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bloomberg: Banks Seek Relief From Unwanted Deposits! It's A World Turned Upside Down. - 08/26/11 12:03 PM
Too much money
"Deposits are flooding into the biggest U.S. banks as customers seek shelter from Europe’s debt crisis and falling stock prices. That forces lenders to raise capital for a growing balance sheet and saddles them with the higher deposit insurance payments. With short-term interest rates so low, it’s hard for financial firms to reinvest the new money profitably."
So says Bloomberg this morning in an article titled "U.S. Banks Seek Relief on Swelling Deposits." Let's see... When the big banks feared they didn't have enough in capital reserves to weather the credit crunch back in 2007-2008, they … (5 comments)
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bloomberg: The Fed: "What We're Doing Isn't Working. Let's Do More Of It." - 06/22/11 03:50 PM
"It didn't work the first time... It didn't work the second time... What the heck? Let's do it some more."
(Click the photo for the whole story from Bloomberg News)
Let's see... We printed an aircraft carrier full of money to stimulate the economy. It didn't do what we forecast it would do, and the economy is still in the tank.
Hey! I have an idea. Let's do more of what didn't work, and see if we get a different result...
When you're in a hole, and you realize it's getting deeper, the right thing to do is to stop … (7 comments)
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bloomberg: 1/27/2010: Quick Mortgage Market Overview - 01/27/10 06:24 AM
Interest rates: Up, Down, or Flat? I'm betting on flat, but that could change with market volatility.
Consumer Confidence numbers out yesterday were a little more optimistic than expected, and the stock market liked that. It doesn't mean we're out of the woods by any measure ~ just that sentiment in the country is a little less dour than the experts thought it might be. There's a fine line between cynicism and optimism.
This morning on Bloomberg: Fed May Take Chance End to Debt Purchases Won’t Hurt Housing. Fat chance! Bernanke's in a tight spot, caught between the perceived need for … (8 comments)
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bloomberg: Bloomberg: Fed Says Most U.S. Banks Tightened Terms on Loans. Ya Think?! - 02/03/09 07:58 AM
Craig Torres' article on Bloomberg yesterday (and his update today) points out something Lenders and Real Estate Agents have been dealing with for the last six months.
Banks (who are Oh So Willing to take TARP funds from the coffers of the taxpayer) see themselves as being under siege, and they have tightened their lending standards to the point that many high FICO borrowers cannot borrow money to purchase a home, or qualify to refinance the one they're in. And it's not just the high end of the spectrum. FHA guidelines have been tightened, not by FHA, Fannie Mae or Freddy … (18 comments)
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bloomberg: $2,000 to $3,000 Non Taxable Income In One Day. Los Angeles Homeowners Cash In! - 01/17/09 07:38 AM
If this sounds like some sort of late night television commercial, it's not.
Television commercials aren't always filmed on a production lot. Homeowners, looking for some added income, are renting their homes to production companies by the day to bring in some extra cash. The number in the title can be doubled if you're willing to let adult film production companies use your oversize hot tub, according to an article today in Bloomberg.
Nadja Brandt and Daniel Taub, both reporters for Bloomberg, say there's a tax incentive, too. "Income from residential filming for fewer than 15 days a year isn’t subject … (12 comments)
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bloomberg: Call To Action: Call Your Congressman and Demand Disclosure with the Bailout Dollars - 10/17/08 07:25 AM
So you've never called, written or emailed your congressman? If you want the real estate market to open up again, you'd better change that habit. Congress responds to pressure at a local level.
So far, the bailout plan lacks the same transparency that sank so many titans on Wall Street.
Demand disclosure. Demand transparency. Let them know you're serious about this or it won't happen. If you want a blueprint, let me refer you to an upstate New York organic farmer named Sandy Lewis. Sandy worked on Wall Street for 26 years, from '64 to '90.
He's written a fantastic opinion … (15 comments)
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Mike Jones
Tucson,
AZ
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SUNSTREET MORTGAGE, LLC
Address: 2840 E Skyline Dr, Suite #230, Tucson, AZ, 85718
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