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phxcrane

phxcrane
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  • Chatter about an Obama plan for mass mortgage refinancings heats up again, with speculation the President might appoint a "housing advocate" as head of the FHFA, whose current chief has been lukewarm about such an operation. The administration could get their "own man" in there without Senate approval using the same sort of recess appointment just used to install the head of the CFPB.  [View news story]
    Start the impeachment now.
    Jan 5 01:03 PM | 9 Likes Like |Link to Comment
  • Obama's attempts to move to the political center have been all talk, former GE CEO Jack Welch tells CNBC, citing Obama's recent decision permitting Transportation Security Administration employees to unionize. On public sector unions overall, Welch says comparing the rights of public workers with private is "like comparing giraffes and cats... they're two different arguments."  [View news story]
    Unions are not about middle class families. There about unions and the money they give to the Democrates. Less then 12% of working class Americans are unionized. Less then 7% if you take out government employees. How does such a small percentage get such a big voice. Its the money. They rest of us have to pay for them.
    Mar 1 07:32 PM | 9 Likes Like |Link to Comment
  • Barron's Andrew Bary says Wall Street's reaction to the Goldman Sachs (GS) fraud charges is overblown. "Patient buyers of Goldman stock probably will come out ahead, given the company's low valuation and the likelihood that even a defeat at the hands of the SEC probably will be financially tolerable."  [View news story]
    I once again have to thank the Obama administration. I hope they can beat GS down to around 150. They did the same favor for me with the Swine Flu scare. The Don't drive your Toyota scare. Now its GS turn. Keep them coming I will be able to retire earlier then anticipated. It was just a coincidence that the announcement came while the market was open. Oh Yea aren't they trying to get a financial regulation bill passed? Just a coincidence Im sure. ROTFLMAO all the way to the bank.
    Apr 17 07:07 PM | 9 Likes Like |Link to Comment
  • The Obama administration is expanding eligibility for its Home Affordable Modification Program, known as HAMP, to borrowers with higher debt loads and tripling the incentives it pays banks that reduce principal on loans. Some of the changes include expansion of eligibility to borrowers with less than 31% equity, rental property owners and Fannie and Freddie if they allow servicers to forgive principal on HAMP modifications.  [View news story]
    I wonder how much per vote that works out to?
    Jan 27 06:59 PM | 8 Likes Like |Link to Comment
  • Energy emerges as one key from the State of the Union address, with President Obama launching clean energy projects on public lands, calling for efficiency initiatives, and directing the Defense Department to buy plenty of clean energy. On the 99%-vs.-1% front, he put a number to a tax-reform "Buffett rule": If you make more than $1M a year, you should not pay less than 30% in taxes. S&P 500 e-mini futures slightly lower, +0.25%. (policy proposals summarized)  [View news story]
    Political commercial paid for by the taxpayers.
    Jan 24 10:54 PM | 8 Likes Like |Link to Comment
  • Citigroup next target for government after JPMorgan? [View news story]
    I'm sure its just a coincidence that a huge contributor to the Democratic party is the trial Lawyers.
    Sep 30 12:28 PM | 7 Likes Like |Link to Comment
  • Fisker Automotive, the struggling government-backed hybrid sports car maker, terminates 75% of its staff in what sources said was a last-ditch effort to conserve cash and stave off a potential bankruptcy filing. The company, which raised $1.2B from investors and tapped nearly $200M in government loans, has only around $30M in cash remaining. About 160 workers were fired at a Friday morning meeting at its Anaheim, Calif., headquarters, and were told that the company couldn't afford to give them severance payments. [View news story]
    I'm Shocked. LOL
    Apr 5 08:56 PM | 7 Likes Like |Link to Comment
  • Amid conjecture that GM may be sliding to a second bankruptcy, Ford (F) didn't ask for government help and its stock has suffered as a result. "If I was a Ford shareholder, I would be mad about GM's taxpayer funded bailout," Robert Weinstein writes, but "I would be livid about owning a stock knowing that my taxpayer money was used to depress my stock price." [View news story]
    Just one reason UAW.
    Aug 22 09:25 PM | 7 Likes Like |Link to Comment
  • "We are losing our shirts" on natural gas, ExxonMobil (XOM +0.7%) CEO Rex Tillerson says, maintaining that current natural gas prices are not sustainable for the energy industry to continue to cover the cost of finding and producing new supplies. Tillerson also argues the effects of global warming are "manageable," and current warming models aren't accurate.  [View news story]
    Show me where science has been able to predict anything long term with any accuracy. Nasa can not even tell you where there debris is going to come down. Weather can't be predicted with any degree of accuracy except for short periods of time. There is a better statistical probability that there models are wrong then that their right.
    Jun 27 10:25 AM | 7 Likes Like |Link to Comment
  • President Obama's advance team might want to do a little more fact checking next time they send the president out with the housing crisis' latest "victims" to tout home refinance. The president visited a Nevada couple on Friday, describing them as “responsible” homeowners who owe more on their mortgage than it's currently worth. The fact is, the couple did a cash-out refinance in 2007, borrowing $178K off the equity in the home. Had they not taken that money out, and continued paying on the original mortgage, they would not be underwater today.  [View news story]
    Want to bet the press will downplay this.
    May 11 04:49 PM | 7 Likes Like |Link to Comment
  • Krugman on Right Track With Chinese Tariff [View article]
    I wish Krugman would just shut up!!!! Maybe when the NY times goes bankrupt. One could only hope.
    Mar 15 04:28 PM | 7 Likes Like |Link to Comment
  • Feds investigating Carl Icahn, Phil Mickelson for insider trading [View news story]
    I'm sure its a coincidence that Phil was quoted by all the news media on his thoughts and complaints about the administration and the amount of taxes he pays. People familiar with Chicago politics are not surprised.
    May 31 11:43 AM | 6 Likes Like |Link to Comment
  • BofA slips amid leak of massive global mortgage settlement [View news story]
    Two More years of this nonsense. I just hope the country can hold up until then.
    Apr 25 08:53 AM | 6 Likes Like |Link to Comment
  • Apple announces 7:1 split, ups dividend and buyback plan [View news story]
    If you really believe what u wrote. Please don't invest your own money.
    Apr 23 04:45 PM | 6 Likes Like |Link to Comment
  • President Obama will again outline how he will attempt to forge a lasting economic recovery in his State of the Union address on Tuesday. Obama's blueprint will be built around manufacturing, energy and education, and will reportedly include proposals to make college more affordable, address the housing crisis, and hike taxes on the rich.  [View news story]
    Unless he is going to tell everyone he is resigning. There is not much chance for the economy. Unless you count the hundreds of millions he will spend on his campaign.
    Jan 22 10:24 AM | 6 Likes Like |Link to Comment
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