Long-time Seattle Bubble commenter Eleua points out a particularly disturbing portion of the version of the bailout that the Senate is set to vote on tonight: SEC. 112. COORDINATION WITH FOREIGN AUTHORITIES AND CENTRAL BANKS. The Secretary shall coordinate, as appropriate, with foreign financial authorities and central banks to work toward the establishment of similar…
Category: News
News, current events, etc.
In the trenches update
First, something to lighten the spirits of everyone: Tales of homeownership: If you are on a septic system, don’t drive over a waste line with a 10 ton truck loaded with gravel. I did and just learned that PVC waste lines will indeed pancake. The result is rather disgusting. – SCrow No one is lending…
“Turmoil,” “Fear,” & “Uncertainty” Bursting Seattle’s Bubble
The P-I ran an interesting little article by Aubrey Cohen today: Turmoil rattles local real estate market The recent nationwide economic turmoil appears to have intensified already prevalent skittishness among buyers and lenders — and helped persuade sellers to get real. … The turmoil has increased the fear of buying now, only to see prices…
Breaking: House Votes Down $700B Bailout
Incredible. Even with voter feedback at 100 to 1 against (source), 141 Democrats and 65 Republicans still voted for the bailout. The fate of a controversial $700 billion financial bailout plan was in doubt Monday as a House vote turned against it. The next steps were not immediately clear but supporters were scrambling to put…
WaMu Failure: What it Means for Seattle
From today’s Seattle Times: Feds seize WaMu in nation’s largest bank failure WaMu’s 43,200 employees won’t feel any immediate impact, though it’s likely JPMorgan will drastically shrink the thrift’s headquarters staff. More than 3,500 people work at WaMu’s 42-story headquarters at Second Avenue and Union Street, along with 800 people elsewhere in Seattle and 1,500…