Opinion

Economy Only Good For Those At The Top

Written by Timothy Blake on August 04, 2007 under Archives, Opinion, Quotable Quotes

Sherrod Brown, a newly elected Democratic senator from Ohio who serves on the banking committee, said, “While the economy is good for people at the top, it’s not so good for a steelworker in Lorain, Ohio, or a small-business owner in Dayton”. Representative Charles Wilson, another newly elected Democrat from Ohio and a member of the financial services panel, said that “people in my district, when they pick up the paper, aren’t checking their stock holdings. They’re checking the help-wanted ads.”

Henry Paulson Assessment Off the Mark

Written by Timothy Blake on August 01, 2007 under Archives, Editorial, Opinion

U.S. Treasury Secretary Henry Paulson said on Wednesday the re-pricing of credit risk was hitting financial markets, but U.S. sub-prime mortgage fallout remained largely contained due to the strongest global economy in decades.

How long has the mortgage industry known?

Written by Timothy Blake on July 28, 2007 under Archives, Opinion

The first headlines I saw regarding sub-prime mortgage defaults were dated in February 17, 2007. The wheels began wobbling long before then. Mortgage loan criteria began to become more restrictive and loans issued in 2006 declined from 2005.

Republicans, Democrats, or Real People

Written by Timothy Blake on July 28, 2007 under Archives, Opinion

With analysts divided over whether the economy is fundamentally on the upswing or showing signs of deterioration, politicians weighed in with their views as well. After the Commerce Department released the initial report on how the nation’s gross domestic product performed during the April-to-June quarter, Republicans and Democrats quickly offered their interpretations of the numbers.

Mortgages are no threat to the economy

Written by Timothy Blake on July 28, 2007 under Government Positions, Opinion

It is late July as I prepare this article. So far 104 mortgage lenders have gone out of business, declared bankruptcy in hopes of starting over, or stopped subprime lending. Economics and the ripple effect tells us for every job lost we see an effect on four others. Communities feel the effects. I personally think what we are seeing, referred to as subprime, is actually a broader issue which touches prime mortgage lending and mainstream America. Some experts think otherwise, or at least that is what they tell the general public.

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