Posts Tagged ‘subprime lending’
Summer of recovery – July existing home sales at 15-year low
Ouch. Although some analysts suggested July home sales would drop around 12 percent, the figures just in from the National Association of Realtors indicate July existing home sales numbers dropped more than 27 percent.
Read MoreThe Bailout Bust
This is now officially insane, but you just knew is was coming. Touched on this in the show. Last night Neil Cavuto interviewed Professional Home Buyer Jeremy Brandt who said his business is booming because homeowners WHO CAN PAY, are not paying their mortgages, hoping to cash in on the very generous government program…
Read MoreHow does a 4.5% mortgage sound to you?
As I walked through the living room just now, I heard talk of a 4.5 percent fixed rate mortgage on Fox News. Financial industry lobbyists are knocking on Hank Paulson’s door at the Treasury Department with a plan in hand to lower interest rates to help “stabilize” the housing market. Will everyone be able to…
Read MoreRahm Emanuel tied to Freddie Mac – nothing to see here
Just who is Obama’s new chief of staff? I’ve been a bit behind this week in reading due to other commitments, but this afternoon was when I first heard about Obama’s pick. Guess who served on the board of Freddie Mac in 2000 and 2001?
Read MoreThe growing government hand – looking back
M. Jay Wells at American Thinker has put together a time line wrapping together – year by year – how the mortgage crisis happened. It’s a long post, but worth your time this Sunday morning. The piece outlines choices made by our elected leaders – and influence by organizations like ACORN – going back to…
Read MoreConnecticut governor asks banks to help small businesses
Is this not how all of this economic strife started? Connecticut’s Republican governor, M. Jodi Rell, wants local community banks to contribute $1 million each into a lending pool that will provide loans to small business.
Read MoreCar buyers upside down after driving off the lot
I understand that most car buyers are not purchasing vehicles for an investment, but you have to admit that just because you’re upside down in a borrowing situation does not mean that you are unable – or unwilling – to make the payments. When you took the zero down payment plan and drive your new…
Read MoreWalter Williams writes – Lessons from the bailout
Williams has another good column out this week, and it quickly sums up – for those of you who missed it – how this economic crisis started back in 1977 with the Community Reinvestment Act. Walter’s point gets right to the root of the problem. Even though McCain and Obama want to lay the blame…
Read MoreYour local bank is in fine shape, thank you
Earlier today, Chris Dodd – senator from Connecticut and Senate Banking Committee chairman – stopped by the Sheraton Hotel at Bradley Airport to meet with Connecticut business and labor leaders. He hoped the market would react positively to the federal government taking over a good chunk of the U.S. housing market. As of noon ET,…
Read MoreYes, Democrats created housing and financial crisis
I found this earlier today and sent out a quick Tweet on the subject, and Powerline just picked it up within the past few minutes. The basics of the commentary by Kevin Hassett is that although the financial crisis seems quite complex, it’s really not too hard to understand.
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