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January 2009 - Around The Web



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  • Default Notices Down Sharply in California During Fourth Quarter
    Published Tue, Jan 27 2009 1:59 PM by www.thetruthaboutmortgage.com
    Mortgage default notices fell precipitously during the fourth quarter in California thanks to new legislation that made it more difficult for lenders to initiate foreclosure proceedings, DataQuick reported today. Lenders sent borrowers 75,230 default...
  • Foreclosure Mediation Available in all 88 Counties in Ohio
    Published Tue, Jan 27 2009 1:58 PM by loanworkout.org
    Developed in response to Ohio’s rising mortgage crisis by the Supreme Court’s Dispute Resolution Section, the first-of-its-kind model in the nation provided local courts with step-by-step directions to launch foreclosure mediation programs. The model...
  • Citigroup names new business heads as part of split
    Published Tue, Jan 27 2009 1:58 PM by www.marketwatch.com
    Citigroup Inc. announced executives to head various divisions as the struggling banking giant moves forward to split its operations into two segments focused on banking and other financial services. The company this month detailed a restructuring plan...
  • All eyes on Wells Fargo
    Published Tue, Jan 27 2009 1:58 PM by rss.cnn.com
    Nearly all of the nation's largest banks have reported dreary fourth-quarter results, and now investors are wondering if Wells Fargo will do the same.
  • Cuomo subpoenas Thain over Merrill bonuses
    Published Tue, Jan 27 2009 12:08 PM by Reuters
    NEW YORK (Reuters) - New York's attorney general issued a subpoena to former Merrill Lynch Chief Executive John Thain on Tuesday in a probe into bonuses paid to the firm's employees just days before its takeover by Bank of America Corp.
  • Rosenberg on the Recession Depression
    Published Tue, Jan 27 2009 12:08 PM by themessthatgreenspanmade.blogspot.com
    This just in from David Rosenberg at Merrill Lynch (hat tip JN): Not your father’s recession, but maybe your grandfather’s In our marketing tour through Europe last week, we brought along our new chart package entitled “Not your father’s recession, but...
  • Key lawmaker calls for stronger credit swaps rules
    Published Tue, Jan 27 2009 11:53 AM by www.marketwatch.com
    WASHINGTON (MarketWatch) - A key lawmaker on Tuesday said he wants to see stronger regulation for the multi-trillion-dollar credit derivatives market, which government observers argue is a significant contributor to financial markets' failure.
  • FDIC to Tighten Interest Rate Restrictions on some Institutions
    Published Tue, Jan 27 2009 11:53 AM by Calculated Risk Blog
    From the FDIC: The Board of Directors of the Federal Deposit Insurance Corporation today proposed for comment a regulatory change in the way the FDIC administers its statutory restrictions on the deposit interest rates paid by banks that are less than...
  • CA Housing Market -Beneath the Headlines / REO Surge to Hit
    Published Tue, Jan 27 2009 11:21 AM by mrmortgage.ml-implode.com
    Beneath the Headlines — the Housing Market is Languishing The chart below shows a CA housing market languishing with ‘organic’ sales (pink) at an all-time low. This, while loan defaults (yellow) – a leading indicator of foreclosures, REO and home price...
  • Case-Shiller: House Prices Fall Sharply in November
    Published Tue, Jan 27 2009 10:54 AM by Calculated Risk Blog
    S&P/Case-Shiller their monthly Home Price Indices for November this morning. This includes prices for 20 individual cities, and two composite indices (10 cities and 20 cities). Note: This is not the quarterly national house price index. Click on graph...
  • WSJ on 'The End of Wall St.'
    Published Tue, Jan 27 2009 10:53 AM by Seeking Alpha
    submits: Speaking of Wall St debacles here is a look at the first of a 3-part online video series from the WSJ titled: "the end of Wall St.", which basically discusses the time period in the fall of 2008 when the Independent Major Investment...
  • WSJ on Fed's Commercial Paper Funding Facility
    Published Tue, Jan 27 2009 10:52 AM by Calculated Risk Blog
    From the WSJ: (hat tip Bond Girl) About $230 billion of three-month debt that the Fed owns, in the form of commercial paper, is set to mature by Friday. The questions are: Will companies like General Electric or GMAC, which issue this short-term debt...
  • Five Reasons Why Fiscal Policy Might Be Completely Ineffective: A Textbook Exposition
    Published Tue, Jan 27 2009 10:51 AM by www.econbrowser.com
    It's been frustrating to me that so much virtual ink has been spilled about why the fiscal package will or will not be effective, with so little clarity. Lots and lots of words are being thrown around, when a lot of the arguments can be summarized...
  • Citigroup says no to $50 million jet
    Published Tue, Jan 27 2009 10:49 AM by rss.cnn.com
    Read full story for latest details.
  • Video: Monitoring the Housing Market
    Published Tue, Jan 27 2009 10:49 AM by www.marketwatch.com
    Delores Conway, real estate economist at the University of Southern California, talks about the state of the housing market with MarketWatch's Stacey Delo. (Jan. 27)
  • Bankers braced for bitter pill of regulation
    Published Tue, Jan 27 2009 10:49 AM by Reuters
    DAVOS, Switzerland (Reuters) - Two years ago anyone uttering the words "state" and "regulation" in the same sentence would have been sneered at in high-powered banking circles gathered by the ski slopes of Davos.
  • Nationalization Gets a New, Serious Look
    Published Tue, Jan 27 2009 10:37 AM by www.nytimes.com
    Only five days into the Obama presidency, members of the new administration and Democratic leaders in Congress are already dancing around one of the most politically delicate questions about the financial bailout: Is the president prepared to nationalize a huge swath of the nation’s banking system?
  • Residential Real Estate Price Freefall
    Published Tue, Jan 27 2009 10:33 AM by feedproxy.google.com
    Case Shiller Index: via More shortly
  • A Refinancing Crunch Emerges
    Published Mon, Jan 26 2009 10:10 PM by Wall Street Journal
    In a world of scarce capital, companies in emerging markets may find themselves fighting for the crumbs.
  • War of words
    Published Mon, Jan 26 2009 10:09 PM by www.economist.com
    Economic tensions between America and China are rising—at exactly the wrong time TECHNICALLY, he is not yet treasury secretary, but Tim Geithner has already made waves in financial markets. In a written response to questions from senators debating his...
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