Posted on December 11th, 2007 by Pamela Leavey
The San Francisco Chronicle has a piece today on the “Mortage Meltdown.” The gist is that the “freeze,” proposed by Treasury Secretary Henry Paulson, isn’t really a fix to help working families keep their homes, but a fraud, instituted to “prevent owners of mortgage-backed securities, many of them foreigners, from suing U.S. banks and forcing them [...]
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Filed under: In The News
Posted on December 9th, 2007 by Dizzy Dezzi
I hope ya’ll will forgive me for not posting over the last couple of days. Just trying to prioritize sleep into my busy schedule since I don’t have SSG Dizzy to boss around, these days, and I am in the precarious position of doing everything by myself.
Besides, aside from enjoying my work, I have been [...]
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Filed under: In The News
Posted on December 7th, 2007 by Pamela Leavey
In his column today Paul Krugman on “The Mandate Muddle,” Krugman points out Barack Obama’s wrong-minded position on universal health care and the need to “include a requirement that everyone have health insurance — a so-called mandate.”
Krugman points to an imaginary scenario where Obama is elected president and in preparing to ”unveil his plan for universal health [...]
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Filed under: In The News
Posted on December 6th, 2007 by Darrell Prows
I’m on record here as stating that the real estate/foreclosure/sub prime mortgage problem currently unfolding presents a potential crisis for the U.S. economy. Late breaking news on the subject on on Wednesday, however, makes me wonder if I’ve been too optimistic to date.
This entire situation has so many facets that it’s truly challenging to grasp them [...]
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Filed under: In The News
Posted on December 2nd, 2007 by Pamela Leavey
Got Debt? Who doesn’t these days…
Democrats on the Hill are gearing up to take on the credit card companies and their “abusive practices that trap borrowers in an endless debt cycle.” As the economy sinks even lower due to the housing market slump, consumers are trapped in a vicious cycle with debt. Adding to the [...]
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Filed under: In The News
Posted on November 28th, 2007 by Darrell Prows
I’m posting two pieces from the news for the political component of the economic story, and not just because I enjoy spreading around bad news:
First from MSNBC:
Existing home sales fall for eighth month
Sales of existing homes fell for the eighth consecutive month in October, with median home prices falling by a record amount. Analysts blamed the [...]
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Filed under: Uncategorized
Posted on November 23rd, 2007 by Darrell Prows
In the news… Topps will liquidate company after massive beef recall
Topps Meat, which issued the nation’s second-largest beef recall ever, has filed papers to liquidate the company.
Topps was one of the largest makers of frozen hamburgers before potentially fatal bacteria were found in its patties, compelling it to halt production and issue the recall on [...]
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Filed under: In The News
Posted on November 23rd, 2007 by Dizzy Dezzi
Retailers across the country are cheering “Thank God It’s Friday (Black Friday, No Less)!”
I’m all for participating in “Buy Nothing Day”. I hate crowds (one of the reasons I hate movie theaters), so standing in line for “bargains” is not on my “to do” list. One year, we tried to participate in on-line Black Friday [...]
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Filed under: In The News
Posted on November 21st, 2007 by Darrell Prows
Two pieces in the news on the current real estate foreclosure crisis…
First from USA Today on Freddie Mac:
Freddie Mac expects deeper losses
Stunning Wall Street with a $2 billion quarterly loss, Freddie Mac (FRE) on Tuesday warned that the worst is yet to come: It said its mortgage losses will deepen through 2009, and it’s considering [...]
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Filed under: In The News
Posted on November 12th, 2007 by Darrell Prows
First a little background info… “FM Policy Focus, formerly FM Watch, is a coalition of financial services and housing-related trade associations working with affordable housing and consumer advocates, taxpayer groups and financial institutions. FM Policy Focus is dedicated to monitoring the activities of two government-subsidized enterprises (GSEs), Fannie Mae and Freddie Mac.”(FM Policy Focus is [...]
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Filed under: Uncategorized
Posted on November 6th, 2007 by Dizzy Dezzi
I’m really digging this extra daylight. But, then, I’m a morning person. But, while everyone around me is groaning about how they hate Daylight Savings Time, all I can say is I love it because I have no problem, literally, jumping out of bed before dawn. Now, in the Spring, when Daylight Savings Time starts, [...]
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Filed under: In The News
Posted on November 6th, 2007 by Darrell Prows
In the news, the foreclosure picture worsens, there is no relief in sight:
Countrywide to Adjust Loans for At-Risk Borrowers
“Countrywide announced plans to refinance or modify some $16 billion worth of loans for more than 80,000 borrowers who will soon hit an unaffordable rate reset, or those who have already fallen behind after their payments rose.”
Biggest [...]
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Filed under: Uncategorized
