgage banking operations, credit quality worsened sharply, mainly due to deterioration in its housing loan portfolio in Florida, Atlanta and Metro D.C. areas. BBT joined the group of banks, including Goldman Sachs (GS) and JP Morgan (JPM) waiting to be de-TARP-ed, as soon as possible. During the conference call, the CEO said that the bank would pay back TARP funds as soon they get government approval to do so, (presumably after the stress tests are completed), as he considers it to be "destructive."
    Click Here to Read the Full Article

    Source: Seeking Alpha
  • 10:00 AM » Stress Test Results LEAKED?
    Published Mon, Apr 20 2009 10:00 AM by
    The Turner Radio Network claims to have obtained the stress test results for the top 19 banks in the US, which are said to be “very bad.”
    Click Here to Read the Full Article

  • 9:22 AM » Bank of America profit rises, credit quality sours
    Published Mon, Apr 20 2009 9:22 AM by Reuters
    NEW YORK (Reuters) - Bank of America Corp on Monday disappointed investors by reporting a big increase in troubled loans, even as its purchase of Merrill Lynch & Co helped first-quarter profit more than double.
  • Sun, Apr 19 2009
  • 11:13 AM » Fed’s Lockhart: Commercial Real Estate Trouble Risk to Economy
    Published Sun, Apr 19 2009 11:13 AM by WSJ
    NASHVILLE –The latest big threat to economic recovery in the U.S., the commercial property market, could be the next target of an expanded special lending program from the central bank, Dennis Lockhart , president of the Atlanta Federal Reserve Bank, said Saturday. “On our watch list this year as a risk to the [economic] outlook is continuing worsening in the commercial real estate sector,” Mr. Lockhart said. The central banker was speaking at a conference on financial policy hosted by Vanderbilt University’s Owen Graduate School of Management to honor former Fed Governor Dewey Daane. Fed policymakers are still considering whether to include sponsorship for commercial property loans under its Term Asset-Backed Securities Loan Facility, or TALF, Mr. Lockhart said, adding that there’s been no official decision. “The details haven’t been fully worked out,” he said. Lockhart is currently a voting member on the Fed committee that deliberates the bank’s policy actions. At the last meeting, March 18, the committee announced a new plan to buy $300 billion in longer-term Treasurys and expand by $750 billion the size of lending programs aimed at reducing mortgage rates. The TALF program, which can accommodate around $1 trillion of support for the asset-backed markets that support consumer and business lending, has only just gotten underway, to a tepid reception from investors. The commercial real estate market has suffered on a variety of fronts, from rising unemployment in the corporate sector to a drop in business travel that’s depriving hotels of guests. As a result, Mr. Lockhart said, there’s a real risk of a spike in delinquencies and failure to refinance the roughly $400 billion of commercial real estate loans coming due this year. –Emily Barrett
  • 11:13 AM » Stress Over Stress Test
    Published Sun, Apr 19 2009 11:13 AM by Google News
    Stress is building over the stress test as . The U.S. Treasury and financial regulators are clashing with each other over how to disclose results from the stress tests of 19 U.S. banks, with some officials concerned at potential damage to weaker institutions. With a May 4 deadline approaching, there is no set plan for how much information to release, how to categorize the results or who should make the announcements, people familiar with the matter said. While the Office of the Comptroller of the Currency and other regulators want few details about the assessments to be publicized, the Treasury is pushing for broader disclosure. The disarray highlights what threatens to be a lose-lose situation for Treasury Secretary Timothy Geithner: If all the banks pass, the tests’ credibility will be questioned, and if some banks get failing grades and are forced to accept more government capital and oversight, they may be punished by investors and customers. Fed officials have pushed for the release of a white paper laying out the methodology of the assessments in an effort to bolster their credibility. The central bank has been leery of inserting politics into the examination process, two people familiar with the matter said. A statement on the methods is scheduled for release April 24. The Fed, the nation’s primary regulator of bank holding companies, is leading the tests. The 19 companies may get preliminary results as soon as April 24, a person briefed on the matter said. My Comment : Excuse me but shouldn't the white paper on what the stress test was supposed to accomplish and how it would work have come out before, not after the stress test was conducted? Geithner has said he crafted the stress test program in an effort to provide more transparency about the health of banks’ balance sheets. He and Fed Chairman Ben S. Bernanke have also noted that most of the 19 banks are currently well capitalized and that not all of them would need new capital. My Comment : No one in...
  • Fri, Apr 17 2009
  • 8:22 AM » Report: One-Third of REOs Seriously Damaged
    Published Fri, Apr 17 2009 8:22 AM by Calculated Risk Blog
    From CNN: "About a third of all of the foreclosed properties nationwide have been so damaged, either by the previous owners or by criminal gangs coming in after the foreclosure, that they no longer qualify for standard mortgage financing," [researcher] Thomas Popik told CNN. "So there is going to be all kinds of government programs to help, but if they don't qualify for standard mortgage financing, there's no one to buy these properties." Popik says responses from thousands of real estate agents nationwide to the questionnaires he sends out quarterly indicate that badly damaged foreclosed homes ... are a much bigger element of the national housing picture than officials in Washington have acknowledged. "In many cases, it costs so much to rehabilitate these houses, it's just not cost-effective," he told CNN. "And the properties are eventually going to be bulldozed." This probably explains some of the "shadow" inventory.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:22 AM » Fed Balance Sheet Update
    Published Fri, Apr 17 2009 8:22 AM by WSJ
    The U.S. Federal Reserve’s balance sheet in the latest week with asset holdings growing to $2.19 trillion Wednesday from $2.09 trillion a week earlier as reduced use of traditional lending facilities was again offset by a rise in the central bank’s holdings of mortgage-backed securities. Our updated graphic is below. You need to upgrade your Flash Player
  • 8:06 AM » Citigroup posts better-than-expected results
    Published Fri, Apr 17 2009 8:06 AM by Washington Post
    NEW YORK -- Citigroup's problems are far from over, but it had its best quarter since late 2007.
    Click Here to Read the Full Article

    Source: Washington Post
  • Thu, Apr 16 2009
  • 3:55 PM » Lenders Kept Appraiser Blacklists for Those Who Refused to Inflate Values
    Published Thu, Apr 16 2009 3:55 PM by
    Banks and mortgage lenders kept appraiser blacklists for those who refused to falsely inflate home values, according to a report from the Center for Public Integrity. These lists apparently contained thousands of names of appraisers who weren’t willing to play ball, or simply couldn’t come up with the values needed to get deals closed. One lender, Amerisave, [...]
    Click Here to Read the Full Article

  • 3:40 PM » Loan Modifications Stalling the Foreclosure Recovery Effort?
    Published Thu, Apr 16 2009 3:40 PM by
    By Moe Bedard It’s getting to be rather old news indicating that notices of default have hit record highs. Most everyone is aware of the fact that we are in a housing crisis. However, few people claim that lenders offering loan modifications are to blame for elongating the housing crisis. President Obama has sponsored loan modification [...]
    Click Here to Read the Full Article

  • 3:25 PM » Board announces availability of new video "Lessons from a Storm"
    Published Thu, Apr 16 2009 3:25 PM by Federal Reserve
    Board announces availability of new video "Lessons from a Storm"
    Click Here to Read the Full Article

    Source: Federal Reserve
  • 3:25 PM » Lockhart Describes Views of Postcrisis Financial Environment
    Published Thu, Apr 16 2009 3:25 PM by
    Atlanta Fed President and Chief Executive Officer Dennis Lockhart speaks about the future financial and regulatory environment at a Levy Economics Institute conference in New York.
    Click Here to Read the Full Article

  • 3:25 PM » U.S. to unveil bank test results May 4
    Published Thu, Apr 16 2009 3:25 PM by Reuters
    WASHINGTON (Reuters) - The results of tests to gauge how the top 19 U.S. banks would fare should the deep U.S. recession worsen will be publicly disclosed on May 4, a regulatory official said on Thursday.
  • 1:09 PM » New York Fed iIssues Tentative Outright Treasury Operation Schedule
    Published Thu, Apr 16 2009 1:09 PM by NY Fed
    Tentative Outright Treasury Operation Schedule
  • 10:05 AM » Semi-Annual Report to Congress on International Economic and Exchange Rate Policies
    Published Thu, Apr 16 2009 10:05 AM by US Treasury
    To view or print the PDF content on this page, download the free . April 15, 2009 TG-90 Statement by Treasury Secretary Timothy Geithner on Release of Semi-Annual Report to Congress on International Economic and Exchange Rate Policies Washington, D.C .– Today I am sending to Congress the semi-annual Report to Congress on International Economic and Exchange Rate Policies. The Report is required under Sections 3004 and 3005 of the Omnibus Trade and Competitiveness Act of 1988. The period examined is the second half of 2008, but where appropriate information up to the end of March 2009 is included. The Report focuses on the economic, financial and exchange rate impacts of the ongoing financial crisis on the U.S. economy, and more broadly the global economy. The Report also examines what policy actions twenty-one economies – that make up more than 80 percent of U.S. international trade – are taking to restore growth and achieve financial stability. This Report was written recognizing that the global economic and financial backdrop has changed dramatically. The global economy is in recession; the first decline in global output in more than sixty years. Credit market conditions remain strained and financial market volatility continues to be elevated. Since the start of the recession there have been more than 5 million job losses in the United States. Job losses globally are much larger. The financial shocks of the past 20 months have caused transformational changes to the environment in which the U.S. economy operates. In the aftermath of the emerging market crises of the late 1990s, many economies put in place sound policies and institutions, and attracted considerable capital inflow. Many also grew increasingly dependent on exports for their economic growth and job creation and accumulated large stockpiles of foreign exchange reserves, often as a form of self-insurance. Reserve accumulation by emerging market economies in the two years ending March 2008 averaged nearly ...
  • 10:04 AM » Subprime Mortgage Pricing: The Impact of Race, Ethnicity, and Gender on the Cost of Borrowing.
    Published Thu, Apr 16 2009 10:04 AM by NY Fed
    Andrew F. Haughwout, Christopher Mayer, and Joseph Tracy. Subprime Mortgage Pricing: The Impact of Race, Ethnicity, and Gender on the Cost of Borrowing. Federal Reserve Bank of New York Staff Reports Staff Report Number 368, April 2009.
  • 10:04 AM » 10 Mistakes First-Time Home Buyers Make
    Published Thu, Apr 16 2009 10:04 AM by
    Standard & Poor's latest Case-Shiller index, which tracks home prices across 20 major U.S. cities, reported that values dropped 19% in January from a year earlier.
    Click Here to Read the Full Article

  • 10:04 AM » Goldman's Offering and the Recent Rally: Coincidence?
    Published Thu, Apr 16 2009 10:04 AM by Seeking Alpha
    submits: This past Tuesday, Goldman Sachs Group Inc . (GS) announced its sales of $5 billion in new stock in an effort to repay U.S. government bailout loans. Goldman is upset with the restrictions these loans place on Goldman’s business operations, and the company is very focused on repaying the government and getting out of these restrictions as soon as possible. Their solution: raise money from the capital markets. On March 4th, Goldman’s shares hit a low of $73.95 . On April 13th , Goldman’s shares, in the midst and on the back of this current rally, had risen to $130 , a massive gain of 75% in just five weeks !
    Click Here to Read the Full Article

    Source: Seeking Alpha
  • 8:37 AM » Changing the jumbo mortgage game
    Published Thu, Apr 16 2009 8:37 AM by Google News
    Americans are spending less on luxuries these days. That includes luxury houses. The number of jumbo mortgage originations declined an estimated 70 percent nationwide during 2008. The most recent Affluent Market Tracking Study conducted semi-annually by the , reveals that among luxury consumers, plans to purchase a primary residence of a vacation home have declined to record lows and home remodeling plans are only one-half of what they were a year ago. The affluent are the primary consumers of jumbo and super jumbo mortgage products. Although the jumbo mortgage market has not been as widely discussed as the conforming mortgage market in the current crisis, it is undergoing significant changes. April alone has seen one established player leaving the jumbo mortgage field while another joins it. A jumbo mortgage is one that exceeds the loan limits set by Fannie Mae and Freddie Mac. The limit changes annually for mortgages on single-family homes. Interest rates on jumbo mortgages are generally higher than on conforming (those within the Fannie Mae/Freddie Mac limits) but vary in similar ways. Historically, jumbo mortgage rates exceeded conforming loan rates by 20 basis points, according to First Internet Bank of Indiana (First IB). Recently, that gap has widened to as much as 200 basis points or 2 percentage points. Leaving the jumbo mortgage game is Thornburg Mortgage Inc., which announced earlier this month that the company planned to seek Chapter 11 bankruptcy protection. Santa Fe-based Thornburg was the second-largest independent mortgage company in the U.S. at one time. The reports that Thornburg’s financial problems stem from the collapse of the market for mortgage-backed securities rather than more familiar collapse of sub-prime mortgages. The company’s assets, other than mortgage servicing rights, will be sold or liquidated. The mortgage servicing rights, which were granted as security for various financing agreements with lenders including JPMorgan Chase Funding...
  • 8:36 AM » Top Mortgage Servicers to Receive up to $10 Billion for Loan Mods
    Published Thu, Apr 16 2009 8:36 AM by
    A handful of the biggest home loan servicers stand to reap up to $10 billion from the Treasury Department for modifying at-risk mortgages, the WSJ reported today. The incentive payments are part of a $75 billion “Homeowner Stability Initiative” plan unveiled by President Obama in February. Participating loan servicers will receive an upfront fee of $1,000 for [...]
    Click Here to Read the Full Article

  • 8:35 AM » General Growth files for bankruptcy protection
    Published Thu, Apr 16 2009 8:35 AM by
    The second largest US mall owner filed for bankruptcy protection making it one of the biggest real estate bankruptcies in US history
  • 8:35 AM » JPMorgan profit beats forecasts
    Published Thu, Apr 16 2009 8:35 AM by Reuters
    NEW YORK (Reuters) - JPMorgan Chase & Co reported better-than-expected first-quarter profit on Thursday, as improved investment banking performance offset an increase in losses from credit cards and other consumer debt.
  • 8:35 AM » Foreclosure filings jump 24%
    Published Thu, Apr 16 2009 8:35 AM by CNN
    Foreclosures skyrocketed in March and the first quarter of 2008 to their highest levels on record as banks lifted moratoria on filings.
  • Wed, Apr 15 2009
  • 9:07 PM » Readers Want Bernanke to Stay
    Published Wed, Apr 15 2009 9:07 PM by WSJ
    Wall Street Journal readers think Ben Bernanke deserves another term as Federal Reserve chairman by a two to one margin. Granted, it’s a completely unscientific and non-random poll, but of the 1,734 readers who voted by this afternoon, 1,118 supported the current Fed chief while 616 are happy to bid him farewell when his term ends January 31, 2010. Meantime Lawrence Summers , one of the White House economic advisers who’s viewed as a possible successor to Bernanke, has . Want to cast your vote?
  • 8:52 PM » Say Hello to “Frannie”
    Published Wed, Apr 15 2009 8:52 PM by The Big Picture
    A merger of incompetents: “U.S. regulators seized Fannie Mae and Freddie Mac in September amid a rise in mortgage delinquencies that led to a combined loss of $108.8 billion last year. The U.S. Treasury has injected $59.8 billion in emergency funds into the companies. Executives at Washington-based Fannie, the larger of the two, have discussed internally the possibility of taking over McLean, Virginia-based Freddie’s operations, according to people familiar with the matter. A formal approach isn’t imminent, said the people, who asked not to be named because the discussions are private. A merger would be the quickest way for regulators to cut costs by reducing Fannie and Freddie’s combined 11,000-person workforce, shedding underperforming mortgage assets and reducing the bureaucracy of running two companies with identical functions, said Christopher Whalen, co-founder of Institutional Risk Analytics in Torrance, California . . .” “It’s got to happen; we’re not going to put them back the way they were,” Whalen said of a merger. “The only way we’re going to be able to manage them is if we squeeze every last ounce of savings out of the administrative side and just focus on trying to keep the loss number under control.” Great! I can just hear the new TV commercials: “Say Good-Bye to Fannie, Freddie — and say hello to Frannie!” Look for it sometime in mid-2010… > Source: Dawn Kopecki Bloomberg, April 15 2009
    Click Here to Read the Full Article

    Source: The Big Picture
  • 4:29 PM » TARP Recipients Boost Mortgage Lending, But Nothing Else
    Published Wed, Apr 15 2009 4:29 PM by
    The 21 largest banks that received TARP funds saw minimal increases in overall lending in February compared to a month earlier, according to data released today by the Treasury. The median growth in total lending was actually negative two percent in February, with nine banks posting increases and 12 experiencing declines. “Against a difficult economic backdrop, banks [...]
    Click Here to Read the Full Article

  • 4:28 PM » White House: US to release bank stress data in May
    Published Wed, Apr 15 2009 4:28 PM by Calculated Risk Blog
    From Reuters: ... "Early in May, you will see in a systematic and coordinated way the transparency of determining and showing to all involved some of the results of these stress tests," White House spokesman Robert Gibbs said. The tests will assess how much of a "capital cushion" the banks are likely to need to stay healthy, given the current economic environment, he said. "Our hope is that banks that are not healthy, or need help, will first and foremost seek that help privately, and then we'll take steps from there to assist them," Gibbs said. ... U.S. regulators are preparing a guide to explain to the public the bank stress tests and how to interpret the results, sources have told Reuters. "[T]he transparency of determining and showing"? What does that mean? " Some of the results"? And a guide on how to interpret the results? We don't need no ! Just show us the data.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 4:27 PM » Nevada Attorney General Announces Mortgage Fraud Strike Force
    Published Wed, Apr 15 2009 4:27 PM by
    From the Nevada Attorney General, Press Release April 7, 2009 Carson City Attorney General Catherine Cortez Masto warns as the mortgage crisis continues to unfold, record-breaking home foreclosures will be experienced and many homeowners will be forced to make tough choices. Nevada is number one in the nation for foreclosures, with one filing for every 70 households. [...]
    Click Here to Read the Full Article

  • 4:26 PM » Reverse Mortgage Volume Hits a New High
    Published Wed, Apr 15 2009 4:26 PM by
    Sign of the times…reverse mortgage volume hit a new record high last month, according to data from the Department of Housing and Urban Development. So-called Home Equity Conversion Mortgages (HECM), which allow homeowners aged 62 and older to pull equity out of their homes without making mortgage payments, increased 24 percent from February, setting a new [...]
    Click Here to Read the Full Article

  • 4:26 PM » Latest Dallas Beige Book
    Published Wed, Apr 15 2009 4:26 PM by
    The Federal Reserve System's latest Beige Book survey has been released. The Dallas Beige Book, along with a link to the national summary and reports from other Federal Reserve Districts, is available online.
    Click Here to Read the Full Article

  • 4:26 PM » Capital One card loss rates hits 9.3%
    Published Wed, Apr 15 2009 4:26 PM by
    Concerns over the leading US credit card companies grew as Capital One Financial, a leading issuer, reported that its credit card loss rates were exceeding the unemployment rate
  • 10:02 AM » Obama Stakes His Fortunes on Failed Banksters
    Published Wed, Apr 15 2009 10:02 AM by Bloomberg
    Now that we have a rough idea how President Barack Obama and his lieutenants plan to prop up insolvent financial institutions using taxpayers’ money, we’re left with a more difficult question: Why?
Did you know?
You can see a list of all comments on MND by clicking the 'Read the Latest Comments' option under the 'Community' menu.

More From MND

Mortgage Rates:
  • 30 Yr FRM 2.88%
  • |
  • 15 Yr FRM 2.38%
  • |
  • Jumbo 30 Year Fixed 3.55%
MBS Prices:
  • 30YR FNMA 4.5 107-26 (0-05)
  • |
  • 30YR FNMA 5.0 109-18 (0-03)
  • |
  • 30YR FNMA 5.5 110-16 (-0-00)
Recent Housing Data:
  • Mortgage Apps -5.12%
  • |
  • Refinance Index -6.77%
  • |
  • Purchase Index -1.76%