Advocates of an open Government and transparent allocation of taxpayer funds celebrated the news late Friday afternoon (2-20-09) that the U.S. District court has moved to enforce a Freedom of Information Act (FOIA) request to release more details about exactly how TARP bailout funds have been and
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02/22/2009
When the dust from the departing helicopter finally settled, America realized that the old "shrubs" of the last 8 years had been replaced with the seeds of new growth opportunities. Secretary of the Treasury, Timothy Geithner will most certainly review the current state of affairs and enact some
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02/09/2009
"Review the April Fool's Day 2008 Balance Sheet of the American Economy (Unmanageable Loss. Manageable Catastrophe. New Mortgage News, April 1, 2008). It predicts systemic bank failures. That means that it predicts that many banks will fail. This work depended upon approximately three minutes of
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02/09/2009
"We cannot start our recovery until we have completed our bankruptcy. Go ahead now and do the denial, anger, bargaining, and depression. Open the window and scream. Then put the fate of the world ahead of the obvious reasons we shouldn't do this. Yes, we will reward a carnival of bad behavior and
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02/02/2009
"Talk about a credit crisis: Heartland Payment Systems, a credit card payment processing firm, may have been the victim of the largest data breach to date. The Princeton, N.J.-based firm said Tuesday that it discovered malicious software in its systems that compromised the security of the data t
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01/21/2009
"Why don't these families simply refinance? Because the amount owed that would need to be refinanced is greater than what the home is worth, resulting in the loan being denied due to the short appraisal. Solution; waive the appraisal requirement on refinance for owner occupied homes with adjustab
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01/21/2009
Assume mortgages of half of the eight trillion disappear. So four trillion dollars of mortgages burn and go away and are never paid and are a complete loss and write off. This means the banks and other mortgage owners are bankrupt to the tune of $4 trillion dollars. So the owners of the mortgages
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01/19/2009
"On Wednesday, December 3, 2008 The New York Federal Reserve website reported that they will begin to purchase Asset Backed Securities (ABS) from failed mortgage giants Fannie Mae and Freddie Mac, as well as the Federal Home Loan Banks. They also hinted that they will stop there - everything seem
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12/04/2008
The Wall Street Bailout is quickly reaching into the the trillions-of-dollars, and many analysts are speculating as to the current running total of the outlays thus far, while other financial experts like John Bogle, the founder of the Vanguard Group, are questioning the legitimacy and impact of
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12/02/2008
A Foreclosure Solution so Simple it Would Work By Anthony M. Freed Here is the solution to most of the ills of the current housing crisis - in the form of a languishing US House Bill that would allow homeowners facing foreclosure the option to stay in their homes as renters, and perhaps even comp
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12/02/2008
