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May 2009 - Around The Web



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  • BankUnited Collapse Biggest Failure 2009 | Problem Bank List
    Published Fri, May 22 2009 8:58 AM by www.topix.net
    The failure of BankUnited, FSB is the largest banking collapse of 2009 and marks the 34th FDIC insured bank to be added to the Failed Bank List.
  • Realty Q&A: Expanding home-buyer tax credit to all is on table
    Published Thu, May 21 2009 9:07 PM by www.marketwatch.com
    Is there any possibility that the tax credit for first-time home buyers will be expanded to also include repeat purchasers who already own a house but would like to move up?
  • PIMCO's Gross: U.S. at risk of losing top AAA rating
    Published Thu, May 21 2009 9:07 PM by Reuters
    NEW YORK (Reuters) - Bill Gross, manager of the world's biggest bond fund, warned on Thursday the United States will eventually lose its top AAA credit rating, a fear that had already spooked financial markets on Thursday and could keep the dollar...
  • BankUnited fails; private equity snaps up assets
    Published Thu, May 21 2009 6:48 PM by www.marketwatch.com
    BankUnited Financial, the largest lender based in Florida, is shut down by banking regulators and sold to a group of private-equity firms.
  • The Persistent Effects of a False News Shock.
    Published Thu, May 21 2009 5:31 PM by www.newyorkfed.org
    Carlos Carvalho, Nicholas Klagge, and Emanuel Moench. The Persistent Effects of a False News Shock. Federal Reserve Bank of New York Staff Reports Staff Report Number 374, May 2009.
  • Market and CAMELS
    Published Thu, May 21 2009 5:00 PM by Calculated Risk Blog
    Here are a couple of market graphs from Doug (the 2nd one is new - the mega bear quartet in real prices), and an excerpt from CFO Magazine There was a significant bond sell-off today - probably because of concerns () credit ratings. Click on graph for...
  • Freddie Mac Rates Survey for Week ending May 21, 2009
    Published Thu, May 21 2009 5:00 PM by www.freddiemac.com
    MORTGAGE RATES FLAT THIS WEEK THANKS MAINLY TO ACTIONS BY TREASURY AND THE FED McLean, VA - Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged...
  • New York Fed purchases $7.398 billion in Treasury coupons
    Published Thu, May 21 2009 4:14 PM by tinyurl.com
    New York Fed purchases $7.398 billion in Treasury coupons
  • U.S. Treasury Secretary Geithner to Attend G-8 Meeting
    Published Thu, May 21 2009 3:59 PM by US Treasury
    May 21, 2009 TG-142 U.S. Treasury Secretary Geithner to Attend G-8 Meeting of Finance Ministers in Lecce, Italy, June 12 -13 WASHINGTON – The U.S. Department of the Treasury today announced that Treasury Secretary Geithner will travel to Lecce, Italy...
  • California Bay Area Home Sales: "Robust" and "Anemic"
    Published Thu, May 21 2009 3:59 PM by Calculated Risk Blog
    The tale of two cities continues ... From DataQuick: Bay Area home sales posted a year-over-year gain for the eighth consecutive month in April, with robust sales in lower-cost inland areas once again compensating for anemic sales on the coast . ... A...
  • CBO: GDP Shortfall to Remain Until 2013
    Published Thu, May 21 2009 2:26 PM by Wall Street Journal
    Congressional Budget Office director Douglas Elmendorf , in , backs the most pessimistic forecasts for joblessness — expecting the unemployment rate to top 10% next year. While the economy will resume growth in the second half of this year, “the hardships...
  • Housing: Playing Games with Appraisals and Value
    Published Thu, May 21 2009 2:26 PM by Seeking Alpha
    Tom Lindmark submits: I’m starting to see a lot of this, so I thought it worth a short blog at least. Now that houses are starting to sell, at least at the cheap end, there’s a lot of talk about value and how foreclosure sales are not representative of...
  • Credit cards in America: Knocked off balance
    Published Thu, May 21 2009 1:24 PM by www.economist.com
    A once-glittering business loses its shine CREDIT-CARD borrowers who roll over a portion of their balance each month are known as revolvers. These days lenders are in a spin as they struggle to cope with write-offs, a regulatory crackdown and changes...
  • The world's best banks: A short list
    Published Thu, May 21 2009 1:24 PM by www.economist.com
    As the dust starts to settle, which banks deserve the most plaudits? TRYING to work out which banks are the world’s best is a bit like awarding the prize for prettiest war-torn village. It is a title that carries little kudos. It is also likely to prompt...
  • Future Fed Debt Buying Not a Foregone Conclusion
    Published Thu, May 21 2009 12:22 PM by Wall Street Journal
    Economists are warning bond investors not to get carried away by news the Federal Reserve is thinking about boosting its future purchases of Treasury and mortgage debt. Right now, the central bank is embarked on a radical effort to lower borrowing costs...
  • Freddie Mac Purchases $37.5 Million Loan from CBRE
    Published Thu, May 21 2009 11:43 AM by www.freddiemac.com
    Through CME, Freddie Mac buys conventional mortgages backed by stabilized apartment buildings from its lender network. Depending on market conditions, Freddie Mac will either pool the loans, securitize them through a broker/dealer and sell them in the commercial mortgage-backed securities market; or securitize them and hold them in its portfolio for future sale.
  • Treasury prices edge higher
    Published Thu, May 21 2009 9:03 AM by rss.cnn.com
    Government debt prices rose Thursday as investors await the next buyback by the Federal Reserve and digested the central bank's gloomy economic outlook.
  • FHA Now Has 100% Plus Financing | Mortgaged Future
    Published Thu, May 21 2009 9:02 AM by www.topix.net
    The American Recovery and Reinvestment Act of 2009 , passed early this year, provides up to an $8,000 tax credit for first time home buyers. The tax credit refund would be given to the home buyer after filing the 2008 or 2009 tax return.
  • Is the Time REIT for Real Estate ETFs?
    Published Thu, May 21 2009 9:01 AM by Seeking Alpha
    submits: As a result of the seemingly endless decline in the U.S. housing market (we're nearing the three year mark for the current downturn), most on the market have been posted huge losses since 2007, with many still down more than 50% from their...
  • Realty Income: Prudent Management, Justified Premium?
    Published Thu, May 21 2009 9:01 AM by Seeking Alpha
    submits: Business Summary: Realty Income Corporation (O) is an REIT that focuses on sale-leaseback deals. This is where a business, such as a restaurant or convenience store chain, raises capital by selling the land and buildings used to conduct the firm...
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