WRONG! Personal Housing is not something your going to get rich off of, when all your doing is buying a place to live. Housing collapsed because it outpaced the rate that wages were going up. It doesn’t take much to figure out the math. *Buying rental property is an investment
“I really can’t afford it right [...]
I’ve been poor and never once considered throwing myself in front of a train or stealing to get the job done. the richest are often the most fragile and hollow. Rich people dont know how to live like a poor person. in his case ‘ SHAME DOES KILL’
German billionaire said to commit suicide after [...]
The Government can monitor the incomes and finances of 300+ million Americans and maybe 5+ million businesses but can not determine how 208 banks used $162 billion of which most was given to 20-30 banks? This is utterly preposterous. I think the more likely explanation is the Treasury does not want the public to know [...]
When I started out as a banker over 30 yrs. ago, there were only 3 ‘types’ of real estate loans, 1) conforming whereby the bank would only loan the lesser of 80% of the purchase price or the appraised value and the difference had to come from one’s personal savings account which had to be [...]
1945 - 1995
Lenders required strict lending standards because the loan remained on their own books. No one wanted to buy risky loans.
1996 - 2007
Lenders loosen lending standards because they can. They can now sell the risky loans they write so the risk is on someone else’s books.
2008 - foreseeable future
Lenders require strict lending standards because [...]
The Fed is trying to stimulate buying by the consumer by just increasing the money supply through the banking system. THAT WILL NOT WORK.
The problem here is credit worthiness of the consumer which is trickling up to businesses. Banks have restricted credit to only those with very high credit scores no matter how low interest [...]
LONDON (MarketWatch) — The London interbank offered rate, which banks charge each other for short-term loans, fell Wednesday — a day after the U.S. Federal Reserve dropped interest rates to historic lows. Three-month Libor fell to 1.58% — the lowest since July 2004 — from 1.85% on Tuesday. Libor spiked higher this fall as banks [...]
Madoff runs a $50B ponzi scheme that promises 8%-10% more than he has deposits and he goes to Federal prison.
Citi Group runs a $3T ponzi scheme that promises 40x more than they have deposits and they get a $300B check cut at 3am on a Sunday morning and the FDIC to print what they cannot [...]
Major banks on the edge of collapse.
Auto industry facing bankruptcy.
Retail sales plummeting.
Unemployment numbers accelerating.
Housing market crumbling.
Ponzi schemes making a comeback.
Major retailers filing for BK.
Stock market down almost 50% from the highs.
Treasury notes yielding Zero.
Credit Default Swaps over 5 times GDP looming out there.
Commercial real estate market starting to crack.
(Did I forget anything?) Oh ya, $8 [...]
1. A number of banks that received TARP funds did so only because the Treasury and Fed insisted that they accept these funds. Is it reasonable to suggest that these banks, that did not want to participate in TARP, undertook some special obligation to make loans when they accepted TARP funds?
2. The Treasury, in exchange [...]
Our government, and the corporations and banks that control them, endlessly beat into us the “importance of money”, first through flooding the market with easy money, then by withdrawing it.
Boom and bust.
The neverending pillaging of the working/middle class.
Did you earn something?
Don’t worry, first we’ll make your assets worthless, then we’ll inflate your currency to worthlessness, [...]
Giving Federal money to Detroit to become more competitive is like performing brain surgery through the anus!
The long way to get at the problem and lots of poops blocking the way. It is possible that it will happen for the next couple of weeks.
I see no reason to be optimistic about anything beyond that. The [...]
Labor leaders in Detroit hailed the announcement by the administration.
“I think it’s great news, the responses we’ve been getting out of the White House and the Treasury,” said Ron Gettelfinger, the president of the United Automobile Workers union. “It’s important for the White House to exert their influence to release this money as quickly as [...]
“The asset (note and mortgage) is sold to someone else. They may pay 50 cents on the dollar, but you still owe the full amount. That’s how the FDIC fund is not totally ravaged. Then if you don’t pay them, they foreclose.”
I’m not talking about what bankers actually do, I’m talking about real contract law, [...]
The Government Accouting Office, GAO, is the logical Agency to find out exactly the condition of all Bank (and AIG) OWNED Derivatives and other instruments. Currently all the BANKS Derivative assets have not been identified and no effort has been made to identify market values, yet Paulson and Kashkari are throwing Hundreds of Billions at [...]
Stumble It!