$700 Billion Bailout Breaking News: Round One Rejected By The House
“The fate of a controversial $700 billion financial bailout plan was in doubt Monday as a House vote turned against it. The next steps were not immediately clear but supporters…
Once Again, We’ll Simply Go With The Worst (In Terms Of The Bailout)
Perhaps it was a bit understated last week when we simply wrote “We’ll Go With Worst” (with respect to Paulson’s proposed $700 billion bailout and approach). But hey, that’s how…
Mortgage Modifications: Short-Term Solution To Long-Term Problem?
The intended impact of lowering mortgage interest rates for IndyMac borrowers who are currently delinquent: “We hope to keep tens of thousands of troubled borrowers in their homes and avoid…
It’s A Good Thing It’s Simply A Subprime (And District 10) Problem…
“Yields on mortgage securities guaranteed by Fannie Mae rose this week to about their highest relative to Treasuries since March amid concern that defaults are spreading to prime and Alt-A…
JustQuotes: The Fed Holds At Two Percent, Withdrawal Yet To Come
“The Federal Reserve kept its benchmark interest rate at 2 percent and signaled that weak employment and financial instability will delay any increase in borrowing costs.” “The Standard & Poor’s…
Have We Had Our “Cathartic Event” Or Are We Simply Late Bloomers?
The relatively good news for California: Across the state, sales rose for three consecutive months starting in April after 30 straight months of declines, the California Association of Realtors said.…
Bill Gross Goes Mooooooo! (And That Graph Should Look Familiar)
An excerpt from Bill Gross’ August investment outlook (simply titled “Mooooooo!”): Here is one asset that all observers can agree is going down in price for justifiable reasons. Maybe not…
Will San Francisco Suffer From Premature Loan Limit Reduction? No.
In case you missed it, some great reader discussion and debate on the potential impact of H.R. 3221: Foreclosure Prevention Act of 2008 yesterday (which passed in the House and…
What’s Twenty-Five Billion Between Three Hundred Million Friends?
The good news, there’s a “better than 50 percent” chance it won’t happen. The bad news, if it does it will “probably” cost taxpayers $25 billion (luckily not each). And…
When We Wrote Watch Your Fannie, We Really Weren’t Kidding
Our headline earlier this week: “You Had Better Watch Your Fannie (As Well As Freddie).” And we weren’t kidding. From Bloomberg this morning: Fannie Mae tumbled as much as 20…