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Words My Mom Taught Me To Fear: "We're From the Government and We're Here To Help," says Andrew Busch.
When President Obama’s Auto Team meets for the first time Friday morning, it will be off camera, behind closed doors, away from reporters. Maybe that's good. After all, fixing this industry could be messy, very messy.
European banks are notably weak, and several large U.S. banks like Citi and Bank of America are down 10 percent pre-open. Gold stocks are again trading up 2 to 5 percent.
President Obama’s massive mortgage-bailout plan is nothing more than a thinly disguised entitlement program that redistributes income from the responsible 92 percent of home-owning mortgage holders who pay their bills on time to the irresponsible defaulters who bought more than they could ever afford. This is Obama’s spread-the-wealth program in action.
Fairness will be the death of us. In all the discussions of Obama's new housing plan, the notion of fairness, or rather, the plan's fundamental unfairness, comes up again and again.
Global stocks ended the week in the red, near 6-year lows, as pessimism over the economy and banking sector set in, scaring investors away from stocks and back into bonds and gold.
Banks are again weak on concerns about the government's "stress test." The first worry is we don't know what this "stress test" consists of. Some are estimating that it may require 6 percent Tier One capital, and 3 percent tangible capital. Many banks may not pass that test.
President Obama's much-anticipated plan to deal with the U.S. housing crisis aims to help as many as 9 million families avoid foreclosure on their homes.
Wall Street and the private sector already have begun dealing with this morass on their own, if only the President and Treasury Secretary Timothy Geithner would take heed.
I’d like to know when exactly, on what day in particular as the housing market crashed down around us, that everyone decided the real estate investor was the villain?
left/CNBC/Sections/News_And_Analysis/_Blogs/Guest_Blog/__COVER/fratto_t_100_2.jpg1100100010lefttruehttp://msnbcmedia.msn.comfalse1Pfalsefalse The "cure" for the housing virus is so far outside the bounds of our political and economic sensibilities that we can take it off the table. A real cure would require spending nearly an order of magnitude more than what was announced yesterday, and it would involve bailing out the very worst actors in this drama.
As the economy continues to struggle, the public is growing increasingly concerned about losing jobs, not having enough money to pay the bills and seeing their retirement accounts shrink, according to an Associated Press-GfK poll.
Wall Street talking heads got you baffled? Cramer debunks 10 myths to help you separate fact from fiction.
On Wednesday the White House unveiled its new plan to help homeowners on the brink. We’ve got the details – now will it work?
Stocks limped to the finish line Wednesday as broad strokes on the bank plan from Bernanke failed to comfort the market.
The Obama administration's housing plans help struggling homeowners and provide incentives to loan servicers to rewrite mortgages, JP Morgan Chase CEO Jamie Dimon said.
The Obama housing plan is aimed at “rescuing families who played by the rules and acted responsibly…it will not rescue the unscrupulous or irresponsible by throwing good taxpayer money after bad loans.” Well here’s the problem: the rules have changed.
President Barack Obama on Wednesday pledged up to $275 billion to help stem a wave of home foreclosures that sparked the U.S. financial meltdown...
As the situation has become more dire, and as bank stocks again swoon as regulators are descending upon the banks to begin collecting data for Treasury's "stress test," the word "nationalization" is being heard on the Street as a legitimate alternative to the plans that have been floated. It’s a sign of how worried—desperate—the Street has become.
The new Obama housing plan is going to give a break to those who least deserve it: people who bought more house than they can afford. It will reward those who made all the wrong decisions.