"But here’s the rub: In section 5.3 of the agreement there is language that says if Congress wants to put new conditions or requirements on the banks, those new terms can be applied retroactively to banks who took the money." [1]
It’s worse than they think. Doom’s very own Igor has been seconded to Kashkari’s […]
"Ara Hovnanian, CEO of K. Hovnanian Homes, suggested to Bloomberg TV that interest rates should be temporarily slashed to three percent on 30-year fixed-rate mortgages in 2009. The rate would then rise to four percent in 2010, though it’s unclear what would happen after that."
Surely not on new mortgages?! Please click on below to see […]
It’s for real, but it may not be for long.
Click on the picture below to enter
Igor cries, "Neel, don’t go in the shower!"
Original post by John M.
House Price Bookmark
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Herbie Goes Bananas indeed! Telegraph’s Gordon Rayner tells the sad story [1] of how the world’s hedge funds piled into a naked short play on VW stock and, starting last Sunday afternoon, got given given their heads in their hands to play with to the tune of almost $40 billion. Here are a few […]
Housing Doom introduces …
Ken Griffin
Housing Doom: We haven’t seen you around much lately. Why the high profile all of a sudden?
Ken Griffin: I’m really passionate about our new product line.
HD: Does it deal with volatility well?
KG: We’re specialists — we thrive on the ups and downs.
HD: What about your hedging strategy?
KG: I get up close […]
Some time ago Amy Hoak, perhaps the MSM’s most unreflective RE journalist, reported one of the classic quotes from the peak of the housing bubble: "The downside of real estate is better than the downside on just about anything else."
Now Eric M passes along a story [1] that suggests a strong upside to the cargo […]
So many auctions in the country:
that mad roll of syllables blowing in
from all directions, the heart’s true music
plaintive and crude, …
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Subprime Blues
Billybob Stewart
A couple years ago I went to buy a home
I called up on an ad on the telephone
The Realtor told me now is the right time to buy
She said "Owning a home is […]
I see from Newsweek that Andersen’s swindlers have proliferated, automated, infiltrated, and now have taken over the world Joke’s going to be on all of us, though, when somebody notices that the money is no longer real …
Last week didn’t see three new comets and a two-headed calf, but there must have been everything […]
This [1] represents the matching bookend and worthy successor to the classic pre-9/11 satire.[2]
October 15, 2008 …
WASHINGTON—In a nationally televised address to the American people Wednesday night, President Bush called upon every man, woman, and child to spiral uncontrollably downward into complete and utter panic.
…
If you look at our sidebar articles this evening, you’ll see […]
"Treasury Secretary Henry Paulson plans to use $250 billion of taxpayer funds to purchase stakes in thousands of financial firms …
Doom doesn’t often reflect a full MSM headline, but …
Original post by John M.
House Price Bookmark
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