AEI Subprime VI: Q&A
on Nov 7, 2009 in AEI Subprime Seminars Bailouts Housing Bubble Market trends Mortgage Banking Politics Systemic Risk Well I think at some point we’re going to have a government in power that’s going to make a choice between the American people and our creditors, who are predominantly foreign. And I think that choice will involve letting the dollar depre...

Vampire Squid? Heck No. Think $2.6 Billion Medicinal Leech!
on Nov 6, 2009 in Bailouts Charts and Graphs Housing Bubble Mortgage Banking NY Fed H.4.1 Updates Politics Systemic Risk To that end, FHFA has informed Fannie Mae that a possible transfer of a portion of its LIHTC investments to unrelated third-party investors is consistent with FHFA’s ongoing efforts to conserve Enterprise assets and with the Enterprise’s...

Fannie Mae- “Give us the deed, we’ll give you a lease”
on Nov 5, 2009 in Housing Bubble Market trends Mortgage Banking I’m not sure what to make of Fannie’s new "Deed for Lease" program: [Thanks Coffee!] WASHINGTON, Nov. 5 /PRNewswire-FirstCall/ — Fannie Mae (NYSE: FNM) is implementing the Deed for Lease(TM) Program under which qualifying...

The Cost Of Not Walking Away From An Underwater Mortgage
on Nov 5, 2009 in Housing Bubble Mortgage Banking Politics Recourse Mortgages   In the ongoing debate about whether one should walk away from an underwater mortgage or not, one University of Arizona professor speaks out strongly in favor of taking a hike. According to Brent T. White, an associate professor of law at the U...

How Critical Is The Home Buyer Tax Credit?
on Nov 4, 2009 in Charts and Graphs Housing Bubble Market trends Mortgage Banking Politics Fraud might be rampant in the program, but that didn’t stop the Senate from voting 85-2 in favor of extending the home buyer tax credit.  Why is it that the Senate is so willing to extend this expensive program?  Here’s an examp...

post-Capitalism’s Self-Righteous Oligarchs
on Nov 4, 2009 in Bubble humor Can you believe this? “The injunction of Jesus to love others as ourselves is an endorsement of self-interest,” Goldman’s Griffiths said Oct. 20, his voice echoing around the gold-mosaic walls of St. Paul’s Cathedral, whose 365-feet-high dome tower...

Twist: Doing My Bit For Democracy
on Nov 3, 2009 in more than housing It’s election day, and I’ve decided to try being a poll worker this year.  I’ll be at the polls until closing, so if anything looks interesting, please leave a comment and let us know.  Consider this an open thread.  ...

AEI Subprime VI: Panel Discussion
on Nov 3, 2009 in AEI Subprime Seminars As Canadian As Possible Bailouts Housing Bubble So, you know, there’s nothing for safety and soundness like a comfortable oligopoly. We might think about that and … we’re planning, for those of you who are interested, a conference, coming up in a few months, contrasting the Canad...

AEI Subprime VI: Lachman Presentation
on Nov 2, 2009 in AEI Subprime Seminars Bailouts Charts and Graphs Commercial Real Estate Credit Contraction Housing Bubble Market trends Mortgage Banking Politics Systemic Risk Doom Transcripts: Index & Guide Housing Doom is pleased to present a sixth selection from our under-construction transcript of the American Enterprise Institute’s October 22, 2009 event "The Deflating Bubble, Part VI: The Lessons of the...

Crack of Doom: Pandemic Launches Dow Right Back Towards 10k
on Nov 2, 2009 in A/H1N1 Swine Flu Bubble humor Clorox Co.’s earnings rose 23% for its fiscal first quarter on improved profit margins and increased sales of disinfecting products caused in part by concerns over the H1N1 flu virus. - WSJ1 Talk about creative destruction, looks like these guy...