Do Bernanke And Obama Talk To Each Other?
Bernanke Gives Upbeat Assessment On Economy Chairman Bernanke predicted today that the recession would end in 2009. Some of his upbeat, optimistic comments included: “If actions taken by the administration, the Congress and the Federal Reserve are [...]
Bernanke Predicts 2010 Recovery In Stocks, Housing & Economy
Bernanke Predicts Recession To End In 2009 The stock market jumped over 200 points today, partly due to Federal Reserve Chairman Ben Bernanke’s optimistic comments to the Senate Banking Committee. Some selected comments by the Chairman follow: [...]
Notable Links
Living Beyond Yours Means – California’s Economy Gets Worse California’s Pain Is Only Beginning BIG SUR, Calif. — As Sacramento squabbles over the state’s $42 billion deficit, Californians are getting a bitter taste of what’s to come [...]
“Financial Catastrophe” – Part II
President Predicting Catastrophe President Obama declared today that “A failure to act and to act now will turn crisis into catastrophe and guarantee a longer recession.” Alan Blinder, a former vice chairman of the Federal Reserve, echoed [...]
Why Did So Few People Save For Hard Times?
A Recession of Biblical Proportions Consumers usually build savings in booms, then raid their troves during busts – but not this time. In booms we put away some of the abundance because we know we’ll need it [...]
Fannie and Freddie – The New Subprime Lenders
Fannie and Freddie Impose Huge Fees On Borrowers Freddie Mac last week announced additional fees for condo owners who refinance, effective April 1, 2009. The fee mirrors a similar charge imposed by Fannie Mae last year. Both [...]
New Federal Standards For Mortgage Industry Largely Irrelevant
Obama Plans Fast Action to Tighten Financial Rules WASHINGTON — The Obama administration plans to move quickly to tighten the nation’s financial regulatory system. Officials say they will make wide-ranging changes, including stricter federal rules for hedge [...]
Fed Struggles To Lower Mortgage Rates
Fed Determined To Lower Mortgage Rates With Unconventional Methods Mortgage rates started dropping late last year after the Federal Reserve announced that it would be purchasing mortgage backed securities (MBS) in an effort to lower mortgage rates. [...]
Mortgage Rates Surge Upward – Is The Refi Boom Over?
Mortgage Rates Up Sharply Over Past Week Mortgage rates increased again today as the sell off in the long treasury market continued. The all time lows in the mid 4% range have quickly disappeared. A short week [...]
