As the week begins, there are a few notable notables to focus on before the market opens, including autos, AT&T’s planned acquisition of T-Mobile, and technicals. On Friday, the media sought to create a story where none existed, by creating fear that the U.S. auto economy would face shortages of new cars following certain...
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As the markets have gone up, and up, and up, there has been a contingent of people like myself wondering when the madness would end. QE2 has forced money into the equity markets, which now stands at the edge of “Mount Correction.” Those of us that sounded the alarm bells prematurely were dismissed, as...
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Attention all economists! Throw away those PhD’s! All you brokers out there, forget everything you learned. Finance professors! Stop teaching. As it turns out, the Fed has turned your years of expensive education and decades of experience into just another asset bubble that it has decided to burst. To borrow a line from “Enemy of the...
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Jonathan R. Laing reports in Barron’s that the exposure of U.S. bank,s to liability for putbacks of defective MBS (mortgage backed securities), is greater than the $52 billion reported last week from the findings of the COP (Congressional Oversight Panel). The Laing article has a total potential liability of $86 billion for U.S. banks....
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It sounds contradictory, but the headline is correct. According to Realty Trac, foreclosure actions declined 4.4% in October and are likely to fall further in the next month (or even longer). The final stage of the process, repossession, saw a decrease of 8.7% MoM. These declines have been attributed to effects of foreclosure freezes...
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A graph yesterday from the 5 Min. Forecast shows how ineffective the Federal home buyer tax credit programs were in having any lasting effect on the housing market. A down trend in pending home sales started in June of 2007 and it is still in effect. Yes, there was a bump in sales due...
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