TJ_98370
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....."It was a massive fraud... a gigantic Ponzi Scheme, a lie and a fraud," Davidowitz says of Wall Street circa 2007. "The whole thing was a fraud and it gets back to the accountants valuing the assets incorrectly.".... ... They got away with ly…
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. There definitely seems to be a problem regarding moral hazard in this situation. It is a common theme amongst real estate finance recently. The risk of default was so successfully obscured either by fancy statistical math modeling, misrepresentat…
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So, let's see if I understand this correctly. There is no federal oversight for private mortgage insurers (PMI). Individual states regulate PMI's. However, we the taxpayers are going to be responsible for the bad debt resulting from defaults on Fred…
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. Washington State is number one!!! Calculated Risk article posted 6 Nov 09 linked / quoted below.......... . Unofficial Problem Bank List Grows to 505 . ....Washington State leads the way with more than 26 percent of its banking industry eithe…
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. Ms. Gregoire in action .............. . Bank Crackdown Draws Criticism . Politicians are putting pressure on regulators to ease up on small community banks across the U.S., a move some say could increase the cost of cleaning up the financial …
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. This story really should not be a surprise to anybody following CFC news. Sales numbers were available last August indicating that full size pickup trucks were the best sellers. . Cash for Clunkers Hugely Successful at Buying People New Pickup …
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"Mark to Model" is alive and well.
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Wow! This situation should keep an army of lawyers employed for years. . With regard to the "Texas Action", why is it only insurance companies suing? .
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. From Calculated Risk; . Unofficial Problem Bank List Grows to 500 . There are 23 Washington State based "problem" banks on the list now. The latest additions were: Washington First International Bank of Seattle, Evergreen Bank of Seattle, Reg…
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. Calculated Risk added Cascade Bank of Everett as a problem bank as of 20 Oct and Sterling Savings Bank of Spokane as of 15 Oct . Problem Bank List (Unofficial) Oct 23, 2009 .
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. This article has nothing to do with "Cash for Clunkers" and is barely related to the "Economy" but should be of interest to gearheads. I just recently learned about the HCCI engine. GM is reportedly close to production. If it really does get a 1…
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. Article from Calculated Risk linked below – . Coastal Community Bank of Everett was recently added to the list. It appears that commercial real estate loans are what is causing trouble for this bank. . Problem Bank List (Unofficial) Oct 9, 20…
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. An excerpt from a Market Ticker article is quoted below. Its is an encouraging prediction for those wanting a newer car that feel they missed out on Cash for Clunkers -- if you have any cash..... . Where's My Economic Recovery? . .....But "ca…
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. The article linked below explains the probable cause of the recent appreciation of muni-bond funds. It's a Wall Street Journal article and you may or may not be able to access the whole thing, but the title is informative enough. --- Is there a f…
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Lake Hills Renter wrote: ..... I will say that I have some money in municipal bonds at the moment, and they are doing far better than anything else I have in my somewhat limited portfolio........ . I too have noticed muni bonds and muni bond…
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Ira, . A few years back a coworker bought into one of those tax liens on some property in Oklahoma. If I understood correctly there was some kind of lottery involved. He felt lucky that he was selected. He ended up owning / controlling several hun…
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I stumbled across the Van Kampen Senior Loan Fund (XPRTX) just because a relative owns some shares. I did not even know what a "senior loan" was until I researched this fund. Up 44% since January 1. Wow!
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I know that this blog attracts "saver" type people, so I know there are readers that have a nest egg to protect. I'm one of those type people and I'm becoming frustrated with the current options with where to put my savings. I hate the stock market …
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. Very thought provoking piece. . My favorite quote: . .....The market has become delusional and is living in fantasyland in the same way people were dancing in the Titanic on the eve before it crashed into an iceberg..... . I like the way th…
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. Did anybody not see this coming? . Sept. US auto sales fall amid clunkers letdown . DETROIT (AP) -- GM, Ford and Chrysler reported September sales declines on Thursday, revealing a tough hangover from this summer's Cash for Clunkers buying sp…
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WestSideBilly wrote: This seems relevant: http://www.youtube.com/watch?v=5CU-k0XmLUk Enjoy your big-iron death traps. Wow! That video really makes it's point! Too bad they had to destroy that '59 Chevy though.
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. I believe Jillayne posted a link to Calculated Risk's list of problem banks awhile ago. I am posting that link again. Lots of info here. Anchor Mutual Savings Bank of Washington State made mention as being one of the larger banks recently makin…
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. Wow! The FDIC is running out of funds. Who would have expected that? . FDIC could seek bailout from banks . Regulators may borrow billions from big banks to shore up the dwindling fund that insures regular deposit accounts............. . ..…
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. This is old news to some. I'm just attempting to maintain some consistency with this thread. . Venture is the third Washington State based bank to fail this year - Bank of Clark County on 16 Jan, Westsound Bank on 8 May, Venture Bank on 11 Sept…
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. And finally, from Time magazine, we have this report about the demo-derby crowd, who feel repressed by the political agenda promoted by the Cash for Clunkers program. . Article and Video: . Crash For Clunkers: Demolition Derbies Hard Up f…
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. Fifteen additional bank failures during the month of August . Tracking the Nations Bank Failures . FDIC; Failed Bank List .
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. FDIC reports Washington banks had bad 2nd quarter . According to a report from the Federal Deposit Insurance Corporation, Washington banks have twice the percentage of non-performing loans as the national average. . The Vancouver Columbian re…
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. Shocking Late Breaking News!!! Cash for Clunkers responsible for improved sales figures! Pontiac inventory diminishing fast! . Ford exec sees US auto sales rising in August . A top Ford executive expects industrywide U.S. auto sales to rise f…
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. Toyota closing California plant it ran with GM . Toyota is shutting the California factory it ran with General Motors for 25 years -- the first time the Japanese automaker is closing a major auto assembly plant ever........ .
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. FWIW, the articles linked below, dated December 2008, and January 2009 indicate that the UAW Jobs Bank Program was suspended at the beginning of this year: UAW agrees to suspend Jobs Bank, Gettelfinger says (3 Dec 08) . The UAW has agreed to…