thestatedtruth.com | November 9, 2010
FOR IMMEDIATE RELEASEÂ November 9, 2010 The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today approved a final rule to implement section 343 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Section 343 provides temporary unlimited coverage for noninterest-bearing transaction accounts. This separate coverage will become effective on […]
Category: Commentary, Economy, Finance, Interest Rates, Bonds, National News, Wall Street |
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Tags: FDIC, TUDI Temorary Unlimited Deposit Insurance
thestatedtruth.com | November 8, 2010
Germany:  U.S. debt and interest policy generally “doesn’t add up” and the U.S. model is in “deep crisisâ€. . Hmm, so what happens if this U.S. policy fails…….inquiring minds want to know?    German Finance Minister, Wolfgang Schuble, offered some withering criticism of the Fed’s move and U.S. economics. Here’s a bit from the […]
Category: Commentary, Economy, Finance, National News, Wall Street, World News |
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Tags: Germany voices opinion, U.S. economic policy
thestatedtruth.com | November 4, 2010
That flushing sound you hear is just more money down the toilet! Two weeks ago, the FHFA, using Moody’s assumptions and modelling, said that a worst case scenario for Fannie and Freddie could result in total costs to taxpayers of $363 billion, an incremental $220 billion to the $148 billion already spent to keep the […]
Category: Commentary, Economy, Finance, National News, Real Estate, Wall Street |
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Tags: fannie mae, FHFA Moody's assumptions, freddie mac
thestatedtruth.com | November 3, 2010
Given the high market expectations, the US Federal Reserve had no choice but to announce a second tranche of quantitative easing, nicknamed QE2. But the measure is an inevitably blunt instrument for the difficult task of restoring growth and generating jobs. The benefits accruing to America come with burdens for other countries, and both could […]
Category: Commentary, Economy, Finance, Interest Rates, Bonds, National News, Personal Net Worth, Real Estate, Wall Street, World News |
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Tags: El-Erian, PIMCO
thestatedtruth.com | October 28, 2010
So….The real question is how did personal liability mortgages ever become so common in Europe? Why would anyone ever buy a house under such strenuous terms? Inquiring minds want to know! By SUZANNE DALEY Published: October 27, 2010 MADRID — Manolo Marbán, 59, is still living in his house in Toledo and going to work in […]
Category: Commentary, Economy, Finance, National News, Real Estate, World News |
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Tags: real estate in spain
thestatedtruth.com | October 27, 2010
The BBC reports:Â Â “the minority government of Portugal has failed to gain opposition support for its proposed austerity budget. A failure to pass the budget could plunge the country back into the debt crisis it had seemingly escaped since the summer.” And this: “Prime Minister Jose Socrates threatened to quit if the budget fails, while the […]
Category: Commentary, Economy, Finance, National News, Wall Street, World News |
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Tags: portugal
thestatedtruth.com | October 26, 2010
By Jody Shenn Oct. 26 (Bloomberg) — Home lending in the U.S. will fall below $1 trillion next year to the lowest level since 1996, according to the Mortgage Bankers Association. Originations will decline to $996 billion in 2011, from a projected total of $1.4 trillion this year, the trade group said today in a […]
Category: Commentary, Economy, Finance, National News, Real Estate |
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Tags: mortgage volume
thestatedtruth.com | October 25, 2010
This from The Wall Street Journal….Are they kidding?…….Nope…….You want civil unrest and riots, like they have in France,  just try to take away or cut the mortgage interest tax deduction……..and watch housing fall further at the same time. Any Senator or Congressman can be voted out of office if this happens, but not until next election unfortunately. Hot Hot Potatoes. Sacrosanct […]
Category: Commentary, Economy, Finance, National News, Personal Net Worth, Real Estate |
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Tags: cutting deductions, mortgage deduction, raising taxes
thestatedtruth.com | October 21, 2010
The regulator for Fannie is set to get litigious ….. OCTOBER 21, 2010 By NICK TIMIRAOS The federal regulator overseeing Fannie Mae and Freddie Mac hired a law firm specializing in litigation as the agency considers how to move forward with efforts to recoup billions of dollars on soured mortgage-backed securities purchased from banks and […]
Category: Commentary, Economy, Finance, National News, Real Estate, Wall Street |
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Tags: fannie mae, freddie mac, litigation
thestatedtruth.com | October 21, 2010
The number of U.S. homes seized by banks topped 100,000 in September for the first time ever, according to RealtyTrac, a real-estate data company. The average loan in foreclosure is 484 days delinquent, according to LPS Applied Analytics. Some 23 states require foreclosures to go through the courts. Even if the outcome of most cases […]
Category: Commentary, Economy, Finance, National News, Real Estate, Wall Street |
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Tags: foreclosures
thestatedtruth.com | October 18, 2010
It’s likely that most informed people will agree with the 3 points made below. Our Guess is that more class actions are coming, it’s just a matter of time! Class action lawsuit against the MERS system for mortgage holdings  A class action lawsuit by citizens vs MERS and numerous banks depicting fraud and unfair practices has […]
Category: Commentary, Economy, Finance, National News, Real Estate, Wall Street |
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Tags: class action, class action lawsuit, MERS
thestatedtruth.com | October 15, 2010
The banks are (bigger) petrified dinosaur brains then even we gave them credit for! Morons to the tenth power!   This covers some new stuff, so its worth the read. Key Points: when a homebuyer signs a mortgage, the key document is the note. As said before, it’s the actual IOU. In order for the mortgage note to […]
Category: Commentary, Economy, Finance, National News, Real Estate, Wall Street |
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Tags: bank troubles, foreclosures, real estate foreclosures
thestatedtruth.com | October 14, 2010
U.S. mortgage rates fell for a third straight week. They now sit at the lowest level on record as housing demand slumps. Rates for 30-year fixed loans declined to 4.19 percent in the week ended today from 4.27 percent, Freddie Mac said in a statement. It is the lowest rate since the McLean, Virginia- based company […]
Category: Commentary, Economy, Finance, National News, Real Estate, Wall Street, World News |
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Tags: mortgage rates
thestatedtruth.com | October 14, 2010
Confidence among chief executive officers in the U.S. fell in October to the lowest level since May 2009 according to a survey from the Business Council. The Washington-based group’s sentiment gauge dropped to 51.2 this month from a two-year high of 66.6 in May, a report showed today. As calculated by the Conference Board, readings greater […]
Category: Commentary, Economy, Finance, National News, Wall Street |
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Tags: onfidence sinks, survey
thestatedtruth.com | October 14, 2010
Let’s review this again……..the banks are run by people with prehistoric dinosaur brains* (but then again so are the homeowners)! Lets see, these homeowners bought the house for $500,000 in 2001 and then borrowed everything out of it with an $880,000 no interest loan, so who made the loan, right if you said the banks, the stupid […]
Category: Commentary, Economy, Finance, National News, Real Estate, Wall Street, World News |
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Tags: bank owned, fraud, squatters
thestatedtruth.com | October 14, 2010
By Bill Dunkelberg October 14, 2011 Dr. William Dunkelberg is the Chief Economist of the National Federation of Independent Business. The Treasury Department has just announced a new program to encourage lending to small businesses, the State Small Business Credit Initiative. Selected states can access the $1.5 billion fund if they can demonstrate that each […]
Category: Commentary, Economy, Finance, Interest Rates, Bonds, National News, Wall Street |
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Tags: small businss
thestatedtruth.com | October 13, 2010
 ICI has just reported the 23rd sequential outflow from domestic equity mutual funds, this time redeeming $5.6 billion, the highest since the beginning of September, bringing the total YTD mutual fund redemptions to $80 billion. Weekly Outflows: Cumulative Outflows: www.zerohedge.com
Category: Charts and Graphs, Commentary, Economy, Finance, National News, Wall Street |
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Tags: mutual fund outflows, redemptions
thestatedtruth.com | October 13, 2010
It would appear that the bankers do their thinking with prehistoric dinosaur brains.  In depositions released Tuesday, many of the workers testified that they barely knew what a mortgage was. Some couldn’t define the word “affidavit.” Others didn’t know what a complaint was, or even what was meant by personal property. In an effort to […]
Category: Commentary, Economy, Finance, National News, Real Estate |
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Tags: real estate fraud;real estate foreclosures
thestatedtruth.com | October 12, 2010
3 Billion Individuals or more than two thirds of the global adult population have wealth below USD $10,000. Figures for mid-2010 indicate that 24.2 million adults are above the threshold for dollar millionaires. While they make up less than 1% of the global adult population, they own more than a third of global household wealth. […]
Category: Commentary, Economy, Finance, National News, Personal Net Worth, Wall Street, World News |
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Tags: global net worth, net worth, net worth pyramid
thestatedtruth.com | October 12, 2010
Words of a wise man, pay attention everyone!  By Bloomberg News October 12, 2010 Advanced economies risk a lost decade unless policy makers recognize the severity of the wounds left by the financial crisis, said Mohamed El-Erian, chief executive officer of Pacific Investment Management Co. El-Erian, who popularized the phrase new normal to describe how […]
Category: Commentary, Economy, Finance, Interest Rates, Bonds, National News, Pensions and Retirement, Wall Street, World News |
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Tags: pimco's El -Erian, Pimco;Economic risks, privatization
thestatedtruth.com | October 11, 2010
MINIMUM Average Gross Income REQUIRED TO BE IN TOP 1% of TAXPAYERS 1980 — $ 80,580 1985 — $108,134 1990 — $167,421 1995 — $209,406 2000 — $313,469 2005 — $364,657 2007 — $410,096 2008 — $380,354 Figures from www.wsj.com
Category: Commentary, Economy, Finance, National News, Personal Net Worth |
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Tags: top 1% earners, top earners
thestatedtruth.com | October 8, 2010
Recently J.P. Morgan Chase, Bank of America and Ally Financial have temporarily halted foreclosures in 23 states due to flawed affidavits used in legal proceedings. Now Bank of America has expanded this halt to all 50 states, while PNC Financial Services said it was stopping foreclosures in 23 states for a month. Banks insist the problems are administrative and […]
Category: Commentary, Economy, Finance, National News, Real Estate, Wall Street |
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Tags: bank owned homes, forclosures, Real Estate
thestatedtruth.com | October 8, 2010
Billionaire investor George Soros said he shared concerns about a “currency war†and China must do more to accept its responsibilities in the global monetary system. “I share the growing concern about the misalignment of currencies,†Soros wrote in an article for the Financial Times. “Brazil’s finance minister speaks of a latent currency war, and […]
Category: Commentary, Economy, Finance, Gold and Silver, National News, Wall Street, World News |
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Tags: currency, world economies
thestatedtruth.com | October 7, 2010
Former Federal Reserve Chairman Alan Greenspan said the fiscal deficit in the U.S. is “scary†and the government needs to reduce entitlement programs. “We’re involved in a dangerous game,†Greenspan said today at a foreign-exchange conference in New York sponsored by Bloomberg LP, the parent of Bloomberg News. “We’re increasing the debt held by the […]
Category: Commentary, Economy, Finance, Interest Rates, Bonds, National News, Wall Street |
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Tags: national debt
thestatedtruth.com | October 7, 2010
President Barack Obama won’t sign legislation that critics said would have eased the way for banks to process home foreclosures, his spokesman said. The bill would have required courts to recognize notarizations across state lines, including electronic signatures. White House press secretary Robert Gibbs said the administration was concerned about the potential impact on home […]
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Tags: notary bill, Real Estate
thestatedtruth.com | October 7, 2010
No surprise here, it’s called the prudent man’s rule! The only problem is the government isn’t leading by example. Consumer borrowing declined in August as Americans trimmed credit-card balances and remained reluctant to take on more debt as job losses climbed. Credit declined by $3.34 billion after falling a revised $4.09 billion in July. This was more […]
Category: Commentary, Economy, Finance, National News, Personal Net Worth, Wall Street |
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Tags: personal debt
thestatedtruth.com | October 7, 2010
By Scott Stewart In this week’s Geopolitical Weekly, George Friedman wrote that recent warnings by the U.S. government of possible terrorist attacks in Europe illustrate the fact that jihadist terrorism is a threat the world will have to live with for the foreseeable future. Certainly, every effort should be made to disrupt terrorist groups and […]
Category: Commentary, Economy, Finance, National News, National Security |
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Tags: stratfor, terrorism, warnings
thestatedtruth.com | October 6, 2010
Former Federal Reserve Chairman Paul Volcker an adviser to President Barack Obama said he doesn’t expect consumer spending to spur growth, and the U.S. and other developed nations face the prospect of protracted joblessness. “This has not been an ordinary recession,†Volcker, 83, said today in a speech in Toronto. It’s “very difficult to find […]
Category: Commentary, Economy, Finance, National News, Wall Street |
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Tags: consumer spending, volcker says prolonged unemployment
thestatedtruth.com | October 6, 2010
Today’s POMO is over: at $2.069 billion, the operation was right in line with expectations, coming in at a lofty 12.16 submitted to accepted ratio, as investors apparently are not too crazy about the yield perspective of the 4 2013 CUSIPs that were repruchased. However, what is far more important is that with holdings of […]
Category: Commodities, Economy, Finance, National News, Wall Street |
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Tags: central bank holdings, national debt
thestatedtruth.com | October 6, 2010
 Chris Whalen (one of the top banking analysts): “Rising operating costs in banks will be more significant than in past recessions and could force the U.S. government to restructure some large lenders as expenses overwhelm revenue.â€Â “We are less than one-quarter of the way through the foreclosure process,†said Whalen, in remarks prepared for an […]
Category: Commentary, Economy, Finance, National News, Real Estate, Wall Street |
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Tags: bad mortgages, bank risk, foreclosures
thestatedtruth.com | October 5, 2010
October 5, 2010  The game of musical chairs is played with more than one entrant. The players have to focus on the whole group. Contestants gauge their positions as they go around and around. Only when the music stops is the outcome known.  In the US, many investors tend to focus on our […]
Category: Commentary, Economy, Finance, National News, News Letters, Wall Street, World News |
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Tags: musical chairs
thestatedtruth.com | October 4, 2010
The Mortgage Mess as it affectionately is called seems to be getting new names with each passing day – the latest one is, quite appropriately RoboSigning Scandal During today’s CNBC Kudlow segment Diana Ollick confirms various so far unfounded rumors that the government is planning to institute a 90 day foreclosure moratorium as it deals with the […]
Category: Commentary, Economy, Finance, Interest Rates, Bonds, National News, Real Estate |
48 Comments »
Tags: foreclosures, real estate title insurance
thestatedtruth.com | October 4, 2010
 Recovery, what recovery! U.S. consumer bankruptcy filings rose 11% in the first nine months of this year, versus the same period in 2009, the American Bankruptcy Institute said Monday, according to data from the National Bankruptcy Research Center. Filings totaled 1,165,172 nationwide during the first nine months of 2010, compared to 1,046,449 total consumer filings a year […]
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Tags: bankruptcy, consumer bankruptcies
thestatedtruth.com | October 1, 2010
Data from the new Census report created the following income distribution chart: So…..35% of U.S. households live on $35,000 or less.   Those making more than $100,000 fall under the top 20 percent category. But the real income disparity shows up clearly once you go over the $200,000 range. The top 20 percent of Americans made […]
Category: Commentary, Economy, Finance, National News, Personal Net Worth |
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Tags: household income, income distribution
thestatedtruth.com | September 29, 2010
People with a credit score below 620 who want a loan were unlikely to receive even one quote, according to real-estate web site Zillow.com, even if they offered a down payment of 15%-25% for a home. Zillow notes that 29% of Americans have a credit score this low, according to data provided by myFICO.com. “Today’s […]
Category: Commentary, Economy, Finance, Interest Rates, Bonds, National News, Wall Street |
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Tags: credit scores, FICA score
thestatedtruth.com | September 28, 2010
The Conference Board’s sentiment index declined to 48.5 this month, lower than the median forecast of economists surveyed by Bloomberg News and the weakest level since February, according to figures from the New York-based private research group today. In another report home prices cooled, hurt by a slump in sales following the end of a […]
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Tags: sentiment index survey
thestatedtruth.com | September 27, 2010
Heightened Terror Threats In Europe WASHINGTON….. In an effort to preempt a suspected terrorist plot(s) against European targets, the Central Intelligence Agency has targeted missile strikes against militants in Pakistan’s tribal regions, according to current and former officials. The strikes, launched from unmanned drone aircraft, represent a rare use of the CIA drones to preempt a possible […]
Category: Commentary, Commodities, Economy, Finance, Gold and Silver, National News, National Security, Oil and Nat Gas, Wall Street, World News |
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Tags: cia drones, national security, terror threat, unmanned drone aircraft
thestatedtruth.com | September 27, 2010
It looks like we could have saved the U.S. tax payers a few trillion dollars if the government would have realized the basics of the problems a year and a half ago! New World Thinking: The government can save everything. Reality: The government can’t save anything but will try, in the process it will usually make things worse!  Paul Krugman […]
Category: Commentary, Economy, Finance, Interest Rates, Bonds, National News, Outliers, Pensions and Retirement, Real Estate, Wall Street, World News |
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Tags: defaults, op-ed, Paul Krugman
