Get 4 Free Quotes Now! Powered by SecureRightsSecure Rights Logo compare rates form


Housing Starts, Building Permits, and Consumer Prices Down

As expected housing starts, building permits, and consumer prices were reported down today signaling our worries about a recession turning into a depression are well founded. Housing starts and building permits hit record lows in October according to the Commerce Department report released today. Housing starts were down 4.5% to an annual rate of 791,000, […]

Senate Bailout Bill Passes - Goes To House Monday

Senate bailout bill (HR 1424) passed easily last night in a 74 to 25 vote. The new bill must now go back to the House for a vote which will take place on Monday. The House declined to pass the measure this week and this new bill will need 14 of those who voted down […]

$700 Billion Bank Bailout: Emergency Economic Stabilization Act of 2008

Congress is expected to pass the Paulson financial rescue plan that is now been converted from a hazy three pages to over 100 pages in the new bill called the Emergency Economic Stabilization Act of 2008 sometime today. Emergency Economic Stabilization Act of 2008 Why do we need this bank bailout bill? We’ll undoubtedly you’ve […]

Bush Speech: Creating A Phantom Crisis To Dupe Congress - Again!

The Bush speech tonight on the financial crisis reminds me of another phantom crisis he used to get Congress to spend hundreds of billions of tax payer money…the Iraq War. Linking terrorism to Iraq got Congress to roll over and put billions in the pockets of defense contractors and oil companies. Linking the mortgage crisis […]

Senate Banking Committee Balks At Bailout

Finally Congress, specifically the Senate Banking Committee, is bringing more than a rubber stamp to a meeting with Fed Chairman Bernanke or Treasury Secretary Paulson. After watching Senate Banking Committee Chairman, Senator Dodd on This Week, Sunday, I was certainly surprised by his resistance today. Senate Banking Committee Hearing Held Today Both Ben Bernanke and […]

AIG Bankruptcy Next Due To Falling Credit Rating & Mortgage Crisis

An AIG bankruptcy maybe next given their liquidity crisis caused by losses in their derivatives which require an influx of capital to cover. Their credit rating was downgraded yesterday which combined with a widening credit crisis makes bankruptcy more likely. AIG Bankrupt: Mortgage Crisis and Credit Rating to Blame Another financial giant, American International Group […]

Lehman Brothers Bankruptcy Likely

Lehman Brothers bankruptcy is now more likely than ever after potential suitors, Bank of America and Barclays, got shut out when asking for a government backstop against bad mortgage losses. Lehman Brothers Bankruptcy Probable The reports even though Lehman Brothers had at least a few buyers in line, once the Treasury and the Fed […]

LEH Stock Falls On Mortgage Risk

Lehman Brothers (LEH stock symbol) is in free-fall on traders belief their credit risk is too high. The LEH stock is under pressure partly due to owning one of the biggest subprime mortgage players, Aurora Loan Services. LEH Stock Falls - Mortgage Risk The Culprit Being parent to one of the largest subprime mortgage companies […]

Unemployment Rate Threatens Mortgage And Housing Markets

The unemployment rate hitting an unexpected five year high at 6.1 percent today is not the worst news. There is much more ominous news on the long-term unemployment rate which endangers the housing and mortgage markets. Unemployment Rate Explained The real dangers in the unemployment rate reported by the BLS today is not the 84,000 […]