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Profiting from an Irvine bank failure

Profiting from an Irvine bank failure

Happy 4th to all! Now back to regularly scheduled programming… Glenn Gray discovered a way for his bank to grow amid the deepest recession in decades. The chief executive of Sunwest Bank in Tustin decided to expand his company by … Read More

ASIC releases reverse mortgage guide

ASIC releases reverse mortgage guide

Tony D’Aloisio chairman of ASIC and Paul Clitheroe chairman of the Australian Government Financial Literacy Board , last week launched Thinking of using the equity in your home? A new independent guide to reverse mortgages and other equity release products. ASIC’s … Read More

The Best Money Advice, in Ten Words or Less

The Best Money Advice, in Ten Words or Less

About a week ago, I challenged my followers on Twitter to give me their best single piece of money advice in ten words or less . I was flooded with responses. After spending quite a bit of time sifting through … Read More

States: More Little Hoovers

States: More Little Hoovers

From the WSJ: Ten States Race to Finish Budgets Ten states were scrambling Monday to pass budgets before a Tuesday deadline, with a handful — including Arizona, Indiana and Mississippi — facing the possibility of partial shutdowns if their legislatures … Read More

Auto Sales Expected to be near 10 Million SAAR in June

Auto Sales Expected to be near 10 Million SAAR in June

There will be a flood of data released over the next three days, including the June employment numbers on Thursday. Other highlights include Case-Shiller house prices tomorrow and auto sales on Wednesday. Several analysts expect an increase in auto sales … Read More

A comment on Fed Chairman Ben Bernanke

A comment on Fed Chairman Ben Bernanke

Given all the recent attacks, I’d be remiss if I didn’t write something about Bernanke, but first … I’ve been a regular critic of Ben Bernanke. I thought he missed the housing and credit bubble when he was a member … Read More

House Committee on Oversight Releases BofA Merrill Documents

House Committee on Oversight Releases BofA Merrill Documents

The Committee on Oversight and Government Reform released a couple of interesting documents this afternoon. The first document contains some Federal Reserve emails and documents. See page 2 you will find an overview of Merrill’s legacy portfolio. How about this … Read More

Bigger loan limit considered for ‘underwater’ borrowers

Bigger loan limit considered for ‘underwater’ borrowers

Remember those loans for 125% of the value of a home? That’s what comes to mind with this from National Mortgage News (hat tip to broker Lou Pacific): The 105% loan-to-value ratio limit on Fannie Mae and Freddie Mac’s program … Read More

Share loan-industry scuttlebutt

Share loan-industry scuttlebutt

John Wiley & Sons plans a paperback next year of Chain of Blame , a book I co-wrote about the credit and housing bubbles. Paul Muolo and I have a month or two to update it. If any readers of … Read More

The good and bad news in the World Bank’s China Quarterly

The good and bad news in the World Bank’s China Quarterly

The good news in the latest World Bank China Quarterly : One. China is growing, thanks to China’s government. The World Bank estimates that the government’s policy response will account for about 6 percentage points of China’s 7.2% forecast growth … Read More