Having written several articles on Negative Amortization Loans, telling of the details of what is wrong with them, and even destroying the myth of Option ARM cash flow, I sometimes get asked if I would like to see them banned...
Scapegoating, anyone? Brian Brady notes Barney Frank's misplaced quest for one. 1- Prohibition of "yield spread premium" as compensation to originators. 2- Mandatory licensing of mortgage originators by a Federal registry or state regulator. This Bill does direct the...
I haven't been talking much about the election here this time. Instead of making an endorsement, I am going to talk about the most salient fact of the election, and the rest of our lives until it is dealt with....
Hello dear friend, My name is Barack Obama. You may have heard of how I spent $16 trillion dollars over the course of my last four years as President of the United States. I have thus far managed to...
Zero Hedge Romney: [The] former head of Goldman Sachs, John Whitehead, was also the former head of the New York Federal Reserve. And I met with him, and he said as soon as the Fed stops buying all the debt...
Something I feel the need to point out when people talk about current issues with the real estate market, for instance, housing prices fall yet again, mortgage rates hitting new lows yet again or the Federal Reserve indicating a need...
This has been bothering me ever since that debate, complete with all the left wing crap about conservatives cheering for a death. They weren't cheering for a death; they were cheering because someone running for public office wasn't giving an...
Make no mistake - it was an assassination. Team of heavily armed men hired by a group breaking down the door with orders to shoot him dead rather than capture. The only difference is instead of wearing business suits and...
It has become clear to me in the past few weeks that the United States is facing imminent financial failure. I have known since at least the early 80s that if something were not done, the bill would come due...
This year there's a lot of political energy being expended in the name of ousting big government incumbents from office. That's treating the symptoms of the disease, not the disease itself. It's tempting to humanize the problem, to say...
The main body of this article is a reprint from December 2007. I will add some comments as to how this has shaken out thus far. I was thinking we were ready for a recovery here in San Diego, but...
Megan McArdle on Obama's proposed bailout So the plan: 1. Forces the bloated and undercapitalized mortgage agencies to take on more debt without regard to creditworthiness 2. Cleans up only the least toxic loans 3. Will cost some unknowably...
Today, the President announced "a plan" to theoretically aid homeowners. Unfortunately, judging from the information available, it looks more like a Wish List than a Plan. People may be eligible to refinance if their loan to value ratio is 105%...
I am sorry, but I cannot stay silent on this matter any longer. Several years ago there was a a Proposition on the California ballot regarding gay marriage. I voted in favor of gay marriage then, but as I recall,...
The election is in a few days. While it has become plain to me that the reporting of the polls has been manipulated (along with everything else) by a media actively campaigning for Obama, the math apparently says that...
(expletive) unbelievable. Or rather, should I say, all too believable: House Democrats Contemplate Abolishing 401(k) Tax Breaks Words fail, but I'm going to try anyway: Do you have any idea how much of a difference for the worse it...
These are set up to allow Presidential Candidates to appeal directly to large amounts of people. So how did they do? The Second Debate: How did it influence your vote?Was McCain, still McCainLeaning more McCainWas Neutral; still amLeaning More...
Three Poll Questions and lest it be unclear, one person, one vote (in each), i.e. enlightened democracy rules. How did Sarah Palin do? Did Your Opinion of Sarah Palin as Vice Presidential Candidate Improve or Deteriorate with her performance at...
Scroll down or hit reload for UPDATES Myth vs Fact on bailout compromise If John McCain had not used his presidential campaign to shine a media spotlight on the process, the Dodd version would probably have been passed over the...
When I set the poll last night, I said I'd hold off on my comments until later. Here they are. I can see why some people are saying Obama won. He sounded good. He seemed to make sense on...
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