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- With Fannie Mae & Freddie Mac on the brink of failure, your corrupt monkeys in DC have just passed a bill to RAISE the size of mortgages they can buy
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How can I put this simply?Let’s say you had an uncle who was an unemployed cocaine-using junkie. But instead of putting him in rehab, you gave him your brand new no-limit credit card, and a kilo of coke. And the keys to your car….
Original Source: housingpanic.blogspot.com
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11 July, 2008| housingblogs |
Comments (0) @ 19:53
- INDYMAC - Second Largest Bank Failure In U.S. History
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IndyMac Bank seized by federal regulators by LA Times snip:…
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11 July, 2008| housingblogs |
Comments (0) @ 19:19
- Where is CR?
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Hiking in the Sierras ……
Original Source:
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11 July, 2008| housingblogs |
Comments (0) @ 19:00
- You Know the Saying, "Celebrities Always Die in Threes"? Banks Always Fail in Hundreds.
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A bank failure - particularly the failure of a large bank for reasons that are not idiosyncratic - should sound alarm bells in the brain of anyone who knows the statistical distribution of bank failures….
Original Source: www.creditbubblestocks.com
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11 July, 2008| housingblogs |
Comments (0) @ 18:20
- You Know the Saying, "Celebrities Always Die in Threes"? Banks Always Fail in Hundreds.
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A bank failure - particularly the failure of a large bank for reasons that are not idiosyncratic - should sound alarm bells in the brain of anyone who knows the statistical distribution of bank failures….
Original Source: www.creditbubblestocks.com
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11 July, 2008| housingblogs |
Comments (0) @ 18:20
- You Know the Saying, "Celebrities Always Die in Threes"? Banks Always Fail in Hundreds.
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A bank failure - particularly the failure of a large bank for reasons that are not idiosyncratic - should sound alarm bells in the brain of anyone who knows the statistical distribution of bank failures….
Original Source: www.creditbubblestocks.com
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11 July, 2008| housingblogs |
Comments (0) @ 18:20
- FDIC Comments Imply a Big Haircut for IndyMac’s Loans
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The following items are from this WSJ article about the IndyMac failure:IndyMac had roughly $19 billion of deposits. Nearly $1 billion of those deposits were uninsured, affecting about 10,000 people, the FDIC said.The Pasadena, Calif., thrift was one of the largest savings and loans in the country, with about $32 billion in assets.The collapse is expected to cost the Federal Deposit Insurance Corp. between $4 billion and $8 billion, potentially wiping out more than 10% of the FDIC’s $53 billion deposit-insurance fund….
Original Source: www.creditbubblestocks.com
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11 July, 2008| housingblogs |
Comments (0) @ 18:19
- FDIC Comments Imply a Big Haircut for IndyMac’s Loans
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The following items are from this WSJ article about the IndyMac failure:IndyMac had roughly $19 billion of deposits. Nearly $1 billion of those deposits were uninsured, affecting about 10,000 people, the FDIC said.The Pasadena, Calif., thrift was one of the largest savings and loans in the country, with about $32 billion in assets.The collapse is expected to cost the Federal Deposit Insurance Corp. between $4 billion and $8 billion, potentially wiping out more than 10% of the FDIC’s $53 billion deposit-insurance fund….
Original Source: www.creditbubblestocks.com
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11 July, 2008| housingblogs |
Comments (0) @ 18:19
- FDIC Comments Imply a Big Haircut for IndyMac’s Loans
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The following items are from this WSJ article about the IndyMac failure:IndyMac had roughly $19 billion of deposits. Nearly $1 billion of those deposits were uninsured, affecting about 10,000 people, the FDIC said.The Pasadena, Calif., thrift was one of the largest savings and loans in the country, with about $32 billion in assets.The collapse is expected to cost the Federal Deposit Insurance Corp. between $4 billion and $8 billion, potentially wiping out more than 10% of the FDIC’s $53 billion deposit-insurance fund….
Original Source: www.creditbubblestocks.com
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11 July, 2008| housingblogs |
Comments (0) @ 18:19
- Bank failures and bailouts
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The word for today is “collapse” - Freddie Mac, Fannie May, IndyMac, the FTSE, Spain and the UK consumer are all crashing.US housing bailout moves forwardThe US is about to embrace socialism. The senate has just passed a bill that will see the government insure some $300 billion of home loans. It won’t be long before this mad idea washes up here in the UK….
Original Source: ukhousebubble.blogspot.com
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11 July, 2008| housingblogs |
Comments (0) @ 18:16
- FDIC shuts down IndyMac
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The US regulators has just closed the Californian mortgage lender IndyMac, which failed to secure funding to cover $900 million of losses.As bank failures go, this is a big one. After IndyMac was America’s second-biggest independent mortgage bank and ninth largest mortgage lender overall. It had $32 billion of assets, at least on paper. Furthermore, IndyMac had around 10,000 depositors had funds in excess of the insured limit $100,000. Depositor losses could exceed $1 billion, which will do wonders for depositor confidence….
Original Source: ukhousebubble.blogspot.com
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11 July, 2008| housingblogs |
Comments (0) @ 17:39
- IndyMac Closed By FDIC
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Full press release here:IndyMac Bank, F.S.B., Pasadena, CA, was closed today by the Office of Thrift Supervision. The Federal Deposit Insurance Corporation (FDIC) was named conservator. The FDIC will transfer insured deposits and substantially all the assets of IndyMac Bank, F.S.B., Pasadena, CA, to IndyMac Federal Bank, FSB. Brokered deposits will be held by the FDIC and those insured deposits…
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11 July, 2008| housingblogs |
Comments (0) @ 17:16
- Is PANIC finally here?
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Original Source: housingpanic.blogspot.com
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11 July, 2008| housingblogs |
Comments (0) @ 17:13
- Feds cite Schumer in collapse of IndyMac
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An important angle in the IndyMac failure that may get lost in ominous headlines tonight and tomorrow: federal regulators pointedly cited U.S. Sen. Charles Schumer, D-N.Y., in explaining the bank’s failure. In simple language, federal regulators blamed Schumer for a run on the bank.
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Original Source: feeds.latimes.com
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11 July, 2008| housingblogs |
Comments (0) @ 17:03
- UK house prices down 23 percent (in euro terms)
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I had a lot of requests for this chart. People wanted to see how UK house prices fared when denominated in euros. It is an interesting question. It is not only house prices that have fallen in recent months; sterling has also crashed against the euro. …
Original Source: ukhousebubble.blogspot.com
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11 July, 2008| housingblogs |
Comments (0) @ 16:52
- Inflation numbers out on July 15th
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I’ve just put up my very first reader poll (see box on the right hand side of the page). Hopefully, it will provoke some interest.The first question up for discussion will be the June inflation rate. In May, the CPI rate was 3.3 percent; what is the consensus number for June. Feel free to do more than just vote. Comments are always welcome….
Original Source: ukhousebubble.blogspot.com
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11 July, 2008| housingblogs |
Comments (0) @ 16:41
- Breaking: Federal regulators take control of IndyMac
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Breaking news from L.A. Times: "Federal regulators say they have taken control of Pasadena-based IndyMac and will transfer control to the FDIC."The federal take over of the bank comes j…
Original Source: feeds.latimes.com
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11 July, 2008| housingblogs |
Comments (0) @ 15:17
- How Fannie met Freddie: The True Hollywood Story of Fannie Mae and Freddie Mac.
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In order to understand the current market turmoil it is important to look at the history behind the two largest government sponsored entities (GSEs), the Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac). Fannie Mae was founded as a government agency, part of FDR’s New Deal in 1938 during the Great Depression …
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11 July, 2008| housingblogs |
Comments (0) @ 15:04
- Wachovia receives a $41 million haircut from 1372 Broadway
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I am marking this day - this is the first sale that undeniably shows NY office prices (not just transaction volume) are slipping:Wachovia, owner of 85 percent of 1372 Broadway, and minority owner SL GreenRealty Corp. agreed to sell the building for $294 million, or about $542 asquare foot, to a partnership led by New York investor Lloyd Goldman, they said.Wachovia, the fourth- largest U.S. bank, acquired its interest in July 2007 from…
Original Source: realestaterisk.blogspot.com
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11 July, 2008| housingblogs |
Comments (0) @ 13:59
- RUN ON THE BANK FLASH: Implode-O-Meter reports toxic lender IndyMac now under taxpayer (FDIC) control (UPDATE - THIS IS CONFIRMED)
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UPDATE - IMPLODE-O-METER SCOOP IS NOW CONFIRMED BY THIS FDIC URGENT RELEASE:I…
Original Source: housingpanic.blogspot.com
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11 July, 2008| housingblogs |
Comments (0) @ 13:51
