We have many marvelous gadgets, tools and devices these days to make our lives easier and I enjoy having most of them. We have changed the way we do business in our personal lives and in industry. I suppose many of those changes are useful but I am not so sure. They in theory make [...]
Posts Tagged as ‘mortgages’
October 3, 2008
Did the Govt. Confiscate AIG?
When I first read about the takeover of AIG I was curious about the details of how that worked. I read that the Government took a 80% owenership in the AIG stock and diluted the existing shareholders. There was scarce mention of any of the details and as a lawyer I was shocked about how fast the [...]
September 30, 2008
Bailout–Solution or Problem
It rankles me that many of the elitist from Wall Street and Washington seem to think that they are much wiser and more sophisticated than all us yokels west of the Hudson and the Potomac. First the folks in Washington lay all the groundwork for this financial disaster by encourgaging and even mandating the very [...]
September 24, 2008
With or Without Parachute–continued
We left off with the building boom and the coincident lending that went with it last time in the Southwest and the sharp drop in oil prices that did affect the economic health of that region. Two banks had already collapsed. One deservedly so and another merely as a wiping boy in my opinion. That [...]
September 8, 2008
Momma “Saves” Fannie/Freddie?
As I have written before I have been concerned that Mother Government would come to the rescue of Fannie and Freddie. Well, it looks like she did this weekend. I believe that sets such a bad precedent for the future. They both were creatures of the Government from day one. Fannie goes all the way [...]
July 28, 2008
Bailouts–what’s the dog and what’s the tail?
Well, dear friend, Mother Government has come to the rescue again with the recent legislation for just about everyone to “save” the mortgage business and home ownership. At least so they assure us. No one loses we are told by the Kings of Capitol Hill. I submit to you that there are millions of losers [...]
July 18, 2008
Fannie/Fredie–All Fall Down
It looks like Congress is about to go along with the President and approve some sort of Government bailout of both Fannie and Freddie. I personally think that is a bad idea for a number of reasons. These institutions have been around for a long time and were creatures of the Government in the first [...]
