USA Today says that Chrysler is trying to make its cars more appealing by painting them in bright colors like orange and lime green. They’re also trying to make them more appealing by painting the name “Toyota” on them. Bill vs Note vs Bond Knowing the right name is important. What is the difference, in
GMAC
I tried to find some jokes about state budgets, but was unsuccessful. They are simply not a laughing matter. Perhaps even as large a problem as credit card defaults, or commercial loans, both of which may require government bail outs, by the end of this month 19 states have to approve their fiscal 2010 budgets,
General Motors has filed for bankruptcy, and they also want billions more in bailout money so they can restructure their debt. “You want more money? Wait here while I talk to the manager. I’ll be right back.” First-Time Homebuyer Tax Credit Facts There is still some confusion about the guidelines for use of the first-time
My kids asked me, “Which of your five senses tends to diminish as you get older?” I told them “My sense of decency.” Will Higher Rates Stall Economic Recovery? May was the third month in a row for stock market gains. Stocks have been appreciating as the credit freeze and bank liquidity crisis has eased,
Last night I heard my daughter saying her prayers. “Dear God, please send clothes for all those poor ladies in Daddy’s computer. Amen.” Analysis of Mortgage Bond Selloff and Rate Projections One trader said, “Mortgages are getting banged like a screen door in a hurricane.” I assume that he was talking about mortgages and bond
I want to warn people from Nigeria that if you get any e-mails from Washington DC asking for money, it’s a scam. Don’t fall for it! Or maybe from Charlotte, North Carolina. It’s been a while since I have seen anyone use the word “hoodwinked” in a sentence, but this reporter did in describing a
Later today, results of the government conducted stress tests on the nation’s 19 largest are likely to reveal that some of these banks will need about $65 billion in additional capital, maybe more. Banks who need to raise money to cover potential losses in the coming two years are as follows: Bank of America Bank
Treasury and the Fed are finalizing debates with US banks over stress tests that will reveal their capital adequacy when results are announced Thursday, May 7. Up to 14 of the 19 largest US banks—including Goldman, GMAC, MetLife, Fifth Third, and Regions—may need to raise common equity in the event the recession worsens. This according
I am very happy that the markets have been rallying after the Treasury said it was going to help banks sell off their toxic assets. I’m no economist, but maybe you should stop calling them “toxic assets”. It makes me want to head off to K.F.C. and buy salmonella chicken and then head to GM
The former Treasury secretary, Henry Paulson, is writing a book about his role in the Bush administration during the economic crisis. Oddly, the book starts on Chapter 11. End of Month Lender Strain It is the last day of the month. Not only are Ops departments everywhere scrambling to fund loans while they keep an
The economic downturn has more Americans shifting to smaller homes. For example, Bernie Madoff just traded a 3,500 square foot penthouse for a 9 x 10 windowless studio in lower Manhattan. And for anyone needing financing on larger homes, it appears that Bank of America is truly “ruling the roost” when it comes to jumbo
TALF Q&A Here’s everything that you wanted to know about TALF but was afraid to ask. Stimulus By State And here’s everything you wanted to know about how the stimulus activity impacts your state. Countrywide (“Countryfine”) On the Simpson’s Warehouse Lending Getting Smaller Banks in the warehouse lending business are making difficult decisions with regard
Of course, March is known for many things. Saint Patrick’s Day, the Ides, possibly Easter. And, of course, “springing ahead”. This Sunday morning everyone with a clock or watch will wander from room to room, remembering how to change the time on microwaves, wondering if their computers or cell phones do it automatically. Loan Guideline
Here’s something shocking – officials in Mendocino County, California, say two thirds of the income in that county comes from marijuana growing. And the other third comes from the sale of Chips Ahoy cookies. How Much is $1 Trillion Lawmakers and economists throw “billions” and “trillions” around. To put a “trillion” in perspective, at a
The economy is getting worse. Home Depot announced that they’re laying off 7,000 employees. This is interesting because I’ve been to Home Depot, and I didn’t even know they had employees! Waiting For Rates Heck, I am not a loan agent, and even I have a floating pipeline! Just kidding, but every originator out there
JPMorgan Chase has posted a surprise profit for 2008. Wall Street was shocked by the bank’s radical business plan that included not paying $100 million bonuses to failed executives and only lending money to people who could pay it back. Fifth Third Yesterday Fifth Third Bancorp, Ohio’s second largest bank, announced that they had lost
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