credit crisis

Congratulations!  We are now the future proud owners of $700 $810 billion in the most toxic, putrid, rancid, and horrific mortgages that humankind has ever encountered.  On Friday as the Congress went through their Broadway-like charade of actually debating and acting like they care about middle America, the bill which was just rejected on Monday […]

You may recall that in the distant past (Monday) the House of Representatives voted in a decent margin to say no to the housing bailout bill.  So after a 777 point market smack down, economic fear mongering, and polling politicians found out that Americans don’t like the sound of the word “bailout.”  So from now […]

Instead of the House of Representatives sending in a nice sealed envelope a candy gram to Hank Paulson of $700 billion, they instead decided to listen to the people and did a reverse bailout wiping out $1.2 trillion in stock market wealth.  Go figure.  The House of Representatives actually listened to the massive uprising against […]

Washington Mutual also known as WaMu, failed Thursday making it the biggest savings and loan failure in the history of our country.  What makes this event more astounding that it comes on the heels of stalled bailout talks regarding the absurd and poorly planned $700 billion bailout package.  A recent CBS News and New York […]

As I eagerly await the bread and circus theatre to resume tomorrow, has anyone seen any details on the $700 billion plan?  The plan ushered over the weekend by Henry Paulson was an absolute joke and mockery to our economic system.  He back peddled and stated that he wanted to keep it as “simple” as […]

“There are three kinds of lies: lies, damned lies, and statistics.”
-Mark Twain
There is no question that the current $700 billion USA Housing Motherland Bailout is the biggest story going around.  The magnitude of the bailout has quelled other big stories that would have been the day’s topic du jour.  For example, Ambac and MBIA were […]

“I’m shocked, shocked to find that gambling is going on in here!” -Captain Renault, Casablanca
Many of our elected officials were “shocked” and astounded to realize that the entire economy has turned into a glorified casino.  Ironically, the quote above comes from Casablanca which translated into English means Whitehouse.  How appropriate given the circumstances.  How the […]

If you haven’t noticed, Wall Street is having a bad week.  It would seem that the reality on Main Street is finally catching up to the Wall Street casino.  Many Americans are only starting to pay attention to the economy.  Why is this happening?  What went wrong?  To be honest, the current financial system is […]

AIG is the next in line for the Federal Reserve food stamp program.  As the Federal Reserve decided to stand steady on rates, the markets did an unusual move.  It actually moved up on a no move when everyone around the world was expecting a cut.  Now, it is obvious why the market dipped by […]

You would think that given the magnitude and sheer size of the Fannie Mae and Freddie Mac bailout that Americans would at least be more curious about the formula as to how this thing is going to unfold.  [Cue the Crickets].  Instead, the public is focused on the “shiny things” once again like someone suffering […]