Jumbo Mortgage Rates Reflect Default Risk
Economic Crisis Impacts All Borrowers
Jumbo mortgages, typically loan amounts above $417,000, are defaulting at a rapid pace as the economic crisis affects borrowers at all income levels. Bloomberg is reporting that jumbo mortgages, typically associated with higher [...]
Defaults Everywhere - More Lending Is Not The Solution
Mortgage Defaults Only Part Of The Problem
Mention loan defaults and most people probably think of mortgages. Home foreclosures due to mortgage defaults are getting the bulk of press coverage and the most attention in Washington. The credit [...]
Economic Reality Crushing The American Dream
Reality Becoming Impossible To Ignore
There still appears to be a serene sense of calm by the American public. They hope that the government will be able to solve our economic crisis in short order and restore to [...]
Diogenes Would Have No Luck In Washington
Mission Impossible
Somewhere around 300 BC, the Greek philosopher Diogenes walked the streets of Greece carrying a lamp in the daylight looking for an honest man. History does not tell us whether or not Diogenes ever found his [...]
The Humpty Dumpty Economy
The Big Black Hole Expands As Asset Values Collapse
Not even a month in office, Mr Obama has spent trillions on bailouts, stimulus plans, bank recapitalization and loan guarantees. The markets have spoken with a resounding lack of [...]
Cash Starved Consumers Stop Betting
People are no longer willing to wager their last dollar on the hope of striking it rich. The AP is reporting that Connecticut casinos reported almost a 10% decline in revenue for January 2009.
UNCASVILLE - Slot winnings [...]
Is There A Safe Place To Put Your Money?
Stanford Financial, with as much as $50 billion in customer assets, was accused by the SEC of defrauding its investors. Where does one put his money today, without worrying that it may not be there tomorrow?
Stanford Lured [...]
Notable Links
Straight Talking Common Sense
Obama Must Destroy Detroit, So America Can Live - Evan Newmark
Dear President Obama,
Who said life was fair?
You’re in office less than a month and the markets already hate your presidency, your Treasury secretary and [...]
Jet Age “Run On The Bank” In Antigua
Stanford Depositors Head To Antigua
Depositors from as far away as Colombia have begun arriving in the island nation of Antigua, seeking to withdraw their money from an offshore bank under investigation by U.S. state and federal authorities.
Reached [...]
