Tag Archives: wall street banks

Are We Seeing The End Of The Subprime Claims?

The United States only developed a booming subprime mortgage loan industry when the Clinton administration told Fannie Mae and Freddie Mac it had to buy a certain percentage of subprime loans sold to minority home owners. The rules were changed … Continue reading

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What Was The Role Of Banks In The Mortgage Meltdown?

The banks were patsies. They were suckers. They went along without much protest to the manipulation of politicians forcing lenders to lower their lending standards to “help” blacks and latinos buy homes despite bad credit. Well, those credit risky types … Continue reading

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TARP Turns Out To Cost Us Not So Much

The Bush administration’s hastily-conceived TARP $700 billion bailout has been repaid almost in full. I always felt queasy about it but it seemed like the financial markets in September of 2008 needed that reassurance. Now AIG wants to buy back … Continue reading

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Republicans Target Obama’s Mortgage Program

Republicans are elected to reduce government spending. They say that many of Obama’s programs have proved to be poor investments, including his mortgage relief program. The national debt has skyrocketed under Obama. The Washington Examiner reports: When Congress returns from … Continue reading

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SEC Expands Mortgage Foreclosure Investigation

Reuters reports this morning that the SEC has sent out more subpoenas to banks. The SEC is particularly interested in learning about “master servicers.” All of the big banks ran into problems with shoddy paperwork and legal procedures in their … Continue reading

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Walk Away From Your Mortgage?

When it is in the self-interest of businesses, they walk away from their mortgages all the time. So what’s good for the goose is good for the gander, right? Lenders say there’s something immoral about a homeowner walking away from … Continue reading

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Both Parties Blamed For Mortgage Meltdown

Here’s the view from South Dakota: Poll participant Kathy Yerkan, 63, of Sioux Falls, said she thinks today’s financial problems stem from bad lending practices with Fannie Mae and Freddie Mac. She primarily blames Congress for letting the problem develop … Continue reading

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Making The Bailout Work

From Miami: A new Ipsos/McClatchy online poll found that almost six in 10 Americans – 59 percent – lacked confidence in the government’s ability to restore consumer and investor confidence. The rescue plan gives broad, unprecedented powers to Treasury Secretary … Continue reading

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Curing The Credit Crisis

From Financial Week: Beginning Oct. 1, the program will insure up to $300 billion in mortgages to help borrowers refinance into more affordable government-backed loans. Many observers doubt the program will come close to that figure because it depends on … Continue reading

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Tough Medicine For The Mortgage Sickness

From Freep.com: Like medicine that works but tastes awful, the government bailout of Wall Street may help Main Street families — but only by causing them considerable discomfort. Without a bailout, financial markets may have collapsed in a string of … Continue reading

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