Live! From Washington D.C.: Treasury Secretary Timothy Geithner Opens Up News Conference
4:42
Bloomberg News
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof. —John Kenneth Galbraith
Retail Sales in Jan rose .4% headline m/o/m, .7% ex auto's, .6% ex auto's and gasoline and .7% at the core. The headline figure was less than expected while the rest were slightly better. But, with respect to non headline sales, because Dec figures were revised lower, taking the two months together were about in line with forecasts overall. Sales rose in electronics, building materials, food/beverages, clothing, sporting goods, dept stores and restaurant/bars and fell interestingly for online retailers, health/personal care, furniture and motor vehicle/parts. Bottom line, headline sales were below expectations due to the greater than expected fall m/o/m...
read more »
Tweet
Facebook
Reddit
Digg this!
April 7th, 2009 at 9:14 pm
I think he should have addressed the Fraud committed by people taking out the “Liar Loans” and investigations and prosecutions of them as well.
I agree with The Market Ticker Guy on that…
http://market-ticker.org/archives/936-Why-I-Advocate-Prosecution.html
And why oh why nothing on Fannie and Freddie?
(Page 1 of 2, totaling 5 entries) » next page
BOOM!!!! (Fannie/Freddie etc.)
Oh Crap: (Triad)
The insurer, which put itself into run-off and ceased writing new mortgage insurance policies in the middle of last year, said late Wednesday that it had received a corrective order from its regulator, the Illinois Director of Insurance, limiting its payout on claims to 60 percent. The remaining 40 percent of a claim will essentially take the form of an IOU, or a deferred payment obligation (DPO), meaning the lender/investor will not recover the full amount of its claim.
This is going to result in insane severity increases on losses taken by Fannie, Freddie, and anyone else in the mortgage business that has wraps (PMI) written by Triad (think BAC, WFC, etc)
If this spreads then it of course gets even worse.
Worse, policyholders will still be required to make full premium payments!
How would you like to make a full premium payment on your house insurance and then get paid only 60 cents, with the other 40 cents being an “IOU” of dubious value?
This is going to get ugly – imminently.
http://market-ticker.org/archives/2009/04/02.html