Category Archives: Politics

PBS Frontline Tackles Money, Power And Wall Street

Watch the three hours and 47 minutes of four total shows here. I love PBS Frontline. I think it tends to be fair and to be journalistically solid. The show does have a definite pro-regulation bias. Whether it is tackling … Continue reading

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Contempt For Banks

On his radio show today, Dennis Prager said: “You know how much fear I have for big government. My contempt for most banks in the world is deep as it is for big government.” “The profession of banking has soiled … Continue reading

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Could A Mortgage Settlement Help CA’s Budget Deficit?

We’re looking at gangster government under President Obama and the Democrats over the past three years. Big government has teamed up with big bureaucrats to shake down big business and to decide which bond holders get paid and how much … Continue reading

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Big Mortgage Losses Cause FDIC To Sue Banks

When many people stopped paying their mortgages beginning in 2006 and accelerating over the next few years, the world economy went south. Wall Street gets blamed for inadequately pricing risk. Now big banks are getting sued over mortgage losses. REUTERS … Continue reading

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Banks Are Stronger, But Mortgage Demand Is Weak

I was not a big fan of the President Bush’s $700 billion plan to bail out Wall Street and the banks but virtually all of this money has been repaid to the U.S. Treasury so on balance, the move probably … Continue reading

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New Limits On Mortgage Fees

Mortgage pros make their money from the ignorance of those who aren’t in the mortgage industry. It is in the pros interest to keep mortgages as complicated as possible and filled with as many mysterious fees as possible. I’m a … Continue reading

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Is Mortgage Principal Write-Off Overdue At Fannie, Freddie?

Taxpayers are on the hook for about $300 billion for Fannie Mae and Freddie Mac, but if liberals get their way, that number will balloon as Fannie and Freddie write-down mortgage principle for their most inept borrowers. People would who … Continue reading

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Freddie Mac Asks For More Government Help

So far taxpayers have paid out about $170 billion to subsidize Fannie Mae and Freddie Mac. That works out to about $1300 per American. Taxpayers are on the hook for at least another $100 billion in aid over the next … Continue reading

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The New Mortgage Refinance Program

Underwater homeowners with mortgage guaranteed by Fannie Mae and Freddie Mac will be able to refinance their loans under Obama’s new plan, saving themselves about a thousand dollars a year if they fill out all the paperwork correctly. Kathleen Pender … Continue reading

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Obama’s Foreclosure Legacy

The Obama administration keeps doing things about the housing crisis but none of them seem to work. The Obama approach is to selectively intervene in the housing market and channel subsidies to politically protected groups. Some homeowners who are underwater … Continue reading

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