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POPSAmerican Casino: A Documentary About the Home-Mortgage Crisis more @ clip source the Cockburns meet one guy in "American Casino" who understands the whole mess better than most, a California real estate investor named Jeff Greene who smelled the end of the housing bubble around 2006 and bet $1 billion against the mid-decade exuberance of Wall Street. Sitting in his walled and gated beach compound in Malibu, Greene calmly tells the camera that the opportunity for his successful hedge bet (which has yielded $500 million so far) involved massive pain for millions of homeowners.
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POPSIndymac Bank Read more details about IndyMac Bank, a bank that provides a number of home mortgage products that are mostly first lien residential loans and huge full-documentation loans and home equity lines of credit.
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POPSWill he jump? While some passers-by like 23-year-old Verena Kircher found the piece "alarming," others like Caroline van Kelst thought it was beautiful. "It is crystal clear that this is not a suicide," she said. "He has definitely got something about him which is majestic, not desperate."
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POPSHow do you cope during tough times? This has been on my mind for some time and is probably has on yours...too many people are suffering from the economic crisis going on around us. My wife was reading a headline about there being another real estate crash coming. I didn't even want her to read the article as it is too depressing. If you feel the same, try these helpful tips:
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POPSMinneapolis Area Information The real estate crisis has resulted in the proliferation of REO homes in Minneapolis. While most people would construe the data as negative, the smarter ones know that the situation provides the best opportunity to purchase a real estate owned property in Minneapolis.
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POPSBuy An REO Property In Minneapolis Today For A Very Low Price! The real estate crisis has instilled fear among the public but the wiser people know that now is the BEST TIME to buy a real estate owned home in Minneapolis, for the simple reason that REO properties are being sold by banks at prices well below the properties’ full market values.
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POPSBuy An REO Property In Minneapolis Today For A Very Low Price The real estate crisis has instilled fear among the public but the wiser people know that now is the BEST TIME to buy a real estate owned home in Minneapolis, for the simple reason that REO properties are being sold by banks at prices well below the properties’ full market values
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POPSSmall Banks Fail in Big Numbers
Closures and government takeovers of failing banks have become so routine that they barely gets noticed each Friday when the FDIC makes its announcements. While the banking crisis began with escalating defaults and foreclosures on home mortgages, the increase of bank failures in recent weeks has been driven by rising losses on commercial real estate loans, which are starting to default in large numbers. Community and regional banks hold a disproportionate share of commercial real estate and construction loans. My sister-in-law works at a local bank and says they are only accepting signature loan applications, fixed 5-yr home loans, and no car loans. My brother-in-law sells commercial real estate and every loan he has setup this year has been denied. My wife works for a car dealer who is losing his lines of credit after years of pristine credit. Our home value lost $50,000 and our property taxes went up $500. How the middle class is going to survive this mess is anyone
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POPSinvesting in property This site might help Paul learn about real estate and investing in property; maybe this financial crisis would get him some money after all since the properties’ prices are the lowest ever.
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POPSAmerican Dream or American Nightmare? Home-ownership is just a part of the american dream, and it's a part which has been unduly subsidized and distorted by the government, to the pont that it threatens the whole dream.
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POPSEntering the Greatest Depression in History Loose credit, easy spending and massive debt is what has led the world to the current economic crisis, spending is not the way out. The world has been functioning on a debt based global economy. This debt based monetary system, controlled and operated by the global central banking system, of which the apex is the Bank for International Settlements, is unsustainable. This is the real bubble, the debt bubble. When it bursts, and it will burst, the world will enter into the Greatest Depression in world history.
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POPSCapping Our Economy & Trading Our Jobs To China&Co. 219-212 HOUSE PASSES 'GLOBAL WARMING' LEGISLATION... 'BILL OF THE CENTURY' VOTED ON UNREAD... Boehner Tried 'Filibuster'... 300 PAGE DUMP AT 3AM-- REPUBLICANS CRY FOUL... One of the biggest compromises involved the near total elimination of an administration plan to sell pollution permits and raise more than $600 billion over a decade " money to finance continuation of a middle class tax cut. About 85 percent of the permits are to be given away rather than sold in a ceoncession to energy companies and their allies in the House " and even that is uncertain to survive in the Senate. The final bill also contained concessions to satisfy farm-state lawmakers, ethanol producers, hydroelectric advocates, the nuclear industry and others, some of them so late that they were not made public until 3 a.m. on Friday. Supporters and opponents agreed the result would be higher energy costs but disagreed vigorously on the impact on consumers.
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POPSRachel Maddow Show: Somebody Saw It Coming -- Byron Dorgan "I think we will look back in 10 years' time and say we should not have done this but we did because we forgot the lessons of the past, and that that which is true in the 1930's is true in 2010," said Senator Byron L. Dorgan, Democrat of North Dakota. "I wasn't around during the 1930's or the debate over Glass-Steagall. But I was here in the early 1980's when it was decided to allow the expansion of savings and loans. We have now decided in the name of modernization to forget the lessons of the past, of safety and of soundness." Senator Paul Wellstone, Democrat of Minnesota, said that Congress had "seemed determined to unlearn the lessons from our past mistakes."
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POPSThe Worst? It's Not Over Commercial real estate losses are the next wave, and indications are that this crisis could be even bigger than the S&L crisis of the early 1990s.
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POPS Stocks Surge On US Toxic Asset Plan up to $12 in loans for every dollar of private equity at risk. Banks will submit pools of loans for auction. Banks said the plan’s structure was favourable to them as it gave them the last word on whether to sell their toxic assets. ●$75bn-$100bn from Tarp invested with private equity in a public-private fund worth $500bn ●Investors and public-private funds buy bad loans from banks at auction, with loans guaranteed by FDIC ●Five fund managers approved by Treasury to invest private capital and public-private fund equity in toxic securities ●The Fed’s Talf programme expanded to include toxic securities, including residential mortgage-backed securities
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POPSUp In Smoke: The Deposit Vanishes To everyone who ever described us renters as "People people who throw away their money when they could be owning..." The whole economy is a ponzi-scheme, and it's all coming undone. The people who worked hard, who played by the rules and believed they'd get ahead doing so? They're the ones profiled in this article. And us grasshoppers who've been dancing are watching all the diligently built ant-hills gets washed away by the storm. The ants have moved in to the rental unit next door. I feel sorriest for the ants. They played by the rules and get screwed the hardest. At least us grasshoppers got a few dances in.
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POPSMatt Tabibi on the real meaning of the bailout According to Rolling Stone, the government measures surrounding the bailout amount not to a kind of creeping socialism, as critics on the right seem to claim, but more like a sweeping takeover of the government by so-called "financial bureaucrats" -- an in-group made up of the richest of the rich, who by now control all the money, the regulatory agencies, the Treasury and the Fed. Anyhow, it's definitely bad news.
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POPSNevada, Arizona & California Top Country's Foreclosure Filings
Once it starts to go over the cliff, it's gone." In other parts of the country, the foreclosure wave was barely a ripple — at least until it started swamping major banks that had invested heavily in mortgages. Banking giant Wachovia Corp., for example, was hammered after California and Florida customers of one mortgage firm it bought began defaulting at high rates. The risks of such lending were spread so broadly among financial institutions that, when the loans went bad, it drove the national credit crisis, says Christopher Mayer, who studies real estate at Columbia Business School. The Obama administration on Wednesday detailed a $75 billion plan to keep more homeowners from slipping into foreclosure by helping them refinance loans or reduce their monthly payments. But that effort could face political challenges because most of the foreclosure problem has been so concentrated in a few areas, says Brookings Institution researcher Alan Mallach.
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