Nov - 12th

Bailouts, Lies, and Rock and Roll

Posted at 12:40 pm | Filed Under Politics, Bailout News, The Economy, Real Estate

We just learned that Hank Paulson decided not use any of the 700 billion bailout money to purchase toxic mortgages but instead he wants to keep using the money to inject more money in financial institutions. A couple of months ago, Congress passed the bailout plan based on the assumption that the Treasury Department was […]

Nov - 11th

The housing bailouts keep coming and the stock market keeps sinking

Posted at 7:50 pm | Filed Under Bailout News, The Economy, Real Estate

Another day, another bailout plan and Wall Street? Well, Wall Street didn’t like it. The Dow down 176 points. Is the Federal government ever going to learn that bailouts won’t fix the housing problem?
The Federal Housing Finance Agency (FHFA) came up with this bailout plan today:
ANSWERS ON THE STREAMLINED MODIFICATION PROGRAM
Q: What is a modification? […]

Nov - 11th

No free lunch

Posted at 12:41 pm | Filed Under Politics, Bailout News, The Economy

As I’ve said before, there is a price to pay for all these bailouts. This from CNBC:
US May Lose Its ‘AAA’ Rating
The United States may be on course to lose its ‘AAA’ rating due to the large amount of debt it has accumulated, according to Martin Hennecke, senior manager of private clients at Tyche.
“The U.S. […]

Nov - 10th

Why Paulson’s Plan Won’t Work

Posted at 7:11 pm | Filed Under Politics, Bailout News, The Economy, Real Estate

Nov - 10th

U.S. Response to the Financial Crisis

Posted at 7:09 pm | Filed Under Politics, Bailout News, The Economy, Real Estate

Nov - 4th

No “Hope for Homeowners” so far

Posted at 4:15 pm | Filed Under Bailout News, Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate

More signs that all these bailout plans our government is implementing are not working. The San Francisco Chronicle reports the following:
The $300 billion “Hope for Homeowners” program was begun Oct. 1. Designed by lawmakers eager to respond to the mortgage crisis, the Congressional Budget Office had projected it would let 400,000 troubled homeowners swap […]

Nov - 2nd

More bailouts? GM? Chrysler? How about Credit Card Debt?

Posted at 1:06 pm | Filed Under Politics, Bailout News, The Economy

The stupidity of the our government never fails to amaze me. Now, we’re hearing that some groups our pushing for a bailout of irresponsible people to own thousands of dollars in credit card debt.
CNNMoney reported the following:
Groups seek credit-card debt forgiveness
WASHINGTON (AP) — An alliance of financial industry interests and consumer advocates on Wednesday asked […]

Nov - 2nd

Email the Treasury Department and tell them to stop the bailouts

Posted at 12:56 pm | Filed Under Politics, Bailout News, The Economy, Real Estate

Watching the Marcitz is promoting an effort to email the Treasury Department and tell them to stop the bailout of irresponsible people. Let’s support this effort.
Are you financially responsible and upset that your money is going to BRIBE people to stay in their homes EVEN THOUGH they can make the payments? Well if you are […]

Oct - 28th

S&P/Case-Shiller: home prices in August are down 16.6% for the whole country - Down 28% in Los Angeles Metro area

Posted at 9:32 am | Filed Under Bailout News, California Housing Crash, Florida Housing Crash, Real Estate

The Standard & Poor’s/Case-Shiller 20-city housing index was released today showing and it shows declines of 16.6%. Las Vegas is down 30.6% and Los Angeles is down 28.1%. All I can say is: Ouch!!!

Obviously, states like California, Florida, Arizona, and Nevada are suffering the most.
This is how the media reported the news:
USA Today:
NEW YORK (AP) […]