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Greenspan's Britney Moment

Friday, 14 September 2007 01:39 Dr. Mark Lane
The Motley Fool  

Greenspan's Britney Moment

http://www.fool.com/investing/general/2007/09/14/greenspans-britney-moment.aspx

Seth Jayson
September 14, 2007

Battle of the bad
If you thought Britney's out-of-lip-sync, lumbering pantomime at the MTV Video Music Awards was bad, you ain't seen nothin' yet.

By my scorecard, the worst video-clip performance of the week goes, hands down, to ex-Federal Reserve Chief Alan Greenspan. Honestly, the only thing that could have made it worse is if Al had done it in a sequined bikini. If you're too busy to watch the ex-Chair get his excuse on (click here), I'll give you my jaded, 10-second paraphrase:

"Subprime mess? Not my fault. After all, I didn't 'really get it' until late 2005 or 2006. And there's nothing we coulda done anyway. That means the housing bubble ain't my fault, either, because, hey, who could have seen it?"

Last Updated on Monday, 17 September 2007 20:20 Read more...
 

Foreclosures zoom 93%

Tuesday, 21 August 2007 20:23 Zenwealth Admin

Foreclosures zoom 93%

Higher adjustable rates strap homeowners

NEWS WIRE SERVICES

Wednesday, August 22nd 2007, 4:00 AM

 

Foreclosure filings jumped 93% last month from July of last year and were up 9% from June.

 

It's a severe sign that homeowners are having trouble making payments and finding buyers during the housing downturn.

There were 179,599 filings reported last month, up from 92,845 a year ago, RealtyTrac said yesterday. There were 164,644 foreclosure filings reported in June.

(Note: This is more evidence that what I predicted over a year ago is coming true. --Dr. Lane)

Last Updated on Tuesday, 21 August 2007 20:24 Read more...
 

Bush outlines aid for mortgage holders

Thursday, 30 August 2007 21:45 Zenwealth Admin

By DEB RIECHMANN, Associated Press Writer 13 minutes ago

President Bush outlined ways the federal government can help troubled borrowers keep their homes Friday in an effort to address rising foreclosures fueled by the mortgage crisis.

The administration's first attempt at dealing with a wave of defaults is not aimed at bailing out lenders, however.

"It's not the government's job to bail out speculators or those who made the decision to buy a home they knew they could never afford," Bush said in the Rose Garden. "Yet there are many American homeowners who could get through this difficult time with a little flexibility from their lenders or a little help from their government."

The U.S. economy enjoyed a strong revival in the spring but since then has been threatened by the worst housing slump in 16 years and a widening credit crisis that has sent financial markets on a roller coaster ride.


Last Updated on Thursday, 30 August 2007 21:46 Read more...
 
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