Posts Tagged ‘government’

Real U.S. Unemployment Is Near 16 Percent

Written by Timothy Blake on August 07, 2007 under Archives, Editorial

Kansas City — August 7, 2007 – After analyzing six years of data and holding interviews with people hit by the I.T. (information technology) bust of 2001 one theory says U.S. unemployment might be closer to 16 percent. Current formulas don’t work. The mortgage industry got into trouble because risk analysis formulas did not work for creative mortgages. I contend that unemployment formulas don’t work either. Unemployment filings don’t tell the whole story and illegal aliens will not file for unemployment.

Jumbo Loans Defined

Written by Timothy Blake on August 06, 2007 under Archives, Definitions

Liberal underwriting was not limited to subprime loans. Alternative-A, or Alt A, mortgages are granted to borrowers with good credit scores who want more flexibility than traditional mortgages offer for the overall level of risk they pose. Prime jumbo loans are larger than government-chartered Fannie Mae or Freddie Mac can buy, or usually $417,000 for single family homes.

Germany bails out IKB, worst crisis since 1931

Written by Timothy Blake on August 01, 2007 under Archives, International

US mortgage turmoil hit investor confidence on the other side of the Atlantic on Wednesday as details emerged of a German government rescue of a domestic lender that suffered heavy losses on subprime investments. The further government intervention suggested that the problems at IKB were much worse than thought. Mr Peer Steinbrück, German finance minister, phoned several banking executives – including Josef Ackermann, chief executive of Deutsche Bank – on Sunday to bring them on board.

U.S. Mortgage Blues Reaches Australia

Written by Timothy Blake on July 31, 2007 under Archives, Outside the U.S.

Yes, this site is MortgageBlues.us, but we have a report on Australia. Our point is simple – running hog wild in the United States is hurting other countries. Look for a detailed report from one of our analysts in the near future. In that report it seems our own government knew there would be problems. Still under wraps, our report guarantees to show who was hung out to dry and who protected their own interests. Meanwhile, on to Australia.

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