Random Feed wrote an interesting post today on
Here’s a quick excerpt
This morning Joe Nocera demonstrated that the biggest bankers were very much involved in the worst elements of the subprime mortgage mess. Nocera supplied a big bunch of documents that JP Morgan Chase sent out to mortgage brokers promoting no-doc home loans and other dodgy subprime practices. Here’s some more evidence of the culpability of big banks. This advertisement from “Home & Land,” a Monmouth County, New Jersey real estate promotional magazine from the summer of 2005 shows just

Read the rest of this great post here

Random Feed wrote an interesting post today on
Here’s a quick excerpt
[ Editor's Note : Shah Gilani, a retired hedge fund manager and noted expert on the global credit crisis, predicted this developing FHA debacle in a July 2008 Money Morning essay .] By Shah Gilani Contributing Writer Money Morning Is the government creating another subprime-mortgage bubble? The first time around, the three-headed federal serpent – the Bush administration, the Treasury Department and the U.S. Federal Reserve – used Fannie Mae (NYSE: FNM ) and Freddie Mac (NYSE: FRE

Read the rest of this great post here

Random Feed wrote an interesting post today on
Here’s a quick excerpt
Is the government creating another subprime-mortgage bubble? The first time around, the three-headed federal serpent – the Bush administration, the Treasury Department and the U.S. Federal Reserve – used Fannie Mae (NYSE: FNM ) and Freddie Mac (NYSE: FRE ) to “legitimize” trillions of dollars worth of toxic financial waste known as subprime mortgages. The result was the worst financial crisis since the Great Depression – a mess that was global in nature. And we’re now headed for a re

Share and Enjoy:

Read the rest of this great post here

Random Feed wrote an interesting post today on
Here’s a quick excerpt
While the subprime and prime home mortgage loan problem is still far from being solved, there is the continual loan failures coming from commercial and Alt-A loans that will continue to put tremendous pressure on the banking industry for the next couple of years, and possibly longer. Interestingly, at this time the Federal Reserve is clueless as to the risk and vulnerability inherent in commercial loans, especially at mid-sized banks, and is, under the leadership of Federal Reserve Governor Da

Read the rest of this great post here

Random Feed wrote an interesting post today on
Here’s a quick excerpt
“When buying and selling are controlled by legislation, the first things to be bought and sold are legislators.” P. J. O’Rourke Just as the Book of Proverbs states: “The road to hell is paved with good intentions.” Like many commendable acts, the end result often leads to disaster. Such is the case and evolution of the State and Federal Affordable Lending Initiatives and subprime mortgage juggernaut that spiraled out of control and resulted in the current mess we have experienced r

Read the rest of this great post here