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economy: Did Wrong Actions Lengthen the Housing Crisis? - 11/20/09 10:27 AM
I saw an interesting segment on Fox and Friends this morning. I know, this isn't the hardest hitting news show on T.V. but once in a while they come up with something good.
John Geanakopolos, Economics professor at Yale University talked about how reducing interest rates for existing mortgages had little or no effect on the mousing crisis. His idea is that banks should lower the principle to incentivise homeowners to stay. In a nutshell, a home worth 160,000.00 is now worth 100,00.00. The home goes into foreclosure, takes 18 months or so to be sold again, is torn up and … (1 comments)
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economy: Hey WE Screwed Up, Give Me More Money - 03/24/09 11:49 AM
I just finished watching the committee hearings with Treasury secretary Tim Geithner.
Before anyone wonders why I'm home and not out selling Real Estate let me explain. I had that "O.k. now your 50" test. Enough said.
The thing that stuck out to me was that Geithner was asking congress to increase his powers so he could deal with problems like AIG. If you missed my post on that yesterday, here's the link.
http://activerain.com/blogsview/998412/Monday-moanin-Market-Update-Congress-Fiddles-While-Rome-Burns
If I were more of a conspiracy theorist, which I most hotly deny, I would say that this ws all set up to increase the power of … (0 comments)
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economy: Monday moanin' Market Update: Congress Fiddles While Rome Burns - 03/23/09 05:26 PM
Much like the Roman emperor who supposedly played his violin while his city burned, Congress has found just as a creative way to avoid responsibility, accountability or anything else closely resembling adult behavior.
While Nero found a scapegoat in the form of Christians, Congress has found an enemy just as dangerous. the foe is AIG and the crime is paying contractual, if undeserved, bonuses. The trouble is that the bonuses were paid with taxpayer mmoney.
Congress maintains that it's not the purview of a giant insurance company to steal money from taxpayers. That's specifically Congress' job. And like any Mafioso family … (0 comments)
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Jerry Gardner
Livonia,
MI
More about me…
Remerica Hometown One
Address: 44785 Five Mile Rd, Plymouth, Mi, 48170
Office Phone: (734) 420-3400 x 203
Cell Phone: (734) 216-2376
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