Archive for November, 2008
Loan Modifications Could Present Constitutional Problems?
Loan modifications are gaining a lot of momentum, both politically and within financial institutions themselves. Some economist are even coming to the conclusion that it is the fastest way to put a floor on housing prices, but could it raise Constitional dilemma?
Daniel Alpert of the RGE Monitor does and interesting analytical piece, exploring the Constitutionality [...]
Bair, Paulson Showdown Hits the (Public) Congressional Floor
We knew this was coming…the Bair/Paulson Smackdown.
This is truly a rare event to watch two government agencies open up a public battle for power and leadership. The sides are aligned: Treasury Secretary Paulson/White House versus FDIC Chairman Bair (a Bush appointee)/Congressional Democrats.
The strategy seems clear–Paulson is playing to hold the line for the next 9 [...]
Unemployment Economic Edition
I though since our economy is (almost sequentially) taking us through a course in classic economic theory I would make today a deep dive on employment and its role in the economy.
Economic Reading
If you are looking to brush up on all of your economic classics I have assembled a great economics reading list. Or, if [...]
TARP Reversal, Mortgage Servicers on Hot Seat, China Rapidly Slowing
TARP Reversal, Paulson ADHD?
Paulson leads his dramatic redirection of the Trouble Asset Relief Program (TARP) with an adaption of John Maynard Keynes, “When the facts change, I change my mind – what do you do, sir?”:
Treasury Secretary Henry Paulson, whipping out his dead economist quote book, used this gem from John Maynard Keynes to justify [...]
Loan Modifications Primer for Mortgage Industry
If you don’t know loan modifications you are going to have a hard time surviving this mortgage business cycle. Despite all of the appealing government assistance and FHA mortgage refinance programs, banks and now the government is settling into massive programs to streamline loan modifications for troubled homeowners.
Here is a quick primer on loan [...]
AMEX Bank, ABA No New Regs, Big Bank Loan Modifications, Economist Turn Negative, 10 Benefits of Recession
American Express Becomes a Bank
American Express becomes a bank, getting unprecedented speedy approval to become a Federally chartered bank. This is likely a smart preemptive move by American Express to hedge mounting credit card troubles by gaining access to TARP bailout funds. The cautionary part of this tale–how bad might those mounting losses be for [...]
Obama “Big Bang,” Auto Industry, First Time Home Buyer, China Stimulus Package
Obama Gearing Up “Big Bang” Reform Plan?
The Obama team is analyzing analogies of FDR and attempting to avoid warnings of Carter-style open 100 days. This is certainly on the minds of an Obama economic advisory board that is in full motion on Obama’s opening economic moves.
“We can’t afford to wait on moving forward on the [...]
The Obama Mortgage Market Edition
TARP II-A Better Troubled Asset Relief Program
Will Obama focus on building a “better” TARP? One that looks more like the original Paulson plan, zeroing in on setting a price on the seed of the mortgage meltdown–”troubled assets?” Notably a portion of the TARP acronym, but reprioritized immediately out of the gate to a bank recapitalization [...]
President-Elect Obama’s To-Do List
President-elect Obama Economic To-Do List
New York Times does a nice job of assemblying an economic to-do list for the new President-elect, with break-out depth on each topic.
A highly recommended read to get your arms around the monumental tasks we and Obama have mandated on his election.
(photo credit: florian)
Obama Reviewed, China, TARP Update, Bank of England, Wal-Mart Indicator
Obama Election Reviewed
Everyone is jumping in with there review and assessment of President-elect Obama. Here is what the financial services wonks are saying:
Blown Mortgage is tracking Obama’s Housing Promises
Henry Blodget on the Yahoo! TechTicker is noting Obama already reseting expectations
Wall Street Journal is ttracking Economists reactions to Obama
Paul Kedrosky says Wall Street doesn’t care
China Crash [...]
