Filed under: Rants and raves , Scandals , Citigroup Inc. (C) , Countrywide Financial (CFC) , Politics , Housing
George W. Bush today announced his plan to “bail out” homeowners in danger of losing their homes when their low teaser rates increase, as some 2 million are set to do in 2008.
The plan will have the government in cahoots with non-profit groups, but also various lenders and big banks, including Citigroup (NYSE: C ) and Countrywide Financial (NYSE: CFC ), both of which are in dire straits due to the subprime debacle. The idea is to “freeze” low-interest rates for certain homeowners to prevent them from going into foreclosure.
I thought the Republican party was about small government and fiscal conservatism. My bad.
Never mind the bureaucratic nightmare of administering this “plan.” My question is this: Why bail out people who got mortgages they knew they wouldn’t be able to aff...
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Filed under: Newcastle Investment (NCT) , Raytheon Company (RTN)
The holiday season is upon us and that translates to shopping season. Generally speaking, I hate shopping and refrain from getting anywhere near a shopping mall or mingling with all the shop-o-holics. However, shopping for stocks is different and it is always the season for that.
Finding the best stock values for next year would be a great gift for everyone that is paying attention to my ramblings, that is, ... more
Filed under: Motorola (MOT)
Even though his efforts to get on Motorola, Inc. (NYSE: MOT ) board of directors came up short, Carl Icahn has been vindicated, in a way. The stock has continued to lag but today, Ed Zander, the target of much of Icahn’s vitriol has stepped down as CEO of the company.
Never one to miss an opportunity to dance on an enemy of shareholder value’s grave, Icahn put out a press release applauding the move:
“I believe that th... more
Filed under: After the bell , Good news , Middle East , Citigroup Inc. (C) , Wachovia Corp (WB) , Technical Analysis , Economic data , Wells Fargo (WFC) , Commodities , Oil , DJIA , Housing , Federal Reserve
True, no one on the trading floor of the New York Stock Exchange Friday yelled, “It’s a return to the ‘Roaring 90s,’ “ but given the way the U.S. economy and the stock market have gone in 2007, it’s a start.
Th... more
Filed under: Television , Scandals
Game of Shadows, the controversial bestseller that brought to light detailed allegations of home run king Barry Bonds’ involvement with illegal performance-enhancing drugs, is being made into a movie by HBO.
Just when Barry Bonds, who recently indicted by a grand jury, thought the negative publicity couldn’t get any worse: a made-for-TV movie.
According to the New York Times “Much of the book was based on secret grand jury testimo... more
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