lindlou

Florida Shuns MBIA and Ambac Insurance, Lowering Costs - Housing Tracker

Just one question--if I make a loan to someone who would not qualify for any type of traditional loan in the first place and has no intention of paying on it once it resets, and then I package this loan, label it AAA and pass it on to some other institution who really is being "unfairly targeted" here? Make that two questions, I guess---If I am this individual that gets a loan I really do not deserve and then I skip out on this loan once it resets, how can you call this a "high cost loan"? The loan was most likely very low cost while they were actually paying on it, in exchange for somewhere to live that was alot cheaper than rent by comparison. When it became high cost they walked away. The only people that I can see that are being "unfairly targeted" are the american taxpayers who will pay for this mess for many years to come!

Foreclosures Prove Loan Modification Isn't Working

Come to Michigan, especially the Detroit Metro area, if you don't believe we're in a recession. To comment on the article, I think the reason that loan modification isn't working is that alot of people who have the loans out are investors/speculators and modification isn't an option for them. Check out this article www.reuters.com/articl... from Reuters ("California Man Losing Nine Homes In Mortgage Mess" 5/11/2008)--this nitwit is skipping away from 9 properties in 3 States and is only bummed that he won't be able to keep his beach house. Time to bring back debter's prisons!

Many Investors Seem To Think the Worst Is Over

So now, with the calls for "transparency" we go from smoke & mirrors to just plain old smoke.

Large OTC Markets + Excessive Leverage + FVA = Systemic Risk

"How does a concept like FVA, which depends upon a certain degree of good faith by all market participants, operate in such a deliberately dishonest environment?"
I think this quote from the article sums it all up. When corruption reaches this level the damage is irrepairable.

Shiller at BAAS: Housing Will Continue to Fall

Some pain, maybe--but not quite as much as the little guy. And they will assuredly get much more help than the little guy. Just go on Bankrate.com's mortgage calculator and after you run your amounts, a helpful hint pops up at the top that says: "If you are seeking a mortgage in excess of $417,000, recent legislation may enable lenders in certain locations to provide rates that are different from those shown in the table below. We recommend that you contact your lender directly to determine what rates may be available to you." I would presume that the "different" rate they are talking about would be much lower than the rate the average person would receive. Why is congress setting up programs to help people with mortgages in excess of $417,000 get better rates?

Barney Frank's 'Subprime Relief Plan' May Make a Bad Situation Worse

Possible that they actually read or think? I'm doubtful.

Getting Ready: Q1 Statement 157 Disclosures

We should absolutely trust them to report everything in an honest & forthright manner--they have done such a stellar job of this to date. Why should we think that these paragons of virtue would try to jump through this large loophole and not fairly value thieir assets?

The Credit Bubble: Deregulation Gone Wild

I think it's time that we called this what it really is--criminal behavior. I am sick of hearing debates about whether something was a "moral hazard" and if it was "ethically correct". The way to stop this is to go all of the way back, reinstate Glass-Steagall and all of the other depression-era regulations and start from there. I think the possibility of a long prison sentence might be the only thing that will change the behavior of some of these corporate criminals.

Backroom Bear Stearns Deal Exposed

To me, it seems there is much too much collusion between the Fed and the private industry they are supposed to be supervising. I never see mention of the fact that JP Morgan Chase CEO Jamie Dimon holds a seat on the Federal Reserve Bank of New York's board. If this isn't a severe conflict of interest, especially when this is the organization that is deciding if your company can purchase another company for pennies on the dollar, I don't know what is.