Brad Stetser at rge monitor has a great write up on the question of central bank interventions that MG suggested was relevent in comments. The explanation is a narrative and has many links. However, it needs to be read over there, as I do not know how to break it into parts. The size and […]
Washington Mutual files amended executive 2008 bonus package with the SEC. For the 2008 Bonus Plan the Committee selected the following performance measures and relative weights: · The Company’s 2008 net operating profit, weighted at 30%, calculated as operating profit before income taxes and excluding the effects of (i) loan loss provisions other than related […]
Salon notes the WSJ article on smart customer planning for borrowing. Wall Street Journal’s Robin Sidel explains that home equity credit lenders are stuck in a tough place when homeowners start defaulting.While banks can foreclose on a first-lien mortgage, lenders often have little recourse when trying to collect a delinquent home-equity loan, especially if another […]
William Polley wonders out loud as well: The WSJ Real Time Economics Blog opens a post with this: “Back in 2003, when the Federal Reserve cut interest rates to 1%, the world worried that the Fed was running out of ammunition and would soon have to turn to unconventional tools. Now, in 2008, it’s worth […]
The Office of Currency Control has a website to explore. National bank subsidiaries monitored by OCC tend to be mortgage companies. The link is to the long list of matching trade names to the correct national bank, and in which state the subsidiary operates. The Securities Exchange Commission has a listing of proposed rule changes […]
This site dedicated to OCC watching offers a little background for us in the changes being made with banking rules. In January, 2004 the OCC issued two related and sweeping rules, one preempting nearly all state and local consumer laws (the “preemption rule”) [69 Fed. Reg. 1904 (2004)] and the other restricting nearly all enforcement […]
Please post all comments on the unfolding drama of Mr. Spitzer here.
The Project on Student Debt at The Institute of College Access and Success (ticas.org) reports: The current credit crunch has students and parents concerned about whether they will be able to get the loans they need to cover college costs. The good news is that federal student loans are and will remain widely available to […]
An admiral takes on the White House: By Gareth Porter WASHINGTON – A new article on CENTCOM commander Admiral William Fallon confirms that his public statements last autumn ruling out war against Iran were not coordinated with the White House and landed him in trouble more than once with President George W Bush and Vice […]
Think Progress carries this report on Rove in Iowa. The links, which provide much better context, did not port to here, so go have a look should you desire. Karl Rove, former senior aide to President Bush, spoke to a hostile crowd at the University of Iowa yesterday evening. Students and local citizens protested his […]