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7footMoose

7footMoose
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  • Where Is the Foreclosure Mess Leading? [View article]
    Try using "opinion" in lieu of "facts" since you are not citing facts. You may have any opinion you like but the "facts" on many of these matters are yet to be revealed.
    Oct 10, 2010. 05:25 PM | 1 Like Like |Link to Comment
  • Considering many Chinese manufacturers have profit margins of just 2-3%, economists say Premier Wen's warning last week that a sharp yuan revaluation could trigger widespread unemployment and destabilize global economies is no empty threat.  [View news story]
    Tom,
    Do you think that Americans really know what is happening over here? If you do and you are so inclined please inform the President because he does not appear to understand that unemployment is at the heart of the most pressing economic problems of this country.
    Oct 10, 2010. 06:21 AM | 5 Likes Like |Link to Comment
  • Tim Geithner bids TARP farewell by debunking five TARP 'myths': (1) That TARP cost hundreds of billions (ok). (2) That TARP was a gift for Wall St., not Main St. (hmm...). (3) That TARP was a quick fix (wasn't it?). (4) That the banking sector is even more vulnerable now to systemic risk (?). (5) That TARP was a Republican ploy to take over the economy.  [View news story]
    And who might you promote to replace Timmy?
    Oct 10, 2010. 06:16 AM | 2 Likes Like |Link to Comment
  • Where Is the Foreclosure Mess Leading? [View article]
    Gary,
    Try to consider the possibility that every banker and every Wall Street investment house is not solely focused twenty four hours a day on screwing you.
    I hope you have a good day, someday, so you can rid yourself of all of the venom in your system.
    Oct 10, 2010. 05:37 AM | 1 Like Like |Link to Comment
  • Where Is the Foreclosure Mess Leading? [View article]
    I think once the 40 State AG's understand that empty houses pay no income taxes and squatters pay no property taxes and yet they still consume services then something will be done. While this is certainly unseemly and some is likely to be fraudulent much of this is a lack of a proper legal paper trail. Besides the states who are in bad financial shape consider the impact on the title insurers who will eventually eat some of this toxic sludge because they did insure many of these potentially defective titles.
    Oct 10, 2010. 05:31 AM | Likes Like |Link to Comment
  • A recent survey showed that 23% of AT&T (T) iPhone users would switch to Verizon (VZ) if given the chance. But iPhone (AAPL) owners should think twice before jumping ship: Verizon's CDMA network means customers can't surf online while talking on the phone, won't be able to use their phone as broadly internationally, and will chew through their batteries faster.  [View news story]
    Let's hope 20% switch then there will be adequate capacity on the AT&T network and those of us who stay will have the great experience we have been paying for.
    Oct 9, 2010. 05:36 PM | 1 Like Like |Link to Comment
  • Thirty companies and groups, including McDonald's (MCD) and Jack in the Box (JACK), receive waivers from raising the minimum annual benefit included in low-cost health plans for part-time or low-wage employees. The new health care law would have required the firms to provide a minimum of $750,000 in coverage in 2011, $1.25M in 2012, $2M in 2013, unlimited in 2014.  [View news story]
    Man it's the weekend, have an adult libation and enjoy the outdoors, but no driving or investing after imbibing.
    Oct 8, 2010. 03:31 PM | Likes Like |Link to Comment
  • Meanwhile, Gallup's not seasonally adjusted measure of unemployment jumps to 10.1% in Sept. from 9.3% in August and 8.9% in July. Much of the increase came during the second half of September, and is therefore unlikely to be picked up in the government report.  [View news story]
    If this is correct it will not be discussed by the Administration until after the elections. Unemployment is the single most important issue for this election and the Administration has refused to even discuss it other than trying to blame Bush for all of the country's woes past, present and future. There have been no substantive proposals from the Administration to create private employment.
    Oct 8, 2010. 08:59 AM | 1 Like Like |Link to Comment
  • "Smoot-Hawley, here we come," Robert Reich writes, as deficit hawks sure to gain ground after mid-term elections will kill chances of stimulating the economy, making free trade a "sitting duck" in an atmosphere where the ground troops for both parties - tea party Republicans and union Democrats - believe free trade is bad.  [View news story]
    When are we going to stop blaming other countries for the mess we have created for ourselves? Get up America and kick the living crap out of your elected officials. They are the problem. No matter which party they are part of they are the problem if they do not act in the best interest of America. It's about time they served Americans and not their own financial interests. We need to take back our country from the greedy asswipes we have elected into office.
    Oct 7, 2010. 08:21 PM | 5 Likes Like |Link to Comment
  • The Fed needs to pump at least $6T-$7T more into the U.S. economy to have any meaningful impact on sluggish growth, Marc Sumerlin tells CNBC, adding to earlier remarks from Pimco's Mohamed El-Erian. Sumerlin also believes the U.S. will slip back into recession if the Bush tax cuts aren't extended beyond this year.  [View news story]
    The question to be answered by all is," Do you want to live in America or do you want to live in some Third World Socialist country?" Rewriting laws to suit the whims of the Left is something Chavez and Castro do. In America "you buy it you own it." You need to take responsibility for your mistakes. In every legitimate mortgage loan made in this country there is a HUD form commonly known as a RESPA ( Real Estate Settlement Practices Act) form required to be completed and signed by the borrower prior to closing. If it does not exist then the loan is null and void, no harm no foul to the aggrieved borrower. If it is there and it is signed then the borrower has had an opportunity (three day rescission period) to investigate the terms of the loan and reject it if it is a scam. If you choose not to read and review the RESPA form shame on you. This is the law. If you are screwed then consider that fact that you have screwed yourself by not reading the documents.
    Oct 7, 2010. 08:07 PM | Likes Like |Link to Comment
  • Thirty companies and groups, including McDonald's (MCD) and Jack in the Box (JACK), receive waivers from raising the minimum annual benefit included in low-cost health plans for part-time or low-wage employees. The new health care law would have required the firms to provide a minimum of $750,000 in coverage in 2011, $1.25M in 2012, $2M in 2013, unlimited in 2014.  [View news story]
    These kinds of things happen when you pass 2300 page laws without reading them much less understanding them.
    Oct 7, 2010. 03:24 PM | 1 Like Like |Link to Comment
  • The Fed needs to pump at least $6T-$7T more into the U.S. economy to have any meaningful impact on sluggish growth, Marc Sumerlin tells CNBC, adding to earlier remarks from Pimco's Mohamed El-Erian. Sumerlin also believes the U.S. will slip back into recession if the Bush tax cuts aren't extended beyond this year.  [View news story]
    I'm not sure he said we should do it only that that is what it would take to change the status quo.
    Oct 7, 2010. 02:59 PM | 2 Likes Like |Link to Comment
  • Fitch downgrades Ireland, cutting its rating to A+ with a negative outlook. Moody's has threatened a rating cut as well. [WSJ]  [View news story]
    Where were these ratings agencies when it could have helped? Anyone can downgrade a situation after the cow has left the barn and been slaughtered by a pack of wolves. Fitch, Moody's and S&P are doing no one any good and need to be put out of our misery.
    Oct 6, 2010. 07:31 AM | 1 Like Like |Link to Comment
  • "The banks caused the crisis [and] barely have missed an opportunity to make it worse," Brett Arends says of the robo-signing scandal. "They don't know what’s going on in their own businesses." At best, we'll need more time, money and pain before housing recovers. At worst, the U.S. may be sliding towards a "banana republic... of dubious legal protections." Yep, the banks have done it again.  [View news story]
    NYT
    September 30,1999
    FannieMae EasesCredit To Aid MortgageLending
    By STEVENA, HOLMES
    ln a move that could help increase homeownership rates among minorities and low-income consumers, the FannieMae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.
    The action,which will begin as a pilot program involving 24 banks in 15markets-- including theNew York metropolitan region--will encourage those banks toextend home mortgages toindividuals whose credit is generally not good enough to qualify for conventional loans. FannieMae officials say they hope to make it a nationwide program by next spring.
    FannieMae,the nation's biggest underwriter of home mortgages,has been under increasing pressurefrom the Clinton Administriaton to expand mortgage loans among low and moderate income people.

    You can read the rest on line is you choose to truly research the facts. New York Times 09/30/1999
    Oct 6, 2010. 06:24 AM | 1 Like Like |Link to Comment
  • Banking on a Rebound? [View article]
    What country are you living in and what country are you talking about because you are not correct in you knowledge of US banks.
    Oct 6, 2010. 06:11 AM | 1 Like Like |Link to Comment
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