Articles

Freddie Mac may slow the purchase of mortgages from banks, reducing the amount of credit available to borrowers and driving up mortgage rates.

It is a given that we are in a serious recession. It is a given too that a number of municipalities will fail as the recession deepens and tax revenues decline. Those with capital preservation high on their list of priorities, will see the writing on the wall and reduce if not eliminate their exposure to municipal bonds before it is too late.

The iPhone is here, it is real and it is Apple's biggest revolution yet. RIMM and Nokia are understandably scared.

Citibank reported earnings today that beat pretty low expectations. The most interesting thing about the story from my perspective was that it did so by paying less for deposits.

Housing construction continues to drop as an oversupply of houses keeps the builders on the sidelines.

Five days ago I reported that Bank of America's dividend was at 11% and that the stock might present a good buy. Did I listen to my own advice? No. Today, BofA was up more than 20%.

It appears that consumers who held their money in trusts are facing some confusion at Indymac. This includes missing balances as well as non-paid interest. It serves as a reminder to make sure your trust accounts are in order and that you have the proper documentation.

If you've been renting, waiting for the housing market to collapse, the last week is good news for you. Houses are about to get a whole lot more affordable.

The fall of the dollar below $1.60 is highly disturbing, but can be tied to the BBC's airing of depositors fighting on lines outside of Indymac branches.

Fed Chief Ben Bernanke gave his semi-annual report to Congress today and it was short on good news. The headline - inflation concerns as well as economic weakness. Nothing new for people who follow this site.

I just spoke to a woman from the FDIC regarding Indymac CDs and she told me that holders have several options. They can...

If the market is open, the financials are down 10%. This will continue until we have another Bear Stearns-like failure. Bernanke has told us as much. Don't try to bottom-fish. These are failed business models.

The banking sector isn't the only industry that is getting clobbered. American car manufacturers are getting hammered because of high oil prices, a consumer shift out of SUVs, and a general sales slowdown. So what is there to do? Cut.