Archive for December 5th, 2008

Friday Night Riffs

It looks as if the Bushies won one of their final battles. The inevitable battle over the Detroit bailout appears to be nearing an end game. Pelosiis saying that Congress will advance the failed automakers big bucks out of the $25 billion meant to finance green cars. This is a pyrrhic victory at best for the Republicans [...]

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Friday Failure

First Georgia Community Bank of Jackson, Georgia was closed by the regulators today. FromMarketWatch: The four branches of Jackson, Ga.-based First Georgia will re-open Saturday as United Bank, which has assumed First Georgia’s deposits, the Federal Deposit Insurance Corp. said in a statement. United Bank agreed to assume the deposits for a 0.811 premium, the [...]

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Jobs And Mortgages Look Worse Than Ever

Posting will be a little light tonight as I have the first of the Season’s festivities to attend. Over the weekend I have quite a few thoughts that I want to put down and get out. I can’t, however, let the day go by without acknowledging two extremely bad pieces of economic news. First, the [...]

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What Will The Courts Have To Say About Loan Modifications?

Here is a tale of what lies ahead for the mortgage and banking industries. The issue of litigation over the modification of loans and certainly more issues is going to clog the courts for some time. Substantial damages could accrue to the lenders and the issue may well come to rival the asbestos litigation chronicles [...]

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