Let me be right upfront about this. I don’t like Elizabeth Warren or this rump panel she chairs that Congress created to provide oversight for TARP. They’re prone to grandstanding and operating outside their purview and today’s missive was another example of that. Today, they reported out a statement that the banks continue to hold troubled […]
Archive for August 10th, 2009
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Lessons From CIT
Posted by Tom Lindmark on August 10th, 2009
Here’s a dirty little secret for you. The market actually works and we don’t need to bail out everyone. I guess that’s two secrets. Remember how the imminent demise of CIT was going to tank small businesses from sea to shining sea. The usual suspects were in full Armageddon mode with predictions that if we […]
More On The Extra Planes That Congress Ordered
Posted by Tom Lindmark on August 10th, 2009
Remember my post about Congress larding up the Pentagon’s request for new corporate jets which it just so happens Congress gets to use? Well, the Pentagon is pushing back. From MarketWatch: “Whether the funding is added to the budget or taken from somewhere else, it ultimately comes out of things that we believe are more […]
CMBS Delinquencies Soaring
Posted by Tom Lindmark on August 10th, 2009
Delinquent CMBS rose to 3.04% at the end of July which represents a jump of 0.5% in one month according to Fitch Ratings. Here is the company’s summary of the current situation and trend: ‘For the past several months, delinquencies have increased at a rate of over $2 billion per month; the 30-to-60 day rollover […]
A View On Equity Markets
Posted by Tom Lindmark on August 10th, 2009
SwapRent: An Alternative For Saving Underwater Homeowners
Posted by Tom Lindmark on August 10th, 2009
A couple of weeks ago I put up a post about a mortgage concept called SwapRent. It’s the creation of Ralph Liu, a highly accomplished financial technician. Since then the subject of mortgage modifications and the success or lack thereof has come back to the front burner and with it a lot of proposals that […]
