- This topic has 184 replies, 23 voices, and was last updated 15 years, 10 months ago by
Bubblesitter.
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January 11, 2008 at 10:16 PM #134727January 11, 2008 at 10:16 PM #134923
hipmatt
ParticipantHas Hillary Clinton’s plan been mentioned…
-A $30-billion Emergency Housing Crisis Fund to help states counter the effects of home foreclosures.
-90-day moratorium on foreclosures and a minimum five-year rate freeze on subprime mortgages.
-$25 billion in emergency energy assistance.
-$10 billion to extend unemployment insurance.
-$40 billion in tax refunds.
where will all the funds come from?
just tack it on to our current $800+ billion account deficit.
January 11, 2008 at 10:16 PM #134932ParticipantHas Hillary Clinton’s plan been mentioned…
-A $30-billion Emergency Housing Crisis Fund to help states counter the effects of home foreclosures.
-90-day moratorium on foreclosures and a minimum five-year rate freeze on subprime mortgages.
-$25 billion in emergency energy assistance.
-$10 billion to extend unemployment insurance.
-$40 billion in tax refunds.
where will all the funds come from?
just tack it on to our current $800+ billion account deficit.
January 11, 2008 at 10:16 PM #134987ParticipantHas Hillary Clinton’s plan been mentioned…
-A $30-billion Emergency Housing Crisis Fund to help states counter the effects of home foreclosures.
-90-day moratorium on foreclosures and a minimum five-year rate freeze on subprime mortgages.
-$25 billion in emergency energy assistance.
-$10 billion to extend unemployment insurance.
-$40 billion in tax refunds.
where will all the funds come from?
just tack it on to our current $800+ billion account deficit.
January 11, 2008 at 10:16 PM #135029ParticipantHas Hillary Clinton’s plan been mentioned…
-A $30-billion Emergency Housing Crisis Fund to help states counter the effects of home foreclosures.
-90-day moratorium on foreclosures and a minimum five-year rate freeze on subprime mortgages.
-$25 billion in emergency energy assistance.
-$10 billion to extend unemployment insurance.
-$40 billion in tax refunds.
where will all the funds come from?
just tack it on to our current $800+ billion account deficit.
January 20, 2008 at 9:44 AM #139110Bubblesitter
ParticipantGotta add the Bond insurers to this list, Ambac, MBIA, ACA, etc.
A few years back they used to just insure stable, safe muni-bonds. They got into the business of insuring Mortgage-backed securities during the housing bubble, reaping big profits. I guess like everyone, they got a bit too greedy.
They are in process getting their pristine AAA ratings downgraded. A ratings downgrade in the bond insurance business is effectively a death sentence. The big banks will now have huge additional write downs.
We will see a worsening of the credit crunch and extending of the housing downturn.
Bubblesitter
January 20, 2008 at 9:44 AM #139321ParticipantGotta add the Bond insurers to this list, Ambac, MBIA, ACA, etc.
A few years back they used to just insure stable, safe muni-bonds. They got into the business of insuring Mortgage-backed securities during the housing bubble, reaping big profits. I guess like everyone, they got a bit too greedy.
They are in process getting their pristine AAA ratings downgraded. A ratings downgrade in the bond insurance business is effectively a death sentence. The big banks will now have huge additional write downs.
We will see a worsening of the credit crunch and extending of the housing downturn.
Bubblesitter
January 20, 2008 at 9:44 AM #139345ParticipantGotta add the Bond insurers to this list, Ambac, MBIA, ACA, etc.
A few years back they used to just insure stable, safe muni-bonds. They got into the business of insuring Mortgage-backed securities during the housing bubble, reaping big profits. I guess like everyone, they got a bit too greedy.
They are in process getting their pristine AAA ratings downgraded. A ratings downgrade in the bond insurance business is effectively a death sentence. The big banks will now have huge additional write downs.
We will see a worsening of the credit crunch and extending of the housing downturn.
Bubblesitter
January 20, 2008 at 9:44 AM #139370ParticipantGotta add the Bond insurers to this list, Ambac, MBIA, ACA, etc.
A few years back they used to just insure stable, safe muni-bonds. They got into the business of insuring Mortgage-backed securities during the housing bubble, reaping big profits. I guess like everyone, they got a bit too greedy.
They are in process getting their pristine AAA ratings downgraded. A ratings downgrade in the bond insurance business is effectively a death sentence. The big banks will now have huge additional write downs.
We will see a worsening of the credit crunch and extending of the housing downturn.
Bubblesitter
January 20, 2008 at 9:44 AM #139415ParticipantGotta add the Bond insurers to this list, Ambac, MBIA, ACA, etc.
A few years back they used to just insure stable, safe muni-bonds. They got into the business of insuring Mortgage-backed securities during the housing bubble, reaping big profits. I guess like everyone, they got a bit too greedy.
They are in process getting their pristine AAA ratings downgraded. A ratings downgrade in the bond insurance business is effectively a death sentence. The big banks will now have huge additional write downs.
We will see a worsening of the credit crunch and extending of the housing downturn.
Bubblesitter
February 12, 2008 at 10:40 PM #152500ParticipantAfter rejecting Buffet’s offer today, the big Mortgage insurers MBIA, Ambac are now even closer to ratings downgrades and eventual insolvency.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aAxVkU8yAycM&refer=home
Warren Buffet is a genius (an actual genius, not a satirical genius). His offer to Ambac, MBIA was widely portrayed as a “rescue”, but it is a calculated move to become the dominant Muni-bond insurer.
The bond insurers may in the end may be forced to do a deal like this, splitting their Mortgage securities and Muni-bond business.
In one year, Buffet will own nearly the entire Muni-bond insurance business. A very profitable, albeit slow growing business.
Bubblesitter
February 12, 2008 at 10:40 PM #152779ParticipantAfter rejecting Buffet’s offer today, the big Mortgage insurers MBIA, Ambac are now even closer to ratings downgrades and eventual insolvency.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aAxVkU8yAycM&refer=home
Warren Buffet is a genius (an actual genius, not a satirical genius). His offer to Ambac, MBIA was widely portrayed as a “rescue”, but it is a calculated move to become the dominant Muni-bond insurer.
The bond insurers may in the end may be forced to do a deal like this, splitting their Mortgage securities and Muni-bond business.
In one year, Buffet will own nearly the entire Muni-bond insurance business. A very profitable, albeit slow growing business.
Bubblesitter
February 12, 2008 at 10:40 PM #152784ParticipantAfter rejecting Buffet’s offer today, the big Mortgage insurers MBIA, Ambac are now even closer to ratings downgrades and eventual insolvency.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aAxVkU8yAycM&refer=home
Warren Buffet is a genius (an actual genius, not a satirical genius). His offer to Ambac, MBIA was widely portrayed as a “rescue”, but it is a calculated move to become the dominant Muni-bond insurer.
The bond insurers may in the end may be forced to do a deal like this, splitting their Mortgage securities and Muni-bond business.
In one year, Buffet will own nearly the entire Muni-bond insurance business. A very profitable, albeit slow growing business.
Bubblesitter
February 12, 2008 at 10:40 PM #152803ParticipantAfter rejecting Buffet’s offer today, the big Mortgage insurers MBIA, Ambac are now even closer to ratings downgrades and eventual insolvency.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aAxVkU8yAycM&refer=home
Warren Buffet is a genius (an actual genius, not a satirical genius). His offer to Ambac, MBIA was widely portrayed as a “rescue”, but it is a calculated move to become the dominant Muni-bond insurer.
The bond insurers may in the end may be forced to do a deal like this, splitting their Mortgage securities and Muni-bond business.
In one year, Buffet will own nearly the entire Muni-bond insurance business. A very profitable, albeit slow growing business.
Bubblesitter
February 12, 2008 at 10:40 PM #152881ParticipantAfter rejecting Buffet’s offer today, the big Mortgage insurers MBIA, Ambac are now even closer to ratings downgrades and eventual insolvency.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aAxVkU8yAycM&refer=home
Warren Buffet is a genius (an actual genius, not a satirical genius). His offer to Ambac, MBIA was widely portrayed as a “rescue”, but it is a calculated move to become the dominant Muni-bond insurer.
The bond insurers may in the end may be forced to do a deal like this, splitting their Mortgage securities and Muni-bond business.
In one year, Buffet will own nearly the entire Muni-bond insurance business. A very profitable, albeit slow growing business.
Bubblesitter
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