Posts tagged bear stearns

• McCain-Palin Economic Plan Lacks Transparency in Wall Street Journal Op-Ed

  Paul Kiesel | September 10, 2008 7:03 PM | 1 CommentLos Angeles, CA Category: Miscellaneous
  

  John McCain and Sarah Palin gave their opinions on the federal government's takeover of Fannie Mae and Freddie Mac, yesterday, in the Wall Street Journal. Here are a few of the pair's stances: "The...

• Prime Borrowers Foreclosing at a Higher Rate than Subprime Borrowers

  Paul Kiesel | August 28, 2008 8:25 PM | 0 CommentsLos Angeles, CA Category: Miscellaneous
  

  The Hope Now coalition released information yesterday that finds prime foreclosure starts have finally moved ahead of subprime foreclosure starts for the first time since the industry coalition...

• Former Fed Chief Greenspan Changes Economic Outlook: Housing Nowhere Near the Bottom

  Paul Kiesel | July 31, 2008 7:36 PM | 1 CommentLos Angeles, CA Category: Miscellaneous
  

  According to CNBC.com, former Federal Reserve Chairman Alan Greenspan said the US is “nowhere near the bottom” of the housing slump and is “right on the brink” of a recession. These remarks greatly...

• Fed Misses Major Lending Abuse Issue: Mortgage Brokers Steering Borrowers into Bad Loans for Fat Fees

  Paul Kiesel | July 24, 2008 9:00 PM | 0 CommentsLos Angeles, CA Category: Miscellaneous
  

  In 2007, mortgage brokers and loan officers received huge payouts by lenders like Countrywide, Bear Stearns and IndyMac to put unsuspecting borrowers into expensive loans (supbrime, ALT-A., etc.),...

• Bush Makes Fun of Housing Crisis: 'Wall Street Got Drunk'

  Paul Kiesel | July 23, 2008 4:30 AM | 1 CommentLos Angeles, CA Category: Miscellaneous
  

  Last week, at a Houston fundraiser for Republican congressional candidate Pete Olson, President Bush asked for the TV cameras in the room to be shut off. Unaware that iPhones exist, and that someone could be recording him with such a device, he then proceeded to do a two-minute standup act that one might find David Letterman or Jay Leno doing during their opening monologues. Unfortunately, and in bad taste, Bush chose to make fun of the housing crisis, which can be viewed on YouTube, Facebook and ABC News.

• Fed is Convinced Mortgage Crisis will Spill into Next Year

  Paul Kiesel | July 08, 2008 3:18 PM | 0 CommentsLos Angeles, CA Category: Miscellaneous
  

  Ben Bernanke, Chairman of the Federal Reserve, said Tuesday morning that new lending rules would be put into effect next week to restrict exotic mortgages and to help curb other dubious lending...

• IndyMac and Fed Working Together

  Paul Kiesel | July 02, 2008 8:44 PM | 0 CommentsLos Angeles, CA Category: Miscellaneous
  

  IndyMac, in a securities filing late Monday, said that is is working with U.S. regulators on a plan to shore up the company's safety and soundness. However, other than their statements on raising...

• Will IndyMac Get a Bailout, Too?

  Paul Kiesel | July 01, 2008 8:31 PM | 0 CommentsLos Angeles, CA Category: Miscellaneous
  

  The Center for Responsible Lending released evidence yesterday, June 30, that IndyMac put itself in a hole by, "engaging in unsound and abusive lending during the nation's mortgage boom," (Center...

• Fed Backed Bear Stearns Deal to Prevent a "Contagion"

  Paul Kiesel | June 27, 2008 3:49 PM | 0 CommentsLos Angeles, CA Category: Miscellaneous
  

  On Friday, the Federal Reserve released documents showing why, in March, it chose to save Bear Stearns from bankruptcy. Ultimately, the Fed felt compelled to do something because of fear that...

• IndyMac may be the Next Mortgage Lender on the Brink of Failure

  Paul Kiesel | June 26, 2008 8:28 PM | 1 CommentLos Angeles, CA Category: Miscellaneous
  

  U.S. Senator Charles Schumer asked U.S. regulators to analyze the financial health of Indymac, as Schumer believes the company may be on the brink of failure. The FDIC, the Office of Thrift...