The media coverage of the AIG crisis is completely off the mark. The Fed DID NOT bail out AIG. It did something better and worse. The fed had two choices, 1) bail out AIG or 2) let it go bankrupt. The Fed made both choices. It bailed them out per se with an $85 billion [...]
Browsing Posts in Business
Being foreclosed on? No worries if you follow the example of Jerome Daly, a lawyer and political activist of sorts, who successfully had his mortgage declared null and void.
In order for a mortgage agreement to be legal, the bank must put up legal ‘consideration’. That’s a fancy lawyer word for ‘money’ or some such other [...]
http://video.google.ca/videoplay?docid=-515319560256183936&q=the+money+masters&total=630&start=0&num=10&so=0&type=search&plindex=0
Normally any discussion of the economy or finance causes my eyes to glaze over. However, I chanced upon this documentary and started to watch it. Shortly thereafter, I was glued to it. I finally understand questions I’ve had for a long time.
1) How do they know how much money to print?
2) What [...]
In 1979 Jimmy Carter delivered a televised speech bemoaning the increasing US dependence on foreign oil. In it he outlines his Energy Policy for the coming decades.
“[Foreign Oil is] a cause of the increased inflation and unemployment that we now face. This intolerable dependence on foreign oil threatens our economic independence and the very security of [...]
Dumb:
Project Lifeline is a Bush administration initiative to give distressed mortgagees an additional month before their homes are foreclosed upon. This reprieve goes not only to subprime borrowers but to all distressed borrowers. The subtext to this move is that not only are subprime borrowers in distress. One month’s grace is dumb [...]
