Posts Tagged ‘default’The State of the Markets – 11/3/2009This post first appeared in the November edition of Cirios Trends: Getting to the Bottom of the Housing Market Of the myriad debates ongoing at a time when economics and politics are seemingly two heads of the same freakish snake, the role government should play in directing economic actions dominates an already ideologically charged arena. [...] Government to Banks: We Recommend Throwing Good Money After BadBy ANDREW JEFFERY This post first appeared on Minyanville. Every month, it seems, Washington dreams up new and fantastic ways to funnel taxpayer money towards a growing list of undeserving recipients. Now, in the latest attempt to coerce banks into modifying delinquent mortgages en masse, the Treasury Department plans to offer cash incentives to lenders [...] Banks Rev Up Foreclosure MachineBy ANDREW JEFFERY This post first appeared on Minyanville. For almost 2 years, we’ve been told government-backed loan modification efforts and foreclosure moratoriums would help ease the pain of the ongoing housing crisis. It’s not working. Despite recent calls to the contrary — this morning’s came courtesy of real-estate mogul Sam Zell — residential home prices are still in free [...] Fed Jumps on Loan Modification BandwagonBy ANDREW JEFFERY This post first appeared on Minyanville. “If at first you don’t succeed, try, try again” – and you certainly can’t fault lawmakers for a lack of persistence in trying to stem the epidemic foreclosures plaguing America’s housing market. Sadly, they insist on trying the same failed strategies over and over again. For [...] Freddie Blows Through Another $35 BillionBy ANDREW JEFFERY This post first appeared on Minyanville. $100 billion just isn’t what it used to be. Over the weekend, Freddie Mac (FRE) requested a second draw on its Treasury Department credit facility, saying $30-35 billion would suffice to keep its net worth above zero, thank you very much. After taking $14 billion in [...] |