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Archive for the 'Sub-Prime Mortgage Crisis' Category

The Next Big Bailout

by @ Friday, October 9th, 2009. Filed under Economics, Real Estate, Sub-Prime Mortgage Crisis

Time for all of us to learn about the Federal Home Administration: A year after Fannie Mae and Freddie Mac teetered, industry executives and Washington policy makers are worrying that another government mortgage giant could be the next housing domino. Problems at the Federal Housing Administration, which guarantees mortgages with low down payments, are becoming […]

FDIC Fund Declined 20% In Second Quarter

by @ Thursday, August 27th, 2009. Filed under Credit Crisis, Economics, Sub-Prime Mortgage Crisis

Another sign that the banking crisis isn’t necessarily over: WASHINGTON (AP) — With bank failures rising, the government’s deposit insurance fund fell 20 percent to $10.4 billion in the second quarter, the Federal Deposit Insurance Corporation said Thursday. United States banks also lost $3.7 billion in the quarter. The F.D.I.C. said Thursday that surging levels […]

More Signs Of A Housing Market Rebound ?

by @ Wednesday, August 26th, 2009. Filed under Economics, Real Estate, Sub-Prime Mortgage Crisis

On top of yesterday’s report on the Housing Index, we have news of a strong rise in new home sales in July: Sales of new homes surged nearly 10 percent in July from a month earlier, another indicator that the country’s long-suffering housing market was starting to turn around. The Commerce Department reported that new-home […]

Signs Of A Turnaround In The Housing Market ?

by @ Tuesday, August 25th, 2009. Filed under Credit Crisis, Economics, Real Estate, Sub-Prime Mortgage Crisis

For the first time in two years, home values have actually increased: NEW YORK – A closely watched index shows home prices posted their first quarterly increase in three years, signaling the housing market has turned a corner. The Standard & Poor’s/Case-Shiller’s U.S. National Home Price Index released Tuesday rose nearly 3 percent from the […]

New Home Sales Rise: Another Bubble In The Making ?

by @ Friday, August 21st, 2009. Filed under Credit Crisis, Economics, Politics, Real Estate, Sub-Prime Mortgage Crisis

Call it the real estate version of “Cash for Clunkers”: WASHINGTON – The U.S. housing market is improving quicker than expected, with home resales in July posting the largest monthly increase in at least 10 years, as first-time buyers rushed to take advantage of a tax credit that expires this fall. The National Association of […]

The Republican’s Dumb Plan To Reinflate The Housing Bubble

by @ Thursday, March 26th, 2009. Filed under Credit Crisis, Economics, Politics, Real Estate, Sub-Prime Mortgage Crisis

I’ve written about similar proposals before — see here — but it appears that Congressional Republicans are once again talking about plans to “revive” the housing market. Here’s a summary of the plan from David Freddoso at NRO: 1. A $5,000 tax credit for people who refinance their homes. This is designed to help people […]

The Roots Of The Financial Crisis: The Community Reinvestment Act

by @ Monday, March 23rd, 2009. Filed under Business, Credit Crisis, Economics, Real Estate, Sub-Prime Mortgage Crisis

Slowly but surely, we’re learning more about the factors that helped create the real estate asset bubble that led to our current problems. Earlier this month, I pointed to a 1999 article in The New York Times about pressure that was put on Fannie Mae and Freddie Mac to relax lending standards. Today, Mark Perry […]

FDIC Penalizes A Bank…..For Not Lending Enough

by @ Friday, March 20th, 2009. Filed under Credit Crisis, Economics, Sub-Prime Mortgage Crisis

Apparently, there’s still a penalty for being prudent: Joseph A. Petrucelli is one of the most cautious bankers in America. In fact, Petrucelli is so cautious that the Federal Deposit Insurance Corp. recently criticized his bank for not lending enough. The FDIC’s negative review of East Bridgewater Savings Bank’s loan volume is an anomaly in […]

How It All Began: A Trip In The Wayback Machine To 1999

by @ Friday, March 13th, 2009. Filed under Credit Crisis, Economics, Politics, Real Estate, Sub-Prime Mortgage Crisis

Via Market Power, we find this very interesting New York Times article from September 30, 1999: In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders. The action, which will […]

Jon Stewart Takes Down Jim Cramer

by @ Friday, March 13th, 2009. Filed under Business, Credit Crisis, Economics, Politics, Sub-Prime Mortgage Crisis

It was, in the end, rather easy because Jim Cramer never really put up a fight, perhaps because he realizes what a schmuck he’s been all these years. As I said before, Jim Cramer is not a good poster boy for those protesting the current economic policies in Washington, and this proves why I was […]

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