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Category Archives: Economics
L.A. Bank Death Watch: Downey, First Federal, Washington Mutual, Fremont
You’ll show up one day and there’ll be a notice that this bank has been taken over the FTIC and if you have money there, it’ll take a couple of days to get it. Or Bank of America buys them … Continue reading
Posted in Economics
Tagged amortization, bank of america, bloke, couple of days, death watch, downey, finance, ftic, graduated payment mortgage, introductory period, loan payment, loan payments, losses, money, negative amortization, quot, washington mutual, wikipedia
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Banks With All Their ‘Capital’ In Junk Loans
Downey Savings, and then not far behind them, First Federal and Washington Mutual are going to have all the "capital" in junk loans. No one should have any faith in the banking system and should move their money out of … Continue reading
Posted in Economics
Tagged asset quality, bancorp inc, bank of america, bank of america corp, capital ratio, countrywide financial, countrywide financial corp, downey financial corp, downey savings, friedman billings ramsey, homeboy, indymac bancorp, indymac bancorp inc, largest mortgage lender, paul miller, quality deterioration, rapid pace, stock bank, washington mutual, washington mutual inc
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Mortgage Crisis Means No Tighter Regulation Of “government sponsored enterprises” (GSEs)
I cover the refinance industry here. David Smith writes: Roughly ten days ago, the Administration officially flew the white flag in attempting any further regulation of the GSEs. Legislation not pending? As reported by The Wall Street Journal, with … Continue reading
Posted in Economics, Mortgages, Politics
Tagged balance sheets, david smith, equity capital, executive summary, fannie freddie, fannie mae, fannie mae and freddie mac, financial turmoil, freddie mac, government sponsored enterprises, home mortgage, mortgage investors, mortgage market, mortgage securities, paulson, regulators, surcharge, u s home, wall street journal, white flag
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Memo To Mainstream Media
If you want to constantly attack payday loans, then abandon any pretense to journalistic objectivity. The articles recently published about this matter, all of them vilifying the practice of payday lending, fail even the most basic standards of decent reporting. … Continue reading
Posted in Economics, Journalism
Tagged crazy idea, economic backgrounds, financial institutions, incomes, journalistic objectivity, mainstream media, narratives, New York Times, newspapers, payday loans, pretense, profession, short term loans, suggestion, testimonies, washington post
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Rip Van Winkle Investing
I stop by Rip Van Winkle Investing Monday morning, Feb. 25, to talk to my friend Selwyn Gerber. I wanted to figure out what to do with the spare millions I have lying around the hovel and figured Rip could … Continue reading
Posted in Economics
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Is The Mortgage Crisis Good For The Jews?
A concerned L.A. mom emails: How will the Morgage meltdowns/housing downturn affect the Jews in our community? I have seen many many Jews in my community (Fairfax-La Brea) turn to the "equity" in their homes to pay for tuition, weddings…trips … Continue reading
Posted in Economics
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Trust Can’t Be Copied
Kevin Kelly writes: When copies are super abundant, they become worthless. When copies are super abundant, stuff which can’t be copied becomes scarce and valuable. When copies are free, you need to sell things which can not be copied. Well, … Continue reading
Posted in Economics, Journalism
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The Economics Of Ecstasy
William Watson writes: If you think at all about the economics of love this Valentine’s week, you’ll probably think about the market for chocolate or roses or greeting cards — the industrial implications of romantic love and the material demands … Continue reading
Economists Dissect Repugnance
I align myself with the economists on this story from the NYT: WASHINGTON — You can kill a horse to make pet food in California, but not to feed a person. You can hoist a woman over your shoulder while … Continue reading
Lender Lobbying Blitz Abetted Mortgage Crisis
Glenn R. Simpson writes: During the housing boom, the subprime industry succeeded at more than just writing mortgages. It also shot down efforts by some states to curtail risky lending to borrowers with spotty credit. Ameriquest Mortgage Co., until recently … Continue reading
Posted in Economics, Roland Arnall, Shalhevet
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