Posts Tagged ‘mortgage’
There is no doubt that the Spin Doctors have been successful. They spun the economy into a frenzy that could not be sustained. Others put the spin on the stock market, while speculators put a spin on everyone with high gas and oil prices. Fair and balanced news is so far from the truth it not even funny.
Restoring trust and confidence in any system is a slow methodical process. Restoring confidence in the United States financial system is even more difficult, but not impossible.
As mortgage blues continue, one more lender is gone from the American landscape. That lender is HSBC Finance, formerly known as predatory lender Household International.
When we first started writing Mortgage Blues we knew there would be an economic fallout. We did not know what the world’s biggest quarterly loss would look like. How does one imagine the biggest quarterly loss of any American company ever seen?