All Posts Tagged With: "banks"
Big Bank Derivative Bets Nearly Double In Six Years
America’s major banks now hold derivatives with a notational worth of $225 trillion – about a third of the world total. No kidding. Trillion. And that’s up from a mere $120 trillion six years ago. Rather than being weened off derivatives, America’s big banks are more deeply entrenched then ever. Hopefully Wall Street has it figured [...]
4Oct2012 | Peter G. Miller | 1 comment | Continued
America’s Big Banks, America’s Financial Vietnam
Three years ago the most-powerful instutitions in America were the nation’s largest banks and brokerages, Wall Street for short. While millions of people were losing their homes, their jobs and their savings, the nation’s elite extracted a $700 billion line-of-credit from Uncle Sam. Now Wall Street is our financial Vietnam. It’s broken. The old cures [...]
3Oct2011 | Peter G. Miller | 0 comments | Continued
How To RAISE Social Security Benefits Now
Social Security is much in the news with claims that it’s going bankrupt and cries that benefits must be cut. But that isn’t the case, in fact if everyone simply paid their fair share of the costs — if bosses paid as much of their income as their workers — benefits could be maintained or [...]
5Apr2011 | Peter G. Miller | 19 comments | Continued
Mortgage foreclosure rescue scams (finally) blocked by feds
New rules from the Federal Trade Commission will make it more difficult and costly for bogus loan modification and foreclosure rescue companies to operate nationwide. Unfortunately, the rules are weaker than the standards now used by several states. Under the Mortgage Assistance Relief Services rule, the FTC says that mortgage foreclosure rescue and loan modification [...]
20Nov2010 | Peter G. Miller | 0 comments | Continued
Foreclosures: Why The New York Times Is Wrong
The latest stumble in the foreclosure mess — and probably not the last — has been the revelation that huge numbers of sworn affidavits have been improperly signed. This is not a one-time whoopsie of the type we all make. This is a large-scale practice in which tens of thousands of affidavits were improperly signed, [...]
25Oct2010 | Peter G. Miller | 0 comments | Continued
Should I Use Private Mortgage Lenders?
If you’ve been turned down for a home loan by a bank you might want to look at private mortgage lenders. This is a wide ranging group that may include some good financing sources — and not a few sharks. In basic terms the world of lending can be divided into two groups, regulated lenders [...]
7May2010 | Peter G. Miller | 0 comments | Continued
What are foreclosure brokers?
It used to be that foreclosures were rare events. About .5 percent of all home loans were foreclosed in a year, a figure which reached 4.58 percent in the fourth quarter of 2009 according to the Mortgage Bankers Association. The huge foreclosure surge has not happened everywhere — some areas have seen vastly more foreclosures [...]
2Mar2010 | Peter G. Miller | 0 comments | Continued
Tales Of A Big Bank Refugee
In the eyes of big banking I am a sinner of the first magnitude. My offense is not over-drafts or bounced checks, but rather the undeniable fact that I am self-employed. I last held a job in 1971, and since then have managed to cobble together a reasonable existence as an author and consultant. Clients [...]
4Nov2009 | Peter G. Miller | 0 comments | Continued
Real Estate: Banks Excluded From Robo Call Ban
Robo calls are now largely banned, unless the caller has written permission to phone you. “American consumers have made it crystal clear that few things annoy them more than the billions of commercial telemarketing robocalls they receive every year,– says Jon Leibowitz, Chairman of the Federal Trade Commission. “Starting September 1, this bombardment of prerecorded [...]
9Sep2009 | Peter G. Miller | 0 comments | Continued
Appraisal Worries Really About The Future
Tim writes and points to a number of problems he sees with the Home Valuation Code of Conduct (HVCC). Fair enough. Let’s look at what he offers: >>>Instead of a majority of valuation assignments going to appraisal managment companies we now have virtually ALL assignments being controlled by these joint venture arrangments. Notice how the [...]
22Jul2009 | Peter G. Miller | 0 comments | Continued
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