Tag: Mortgage Meltdown

Oct 24 2008

Greenspan is Shocked! Shocked, I tell you.

Badgered by lawmakers, former Federal Reserve Chairman Alan Greenspan denied the nation’s economic crisis was his fault on Thursday but conceded the meltdown had revealed a flaw in a lifetime of economic thinking and left him in a “state of shocked disbelief.”

Former Federal Reserve Chairman Alan Greenspan, describing the current financial crisis as a “once-in-a-century credit tsunami,” acknowledged Thursday that the crisis has exposed flaws in his thinking and in the workings of the free-market system.

 

Duh, do you think?   Maybe now we can drive a stake through the hearts wallets of the free market, federal reserve, and Alan Greenspan.

Jul 24 2008

**UPDATE Meltdown? Bad Loans? Lender’s REAL dirty little secret

As most of you know who have read some of my diaries and comments, we are in Chapter 13 and in a battle with WaMu, our lender to keep our home. This has been quite the adventure and a real eye opener. When our problems with WaMu started in the fall of 2006 we were pretty sure we weren’t the only ones, fact is we aren’t, but we also had no idea and my guess is neither do you. Follow me below the fold for a sneak peek into Mortgage Lenders REAL dirty secret, the one that is more dangerous and pervasive than sub-prime loans.

May 25 2008

Meltdown? Bad Loans? Lender’s REAL dirty little secret

As most of you know who have read some of my diaries and comments, we are in Chapter 13 and in a battle with WaMu, our lender to keep our home. This has been quite the adventure and a real eye opener. When our problems with WaMu started in the fall of 2006 we were pretty sure we weren’t the only ones, fact is we aren’t, but we also had no idea and my guess is neither do you. Follow me below the fold for a sneak peek into Mortgage Lenders REAL dirty secret, the one that is more dangerous and pervasive than sub-prime loans.