Hey, too big to fail (too big, too poor, too complex, and too politically corrupted to succeed), Fannie and Freddie should do more to help out those smaller mortgage bankers, right?
Just something I've been thinking about regarding Barack Obailout and Timmay Geithner's plans to make the world a better place. [more]
This guy sounds slimy enough and out of touch enough to... work for AIG. [more]
If crappy home loans got us into this mess (along with unrestrained consumer lending, now going bad at a rate not seen for decades) then surely the way out is... [more]
Found these through calculated risk. Pretty funny.
Someone dope-slap some sense into this knucklehead. Ugh. [more]
Freddie Mac Seeks $30.8B in U.S. Aid After 4Q Loss- AP
Freddie Mac is asking the government for $30.8 billion in aid after posting a gargantuan loss of more than $50 billion last year as the U.S. housing market worsened. [more]
I'm with Gary Weiss on this one. Mary Schapiro is more interested in paying lip service to non-existant bogeyman than actually getting down to the harder job of regulating markets in ways that make sense. [more]
Great summary at Calculated Risk. [more]
This is amazing. This clown, Stanford L. Kurland, Countrywide’s former president, runs the company that signs on thousands of people to hundreds of billions of dollars worth of lousy mortgages on overpriced houses. He sells millions in stock and disappears before the spit hits the fan. Nothing's his fault, of course. Mortgages like these, and derivatives based on them, fall apart, sinking not only Countrywide, but Fannie, Freddie, and dozens of others. The taxpayers are soaked for billions to clean it up. [more]
Virginia is # 10 for mortgage holders with negative equity! [more]
No, president B.O. is not giving stock advice. The headlines are saying that, but all he really said was... well, let's go to the tape. [more]
This is already ugly.
Who lied? Maybe the real question is: Who didn't?
Ben, there's a difference between a company suffering from a temporary "liquidity" problem, and one that's clearly insolvent. At AIG, you have not learned the difference.