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More on the Credit/Banking Crisis
05 Tuesday Aug 2008
Tag Archives: financial
John Hussman on Why the Credit Crisis is So Bad.
21 Monday Jul 2008
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Hussman Funds – Weekly Market Comment: How the War, Tax Cuts and the Swaps Market Debased the U.S. Financial System – July 21, 2008 via kwout
This is a long article and not an easy read, but well worth the effort. BTW I have a substantial portion of my IRA invested in the Hussman Funds.
2nd Largest Bank Failure in US History Today
11 Friday Jul 2008
After Mortgage Bubble Bursts, Regulators Decide to Act
09 Wednesday Jul 2008
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Federal regulators prepare to tighten mortgage rules – Los Angeles Times via kwout
Where were these geniuses when the bubble was inflating? What’s the saying? Close the barn door after the horse has departed.
New thing in mortgages: walking away
12 Tuesday Feb 2008
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Should You Walk Away? – Educate Yourself On Your Rights If You Face Foreclosure. Our Website Can Help You. via kwout
There’s a web site called youwalkaway.com that tells people how they might benefit from mortgage foreclosure. Strange what one can stumble upon on the web, isn’t it? My own take is that people who were trying to get something for nothing by flipping houses and are now in financial difficulty earned what they’ve received. And for lenders who loaned money to those they should have known could not pay it back, well, these lenders are not going to be paid back.
I hope that these losses are not socialized to those of us who were honest and responsible. But I suspect some kind of federal bailout is coming our way, at our expense of course. This is even more likely if we wind up with a Democratic president and a Democratic congress. I’m glad I own gold 🙂
Dagny's Desk 