How Bad Is It?
One in 7 U.S. mortgages foreclosing or delinquent
"A record one in seven U.S. mortgages were in foreclosure or at least one payment past due in the third quarter, according to fresh data signaling the recovery in the housing market will be tepid at best.
U.S. mortgage delinquency rates and the percentage of loans that entered the foreclosure process also jumped to records from July to September, the Mortgage Bankers Association said on Thursday.
Rising job losses were behind the increasingly bleak portrait of the housing market in a trend that will continue into next year, the group said in data that adds to recent evidence of a still-struggling housing market."
Bankers: we feast, you tighten your belts
European bankers demand unprecedented austerity measures
"European bankers are demanding that countries on the brink of national bankruptcy impose brutal austerity measures on their populations.
In response to the global financial meltdown of September 2008, capitalist governments around the world assumed the debts of their respective banking elites, the result of speculative risk-taking and fraud on a monumental scale.
The universal line was that the big banks were “too big to fail.” The result of this plundering of national treasuries has been a resurgence in stock market values, massive profits for major banks, and a ballooning of banker’s bonuses, on the one hand, and a ruthless assault on the jobs, wages and living standards of the working class on the other."
200 Bank Failures Expected in 2010
"Washington has so thoroughly botched its supervision of the banking industry that 200 banks are likely to fail this year — easily surpassing last year’s 140 bank failures … inevitably involving the greatest bank losses in history … and already costing the FDIC ten times more than the great S&L and banking crisis of the 1980s did."
"A record one in seven U.S. mortgages were in foreclosure or at least one payment past due in the third quarter, according to fresh data signaling the recovery in the housing market will be tepid at best.
U.S. mortgage delinquency rates and the percentage of loans that entered the foreclosure process also jumped to records from July to September, the Mortgage Bankers Association said on Thursday.
Rising job losses were behind the increasingly bleak portrait of the housing market in a trend that will continue into next year, the group said in data that adds to recent evidence of a still-struggling housing market."
Bankers: we feast, you tighten your belts
European bankers demand unprecedented austerity measures
"European bankers are demanding that countries on the brink of national bankruptcy impose brutal austerity measures on their populations.
In response to the global financial meltdown of September 2008, capitalist governments around the world assumed the debts of their respective banking elites, the result of speculative risk-taking and fraud on a monumental scale.
The universal line was that the big banks were “too big to fail.” The result of this plundering of national treasuries has been a resurgence in stock market values, massive profits for major banks, and a ballooning of banker’s bonuses, on the one hand, and a ruthless assault on the jobs, wages and living standards of the working class on the other."
200 Bank Failures Expected in 2010
"Washington has so thoroughly botched its supervision of the banking industry that 200 banks are likely to fail this year — easily surpassing last year’s 140 bank failures … inevitably involving the greatest bank losses in history … and already costing the FDIC ten times more than the great S&L and banking crisis of the 1980s did."
posted by nolocontendere at 5:36 AM
0 Comments:
Post a Comment
<< Home