Archive for the 'Subprime' Category

My Thoughts On Paulson’s $700 Billion Bailout

By Justin Gardner | Related entries in 2008 Election, Barack, Economy, McCain, Subprime, Taxes

First things first…an explanation of what’s going on.
Basically, nobody is willing to buy these packages of mortgages. This is why banks are having cash flow problems and not lending money…because they can’t sell these packages and they’re worried they won’t have enough liquid assets.
But let’s be clear…a good 80% of these mortgages are perfectly [...]

September 24th, 2008 | Permalink| 8 Comments »

Home Ownership In Steep Decline

By Justin Gardner | Related entries in Economy, Money, Subprime

From 69.1% in 2005 to 67.8% this year, which is the biggest decline in two decades.
NY Times explains the human costs:
For many minority and lower-income families who viewed homeownership as a stepping stone to building wealth and passing it on to their children, the transition from owning to renting has been the unraveling of a [...]

June 22nd, 2008 | Permalink| 4 Comments »

Buy And Bail On The Rise

By Justin Gardner | Related entries in Economy, Money, Subprime

The WSJ reports that some savvy homeowners are buying new homes in the same neighborhood that are far cheaper, and then walking away from their old homes and letting them fall into foreclosure.
The practice is called buy and bail, and while some call it fraud, I call it just desserts for the mortgage companies.
As one [...]

June 11th, 2008 | Permalink| 17 Comments »

The Subprime Mortgage Mess, In A Nutshell

By Justin Gardner | Related entries in Comedy, Economy, History, Money, Subprime, WTF?, Wall Street

Big thanks to Jimmy for this.

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The text may be hard to read, so I’d suggest just going full screen with it. It’s very easy to read at that size.

March 26th, 2008 | Permalink| 1 Comment »