Blowing the Lid Off the Mortgage Industry
From the category archives:
MISH’S Global Economic Trend Analysis - Treasury To Delay Reporting Bank Stress Test Results
The Big Picture - Geithner Addresses Mortgage Fraud
Pro Publica - Does AIG Really Need to Pay Its Counterparties in Full?
Deal Journal - Evening Reading: Blankfein Jumps on Bonus Outrage Bankwagon
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Paper Economy - Effervescent Equity: The Federal Reserve’s Household Equity Estimate Q4 2008
Huffington Post - Bernie Madoff’s Jail Cell At Metropolitan Corrections Center
Calculated Risk - S&P: Delinquencies Surge for HELOCs and Jumbo Prime Loans
Pro Publica - Bailed Out Bank Had Friends in High Places
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While there’s been plenty of colorful and lively commentary here at Blown Mortgage regarding the necessity of the mortgage bailout, all points are pretty much moot. It’s been passed, and it’s going into effect, so the only thing to do now is to hope it does well and helps to achieve its goals. These include [...]
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How’s your market holding up? The New York Times has graphed the Case-Shiller Index for home prices across the U.S. in the Case-Shiller markets. They’re all ugly. Here’s Los Angeles and San Francisco for us Californians. Check out the charts on NYTimes.com for your market.
Note that both San Francisco and Los [...]
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American Express is looking for any way to get rid of additional credit exposure by paying current card holders $300 to cancel their credit card account. That’s right, paying to get rid of card holders. They’re doing it via a targeted “promotion” that select members will receive in the mail. If you get this offer [...]
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It’s been blatantly obvious for some time now that our credit-fueled prosperity party has now come to a rather abrupt end. The fallout from such a house of cards collapsing has been felt by just about every sector of the economy and almost every consumer. Those of us that still have jobs are busy putting [...]
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Americans lost more, in terms of home values, during the final quarter of 2008 than in all of 2007. According to Zillow Real Estate Markets Report, home values fell 11.6 percent or $1.4 trillion during the eighth consecutive quarter of declines.
The declines mean that U.S. homeowners lost a cumulative $3.3 trillion in home values during [...]
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Inquisitor: Spend Taxpayer Dollars With The Bailout Game - New online Bailout Game! Play HERE.
Calculated Risk: Regional Banks: Marshall & Ilsley Posts Large Loss - More trouble for regional banks.
Naked Capitalism: Mother-In-Law Research & JP Morgan - Chase may not be as desperate as it appears.
Cassandra Does Tokyo: Ethics Exam - Ethical Assessment Examination for Financial Professionals.
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I’m so excited to announce that we’ve started the podcast series up again on Blown Mortgage. After a year hiatus we’ve got some great interviews for you coming up, including our first of the year with Yves Smith of Naked Capitalism. Yves is a highly-regarded thought-leader on the current economic crisis, and her [...]
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The Internal Revenue Service (IRS) is giving struggling American homeowners a gift this holiday season. No, they aren’t canceling homeowners’ tax debt. They are, however, making it easier for distressed homeowners to avoid having a federal tax lien block the sale or refinancing of a home. They are also expediting the process for requesting a [...]
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