Reaction to Proposed Market Bailout
The grim reality facing our financial markets has finally hit a low that even President Bush—who has a “let the market police itself” ideology—has decided it’s time to intervene. The cost to taxpayers is going to be enormous, possibly $500 billion. But for those hung up on this concept need to take a step back [...]
AIG Consumer Information
In light of the recent news regarding the Federal Reserve’s decision to loan insurance giant AIG $85 billion in return for as much as 80% ownership of the company has raised a lot of questions amongst consumers. Because of the enormous size of AIG (likely the reason for the bailout) many of you may have [...]
U.S. Treasury Department Contracts Out Its Own Job
The U.S. Treasury Department has recently hired Morgan Stanley, an investment bank, to assess how vulnerable the Government Sponsored Enterprises (GSE) of Fannie Mae and Freddie Mac are to future economic problems, in part by evaluating how much capital the GSEs should have in the future to weather any such similar housing problems. GSEs are [...]
Top Financial Leader Thinks Second Wave of Foreclosures Coming July 1
“We have a wave of foreclosures coming after July 1, which may make the first wave look small by comparison.” - Sen. Christopher Dodd (D-CT)
Earlier this week, Senator Christopher Dodd (D-CT), Chairman of the Senate Banking, Housing, and Urban Affairs Committee, expressed his less than enthusiastic financial forecast for the coming months during a Securities [...]
Why Didn’t I Receive My Economic Stimulus Check?
It’s early May, the last two digits of my social security number are between 00-20 and I filed my taxes on time with a direct deposit and I have some serious spending to do – where is my stimulus? Well, serious spending is more like a new ceiling fan and light fixtures, but hey, [...]
