All Posts Tagged With: "Wall Street"
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
Ready For The 3 Percent Mortgage?
It was in the 1880s that long-term interest rates hit 3.5 percent, something we may soon see with mortgages. Mortgage borrowers are now seeing home loans at not much more than 4 percent for 30-year, fixed-rate mortgages. And, reports HSH.com, 15-year loans are already below 4 percent. The lower rates result in substantially reduced monthly [...]
23Sep2011 | Peter G. Miller | 1 comment | 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
Will “safe” QRM mortgages raise loan rates?
In an important step forward, the Consumer Financial Protection Bureau finally has a website — and a big issue to confront. The question is fairly straight-forward: What’s a safe mortgage? There must soon be an official definition to comply with Wall Street reform measures passed last summer. The Wall Street Reform Act tells us that [...]
8Feb2011 | Peter G. Miller | 0 comments | Continued
Despite Wall Street reform mortgage banker profits surge
Despite worries that the Wall Street reform legislation passed last summer would crimp earnings, the Mortgage bankers Association is reporting that profits per loan soared in the third quarter. “Independent mortgage banks and subsidiaries made an average profit of $1,423 on each loan they originated in the third quarter of 2010, up from $917 per [...]
15Dec2010 | Peter G. Miller | 0 comments | Continued
Times Square Bombing — A Repeat of History
The word this morning is that a suspect in the Times Square bombing has been captured. The New York City police, the border patrol, the FBI and other governmental agencies did a remarkable job assembling evidence, tracking down leads and assuring public confidence. While the investigation is not complete, the organizations and agencies working on [...]
4May2010 | Peter G. Miller | 0 comments | Continued
SEC — No Help For Mortgage Borrowers
The news is now filled with SEC accusations that Goldman Sachs defrauded investors who bought mortgage-backed securities, allegations Goldman Sachs strongly denies. But nowhere in the news do we hear of any effort to help the mortgage borrowers whose screwing made the financial meltdown possible. While the SEC is concerned about helping securities investors who [...]
19Apr2010 | Peter G. Miller | 0 comments | Continued
Mortgage Reform — Getting Back To Basics
Given the huge profits on Wall Street, we seem to have quickly forgotten that financial reform is necessary if we’re to prevent or less the next financial meltdown. Sen. Ted Kaufman (D-DE) is now proposing systemic financial reform. One part of that reform — a big part — would clearly involve changes in the way [...]
12Mar2010 | Peter G. Miller | 0 comments | Continued
Why Suze Orman Is Wrong
I find many of the financial suggestions and strategies offered by Suze Orman to be sound and sensible, especially her recommendations to eliminate credit card debt and bulk up savings. Her efforts to encourage thrift and common sense should be applauded. That said, she has an article with which I disagree in the January issue [...]
5Jan2009 | Peter G. Miller | 0 comments | Continued
Do We Need A Dow 2.0?
Like oxygen, reports on the daily doings of the Dow Jones Industrial Average are everywhere. It’s the fastest way to check Wall Street’s pulse and the one benchmark most likely to be quoted in the morning paper and the nightly news. There are 30 companies which comprise the DJIA, but not the same companies all [...]
13Sep2008 | Peter G. Miller | 1 comment | Continued
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