‘… a gray-bearded inspector for REO Asset Services-1st Realty Group, rang the bell. When no one answered, he taped a letter to the door offering the occupants $1,000 to move out. The catch: They won’t get a cent if they trash the house before they leave.’
More: continued here
Influential shareholder adviser ISS gave Morgan Stanley’s John Mack a vote of confidence on Thursday when it recommended reelection of the bank chairman and the rest of his board at next month’s annual meeting. via Earth Times
More: continued here
‘The interesting parts of these changes are the fact that Fannie and Freddie-backed My Community programs, which are designed to “foster homeownership” by providing 100% financing and sundry other underwriting compromises are being pared back by the banks that are supposed to facilitate this type of lending.’
More: continued here
‘Americans owe a staggering $1.1 trillion on home equity loans — and banks are increasingly worried they may not get some of that money back.’
More: continued here
‘Guaranteeing Bear Stearns’ portfolio of troubled investments sets a bad precedent by transferring potential losses from the market to taxpayers, complained Allan Meltzer, a professor of political economy at Pittsburgh’s Carnegie Mellon University. “I do not believe the current system can remain if the bankers make the profits and the taxpayers share the losses.”‘
More: continued here
“The iPath Optimized Currency Carry ETN offers investors the opportunity to invest in a diversified basket of currencies in a transparent and cost efficient way with the ease of trading on an exchange”
Barclays Bank PLC announced that today is the first day of trading for the iPath Optimized Currency Carry Exchange Traded Note on the NYSE-Arca Stock Exchange under the ticker symbol ICI. via Earth Times
More: continued here
‘Earlier this month, The Australian reported that more than $5 billion of commercial property was on the sales block. That was the “tip of the iceberg”, according to one senior industry figure. Further distressed assets similar to those of Centro, MFS and City Pacific could flow on to the market while Australia’s $80billion listed property trust sector is also likely to sell holdings to reduce debt.’
More: continued here
PAGE ONEPAGE TWOOK, well there you go. It’s a start thinking it through. Share This
More: continued here
“The problem with Oracle was that they said they see a little bit of a slowdown and that’s scaring everybody”
Stocks fell in volatile trade on Thursday as a revenue shortfall at Oracle Corp fueled a technology sector sell-off on concerns about a downturn in business spending. via WTNZ-TV Knoxville
More: continued here
Some 200 homeowners are protesting a government bailout that they say helped Wall Street and hurt Main Street.
The demonstrators took their protest to the lobby of the struggling Bear Stearns investment bank on Wednesday. They wore yellow T-shirts bearing the logo of the Neighborhood Assistance Corporation of America.
In a statement the group says the government is using billions of taxpayer dollars to help the financial sector, all while blaming homeowners who are struggling to pay unfair mortgages. Read more
More: continued here