Sep 6 2008

Fannie Mae Mortgage Portfolio: $64.5 Billion in Alt-A or Sub-prime Loans. Why This is not a Conservative Bailout.

As we inch closer and closer to a full fledged bailout of the two giant government sponsored entities, Fannie Mae and Freddie Mac it would be useful to dig into their financial statement to see how one of their portfolios’ is structured.  Unfortunately the general public is under the impression that Fannie Mae somehow operated […]

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Jul 26 2008

Nearly 1.5 Million Foreclosure Filings in 2008. California Represents 110,000 of Those Foreclosures.

Everyone by now realizes that not all states are facing the same problems with the current housing market. Foreclosures are now accelerating in states that had the highest appreciation in prices and consequently, are causing the most financial damage that is rippling throughout the economy. Foreclosures are the worst sign in any housing market. They […]

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Apr 28 2008

Rebate Checks Go Out Tonight: Too Little Too Late.

The much anticipated rebate checks start going out today. In fact, over the next few weeks $110 billion will be sent out to the American public. This week, only electronic deposits will occur with paper checks being sent out later. There seems to be a contingency of people who believe that this is enough to […]

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Apr 2 2008

$231 Billion in Writedowns and Credit Losses: The List of Mortgage Players Grows Larger.

Yesterday UBS AG said it would write down a staggering $19 billion on assets connected to mortgage assets. The figure is staggering yet the market rallied nearly 400 points on this news. Have we reached a turning point where writedowns simply do not matter? This figure was the largest since the writedowns started last year. […]

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Mar 17 2008

Bear Stearns: The Rise and Fall of the Mighty Bear.

Unless you’ve been living under a rock, you are probably aware of the JP Morgan/Fed orchestrated bailout. The amazing thing about this entire situation is how quickly Bear Stearns went under. In the matter of one year, the once fifth largest investment bank was bought out for a pittance of its once mighty price. Bear […]

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