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Big Ben goes to the hill today to answer for the Bear Stearns meltdown/buyout. Bonds are down this morning on the news of ADP employment report that was up 8k vs. expectations that they were going to be down 45k. Stock futures are trading higher this morning. So, we can expect a modestly higher opening this morning.


Back the Bear Stearn buyout, that was done with with a flick of the pen. No congressional hearings, just a simple Presidential order and Ben acted swiftly. I am hearing talk that some are saying our banking system is at its worst since the depression. I was not around for that, but I know plenty of people that were.

I am keeping my eyes on the bond market today in anticipation of its next dip or increase.

I am Dave Woodson, your mortgage consultant for life

http://www.indigofg.com/ and http://www.uwinfin.com/

 

2 Comments on Mad Mortgage Machine Minute

APR
02
2008
420,511 Points 4 Featured Posts Outside Blog

Ok it's been awhile for me since history and economics class Dave LOL - but in the period of the great depression - the feds stopped printing money and raised the prime lending rates, which is opposite of what is happening now....Keep us posted.

Sincerely,

Grace
2:21pm • #1
247,113 Points Outside Blog
Grace, you are right, Now, they are printing money and dropping rates. frying pan fire.  I was on a conference call today and they are still changing underwriting guidelines.  The tightening continues.
2:29pm • #2


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