Tags: Economy + finance + investing + Markets + money + wealth
Yesterday Fed Chairman Bernanke told Congress the risk to growth in the economy was greater than the risk of inflation to the economy and so the Fed was prepared to continue lowering rates. Bernanke also acknowledged the likelihood of some smaller banks failing. Enough said,
February 29, 2008 - Markets - 2 Comments
Tags: Credit crisis + Ginnie Mae + GNMA + investing + sub prime
Fannie Mae reported a loss of $3.6 Billion on Wednesday for the fourth quarter of last year (2007). Freddie Mac, its smaller government sponsored brother today reported a $2.5 Billion loss for the same period. If not for a
Tags: Bloomberg + GAO + Ginnie Mae + Mortgages
It’s bad enough to think that there’s a some probability that Ginnie Mae can’t produce ownership records on some volume of its mortgages, but consider also that Ginnie Mae, the government agency who guarantees mortgage loans, just maybe be a ticking time bomb ready to implode from its bureaucratic sleep. According to the Bloomberg News article last Friday, February 22nd, numerous lenders […]
February 24, 2008 - Markets, Politics - 0 Comments
Tags: Fannie Mae + Freddie Mac + Ginnie Mae
The credit crisis just won’t go away. Bloomberg News reported on Friday that mortgage lenders have been thwarted from foreclosing on loans by bankruptcy judges who side with defendants that lenders should be required to show they own the loan they are attempting to foreclose on. Believe it or not, many banks can not produce […]
February 24, 2008 - Economy, Markets - 0 Comments
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