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Monday, July 27, 2009

Wall Street and Ben Bernake

When Wall Street is the Problem, Is Bernanke the Answer?Mon, 27 Jul 2009 18:38:26 GMTThe Fed had stood by and none nothing to stop the subprime/subcrime wave, and nothing to stop the millions of foreclosures for years. Now, the Fed is proposing to step in, arguing that the new agency is not needed. "I'll handle it," says big Ben. ... Click here to read more

Man Without a PlanMon, 27 Jul 2009 17:45:15 GMT``Last year, when the credit market became dysfunctional and normal channels for borrowing broke down, the Fed misread the situation. It persisted in believing that the market needed more liquidity, even though this was not a solution to the market disturbances. The real problem was that because of the mysterious new instruments that investors had acquired, no one knew which firms were solvent or what assets were worth.'' ... Click here to read more

Forget Aloof, Bernanke Goes BarnstormingMon, 27 Jul 2009 05:31:41 GMTYou know the federal reserve feels that it's in trouble when it goes on a publicity campaign. Ron Paul has them are running scared. ... Click here to read more

Loan Modification VS Foreclosure FightTue, 28 Jul 2009 01:54:49 GMT``... it now becomes evident what the TARP funds issued to the banks by the US Government is for. It allows the banks, actually the Master Servicers to have the funds to keep operating. As more foreclosures occur, the TARP funds keep the bank leveraged so that the doors remain open.'' ... Click here to read more

Longtime critic joins governmentMon, 27 Jul 2009 17:19:27 GMT" The plight of America's struggling middle class has long been Warren's great passion. Since the 1980s, the Harvard law professor has studied how medical debts, credit-card traps, and crises such as job loss and divorce have pushed millions of families toward a financial cliff, and often into bankruptcy." ... Click here to read more

Lenders failed to heed red flagsMon, 27 Jul 2009 05:07:58 GMT"A yearlong Herald-Tribune investigation into thousands of suspicious Florida flip deals found that lenders of all kinds approved risky deals and ignored obvious red flags for mortgage fraud." ... Click here to read more

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