'Bailout psychology' destroying the economy

[Marc]

Sean Olender
Sunday, April 5, 2009

President Obama must stop the bailouts and start the prosecutions. It's time to focus on anti-poverty programs to protect the growing unemployed from hunger and homelessness. Stealth payments to billionaire bondholders must cease immediately....

[Marc]

James Doran in New York
The Observer, Sunday 5 April 2009

Elizabeth Warren, chief watchdog of America's $700bn (£472bn) bank bailout plan, will this week call for the removal of top executives from Citigroup, AIG and other institutions that have received government funds in a...

[Marc]

hmmm... somehow I doubt its over...

The Commerce Department said today orders for manufactured goods rose 1.8 percent in February, reversing six straight monthly declines and easily beating estimates of another drop.

Other economic indicators came in better than expected,...

[Marc]

While Wall Street shrugged off Friday’s dismal employment report — the Dow Jones Industrial Average rose nearly 40 points — the loss of 663,000 jobs in March portends more weakness for U.S. commercial real estate.

“It means that we’ll see several more quarters...

[Marc]

By: Reuters | 02 Apr 2009 | 11:48 AM ET

U.S. mortgage rates slid to a record low during the past week, Freddie Mac said Thursday, as concerted government steps to reduce borrowing costs take hold.

The average 30-year home loan rate fell 0.07 percentage point in the week...

[Marc]

By Mark Pittman and Bob Ivry

March 31 (Bloomberg) -- The U.S. government and the Federal Reserve have spent, lent or committed $12.8 trillion, an amount that approaches the value of everything produced in the country last year, to stem the longest recession since the 1930s.

...

[Marc]

Defaults on home mortgages insured by the Federal Housing Administration in February increased from a year earlier.

A spokesman for the FHA said 7.5% of FHA loans were "seriously delinquent" at the end of February, up from 6.2% a year earlier. Seriously delinquent includes loans...

[Marc]

WHEN Whitney Pettyjohn and her 19-year-old sister, Chelsey, moved to Brooklyn last August, the best deal they could find in their price range was a two-bedroom in Bushwick with unreliable heat, nine blocks from the Morgan Avenue stop on the L train. It cost $1,700 per month.
...

[jenny_pt]

By Thomas Lawler

Thomas A. Lawler is founder of Lawler Economic & Housing Consulting, LLC, which provides data, analysis, and forecasts of housing, mortgage, financial and economic trends to a select group of clients. Mr. Lawler worked for Fannie Mae for 22 years, before retiring as...

[Marc]

Awesome photos of the impact the recession is having on people and communities



Click here to see the photos...

Cheers

Marc...

[Marc]

BY ILYCE GLINK, TUESDAY, MARCH 17, 2009.
Inman News

Q: I purchased a home in 1993 as a single man with a mortgage in my name only. In 2001, I paid off the mortgage. Not being married, I signed a quitclaim deed transferring ownership with right of survivorship to myself, a single...

[Marc]

See below... I have to admit even with my zero expereince at finance I highly doubt that USA is going to get out of the "recession" by the end of the year.

I am well into the depths of the "The Great Reckoning: Protecting Yourself in the Coming Depression" book and...

[Marc]

On January 13 Fannie Mae released an announcement describing a new policy that will allow qualified renters to remain in Fannie Mae-owned foreclosure properties. Formally known as the National Real Estate Owned Rental Policy, it is meant to address the difficulties faced by tenants who – often...

[Marc]

WASHINGTON - The world is falling into the first global recession since World War II as the crisis that started in the United States engulfs once-booming developing nations, confronting them with massive financial shortfalls that could turn the clock back on poverty reduction by years, the World Bank...

[Marc]

From: http://www.youtube.com/watch?v=wYEfFJckDyA