Nine biggest banks really didn’t need our bailout – Drew Voros, The Oakland Tribune
Well it worked. Ole Hank was right. We saved those banks, and today, less than a year from that big scare, everything is all better …. for the banks, certainly not the economy.
Fannie Freddie May Need Another $400 Billion Taxpayer Assistance – Mish
Remember the ridiculous claim that taxpayers would not lose a dime on Fannie Mae or Freddie Mac when they were seized 16 months ago?
…
It is quite clear the Treasury does not care how much pain it inflicts on taxpayers, which is exactly what happens when housing is used a public policy tool.
Confessions of an Underwater Homeowner – The Wall Street Journal
My family’s modest, suburban New Jersey house is now worth about $30,000 less than our current balance. We never dreamed of walking away, but the idea of “strategically defaulting,” is something we had to at least consider.
Crouching Lieberman, Smoking Gun – Angry Bear (what a great headline!)
Lagging no more? – BBC News
A slight fall in the claimant count in November, the first since February 2008; the smallest quarterly rise in the broader measure of unemployment since spring 2008; a 53,000 rise in the number of people in work.
These are not figures you expect to see, in an economy still not formally out of recession.
Clusterf#@k to the Poor House – Flight Delay – The Daily Show – Great video as always…
The Daily Show With Jon Stewart Mon – Thurs 11p / 10c Clusterf#@k to the Poor House – Flight Delay
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Real Estate Bubble Explained in 30 Seconds – Minyanville, Kevin Depew
A wife’s furrowed brow later, the husband concedes defeat. The two embrace.
“This is awesome,” the wife says. “You see the size of that garage?” the husband replies, warming to his quick defeat.
Suzanne breathes a huge sigh of relief (commission, you know) and promises to “get to work.”
And just like that, an entire banking industry
was brought to its knees (not shown in the commercial).
