11 Feb
Posted by Julia Redstone as Foreclosure Crisis
There are weak signs that the foreclosure crisis is retreating. The number has fallen again last November marking a trend that has been continuing for the last four months. The banks are appearing to be more amenable by putting in more effort to modify mortgages.
But tucked away in some corners bombs are ticking threatening to [...]
10 Feb
Posted by Julia Redstone as Foreclosures
In the recent recession America has seen 8.4 million jobs vanish – most of them having gone permanently. The politicians are taking advantage of this to make loud noises without anyone disclosing the truth.
It is useless to talk about financial recovery without solving unemployment. There are structural problems connected with unemployment.
To contain the [...]
09 Feb
Posted by Julia Redstone as Finance
The Centre for American Progress is a think tank – close to the Obama government. Recently it published a spicy essay noting the differences between deficit hawks and those who are “deficit peacocks”. The latter are those who strut about pretending that the problems can be resolved with tricks like putting a short term freeze [...]
08 Feb
Posted by Julia Redstone as Real Estate foreclosure
It is an eerie situation. The past of real estate has come to haunt the present but few are aware of the ghost. There is very few data on a similar real estate crisis that took place in the 1920’s.
But hunting through the ruins of financial and real estate history Professor Goetzmann of Yale [...]
05 Feb
Posted by Julia Redstone as Foreclosure Crisis
The earning reports coming from Goldman Sachs and JPMorgan Chase show that the working people of America have not only been injured by the foreclosure crisis but they have also been insulted.
The balance sheets of these jumbo banks are in robust health, profits have spiked and the bonuses of the top brass are astronomical. [...]
04 Feb
Posted by Julia Redstone as Real Estate foreclosure
Although many are saying that the securitization of mortgages is something brand new history tells another story. What happened in the past in the 1920’s is being repeated with slight variations the present real estate scene. Residential buildings were bundled together and sold as mortgages. Commercial properties too backed by these mortgages as securities.
There [...]
03 Feb
Posted by Julia Redstone as Foreclosure
Despite differences in opinion a poll shows that the majority of Americans agree that although 2009 had been bad, it is going to better in 2010. Three fourths are sure that 2009 was a bad period for USA marked by unemployment, foreclosures and ailing economy. 42% said it was “very bad” according to recent AP-GfK [...]
The residential foreclosure rate in New Jersey increased 29 per cent in ’09 as compared to ’08. Statistics reveal that a South Jersey county has been hit the hardest. The counties that are witnessing very high number of foreclosures are Bergen, Atlantic and Sussex.
Meanwhile foreclosures of commercial properties have also been increasing. They are up [...]
01 Feb
Posted by Julia Redstone as Foreclosures
Wall Street ‘fat cats’ are prowling around cockily while the country remains caught in the net of foreclosures and unemployment. Lloyd Blankfein the king of Goldman Sachs shrugged off the crticism levelled against the financial operations saying that he was merely a banker “doing God’s work.”
Analysts are now calculating that from the profits raked [...]
Bank of America has at last repaid the $45 billion it had taken from the taxpayers. There are rumors coming from Washington about a swath of new regulations. This has prompted the bank to put in more teeth into its lobbying tactics starting from the close of 2009.
Bank of America spent in all $3.6 million [...]
