December 2008 - Around The Web

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Was There Really a Financial Crisis ?

Published Mon, Dec 22 2008 12:57 PM by feedproxy.google.com

Hale “Bonddad” Stewart is a former bond broker with several regional firms. He currently writes for the Huffington Post and Website: Law office: > ~~~~ > The paper is titled Facts and Myths About the Financial Crisis of 2008 and it argues there...
Rent vs. Buy: Buying Becomes More Attractive

Published Mon, Dec 22 2008 12:09 PM by Seeking Alpha

submits: I've been playing around with mortgage calculators this morning, after getting an email from a renter in Long Island who wants to buy but isn't happy with falling mortgage rates: I have saved enough for a substantial down payment - and...
Deconstructing the Fed's balance sheet

Published Mon, Dec 22 2008 11:07 AM by themessthatgreenspanmade.blogspot.com

Jim Hamilton at Econbrowser the balance sheet of the Federal Reserve, explaining in excruciating detail why you shouldn't be alarmed at the chart you see below. Here's the part that should make you feel better. That is, the part where Fed Chairman...
Mortgage re-defaults rising, no sign of slowing

Published Mon, Dec 22 2008 11:07 AM by Reuters

WASHINGTON (Reuters) - The rate of home mortgage borrowers defaulting after their loans are modified is rising and shows no signs of leveling off, U.S. banking regulators said on Monday.
Homeowner Associations: Another Housing Minefield

Published Mon, Dec 22 2008 10:51 AM by Seeking Alpha

Tom Lindmark submits: The housing crisis keeps finding more ways to bite homeowners in the butt. The Arizona Republic has a couple of good articles on the problems that homeowners are facing with their homeowner associations. For those of you unfamiliar...
Morgan Stanley on Subprime (Still Hurting), Real Estate and More

Published Mon, Dec 22 2008 8:46 AM by Seeking Alpha

Key quotes from Morgan Stanley's (MS) : Subprime; where it all began, and where it still is:
A Tale of Two Housing Bubbles

Published Mon, Dec 22 2008 8:30 AM by Seeking Alpha

submits: A good friend of mine named Steven loves the writings of , and has been sharing them with me. For those who do not know who Spengler is – welcome to the club. Steven claims: Spengler’s identity is not publicized. From comments he makes, he is...
Property Developers Request Bailout: Report

Published Mon, Dec 22 2008 8:30 AM by CNBC

Some of the biggest U.S. property developers are asking for government money in the face of $160 billion in maturing commercial mortgages next year, the Wall Street Journal reported Monday. Topics: | | | | | Sectors: MEDIA:
National Penn Bank's Rare Customers: No Credit, No Defaults

Published Mon, Dec 22 2008 1:14 AM by Seeking Alpha

submits: by David Fessler No Credit… No License… No History? No Problem?
AP study finds $1.6B went to bailed-out bank execs

Published Mon, Dec 22 2008 12:27 AM by www.washingtonpost.com

-- Banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits in the calendar year 2007, an Associated Press analysis reveals.
NYT: Blaming Bush for the Wrong Things

Published Mon, Dec 22 2008 12:11 AM by feedproxy.google.com

The Sunday New York Times has a more or less blaming Bush for the housing and credit crisis. Its part of their “” series, and it is in some ways, off base. The long article (written by 3 people) comes close to some real truths, but it veers off, focusing...
White House & Housing Crisis: Timeline

Published Sun, Dec 21 2008 3:21 PM by feedproxy.google.com

Timeline: > courtesy of > Source : JO BECKER, SHERYL GAY STOLBERG and STEPHEN LABATON NYT, December 20, 2008 http://www.nytimes.com/2008/12/21/business/21admin.html
The Power of TARP

Published Sun, Dec 21 2008 3:21 PM by Seeking Alpha

I for one didn’t realize how over the banks who take TARP funds might end up being. In particular, one provision of the program gives the government the right to “unilaterally amend” the terms under which it hands out its cash. Whoa! When you have a counterparty...
CRA Reader Response

Published Sun, Dec 21 2008 8:20 AM by feedproxy.google.com

This is a reader response from Jim Brown (no relation) to our recent post: Jim Brown is a 25 year veteran of the mortgage business managing sales and marketing. If you’d like to respond at length to one of our posts send us an email at tips@blownmortgage...
Lawyers Sought to Help in Foreclosure Cases

Published Sun, Dec 21 2008 8:05 AM by www.washingtonpost.com

When Maryland's chief judge asked the state's lawyers to help homeowners facing foreclosure over the summer, hundreds of lawyers across the state stepped forward, agreeing to provide free legal assistance.
Savers hit as banks slash rates

Published Sun, Dec 21 2008 8:05 AM by www.ft.com

Savers have been hit by the interest rate cuts with one in four deposit accounts now paying less than 1 per cent after banks reduced their rates this month, according...
NY Times: Ideologues Aided Mortgage Crisis

Published Sat, Dec 20 2008 9:13 PM by Calculated Risk Blog

From the NY Times: The global financial system was teetering on the edge of collapse when President Bush and his economics team huddled in the Roosevelt Room of the White House for a briefing that, in the words of one participant, “scared the hell out...
Executive Pay: Will inflated pay packages get slashed?

Published Sat, Dec 20 2008 9:13 PM by www.washingtonpost.com

A ngelo R. Mozilo, whose Countrywide Financial came to symbolize the failings of the mortgage industry, took home more than half a billion dollars from 1998 to 2007, including $121.7 million from cashing in options last year alone. Â· Charles O. Prince...
So Now We Are Trying to Emulate Japan's Lost Decade?

Published Sat, Dec 20 2008 10:19 AM by feedproxy.google.com

US economists have relentlessly harangued the Japanese for their supposed mismanagement of their post bubble era, which has lead to nearly 20 years of low growth, borderline deflation, with a not-much-discussed, robust export sector. Along with others...
M&T Agrees to Buy Provident Bank

Published Sat, Dec 20 2008 10:19 AM by www.washingtonpost.com

M&T Bank has agreed to buy Baltimore's Provident Bankshares for stock valued at $401 million in a deal that will give the merged company a leading market position in Maryland and an expanded presence in Virginia.

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December 2008 - Around The Web

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