Couldn’t believe me eyes when I woke up to see this headline at the New York Post: LOST SOVEREIGNTY: Oil-Rich Fund Eyeing Foreclosed U.S. Homes. American mortgage brokers have been shopping– shopping for foreclosed American homes– on behalf of “sovereign funds” like Abu Dhabi, Norway, Singapore, and Kuwait. Unbelievable. There’s a new land grab starting [...]
Continue reading...Wednesday, August 6, 2008
Interesting news from Bloomberg this morning: the second-largest U.S. securities firm is tightening the home-equity belt. Morgan Stanley, the second-biggest U.S. securities firm, told thousands of clients this week that they won’t be allowed to withdraw money on their home-equity credit lines, said a person familiar with the situation. Most of the clients had properties [...]
Continue reading...Monday, July 28, 2008
I have always been very vehemently against bank mergers and federal takeovers of banks. You’ve heard the saying “Follow the money”? We the people have less and less control over our own economy and financial market as the government and the bankers continue to scarf up the banks and make laws favoring their banker pals. [...]
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Sunday, August 10, 2008
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