Archive for September, 2009

More of America sold to China as distressed assets

Written by Timothy Blake on September 29, 2009 under International, Investors

China Investment Corp, a $200 billion sovereign fund, is set to spend $2 billion buying U.S. distressed assets from property to infrastructure via three funds, including one managed by Goldman Sachs, sources briefed on the plan said on Tuesday.

Evil mortgages cause job losses, strain social security

Written by Timothy Blake on September 28, 2009 under Economic Impact

Big job losses and a spike in early retirement claims from laid-off seniors will force Social Security to pay out more in benefits than it collects in taxes the next two years, the first time that’s happened since the 1980s. It is just another case of fallout from greedy lenders and bad mortgages. This time the entire fabric of the United States is threatened.

Where was the Fed during Enron, subprime, and Madoff?

Written by Timothy Blake on September 28, 2009 under Government Positions

In an article by JON HILSENRATH that appears in the Journal, we note that World Bank President Robert Zoellick questioned the wisdom of giving the Federal Reserve more power over banks, as the Obama administration has proposed.

State AG’s watch as option ARM’s start to implode by late 2009

Written by Timothy Blake on September 20, 2009 under Root Causes

The federal government and states are girding themselves for the next foreclosure crisis in the country’s housing downturn: payment option adjustable rate mortgages that are beginning to reset.

The slowdown in commercial loans

Written by Timothy Blake on September 20, 2009 under Investors

Barclays’ estimates show that in 2009, nearly $270 billion of mortgages on apartment complexes, shopping malls, and office buildings would require refinancing. In its November 17 report, Fitch Ratings said that there is every reason for commercial loan defaults to accelerate because banks and insurance companies would try to manage their balance sheets by restricting lending, and the market for commercial mortgage-backed securities is expected to remain shut.

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