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 […]
May - 17th
What’s your American Dream?
Posted at 3:03 am | Filed Under Bailout News, Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate
May - 14th
California is getting ready for a disaster
Posted at 6:42 pm | Filed Under Politics, California Housing Crash, The Economy, Real Estate
According to the LA Times:
The governor offered two scenarios. The first was grim, to address a $15.4-billion deficit that finance officials say the state will face even if voters approve a set of ballot measures Tuesday. The second was devastating, intended to close a $21.3-billion gap if the measures fail.
The governor’s plan, unveiled this afternoon, […]
May - 12th
The collapse of Social Security and Medicare
Posted at 3:48 pm | Filed Under Politics, The Economy
We all know that Social Security and Medicare are in trouble but it looks like things are much worse than expected. According to AP via Yahoo News:
WASHINGTON – The financial health of Social Security and Medicare, the government’s two biggest benefit programs, have worsened because of the severe recession, and Medicare is now paying out […]
May - 9th
Another Friday, another bank closed by the Federal Government
Posted at 9:55 am | Filed Under Politics, Bailout News, The Economy
According to CNBC:
NEW YORK - Federal regulators on Friday shut down Westsound Bank of Bremerton, Wash., making it the 33rd bank to fail this year.
The Federal Deposit Insurance Corp. seized the small bank and said its nine branches and nearly all of its deposits will be taken over by Kitsap Bank of Port Orchard, […]
May - 5th
Housing Market Collapse - Bank Demolishes New Model Homes
Posted at 8:56 pm | Filed Under Politics, Bailout News, California Housing Crash, Real Estate
Apr - 29th
The Flip Side of Obama’s 100 Days: The Republican Spotlight
Posted at 1:54 pm | Filed Under Politics
Apr - 28th
Senator Feinstein’s husband gets lucrative contract from the government
Posted at 9:41 am | Filed Under Politics, Bailout News, California Housing Crash, The Economy, Real Estate
Watch this video where Glenn Beck and Bill O’Reilly talk about the very unusual case where Senator Dianne Feinstein husband gets awarded a contract from the FDIC to sell foreclosed homes.
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