wall street: Defrauding America and the Global Catastrophe
- 01/17/11 09:20 PM
The defrauding America and the global catastrophe has created much speculation. From all accounts, including Capitol Hill, the culprits were Fannie Mae and Freddie Mac. The "GOP.gov, the official website for Republicans in the House of Representatives, says flatly: "Fannie Mae and Freddie Mac were the main cause of the nation's current financial turmoil." The names of these two institutions have been bantered about with ease as the the primary cause of the mortgage meltdown. The verdict was without merit, primarily because there was no evaluation of the facts to render such a decision. Now that the dust has settled, a proper … (3 comments)
wall street: Does Anybody Have A Clue?
- 10/26/08 01:51 AM
I have been saying for months that all of the foreclosures are not due to the mortgage meltdown. There are far more homeowners who have had their homes for nearly fifteen years who have fallen victim to the economy. Companies are downsizing if not going out of business and that has a direct impact on one's ability to meet financial obligations. The New York Times article Spending Stalls and Businesses Slash U.S. Jobs provides a perfect illustration of what is happening. Over the last two weeks Merck, Yahoo, General Electric, Xerox, Pratt & Whitney, Goldman Sachs, Whirlpool, Bank of America, Alcoa, Coca-Cola, … (9 comments)
wall street: A Call To Action
- 10/11/08 11:09 PM
The people on main street are looking to Washington to provide the lead on how best to regain our financial footing as a Nation. The trouble is that Washington needs help. The reality is that we are not alone in this quagmire. A global economy hitting the skids needs a concerted global effort for regaining stability. There was no better example of this than when Iceland seized control of its three major banking institutions that were faltering. To make matters worse, Iceland appeared to be favoring its citizens over foreigners when it came to insuring deposits. Clearly such an approach wreaks havoc … (1 comments)
wall street: Spellbinding Consequences of the National Crisis - on a Personal Level
- 10/05/08 06:00 AM
The national bailout/Rescue Plan is now law. Wall Street can begin its upward ascension. Perhaps it won't be business as usual, that remains to be seen. However, for the people on main street, not much has changed.In a number of instances due to circumstances beyond their control, many still find their backs against a wall with no way out. They continue to struggle silently with financial burdens that threaten their way of life. far too many were barely making it before the national crisis. The poor performance of the economy over the last eight years is taking its toll on some … (3 comments)
wall street: Tell Me Something I Don't Know
- 09/25/08 12:12 AM
Last evening President Bush pitched his Bailout Plan to the American people. He commenced reading the teleprompter by espousing the dire straits of the economy. He recanted the horrors of wall street and the stagnant housing market, things the American people are all too familiar with. What we don't have are the real details of his Bailout Plan and for those who do, they are not impressed. This lack of enthusiasm is not partisan. The Washington Post quotes, "At the hearing yesterday, Republicans on the committee were as harsh as Democrats in criticizing the Bush administration's handling of the financial crisis. … (0 comments)
wall street: Feds, Fraud & Funds - The Fleecing of America
- 09/24/08 04:20 AM
Is everybody happy? It doesn't appear to be so! At least not on the hill. As congress prepares to recess and with nearly six weeks to the presidential election, there's the making of a non-partisan squabble over President Bush's hastily contrived bailout legislation. I am convinced that assistance from the government is essential. However, the details of the assistance need to be made public. The legislation is still being drafted as suport is being sought, not a good approach. This concern is echoed in MSNBC's article with the subtitle: Anger, Skepticism Among Members of Both Parties May Put Bill in Jeopardy. … (0 comments)
wall street: Deal or No Deal?
- 09/14/08 11:35 PM
Many investors and real estate professionals struck the pose of children with wide eyed wonderment, in anticipation of a Lehman Brothers buyout. Many wondered who would be the suitor to come a calling? What role would the American government play? Visions of the play by play rescue of Bear Stearns, Freddie Mac and Fannie Mae were ever present, as highlighted in Measure For Measure At 5.3 Trillion Dollars In Assets. In one of my previous posts entitled: When The Chips Are Down, Its Time To Fold And Sell, the playing field seemed ripe for another move of acquisition, in the money sector game called … (2 comments)
wall street: When the Chips Are Down, It's Time To Fold and Sell
- 09/11/08 08:52 PM
In hindsight do you think a $40 million compensation package was appropriate for the CEO of a company teetering on the precipice of an implosion? And so it goes, Lehman Brothers, one of the oldest wall street firms boasted huge profits at the end of 2007, Only to show enormous write downs at the beginning of 2008, $3.5 billion to be exact. How is this explained?In the midst of major write downs, how does a major player profess to go unscathed and not raise eyebrows? Ironically, there are those who would advocate less government involvement, when in-fact the government is and … (2 comments)
The defrauding America and the global catastrophe has created much speculation. From all accounts, including Capitol Hill, the culprits were Fannie Mae and Freddie Mac. The "GOP.gov, the official website for Republicans in the House of Representatives, says flatly: "Fannie Mae and Freddie Mac were the main cause of the nation's current financial turmoil." The names of these two institutions have been bantered about with ease as the the primary cause of the mortgage meltdown.
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