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May 2009 - Around The Web



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  • 'Problem Banks' Soar as FDIC Tries to Ignore Problem
    Published Thu, May 28 2009 3:43 PM by Seeking Alpha
    submits: With the U.S. economy still plummeting downward, and the U.S. banking sector still hopelessly insolvent, the objective of the FDIC appears to be to try to ignore this crisis as much as possible – and hope these problems magically disappear. While...
  • HUD Release: New Residential Sales in April 2009
    Published Thu, May 28 2009 10:03 AM by www.census.gov
    Sales of new one-family houses in April 2009 were at a seasonally adjusted annual rate of 352,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 0.3 percent (±14.5%)* above the revised March rate of 351,000, but is 34.0 percent (±11.0%) below the April 2008 estimate of 533,000.
  • Government Said to Weigh Key Roles For Fed and F.D.I.C.
    Published Thu, May 28 2009 8:30 AM by dealbook.blogs.nytimes.com
    The Obama administration is weighing a plan that would put the Federal Reserve in charge of monitoring systemic risk and give the Federal Deposit Insurance Corp authority to unwind insolvent bank holding companies, Reuters reported.
  • Why Diss Economic Forecastors ?
    Published Thu, May 28 2009 8:29 AM by feedproxy.google.com
    One of the comments in a post yesterday () asked why I am “always dissing on other forecasters?” As noted many times before, I believe . I do try to wargame potential outcomes and various surprises, but that is to anticipate the unexpected — the variant...
  • After the selloff, Treasurys rebound
    Published Thu, May 28 2009 8:28 AM by rss.cnn.com
    The price of government debt rebounded Thursday morning ahead of the last of three major auctions and the day after a massive sell off in the Treasury market that spilled over into Wall Street.
  • Currencies: Dollar mostly higher ahead of new-home sales data
    Published Thu, May 28 2009 8:28 AM by www.marketwatch.com
    The U.S. dollar was higher versus most rivals Thursday as markets awaited further data on the U.S. housing market and weighed the impact of the recent rise in government-bond yields.
  • Markets Will Ultimately Determine Long Term Interest Rates
    Published Thu, May 28 2009 8:28 AM by Seeking Alpha
    submits: Treasuries continued their sell off Wednesday as the yield on the 10 year benchmark bond climbed to 3.72%, a stunning increase from the recent lows just over 2% in late 2008. Investors have become concerned that record amount of debt sales and...
  • Stock futures signal rebound on Wall Street
    Published Thu, May 28 2009 7:11 AM by Reuters
    (Reuters) - Stock index futures pointed to a higher open on Wall Street on Thursday, bouncing back from the previous session's sell-off, as investors digested news that car parts maker Visteon filed for bankruptcy protection, and ahead of key U.S...
  • S&P: U.S. Mortgage Insurers Will Continue To Struggle Through Tough Times In 2009
    Published Wed, May 27 2009 8:44 PM by www2.standardandpoors.com
    The second half of 2009 likely will remain rocky for U.S. mortgage insurers, all of which suffered downgrades in April, with projected losses hurting their operating results, capitalization, and competitive positions, said an article published today by Standard & Poor's Ratings Services.
  • Trading Revenues Help Bank Profits Improve
    Published Wed, May 27 2009 3:07 PM by dealbook.blogs.nytimes.com
    The nation's banks turned a profit in the first quarter, but the number of problem banks jumped to more than 300, the government said Wednesday.
  • Mortgage rescues up in April
    Published Wed, May 27 2009 3:07 PM by rss.cnn.com
    Nearly 270,000 troubled homeowners were issued mortgage workouts in April, according to a industry report released Wednesday. That was up from about 250,000 in March.
  • Assorted Housing Charts
    Published Wed, May 27 2009 2:36 PM by feedproxy.google.com
    A few more interesting Housing related charts: (click or larger/original charts) > Real Estate Changes by State via > Annual versus Quarterly Changes source: > House Price Tracking Adverse Stress Test via
  • Economists React: Home Resales at Bottom, Prices Have Further to Fall
    Published Wed, May 27 2009 2:21 PM by Wall Street Journal
    Economists and others weigh in on . Home sales appear to have hit a bottom but expect only a very modest upswing in coming months. While housing affordability is extremely elevated — reflecting the combined forces of low prices and low mortgage rates...
  • S&P Lowers Rating On Four U.S. Alternative-A and Prime Jumbo RMBS Transactions From 2005 And 2006
    Published Wed, May 27 2009 1:30 PM by www2.standardandpoors.com
    Standard & Poor's Ratings Services today lowered its ratings on 50 classes from four residential mortgage-backed securities (RMBS) transactions backed by U.S. Alternative-A (Alt-A) and prime jumbo mortgage loan collateral issued in 2005 and 2006
  • The State of Real Estate Around the World: No Signs of Stabilization?
    Published Wed, May 27 2009 11:45 AM by feedproxy.google.com
    Today we take a look at the health of and commercial property markets around the world. Slowing economic activity and a credit crunch contributed to a decline in housing activity, prices and construction in most major economies. Eastern Europe and the...
  • J.P. Morgan sees credit-card losses near 9%
    Published Wed, May 27 2009 11:45 AM by www.marketwatch.com
    NEW YORK (MarketWatch) -- J.P. Morgan Chase Chief Executive Jamie Dimon said on Wednesday that he expects the firm's credit card losses, excluding business acquired from Washington Mutual, to be about 9% in the next quarter.
  • Fed Plans Follow-Up to Consumer-Finance Survey
    Published Wed, May 27 2009 11:30 AM by Wall Street Journal
    The Federal Reserve Board is commissioning a of everyone who participated in its most recent . The National Opinion Research Center at the University of Chicago , which conducts the triennial survey, will re-interview each person that responded to the...
  • Rent-to-own makes a comeback
    Published Wed, May 27 2009 11:30 AM by rss.cnn.com
    Leasing a TV may sound like the type of scheme cooked up by college students and others suffering from cash-strapped fever. But renting to own ordinary household items is expanding to more mainstream consumers. Just ask the folks at Aaron's, the Atlanta...
  • Problem U.S. banks jumped to 305 in first quarter: FDIC
    Published Wed, May 27 2009 11:14 AM by Reuters
    WASHINGTON (Reuters) - The number of problem U.S. banks and thrifts rose to 305 in the first quarter of 2009, up 40 percent from 252 in the prior quarter, marking the highest number since 1994, the Federal Deposit Insurance Corp said on Wednesday.
  • The Backwards Credit Card Model
    Published Wed, May 27 2009 10:15 AM by Seeking Alpha
    submits: Every time I travel by Delta I get some air miles, which is a reward for being loyal and profitable to them. If I buy stuff worth $50 from Kohl’s, they give me $10 in Kohl’s cash. Panda Express has given me some kind of a discount card, which...
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