Jul - 1st
Ben Bernanke is clueless
Posted at 12:03 am | Filed Under Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
Watch this video and you’ll be amazed that this guy is running our economy.
Jun - 27th
More banks keep failing - FDIC takes over 5 banks on Friday
Posted at 3:20 am | Filed Under Politics, Bailout News, California Housing Crash, Florida Housing Crash, The Economy
45 banks have gone under so far this year. According to AP via Yahoo Finance:
NEW YORK (AP) — Regulators on Friday shut down five small banks, boosting to 45 the number of failures this year of federally insured banks. More are expected to succumb in the prolonged recession.
The Federal Deposit Insurance Corp. was appointed receiver […]
Jun - 16th
California’s Financial Meltdown
Posted at 2:36 pm | Filed Under Politics, California Housing Crash, The Economy, Real Estate
Visit msnbc.com for Breaking News, World News, and News about the Economy
Jun - 5th
The 2012 Pelosi GTxi SS/RT Sport Edition
Posted at 2:34 pm | Filed Under Politics, The Economy
Jun - 5th
U.S. Unemployment rate hits 9.4%
Posted at 10:00 am | Filed Under Politics, The Economy
More signs of the horrible economy here in the United States. USA Today reports that:
WASHINGTON — With companies in no mood to hire, the unemployment rate jumped to 9.4% in May, the highest in more than 25 years. But the pace of layoffs eased, with employers cutting 345,000 jobs, the fewest since September.
Still, the increase […]
Jun - 3rd
Even Tim Geithner is “underwater” on his home
Posted at 5:42 pm | Filed Under Politics, Bailout News, The Economy, Real Estate
It looks like the housing crash is hitting everybody. CNBC reports that:
Real estate agents say Geithner recently rented out his Westchester County home after it didn’t sell — even though he reduced the price to less than he paid.
Real estate agents say Geithner recently rented out his Westchester County home after it didn’t sell — […]
Jun - 3rd
Bernanke wants the US to be fiscally responsible?
Posted at 5:36 pm | Filed Under Politics, Bailout News, The Economy
Oh really? Give me a break.
According to the Wall Street Journal:
WASHINGTON — Federal Reserve Chairman Ben Bernanke Wednesday urged lawmakers to commit to reducing the nearly $2 trillion budget deficit, warning that the government can’t borrow “indefinitely” to meet the growing demand on its resources.
“Unless we demonstrate a strong commitment to fiscal sustainability in the […]
Jun - 3rd
Whatever happened to the Toxic Assets Plan?
Posted at 5:32 pm | Filed Under Bailout News, Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
Wasn’t that the reason Hank Paulson pushed to pass the first 700 billion bailout plan last year?
Well, apparently the FDIC gave up on that idea. According to CNNMoney:
The Federal Deposit Insurance Corp. said Wednesday it has postponed the initial sale of bank assets under its Legacy Loans Program, or LLP. The FDIC said it wasn’t […]
May - 26th
No bottom in housing - Home prices will continue to fall
Posted at 1:37 pm | Filed Under Bailout News, Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
Excellent article on the San Francisco Chronicle web site.
On the demand side, the surge in joblessness, still-high home prices, the credit crunch and a dearth of move-up buyers cut into the pool of potential home buyers.
On the supply side, an assortment of factors seems poised to trigger new waves of foreclosures that will continue to […]
May - 20th
California in crisis
Posted at 3:57 pm | Filed Under Politics, California Housing Crash, The Economy
Californians live in a dream and it shows when you look at the financial disaster we are in. Great article in the LA Times:
By rejecting five budget measures, Californians also brought into stark relief the fact that they, too, share blame for the political dysfunction that has brought California to the brink of insolvency.
Clogged […]
