Archive for April 10th, 2009

Friday Failures

Even on the Easter weekend the FDIC is on the march. Here are the latest bank seizures: Cape Fear Bank, Wilmington, North Carolina New Frontier Bank, Greeley, Colorado

Budget Math

The fiscal year for the U.S. government begins in October. That means that as of March we were half way through the year. The deficit for the first six months was $956.8 billion. To put that in perspective, the deficit for the first six months of 2008 was $312.75 billion and for the full year […]

Things Are Never What They Seem To Be In The Mortgage Market

Whatever else might be wrong with the country right now, it appears as if the propensity to game the system is still strong. Here are a couple of examples. HousingWire reports that a company in Georgia, Metro Buyers Group, LLC, is buying the new homebuyer tax credit from potential buyers. They then use the money […]

What Is Obama’s Plan For The Banks?

What is the Obama administration up to with the banks? That’s been the question flying around the Web the last two days. Naturally, there’s no shortage of answers. Henry Blodgett at Clusterstock suggests that they may be paralyzed with fear of causing another Lehman type meltdown or more disturbingly that they are in the back […]