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mortgage market: Treasury Announces Massive Bailout - Full text of Sec Paulson's speech on plan to restore market - 09/19/08 11:29 AM
Federal agencies plan comprehensive mortgage bailout Treasury Secretary Paulson has announced plans to implement a massive and "comprehensive approach" to relieve "stressess on our financial institutions and markets."
Basically the US Treasury will take on the entire mass of delinquent mortgage assets, in order to restore liquidity to the markets, on a systematic method.
I think the announcement is being made today, before details are known, in order to restore some investor and institutional confidence in the market. Otherwise, the global financial system was about to just freeze up.
Fannie and Freddie will increase purchases of mortgage securities, above the goal announce earlier this month. This … (20 comments)
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mortgage market: Federal support for Fannie and Freddie announced ahead of Monday's markets - 07/13/08 08:51 PM
Today NPR and other news services reported that Treasury Secretary Henry Paulson has announced a plan to support Fannie Mae and Freddie Mac. These proposals were made this Sunday in advance of the financial markets and specifically before Freddie opens a Monday morning auction of $3 billion in securities.
Friday ended with significant concerns over the stability of Freddie Mac and Fannie Mae. Stock prices have dropped by 75% for both companies since January, and almost 50% this past week. At issue are investor fears that these companies lack the capital reserves to fund their guarantee of mortgage securities, because of large … (6 comments)
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mortgage market: Chattanooga third best city to live in 2008 - 05/17/08 01:20 PM
In today's Chattanooga News Free Press, an article announces that RelocateAmerica.com has chosen Chattanooga as the third best city to live in, for 2008.
The article mentions that Chattanooga was praised for "its opportunities for raising a family, starting a business and realizing their dreams."
Chattanooga is a city very much on the move. There is an active Chamber of Commerce, new business opening monthly. It is a technological innovation center, guided by the Technology Council. Business and government have an established partnership. The arts are well supported. We have a tremendous and well executed music festival, that is almost ready to … (0 comments)
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Richard Smith FHA VA Rural Development in TN GA
Chattanooga,
TN
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