CNBC Classic: The Call For A 21st Century Tea Party
February 19, 2009
Tweet I’ve mentioned before the dislike I have for CNBC, but I was just sent a clip from earlier today on CNBC that is worth watching. Rick Santelli, who some of you may know as the guy who reports from the trading floor, lost it and went on a mini-tirade about the way the government [...]
Read More >>Government Unveils Its Plan For Housing
February 18, 2009
Tweet Obama and the U.S. Treasury have revealed their housing plan, and its both extensive and wildly expensive. The government is putting aside $75B to help 9 million homeowners stay in their homes. In addition, $200 billion in losses will be absorbed at Fannie Mae and Freddie Mac. The program requirements will be laid out [...]
Read More >>Mortgage Modification Talk Swirling
February 6, 2009
Tweet The new Treasury Secretary Tim Geithner is set to hold a press conference on Monday to discuss his new plan for helping the economy get back on its feet. It’s not clear exactly what will be proposed, but one of the latest efforts which is being talked about is the government using some $100-150B, [...]
Read More >>Now Commercial Real Estate Developers Want A Bailout
December 22, 2008
Tweet According to an article in the WSJ this morning, developers are going to Capitol Hill with hat in hand looking for a bailout. Being in the CRE industry, I have to say this is getting out of hand. The blowup of the housing market and the ripple effect have caused the government to step [...]
Read More >>Can The Federal Reserve Deny Freedom of Information Requests (FOIA) Requests on the Basis of It Not Being a Government Entity?
December 13, 2008
Tweet The Federal Reserve refuses to tell taxpayers who it gave $2 Trillion to. That said, don’t be surprised if you find out in the next few days that the Federal Reserve Banks are not really government institutions. It might very well be on that ground that they refuse any and all FOIA (Freedom of Information [...]
Read More >>The Bailout and The Big 3
December 10, 2008
Tweet I was sent this graphic illustrating the current economic bailout in comparison to all the other large government projects in our history. The size of the bailout is staggering. I don’t believe it includes the bailout we are contemplating providing the Big 3 automakers either. Not sure how much to say about that particular [...]
Read More >>House Defeats Bailout
September 29, 2008
Tweet The House of Representatives voted 228 to 205 against the bailout this afternoon. It will likely go back to get reworked but for the time being it is going to translate into market peril worldwide. The Dow is already down about 5%, and the slide will likely continue across the globe. A bailout of [...]
Read More >>Bailout Proposal Nothing More than a Patriot Act II
September 24, 2008
Tweet “Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.” That’s section 8 of the Treasury Department’s bailout proposal that the government is looking to drive through in much the same manner that it did [...]
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