Category: Mortgage Crisis
By Larry Doyle on Aug 14, 2009 in Economy, Home Loan, Housing & Housing Crisis, Mortgage Crisis, Mortgages, Real Estate, Sense on Cents (Larry Doyle blog) | 46 Comments
Can we truly expect our economy to return to LONG-TERM health if the housing market remains under severe pressure? I think not. While Wall Street rebounds, Main Street continues to lose value. How so? Home foreclosures continue to run at breakneck speed.
Bloomberg reports, U.S. Foreclosure Filings Set Third Record-High in Five Months:
Foreclosure filings in the [...]
By Larry Doyle on Jul 15, 2009 in Current Affairs, Economy, Housing & Housing Crisis, Mortgage Crisis, Mortgages, Real Estate, Sense on Cents (Larry Doyle blog) | 36 Comments
I guess this woman wasn’t too far off in her prophetic statement last Fall:
Is Barack Obama about to move into the rental market and become the largest single landlord in the process?
Hat tip to AK for pointing out this developing story. Reuters reports, Obama Mulls Rental Option for Some Homeowners:
U.S. government officials are weighing [...]
By Pat Racimora on May 4, 2009 in Crime, Current Affairs, Economy, Home Loan, Housing & Housing Crisis, Mortgage Crisis | 54 Comments
(bumped up from this morning)
The economy is booming in at least one sector, namely fraudsters out to separate you from your money. These human stains have always existed, of course, but the meteoric rise in the sheer number of scams in recent weeks is startling.
And what better target than the already weakened? People [...]
By Larry Doyle on Apr 8, 2009 in American Consumers, Bank Bailouts, Banking Institutions, Economy, FASB, Mortgage Crisis, Sense on Cents (Larry Doyle blog), Toxic Assets, Wall Street | 12 Comments
In thinking about the economy, markets, and our banking system, my memory brings me back to my early days in New York. While working my way along 8th Avenue back to my apartment in Hell’s Kitchen, I would happen upon numerous versions of the classic NYC “hustle.” The shell game (also 3 card monte) was [...]
By Larry Doyle on Mar 27, 2009 in American Consumers, Bank Nationalization, Banking Institutions, Economy, FDIC, Mortgage Crisis, Real Estate, Sense on Cents (Larry Doyle blog), Tim Geithner, Wall Street | 12 Comments
The other day, I provided a cursory overview of the details embedded in the recently proposed Public-Private Investment Partnership, Will Banks Truly Sell these Toxic Assets?
The main point I tried to highlight in that piece was the need for true price discovery for these toxic assets. A loyal reader provided tremendous insight in highlighting that [...]
By Larry Doyle on Mar 17, 2009 in Banking Institutions, Credit Risk, Current Affairs, Economic Stimulus, Economy, Employment, European Union, Global Finance, Mortgage Crisis, Sense on Cents (Larry Doyle blog), Wall Street | 8 Comments
***Cross-posted from my blog, Sense on Cents. Come by and visit!
I thank our loyal reader in Michigan, Mr. Fiscal Liberal, for sharing with us a piece written by Simon Johnson, the former chief economist of the International Monetary Fund, a professor at the MIT Sloan School of Management, and a senior fellow at the Peterson [...]
By Larry Doyle on Mar 12, 2009 in American Consumers, Current Affairs, Economic Stimulus, Economy, Employment, Equity Markets, Home Loan, Housing & Housing Crisis, Mortgage Crisis, Mortgages, Real Estate, Sense on Cents (Larry Doyle blog), Stimulus Plan, Wall Street | 20 Comments
***Cross-posted from my blog, Sense on Cents. Come by and visit!
At the core of most, if not all, of our economic problems lies housing. I do not need to replay the tape of low rates, shoddy underwriting, and Wall Street securitizations that all played a dramatic role in creating a bubble the likes of which [...]
By Rabble Rouser Reverend Amy on Mar 9, 2009 in Bamboozling, Barack Obama, Chicago politics, Current Affairs, Economic Stimulus, Economy, Mortgage Crisis, Mortgages, Rahm Emanuel, Stimulus Plan, Tim Geithner | 69 Comments
As in Charles Krauthammer and Paul Krugman, that is. One is typically more conservative, one is more liberal, and both had columns this week on how Obama is dealing with our financial crisis, or not. Now, I have long enjoyed Paul Krugman’s work - he is a brilliant, brilliant man (the Nobel Prize Committee [...]
By Larry Doyle on Mar 1, 2009 in American Consumers, Banking Institutions, Barack Obama, Commerce, Congress (House & Senate), Current Affairs, Deficit, Democratic Party, Economic Stimulus, Economy, Employment, Equity Markets, Global Finance, Hedge Funds, Home Loan, Housing & Housing Crisis, Mortgage Crisis, Mortgages, Obama Administration, Real Estate, Republicans, Sense on Cents (Larry Doyle blog), Stimulus Plan, Unemployment, Wall Street | 13 Comments
Prior to going to the comments section of my son’s report card, human nature dictates that I first look at the grades. In that same vein, let’s see how the markets performed for the month of February:
Let’s review my specific projections from the January 2009 Recap:
By Larry Doyle on Feb 28, 2009 in American Consumers, Barack Obama, Commerce, Congress (House & Senate), Current Affairs, Economy, Employment, Equity Markets, Home Loan, Housing & Housing Crisis, Mortgage Crisis, Wall Street | 48 Comments
The mortgage interest deduction has been a cornerstone of American tax and housing policy. In fact, I can’t count the number of times I conversed with my accountant about maintaining mortgage debt based upon the feeling it was the one deduction the government would never touch. Well, never just pulled into the driveway!
For clarification [...]
By Larry Doyle on Feb 27, 2009 in American Consumers, Commerce, Current Affairs, Democratic Party, Economy, Employment, Equity Markets, Joe Biden, Mortgage Crisis, Real Estate, Unemployment, Wall Street | 65 Comments
Economic and budgetary analysis by their very nature often employ a “ceteris paribus” approach or similarly base line assumptions. Ceteris paribus, translated as “all other things being equal,” or base line assumptions are necessary given the fact that economic analysis has so many variables. Well, let me share with you that ceteris are NEVER paribus [...]
By Larry Doyle on Feb 23, 2009 in Bamboozling, Barack Obama, Current Affairs, Housing & Housing Crisis, John McCain, Middle America, Mortgage Crisis, Obama, Obama Administration, Wall Street | 26 Comments
I worked in the mortgage business on Wall Street for 23 years. During that time period I had the good fortune of developing relationships with some of the finest minds in this sector. While I do not know Laurie Goodman personally, I can tell you that there is no one individual in the market [...]
By Larry Doyle on Feb 21, 2009 in Bank Nationalization, Barack Obama, Christopher Dodd, Citigroup, Current Affairs, Economic Stimulus, Economy, Housing & Housing Crisis, Mortgage Crisis, Obama, Tim Geithner | 31 Comments
Stay tuned for LD’s Central Station — which is turning into a weekly Saturday morning LIVE chat that is NOT to be missed! — starting at 9:00 a.m. to Noon where you can ask the master himself, LD (!), as we navigate the economic landscape. LD is a Wall Street veteran who welcomes sharing his [...]
By Larry Doyle on Feb 19, 2009 in Abortion, Barack Obama, Democratic Party, Economy, Housing & Housing Crisis, Mortgage Crisis | 122 Comments
President Barack Obama presented an overview of his plans to support the housing market yesterday. Obama highlighted that the government would utilize the following methods to support those homeowners in default or close to foreclosure:
1. Support is only provided to those homeowners occupying the residence. No support for speculators or developers.
[...]
By Larry Doyle on Feb 11, 2009 in American Consumers, Bank Nationalization, Banking Institutions, Current Affairs, Economic Stimulus, Economy, Housing & Housing Crisis, Housing & Urban Development (HUD), Mortgage Crisis | 105 Comments
(bumped up by Susan)
LIVE TV/RADIO LINK at C-Span
This morning at 10am, the CEOs of the major money center banks in our country will be in Washington to face Congressional heat. Watch it LIVE on C-Span3.
These CEOs are easy targets for plenty of reasons. As a precursor to their testimony, I thought it may be helpful [...]
By Larry Doyle on Feb 7, 2009 in American Consumers, Bank Nationalization, Banking Institutions, Credit Card Companies, Current Affairs, Earmarks, Economic Stimulus, Economy, Housing & Housing Crisis, Mortgage Crisis, Real Estate, Tax stimulus package | 56 Comments
We will have our regularly scheduled 9:00 a.m. Saturday departure from Central Station.
The tracks remain steeply sloped with many curves along the way. With all eyes and ears and hearts focused on the wide range of developments in the economy, the markets, and the world of global finance we have added a few extra [...]
By Deb Cupples on Dec 30, 2008 in Banking Institutions, Current Affairs, Economy, Mortgage Crisis | 26 Comments
During the past three months, our nation has lost 1.2+ million jobs: 533,000 in November; 320,000 in October; and 403,000 in September (USBLS).
Two months ago, the New York Times reported that major companies were thinking about cutting jobs, including giants like Alcoa, Bank of America, Coca-Cola, General Electric, Goldman Sachs, Merck, and Xerox. [Bank [...]
By Ani on Nov 13, 2008 in Backfire, Backtrack Obama, Campaign promises, Harry Reid, Hillary Clinton, Housing & Housing Crisis, Howard Dean, Infrastructure, Mortgage Crisis, Nancy Pelosi | 54 Comments
This was a statement and release from the office of Senator Hillary Rodham Clinton:
Senator Clinton Calls for New Stimulus to Boost Economy and Help Those Hardest Hit by Recession, Calls for Investments in Infrastructure, Green Jobs, Mortgage Relief, Aid to Cities and States, and Extending Unemployment Insurance
Senator Hillary Rodham Clinton today called for a comprehensive [...]
By Larry Doyle on Nov 12, 2008 in American Consumers, Banking Institutions, Current Affairs, Economy, Housing & Housing Crisis, Mortgage Crisis | 123 Comments
(bumped up from two evenings ago by Marge Gunderson, because it has to be read, or I’ll have to bring you in for questioning. And you won’t be able to answer one question in the — gee, look at all that info LD gave you folks! This is sink-or-swim time — that body? [...]
By Larry Doyle on Nov 11, 2008 in American Consumers, Banking Institutions, Barack Obama, China, Credit Card Companies, Current Affairs, Dubai, Economic Stimulus, Economy, Mortgage Crisis, Real Estate, Retail Businesses, Workers | 49 Comments
I will admit that, given the current dynamics at work in the economy and the markets, I have become somewhat numbed as to the magnitude of some of the developments. Many of the highlights that I will offer from yesterday’s news would be enormous stories in and of themselves. Taken collectively, they do become overwhelming [...]
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