What Delaying Foreclosures Does To Mortgage Bonds/Rates Delaying the foreclosures leads to an entirely new set of problems. Having a buildup of properties hitting markets around the country at the same time will not be good. Delaying the process raises the chance for “deeper losses to bondholders as taxes and insurance payments are fronted” according
Barack Obama
What Delaying Foreclosures Does To Mortgage Bonds/Rates Delaying the foreclosures leads to an entirely new set of problems. Having a buildup of properties hitting markets around the country at the same time will not be good. Delaying the process raises the chance for “deeper losses to bondholders as taxes and insurance payments are fronted” according
Turns out this ‘grassroots’ Elizabeth Warren rap video that made the rounds last week was produced by Hollywood bigwig composer Hans Zimmer, the music man behind many of the biggest movies of the past 25 years … from Rain Man to Gladiator to Pirates of the Caribbean to the latest Batman movies and Inception. NYT
Turns out this ‘grassroots’ Elizabeth Warren rap video that made the rounds last week was produced by Hollywood bigwig composer Hans Zimmer, the music man behind many of the biggest movies of the past 25 years … from Rain Man to Gladiator to Pirates of the Caribbean to the latest Batman movies and Inception. NYT
About 15 months ago actor Kal Penn joined the White House Office of Public Engagement, and 2 months ago he returned to Hollywood to make a third installment of the “Harold & Kumar” cult-favorite stoner movie series. In the last installment of the movie, Penn’s character Kumar smoked a joint with George W. Bush. And
The two top topics for debate following President Obama’s speech tonight on the BP oil spill are: (1) how to make BP accountable for their actions, and (2) how this spill influences U.S. energy policy. Comments on each below. Also worth noting a new statistic on BP leak rates. Last week, most estimates said 12-19k
Below is a letter President Obama sent out this weekend following his most recent visit to the Gulf to survey the effects of the BP oil spill. Requisite posturing aside, this is truly heartbreaking for those whose livelihoods will be destroyed by this spill. Yesterday, I visited Caminada Bay in Grand Isle, Louisiana — one
Chris Dodd’s financial overhaul bill needed 60 senate votes to begin a debate on the bill’s details that would eventually lead to a vote making the bill into law, but a procedural vote today came up short at 57-41, with all Republicans opposing it. So now the key provisions of the bill will be subject
The US Producer Price Index, which measures inflation at the business and manufacturing levels of the economy, was 0.7% in March and 6% year-over-year through March. Excluding volatile oil and food costs from the readings, “Core” PPI for March was 0.1% and 0.9% YOY through March. The “Core” numbers were very close to last month
Funny or Die has taken the activist route by adding a ‘contact your senator’ message at the end of this hilarious video where the last 5 ex-presidents (as portrayed by Saturday Night LIve actors) visit Obama to give financial reform advice. So have a laugh then bug your Senator.
Mortgage Markets After March 31 For the week that just ended for the Fed, their MBS purchases totaled $17.6 billion, and they sold $6.6 billion, netting out that magical $11 billion weekly total. They are right on target to end this in about a month. After March 31st, the program ceases. People will still buy
Mortgage Markets After March 31 For the week that just ended for the Fed, their MBS purchases totaled $17.6 billion, and they sold $6.6 billion, netting out that magical $11 billion weekly total. They are right on target to end this in about a month. After March 31st, the program ceases. People will still buy
What Are Covered Bonds, And Can They Help Housing? Lately there has been some talk in the investor community about using covered bonds to supplement or replace mortgage-backed securities, therefore helping the secondary market for mortgages, which in turn would help originators. What is a “covered bond”? In this case, covered bonds are debt securities
Frank Rich’s piece about Sarah Palin in yesterday’s New York Times contains the beware-Palin’s-supposedly-naive-tactics warning we’ve seen a few times since her Tea Party hand job last week. But it also makes the relevant point that, despite a GOP end game that does nothing to help those hardest hit by recession, her populist message is
Here’s Nouriel Roubini’s quick take on Obama’s budget. The full report is here (subscription required): The Obama administration released its FY2011 budget, which forecasts fiscal deficits of US$1.55 trillion (10.6% of GDP) and US$1.3 trillion (8.3% of GDP) for FY2010 and FY2011 respectively. To support economic recovery in the near term, the administration plans to
As Obama’s speech and it’s policy contents get torn apart by politicians and pundits in the coming days, the excerpt below is by far the most moving and important because it addresses the reason why nothing gets done in Washington—and because it offers a long-term perspective rather than an election cycle perspective. Here’s to hoping
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