‘The reason banks (and government) want inflation targets is that inflation is beneficial to those with first access to money: banks, government, and the wealthy. By the time access to credit filters down to everyone, the economy is poised to reverse. This happens time and time again in every cycle. The current housing bust is the latest example’
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“It is a real scam and it’s happening in so many cities” said Mayor Thomas M. Menino, who was updated yesterday on efforts to revive the foreclosure-ravaged Hendry Street area in Dorchester during a revved-up meeting with 20 city officials in a new “war room” at City Hall. “All the predictions are that the worse is yet to come.” Visit our Forum here for more information and discussions on foreclosures, REO’s, short sales and loan mod’s. Join in or just browse…
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Playing on Dante’s “Inferno”, Bankrate takes a look at the things that lead to debt - the 7 deadly sins. A few of them include:Envying the rich and famous….
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‘Current Market Conditions Don’t Seem To Have Caught Up with Sellers, While Buyers Think Everything Should Be Deeply Discounted’
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I want one!Share This
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‘The gist of our proposal to you is that we would reinsure MBIA’s current municipal bond insurance portfolio in consideration of a premium payment to us of an amount equal to 150% of the existing unearned premium reserves. Like many potential reinsurance buyers, I recognize that your first reaction may be that this is an excessive premium, and I want to offer you upfront the thought processes that led me to conclude that this is in fact a fair proposal that achieves important objectives for both parties.’
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We think so.
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‘Part 2: ‘A Giant Wave of Concealed Losses’
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Lehman Brothers said sales trends in the U.S. homebuilding industry will improve within the next two quarters and initiated the sector with a “positive” rating. via Earth Times
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‘AbitibiBowater Inc. bonds tumbled after North America’s largest newsprint maker reported a fourth- quarter loss and warned it may not be able to refinance $350 million of debt maturing in the second quarter of this year.’ WOW sat that again! ”may not be able to refinance ”
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