Jan 31 2009
California Budget: California has Run out of Money, Starting Monday. $42 billion deficit and Economic Problems and Future Issues. Investment Forecast for the State.
The California housing and finance driven economy is coming to a destructive end. On Monday February 2nd 2009, California’s chief accountant will start delaying payments totaling approximately $4 billion. In this pot of money, the state will be postponing income tax-refunds, college grants, and welfare checks. Now we really see the pickle of this budget [...]
Jan 29 2009
Cram Downs: A Bad Bank and Cram Downs are Diametrically Opposed Ideas.
While the market is intrigued by the nearly $1 trillion fiscal stimulus plan, a mortgage cram down bill has already passed the House. It is amazing that it has taken this long to even get this thing going if the true premise of the politicians and policy makers was to save homeowners from losing their [...]
