Tag Archives: credit crunch

Banks Will Lend To Mortgage Defaulters

Here is another sign that the credit crunch is easing — banks will lend money to people who have defaulted on their mortgages. Tens of thousands of people have strategically defaulted on their mortgage, realizing that they owed far more … Continue reading

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Credit Crunch Ending

Banks are now lending money to people who’ve defaulted on their homes. Loans for people with good credit scores are increasingly easy to obtain. Credit card offers are going out in the mail again. I’ve even received a few. In … Continue reading

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Let’s Beat Up On Goldman Sachs

The left-wing Obama administration and the left-wing Gordon Brown administration in the United Kingdom are using the Wall Street investment firm Goldman Sachs as a football. It looks like they are having fun kicking it around and these leftists are … Continue reading

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Bank Lending Standards

Almost everyone I know has been turned down for a loan over the past year. This Federal Reserve study which says most banks are not tightening lending standards seems counter-intuitive to me. I used to have over $100,000 in credit … Continue reading

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Citigroup CEO Vikram Pandit Talks To The Los Angeles Times

Citigroup has received four federal bailouts. Vikram Pandit claims the banks could buy back the federal government’s share at any time. He seems upbeat on the economy. He says low interest rates are helping people repay their mortgages and thus … Continue reading

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Britain Revamps Mortgage Lending Rules

Mortgage lenders in Britain will soon have to verify the incomes of all people taking out mortgages according to new regulations suggested this week. I don’t get it. Why would lenders need to be regulated in this way? Lenders have … Continue reading

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FDIC To The Rescue?

Politicians are looking into all sorts of ideas for channeling aid to distressed homeowners. All of these plans however give aid and succor to those who’ve made bad decisions. America already does more to enable mortgages than any other country … Continue reading

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What The Next President Must Do About The Mortgage Mess

He’s not going to have a lot of dollars to throw at the problem. He’ll have an income in recession and ballooning budget deficits. There will be a call for increased regulation so fewer people are tricked into buying mortgages … Continue reading

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Bailing Out Russia’s Richest Man

From the WSJ: People close to the situation said that on Tuesday Russia allowed Alfa Group, a conglomerate controlled by businessman Mikhail Fridman, to tap its $50 billion rescue fund to pay back a $2 billion loan to a group … Continue reading

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Housing Market Hurt By Government Interventions Meant To Help

Report: The nation’s homebuilders will be building fewer homes this year than at any time since the end of World War II. In addition, the National Association of Homebuilders Housing Market Index hit a record low of 14 in October, … Continue reading

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