The $25 billion deal between the states and major banks to provide foreclosure relief will not provide any assistance for those with federal mortgage loans, reports Bill Whitaker.
Duration : 0:2:38
Archived from the live Mises.tv broadcast, this lecture was presented by Doug French at the Mises Circle in Houston on 14 January 2012.
Duration : 0:35:24
http://www.peoplestandup.ca
by Terrence MdKenna’s voice that this is from “DocZone,” a CBC.ca
The credit crunch
The global financial crisis (GFC) or global economic crisis is commonly believed to have begun in July 2007 with the credit crunch, when a loss of confidence by US investors in the value of sub-prime mortgages caused a liquidity crisis. This, in turn, resulted in the US Federal Bank injecting a large amount of capital into financial markets. By September 2008, the crisis had worsened as stock markets around the globe crashed and became highly volatile. Consumer confidence hit rock bottom as everyone tightened their belts in fear of what could lie ahead.
The sub-prime crisis and housing bubble
The housing market in the United States suffered greatly as many home owners who had taken out sub-prime loans found they were unable to meet their mortgage repayments. As the value of homes plummeted, the borrowers found themselves with negative equity. With a large number of borrowers defaulting on loans, banks were faced with a situation where the repossessed house and land was worth less on today’s market than the bank had loaned out originally. The banks had a liquidity crisis on their hands, and giving and obtaining loans became increasingly difficult as the fallout from the sub-prime lending bubble burst. This is commonly referred to as the credit crunch.
Although the housing collapse in the United States is commonly referred to as the trigger for the global financial crisis, some experts who have examined the events over the past few years, and indeed even politicians in the United States, may believe that the financial system was needed better regulation to discourage unscrupulous lending.
The global financial crisis enters a new phase
The collapse of Lehman Brothers on September 14, 2008 marked the beginning of a new phase in the global financial crisis. Governments around the world struggled to rescue giant financial institutions as the fallout from the housing and stock market collapse worsened. Many financial institutions continued to face serious liquidity issues. The Australian government announced the first of it’s stimulus packages aimed to jump-start the slowing economy.
The U.S. government proposed a $700 billion rescue plan, which subsequently failed to pass because some members of US Congress objected to the use of such a massive amount of taxpayer money being spent to bail out Wall Street investment bankers who some people may have believed could be one of the causes of the global financial crisis.
By September and October of 2008, people began investing heavily in gold, bonds and US dollar or Euro currency as it was seen as a safer alternative to the ailing housing or stock market.
In January of 2009 US President Obama proposed federal spending of around $1 trillion in an attempt to improve the state of the financial crisis. The Australian government also proposed another stimulus package, pledging to give cash handouts to tax payers, and spend more money on longer-term infrastructure projects.
Australia’s response to the global financial crisis – the first stimulus package
Australian prime minister Kevin Rudd and Treasurer Wayne Swan delivered their first budget in response to the global financial crisis, with the main objective being to fight inflation – a major problem in the local economy at the time.
The global financial crisis enters a new phase
The collapse of Lehman Brothers on September 14, 2008 marked the beginning of a new phase in the global financial crisis. Governments around the world struggled to rescue giant financial institutions as the fallout from the housing and stock market collapse worsened. Many financial institutions continued to face serious liquidity issues. The Australian government announced the first of it’s stimulus packages aimed to jump-start the slowing economy.
The U.S. government proposed a $700 billion rescue plan, which subsequently failed to pass because some members of US Congress objected to the use of such a massive amount of taxpayer money being spent to bail out Wall Street investment bankers who some people may have believed could be one of the causes of the global financial crisis.
By September and October of 2008, people began investing heavily in gold, bonds and US dollar or Euro currency as it was seen as a safer alternative to the ailing housing or stock market.
In January of 2009 US President Obama proposed federal spending of around $1 trillion in an attempt to improve the state of the financial crisis. The Australian government also proposed another stimulus package, pledging to give cash handouts to tax payers, and spend more money on longer-term infrastructure projects.
Duration : 0:44:58
As Americans wait for the real estate market to recover, many homeowners who can afford their current mortgage are considering walking away from their mortgage obligations. “It is a business decision,” most would say, “banks do it all the time when it serves their best interest.”
So, should you walk away from your mortgage?
http://sccrealestateuncensored.com/
http://micasamidinero.com/
Duration : 0:10:22
Jan. 20 (Bloomberg) — Steven Blitz, an economist at ITG Investment Research, Daniel Alpert, managing director at Westwood Capital LLC, and Stephen Wood, chief market strategist at Russell Investments, talk about the U.S. housing market, increased lending standards at banks and the European sovereign debt crisis.
They speak with Pimm Fox on Bloomberg Television’s “Taking Stock.” (Source: Bloomberg)
Duration : 0:15:50
Mortgage Broker, Yamila Ayad, shares her views on the San Diego housing crisis and how easy it used to be to get a home loan and how difficult it can be today.
Duration : 0:5:30
FULL Uncut Version. click on “show more” to view info
Mortgage Strike secret revolt revealed SEIU Lerner FULL Uncut Version
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Ex-SEIU Official Details Plan to ‘Destabilize’ Economy
http://politifi.com/news/ExSEIU-Official-Details-Plan-to-Destabilize-Economy-1790087.html
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Coalition bent on Destroying US Capitalism by wealth redistribution ? …. Left’s Economic Terrorism Playbook….
Calls for a nationwide mortgage revolt strike starting first week in may 2011. Strike Plans Starting with JP Morgan Chase Bank in NYC Manhattan. Calling for 500,00 poeple or more to just stop paying their mortgages etc., Lerner’s plan is to organize a mass, coordinated “strike” on mortgage, student loan, and local government debt payments–thus bringing the banks to their Knee’s, to the edge of insolvency. Scheduled to start in May 2011.
Updated: March 24th 2011 ….
STUNNING SECRET REVEALED..CHASE EMPLOYEE TELLS ALL…BANKS ARE IN THE FORECLOSURE BUSINESS
http://webcache.googleusercontent.com/search?q=cache:jdKAmrhQhaAJ:foreclosureblues.wordpress.com/2010/09/11/stunning-secret-revealed-banks-are-in-the-foreclosure-business-2/+Mortgage+Strike+secret+revealed&cd=20&hl=en&ct=clnk&gl=us&source=www.google.com
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borrowers revolt, mortgage strike. mortgage revolt..
Secret Plan To Destroy JP Morgan Chase UNCUT TAPE Former SEIU Official Reveals.
CAUGHT ON TAPE: Former SEIU Official Reveals Secret Plan To Destroy JP Morgan Chase, Crash The Stock Market Wall Street, And Redistribute Wealth In America
Calls for a mortgage strike in may 2011.
Specifically, the plan seeks to destroy JP Morgan Chase, nuke the stock market, and weaken Wall Street’s grip on power, thus creating the conditions necessary for a redistribution of wealth and a change in government.
The former SEIU official, Steven Lerner, spoke in a closed session at a Pace University forum last weekend.
Steven Lerner, reported to have visited the White House on at least four separate occasions, formerly of SEIU and the architect of the SEIU’s groundbreaking Justice for Janitors campaign. He led the union’s banking and finance campaign and has partnered with unions and groups in Europe, South American and elsewhere in campaigns to hold financial institutions accountable. As director of the union’s private equity project, he launched a long campaign to expose the over-leveraged feeding frenzy of private equity firms during the boom years that led to the ensuing economic disaster.
http://radiopatriot.wordpress.com/2011/03/22/glenn-beck-reveals-the-lefts-economic-terrorism-playbook-the-chase-campaign/
… see full transcript.
Lerner said that unions and community organizations are, for all intents and purposes, dead. The only way to achieve their goals, therefore–the redistribution of wealth and the return of “$17 trillion” stolen from the middle class by Wall Street–is to “destabilize the country.”
Lerner’s plan is to organize a mass, coordinated “strike” on mortgage, student loan, and local government debt payments–thus bringing the banks to the edge of insolvency and forcing them to renegotiate the terms of the loans. This destabilization and turmoil, Lerner hopes, will also crash the stock market, isolating the banking class and allowing for a transfer of power.
(about: Lerner was ousted from SEIU last November, reportedly for spending millions of the union’s dollars trying to pursue a plan like the one he details here. It is not clear what, if any, power and influence he currently wields. His main message–that Wall Street won the financial crisis, that inequality in this country is hitting record levels, and that there appears to be no other way to stop the trend–will almost certainly resonate.)
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Senators and congressmen, DOJ:
The Honorable Eric H. Holder, Jr.
Attorney General
US Department of Justice
950 Pennsylvania Ave., NW
Washington, DC 20530-0001
http://hughcpeconjrs.blogspot.com/
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Interesting reads:
Just Who Is The SEIU Threatening These Days?
http://www.redstate.com/repair_man_jack/2011/03/23/just-who-is-the-seiu-threatening-these-days/
http://webcache.googleusercontent.com/search?q=cache:bnBxnICF1YsJ:realestate.aol.com/blog/2010/01/25/the-new-mortgage-revolution-walk-away/+Mortgage+Strike+secret+revolt+revealed&cd=7&hl=en&ct=clnk&gl=us&source=www.google.com
http://www.patriotactionnetwork.com/forum/topics/caught-on-tape-democrats-plan?commentId=2600775%3AComment%3A3496315&xg_source=activity
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Duration : 0:12:14
http://www.kw.com NOVEMBER Hello and welcome to This Month in Real Estate. I’m JAY PAPASAN.
Our top story: what kinds of homes are first time homebuyers looking for? We’ll have the answer in a moment.
But first, the numbers.
[NUMBERS]
And now, our top story. According to a recent report from KW research …
• Over half of all first time home buyers stayed in the same area where they were renting
• More than three quarters of all first time home buyers purchased a single family detached home
• Most first time home buyers purchased a three bedroom and two bath home
For tips on buying right the first time, we turn to News You Can Use …
NEWS YOU CAN USE
When it comes to the decision between buying or renting, some renters think they simply can’t afford a mortgage. The reality is if you’re renting, you are already paying a mortgage — it just happens to be your landlord’s, not your own.
Here are three secrets of homeownership that your landlord doesn’t want you to know …
Number 1: Equity. You can build wealth through equity. Think of equity as a long-term savings account. Every month you pay your mortgage, a portion of that mortgage goes into that account.
Number 2: Appreciation. You can build even more equity though appreciation. Think of appreciation as the interest your home earns over time.
Number 3: Control. A home that’s yours means you won’t need your landlord’s permission to paint, renovate and make it a home of your own.
If you’re ready to stop paying your landlord’s mortgage and start building your own wealth, talk to your real estate professional.
MAIN
That’s all for This Month in Real Estate. Thank you for joining us.
Duration : 0:2:15
Sub-prime mortgages were supposed to put an end to segregated neighbourhoods by allowing affordable housing to more people. But a new study shows that better access to mortgages leads to more – not less – racial segregation.
Duration : 0:6:40
MARKET MELTDOWN