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Friday, October 30, 2009

The Mortgage Corener = News and Links

I In our continuing effort to bring you information and commentary, we are establishing this daily news link feature.  News today is spread in thousands of different blogs and other internet sources.  Most don't have the time to search so we hope this gives you a one stop source.  You pick and choose and decide if you want to follow any specific publication. 

It is ans has been our purpose to seek out the truth in order to form opinions, take actions or simply prepare ourselves and plan accordingly.

We hope you enjoy this new feature and find it useful.

By:  Shahien Nasiripour | Huffington Post
Democrats and Republicans ripped into Treasury Secretary Timothy Geithner during a Congressional hearing Thursday, as Geithner defended an administration plan to address "too big to fail" financial firms.

TMC Commentary:  I watched this on CSPAN and could not believe the expressions of Geithner's face as he was asked questions that he tried to and often did avoid answering.  Especially expressive were his eyes


zero hedge:
Even as Tim Geithner was boldly lying today on national TV, claiming that he abhors the concept of too big to fail, and condemns moral hazard, behind everybody's back he, together with the entire Obama administration, was trying to pass a law that would shift TBTF from a temporary program into officially canonized law. This is a scandal that has gotten little recognition in most of the MSM: in essence it guarantees that the massive mega banks like Goldman Sachs, BofA, and JPM will take on so much disproportionate risk the next time around (and with a moral-hazard encouraging Federal Reserve as risk regulator virtually guarantees their implosion) that not only will they blow up spectacularly once again, but that their bailout next time around will surely force America, already strapped with trillions of new upcoming debt courtesy of stimulus after stimulus, into sovereign insolvency.
Read the whole story: zero hedge

Fed Regional Bank Heads: Congress Threatening Central Bank's Autonomy
Oct. 30 (Bloomberg) -- Federal Reserve regional bank presidents are trying to ward off congressional efforts to weaken their clout, saying the moves may jeopardize..

Barney Frank: No More Secret Agreements Between Regulators and Banks
Updated at 7:45 p.m. ET Every action taken by federal regulators against large, systemically-important financial firms -- those commonly referred to as "too big to...

Too Big To Fail, Too Small To Survive: Small Bank Failures Mount, While Big Banks' Profits Soar
On Wall Street, they may be popping the champagne bottles over big bank profits this past quarter. But times are tough for small to mid-size.

Les Leopold: Geithner Advocates Permanent Billionaire Bailout Society?

Everyone realizes that we have to do something about "too big to fail." But there are two fundamentally different paths: one threatens the very existence...

Nathan Havey: Join in the Effort to Break Up the Big Banks

There is a movement afoot, and I'd like you to join us. Several organizations are cooking up a number of ways to make this change happen.

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