TommyG

Wall Street Breakfast: Must-Know News

Doubleguns: Yes a revamped tax structure would fix a lot of ills but the scum in both houses won't let the their special interests get hurt. Meanwhile; is it too much to ask that everybody pays their share under the law, however flawed it may be.

Bank of New York and Bank of America vs. AIG: No Winner in Sight

While not condoning any action that Countryside/Bof A or any other lender took or allowed, if the people in charge at UG who guaranteed the mortgages didn't do any kind of due dillegnce on what they were guaranteeing they deserve to go down. It couldn't have been that tough to figure out. They could have put an end to the BS but they were as greedy as the rest.

Wall Street Breakfast: Must-Know News

Paulson and others threatened BofA within an inch of thier lives to do the deal no matter what. But we'll never know. The Devil indeed!

Real Estate Has Hit Bottom? Not Even Close

It has been shown that loan to value had little effect on ability to pay a mortgage. I would support a government program that allows a re-fi if payments are current but the re-set will bury the payor. As for the rest, clear out the market and stop flushing tax payer dollars on programs that fail. And somebody stop Barney Frank and his ilk from continuing to push Fannie, Freddie and FHA into supporting bad loans.

U.S. Government Paying Homeowners to 'Walk Away'

Total Crap and not of the caliber I expect on this website.

The Wonders of Mark-to-Market: Simultaneously Well-Capitalized and Insolvent

Good op/ed piece in WSJ today on this subject by Steve Forbes. "Obama Repeats Bush's Worst Market Mistakes". Suspend MTM, put the "uptick" rule back in and end Naked Short Selling.

Three Strikes Against Home Buyers

If idiots would stop looking at their personal home as an investment it would help. If you have the down payment, you can afford the monthly PITI and maintenance, the home meets you needs as shelter, then buy the damn thing!

Wall Street Breakfast: Must-Know News

I sent Eddie64's list to my congressman, others should do likwise, Thanks

John Hussman: Can the Emergency Housing Bill Be Fixed?

ASG, I believe you are correct, bought both Fanny and Freddie. I don't believe they'll need to borrow. Not that they were the most well managed company around, the lobbying they do is disturbing. They need to reduce assets, shore up capital a bit. New mortgage bond program may ease some of the pressure they have to lend.

Why Oil Tripped as Fannie & Freddie Survived

His/Her lips are moving. Mark to Market is killing the financials, don't see why it has to be. An asset (loan) is impared if it's not performing, not because someone decides not to buy it. Look at how large corps value their A/R and reserves for bad debt. Fannie and Freddie have performing portfolios and could raise large sums by reducing the amount of loans they make.

Fannie & Freddie: Myth vs. Reality, Part 2

Bought a modest amount of both, the GAAP mark to market has created large opportunities in financials.

Barron's: The Subprime Crisis May Be Over [Housing Tracker]

Next comes the defaults on auto loans as people abandon their gas guzzlers, then the credit cards

Foreclosures Prove Loan Modification Isn't Working

Banks are cutting their noses to spite their faces if they don't work with people seeking help. But I'd rather see a forclosure than some gov. bailout that comes out of our pockets. Who were the idiots who lent to the guy in N Cal the money? Boo Hoo Hoo.

How Long Until the Housing Market Recovers?

We bought our first home with help from family, suspect there are a lot who do. We're also looking at a huge wealth transfer as parents from "The Greatest Generation" and some "Boomers" pass on and leave funds to familys. Won't help all but a large number. The government should set up tax free home down payment accounts for first time buyers.

A Few Crumbs of Good Housing News - Housing Tracker

Get rid of Moonscopes rants or risk losing readers. Nobody cares dude.