Posts tagged bailout

• WaMu in 2003: Five Years from Now You're Not Going to Call Us a Bank

  Paul Kiesel | January 05, 2009 7:51 PM | 0 CommentsLos Angeles, CA Category: Miscellaneous
  

  Last week, The New York Times concluded its series titled The Reckoning, a behind-the-scenes expose of several mortgage industry companies, players and employees whose business plans and myopic...

• Obama Names Economic Dream Team

  Paul Kiesel | November 24, 2008 3:28 PM | 1 CommentLos Angeles, CA Category: Miscellaneous
  

  Earlier today, at a press conference in Chicago, President-elect Barack Obama called for sound judgment and fresh thinking in addressing the nation's economic crisis, which he described as a...

• NYT: Former SEC Lawyer, "Phil Gramm is the Single Most Important Reason for the Current Financial Crisis"

  Paul Kiesel | November 17, 2008 9:06 PM | 0 CommentsLos Angeles, CA Category: Miscellaneous
  

  If there's no such thing as bad publicity, why is it that 2008, for former Republican senator Phil Gramm, has been nothing but bad publicity for the man who John McCain once credited with saving his...

• Interim Head of Government Bailouts, Neel Kashkari, Called a "Chump" by One Congressman, While Another Compares Him to Mel Gibson

  Paul Kiesel | November 14, 2008 7:09 PM | 2 CommentsLos Angeles, CA Category: Miscellaneous
  

  Neel Kashkari, the interim head of the Troubled Asset Relief Program (aka the Treasury Department's $700 billion financial rescue plan or TARP), came under heavy fire today at a House Oversight and...

• Rep. Barney Frank: No "Free Rides" for People Facing Foreclosures

  Paul Kiesel | November 13, 2008 4:22 PM | 0 CommentsLos Angeles, CA Category: Miscellaneous
  

  House Committee on Financial Services Chairman Barney Frank noted yesterday that a bailout program for troubled homeowners is needed to prevent the foreclosure crisis from spinning out of control....

• Downey Savings: We Need a Cash Infusion

  Paul Kiesel | November 12, 2008 8:58 PM | 0 CommentsLos Angeles, CA Category: Miscellaneous
  

  Downey Savings might be the next bank to require government intervention (i.e. see FDIC IndyMac), as its most recent quarterly filing cites a significant risk that the bank will not be able to raise...

• Need Money for a $6,000 Golf Outing? Just Ask the Government and Say You're Fannie Mae...

  Paul Kiesel | November 06, 2008 3:27 PM | 1 CommentLos Angeles, CA Category: Miscellaneous
  

  ...And then tell them that it's in order to keep you from going insolvent and to keep your business doors open. That was basically the ridiculous acknowledgment made by Fannie Mae on Tuesday...

• It Could Happen to Anybody...

  Paul Kiesel | October 30, 2008 9:02 PM | 0 CommentsLos Angeles, CA Category: Miscellaneous
  

  Here's an excellent piece written by Mike Cassidy of the San Jose Mercury News on the realities of the foreclosure crisis, which has yet to be abated by the government or lenders. Mr. Cassidy's...

• Reuters: Microsoft Warns of Financial Crisis E-mail Scams

  Paul Kiesel | October 29, 2008 3:58 PM | 0 CommentsLos Angeles, CA Category: Miscellaneous
  

  Loan modification scams are becoming more prevalent as most of the nation, along with nefarious scam artists, is aware of the $700 billion financial bailout that was passed weeks ago. Congress and...

• Two Foreclosure Relief Plans that Don't Require a Government Bailout?

  Paul Kiesel | October 27, 2008 5:22 PM | 8 CommentsLos Angeles, CA Category: Miscellaneous
  

  As noted last week, the FDIC and Congress both have foreclosure bailout plan proposals that would require the government to buy under water mortgages and place those borrowers into government backed...