Credit Contraction

Housing Doom commenter coffee just dropped this in the comments.  Twist and I are over our heads on this one.  I’ll put a few of the relevant news links up in the comments later, but in the meanwhile any assistance would be appreciated.  This is about the latest Treasury moves to force down mortgage rates.  […]

 
"New intrigue will arrive in the late afternoon when the Fed releases its balance sheet, an exercise it does usually every Thursday at 4:30 p.m., but will instead do so today [Friday]."
 
A few more mainstream people are starting to pick up on the importance of these weekly H.4.1 updates. The above was from a […]

As the retail and commercial real estate domino falls, we are about to enter a whole new mortgage default crises that was never planned for; but one that a smart third grader could have seen coming.
Doom friend Mike sends along these happy thoughts to kick off the Holiday Shopping Season — including a special offer […]

but … "Great Britain’s main city has the best infrastructure of lawyers, accountants and financial experts in the world. "
…
Crina Boros: There are still issues to be discussed about the economic crisis.
George Iacobescu: They cut down forests to write about it. I believe that such an economic crisis had never happened before. The entire mankind […]

 
"Bill Gross must be smiling"
 
That quote comes from the comment thread for Calculated Risk’s post [1] covering a new Fed program to buy up to $600 billion of GSE Agency Debt. It’s not often that our blogging world invades the kitchen at Doom North, but CBC News World at Six Tuesday at suppertime had […]

Here is Housing Doom’s fourth installment of our unauthorized annotated transcript of the American Enterprise Institute’s September 30, 2008 seminar "The Deflating Mortgage and Housing Bubble, Part IV: Where Is the Bottom?" [1] This is the presentation by Tom Zimmerman. He makes use of an extensive slide deck.[2] There is now an […]

 
"Meanwhile, the prospect of the government creating an asset class that would directly compete against and carry a stronger government backing than the government-sponsored enterprises has led to an exodus of investors in debt securities issued by Fannie Mae and Freddie Mac, which are now wards of the state."
 
The above is taken from this story,[1] […]

"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 […]

Here is Housing Doom’s third installment of our unauthorized annotated transcript of the American Enterprise Institute’s September 30, 2008 seminar "The Deflating Mortgage and Housing Bubble, Part IV: Where Is the Bottom?" [1] This is the presentation by Nouriel Roubini.
Highlights
"… there’s a growing recognition that this was not just a subprime mortgage problem …"
"… […]

Here is Housing Doom’s second installment of our unauthorized annotated transcript of the American Enterprise Institute’s September 30, 2008 seminar "The Deflating Mortgage and Housing Bubble, Part IV: Where Is the Bottom?" [1] This is the presentation by AEI Fellow Desmond Lachman. He made use of a slide deck [2] and about three […]