For years, President Obama has been clear about his preferred tax policy: Tax the rich more and protect households that make less than $250,000 from higher taxes.
It’s not clear what he’ll say about taxes on Wednesday when he lays out his ideas for how to tackle the country’s long-term debt. If history holds, he’ll stick [...]
Posts Tagged ‘president’
TAX THE RICH! OK, BUT THEN WHAT?
April 12th, 2011 by Financial Writer
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more...Kotlikoff: How to Fix the Mortgage Mess
January 17th, 2011 by Financial Writer
Fannie Mae and Freddie Mac. What cute-sounding names. They suggest adorable siblings, not twin financial disasters that may cost $1 trillion when we get the final bill.
According to Edward Pinto, Fannie Mae’s former chief credit officer, in 2008 the two government-supported mortgage finance companies, along with the Federal Housing Administration [...]
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Toyota chalks a win against ‘whistleblower’
January 6th, 2011 by Financial Writer
Toyota Motor Sales Inc. has been awarded $2.6 million in an arbitration case against a former attorney for the automaker. The attorney, Dimitrios Biller, had accused Toyota in court cases and in the media, of covering up safety defects in its vehicles.
In making his accusations, Biller had relied on internal Toyota documents. Biller discussed confidential [...]
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Mortgage delinquencies decline
December 18th, 2010 by Financial Writer
Fewer people were late on their mortgage payments during the third quarter of this year, according to the Mortgage Bankers Association. At the same time, there was an increase in the number of loans entering foreclosure.
The decrease in mortgage delinquencies is a sign of an improving economy, says Michael Fratantoni, the association’s vice president of [...]
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Caliber Mortgage Finance – The Future Of The Residential Loans Or A Wolf In Sheep's Clothing
December 14th, 2010 by Financial Writer
We’ve all been affected in one way or the other of the whole mortgage mess (or for many of us, we hit many, many possibilities). For the most part, I think it’s fair to say that most of the average person was affected by the collapse of mortgages in recent years has been nothing [...]
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Mortgage-Bond Slump ‘Won’t Be Fun’ for Housing: Credit Markets
December 13th, 2010 by Financial Writer
A slump in government-backed mortgage securities that’s sent yields to the highest level since May is threatening a recovery in the U.S. housing market, which had been bolstered by record-low borrowing costs.
Yields on Fannie Mae-guaranteed securities that most affect loan rates jumped as high as 4.21 percent today, an increase [...]
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The overblown menace of robosigners
December 9th, 2010 by Financial Writer
A lot of homeowners face foreclosure. The overwhelming majority of them haven’t been making their house payments.
This simple truth has been obscured by the foreclosure paperwork scandal.
In 23 states, foreclosures must be accomplished through the court system. (In the other states, lenders handle foreclosures administratively, although homeowners can choose to defend themselves in court.)
Lenders are [...]
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Home loan conference recap
December 7th, 2010 by Financial Writer
Mortgage maven Christopher Cruise summarizes yesterday’s housing conference in D.C.:
My overall impression of the conference is that there will be changes and that maybe, maybe sometime in the next decade or so, Fannie and Freddie will cease to exist, or their functions will be split and half-retained in government and the other half fully privatized. [...]
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Government plans three new measures to bolster economy
December 6th, 2010 by Financial Writer
Canada’s Conservative government will introduce three new measures in coming weeks to bolster the country’s economy”>
Christopher Furlong/Getty Images
Canada’s Conservative government will introduce three new measures in coming weeks to bolster the country’s economy
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Paul Vieira, Financial Post · Thursday, Sept. 16, 2010
The federal Conservative government plans to introduce three new measures in the coming weeks aimed [...]
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Consumer spending lifts U.S. growth
November 17th, 2010 by Financial Writer
U.S. economic growth edged up as expected in the third quarter, but not enough to chip away at high unemployment or change perceptions of more monetary easing from the Federal Reserve next week.
Gross domestic product expanded at a 2.0% annual rate as consumer spending rose at its quickest pace since 2006 and businesses continued to [...]
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