There is a lot of chatter about different plans, market anticipations, and pitfalls when it comes to “fixing” the economy and, specifically, nationalization. Despite the fact that I don’t have the same reach as several uneducated members of the media , I figured I’d share what I think the way forward is, regardless. Step 1: Nationalize Citi and Bank of America. Let’s be honest, with recent talks of expanded stakes, ringfenced assets, and no end of the losses in sight, it’s probably time the
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Maryland U.S. Attorney Rod J. Rosenstein yesterday announced the formation of a task force linking federal, state and local agencies in the fight against mortgage fraud, a group whose goals will include seizing assets from scam artists and paying restitution to victims.
The Mortgage Crisis Blog Mortgage Crisis
By Michael Beitler Printer-friendly version Whenever you try to solve a problem you should look at what caused the problem in the first place. In early 2009, the banking system is wrestling with hundreds of billions (if not trillions) of dollars of bad assets, known as subprime loans, marginal loans, or other vague descriptors. Based on my years of experience as a Chief Financial Officer (CFO) in banking, I can say with confidence, “Bankers are more intelligent and business savvy than
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Large U.S. banks on brink of insolvency, experts say By Steve Lohr Some of the large banks in the United States, according to economists and other finance experts, are like dead men walking. A sober assessment of the growing mountain of losses from bad bets, measured in today’s marketplace, would overwhelm the value of the banks’ assets, th
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One of the biggest assets you own is probably your real estate. In the past few months, we have gotten questions from our readers asking various real estate questions. If you still have a mortgage, should you pay off the mortgage or invest the money? Ron has about $50,000 and has had conflicting advice on whether he should invest this money or pay off his mortgage. To figure it out, you need to look at a term called “arbitrage.” This means if you expect to earn more than what your cost is, the
The Mortgage Crisis Blog Mortgage Crisis
