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POPS Thomas Sowell: Random Thoughts
But what this means is that even the record-breaking federal deficit understates the government's real financial liabilities, because agencies like FDIC and the Federal Housing Authority are likely to need increased amounts of money to keep going. An e-mail from a reader says that liberals like to take the moral high ground, even though their own moral relativism means that there is no moral high ground. I doubt whether the man responsible for the massacre at Fort Hood will pay with his life for the lives that he took. He may well be free again someday. We can only hope that he does not get a hero's welcome when he arrives in some terror-sponsoring country, the way the Lockerbie bomber did. A recent study by the U.S. Commission on Civil Rights showed that, after the housing boom and bust, blacks, whites, Hispanics, Asian Americans and American Indians all reduced their subprime mortgage loans. Only politicians seem not to have learned anything from the economic disaster ...
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POPSGoldman Sucks’ new role: Taking Your Homes The couple alleges that Goldman declined for three years to confirm their suspicions that it had bought their mortgages from a subprime lender, even after they wrote to Goldman’s then-Chief Executive Henry Paulson — later U.S. Treasury secretary — in 2003. Unable to identify a lender, the couple could neither capitalize on a mortgage hardship provision that would allow them to defer some payments, nor on a state law enabling them to offset their debt against separate, investment-related claims against Goldman. In July, the Beckers won a David-and-Goliath struggle when Goldman subsidiary MTGLQ Investors dropped its bid to seize their house. By then, the college-educated couple had been reduced to shopping for canned goods at flea markets and selling used ceramic glass. Theirs is an infrequent happy ending among the hundreds of cases...
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POPSBarney Frank: Predatory Lender Why is Barney Frank still in charge of the Financial Services Committee? Last years FNMA, FHA (GSE) loans are this years foreclosures. How is that working out for taxpayers. And in addition, lets keep non-paying borrowers in homes for 2 - 3 years without paying. How much is that costing taxpayers. Maybe cheaper to give those borrowers a big Cash for Keys check rather than continue to have a non-paying asset and cost of continuous litigation for a barrage of new federal mandates and state legislation that fuels plaintiff attorneys.
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POPSACORN foresaw the foreclosure crisis in 2001
More: Moreover, Oakland's law would have gone much farther than requiring that borrowers could afford loans. In 2001, ACORN officials already recognized that the driving force behind the subprime lending was the ability of brokers to chop up risky mortgages, repackage them with good loans as "securities," and sell them to other banks on a largely unregulated market. When homeowners who couldn't afford their loans later defaulted on them, these securities became widely known as "toxic assets" and were the primary cause of the world financial crisis… But if Oakland's law had been widely adopted, the bailout likely would have been unnecessary and the worst economic downturn since the Great Depression probably averted. Why? Because the city's ordinance not only would have held mortgage brokers liable for making bad loans, but also every other bank that later bought pieces of those bad loans after they were securitized. In short, the market for subprime loans would have dried up.
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POPSthe giant hole What this argument leaves out is Fannie and Freddie. The evil and greedy bankers (curiously intent on making loans that could not be repaid) were able to sell these loans to Fannie and Freddie. If there had not been these quasi-governmental corporations backing them they would not have been making loans and they would never have been capitalized. It may be true that there was a "giant hole" in the safety net, but the truck that drove through it was financed by the government's own creatures.
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POPSDrive Financial A review about Drive Financial that has been specializing in automobile financing for consumers with limited or below-average credit histories.
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POPSNew FHA Foreclosures Jump As FHA continues to offer loans with little money down, and as home prices continued to decline from last year, its no surprise that delinquencies and foreclosures from newly originated FHA loans (last 12 months) are increasing.
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POPSHow Did We Get Here - Subprime Loans? He, who has the GOLD, writes the RULES. Investors know if you have the propensity to always pay your mortgage on time, you will continue do to do such! You might be late or behind on something else, but you'll handle the house note or you have no roof to live under.
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POPSSub prime Car Lenders Sub prime auto loan is an auto loan beneficial for person looking to buy a used or a new car or car refinancing with reasonable interest rates even with bad credit or no credit history. While giving you a chance to improve credit by making timely payments. These loans are provided by special subprime auto lenders who help people with less than perfect credit to get best rates.
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POPSNew Car Credit Applying for new car loan online can help you to compare quote while qualifying for lower rates with any credit situation which reduces your monthly payment and helps you be in the budget.
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POPSAuto Finance with Bankruptcy Bad credit car loan can be a smart solution for people with poor credit, no credit and even bankruptcy to get their car finance without the stress of the credit issues. With network of subprime lenders you can get low interest rates as compared to other lenders. Above all, bad credit auto loan can also improve your credit score.
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POPSWhat will cause the next US financial crisis! Repos and not subprime mortgages caused the present financial crisis. The top three banks in the world by market capitalization are now; 1) Industrial and Commercial Bank of China 2) China Construction Bank 3) Bank of China Citibank and Bank of America are not even on the list of the top twenty.
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POPSNew Car Loans in Toledo One can expect to get an auto loan with low credit but it becomes more difficult financing a car with prior bankruptcy. However, now there are online car finance companies that are willing to finance even the people with bankruptcy at reasonable rates. Thus it helps you to finance your car while improving your credit.
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POPSRefinance Upside Down Car Getting upside down on auto loan, sometimes also referred as underwater on automobile loan means your loan exceeds the current value of vehicle. subprime private lenders can help you getting you rid with this situation through refinancing your upside down car. Just ask for free quote and discuss your situation with lender in your area.
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POPSClassic Extortion "According to Fox News judicial analyst and New Jersey Superior Court Judge Andrew P. Napolitano, banks with no financial problems were forced to sell stock to the government or face the threat of costly and harassing public audits. This happened to banks that had "no bad debt, no credit default swaps, no liquidity problems, and no subprime loans" and didn't want or need any government funds.Judge Napolitano called the government actions what they are: "classic extortion."
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POPSGuaranteed Automobile Finance Guaranteed auto loan is a type of finance which can secure you vehicle loan regardless of credit issue. Online automobile lenders offer guaranteed approval finance to help you purchasing a new or used car either from dealership or private party even with have bad credit, no credit or bankruptcy.
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POPS25 People to Blame for the Financial Crisis
Rebubbacans and Ayn Rand disciples abound. Kathleen Corbet Corbet ran the largest agency, Standard & Poor's, during much of this decade, though the other two major players, Moody's and Fitch, played by similar rules. By slapping AAA seals of approval on large portions of even the riskiest pools of loans, rating agencies helped lure investors into loading on collateralized debt obligations (CDOs) that are now unsellable. Dick Fuld steered Lehman deep into the business of subprime mortgages Lehman even made its own subprime loans. The firm took all those loans, whipped them into bonds and passed on to investors billions of dollars of what is now toxic debt. Marion and Herb Sandler In the early 1980s, became the first to sell a tricky home loan called the option ARM. And they pushed the mortgage, which offered several ways to back-load your loan and thereby reduce your early payments, over the next two decades. pocketed $2.3 billion when they sold their bank to Wac
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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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POPSTitle loans California helped me out a lot! Title loans California totally helped me out when I needed dental work done and didn’t have enough cash available. I talked to the people at 123fundme.com and because I own my car title and it works as collateral, I got a loan a day later!
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POPSRound 2 - Real Estate - Compounding the Problem Vote 2010 - Send the message. Neuter this President halfway through his one and only term. That is if we have enough people who have awoken by then. And who will not let the irrelevant issue of race get in their way! Start educating friends and family in 2010 election states NOW.
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