Okay, I predicted that it might happen last weekend, and I was off by a week. Of course, the Fed and Treasury Dept. had bigger fish to fry a week ago with the take-over of Fannie Mae and Freddie Mac. So, Lehman was left to languish another week. This weekend, while most of us were… Continue Reading
I am getting calls these days from folks all around metro Atlanta with two requests; two sides of the same coin, really. The first is from real estate investors, new or experienced. Who want to pick up properties they see as excellent deals. Last week an interesting call happened. An investor who bought and rented… Continue Reading
Mortgage rates closed Friday at 6.25%, and opened yesterday morning at 5.5%. Why? Because the Nationalization of Fannie and Freddie caused MBS (mortgage backed securities) to look very similar in stability to a T-Bill. It is (implicitly) backed by the full faith of the Federal Government. So, money went pouring into these securities…. Continue Reading
As we enjoyed our weekend, wondering if Brady will make it back for the season and watching the Bears take out the Superbowl champion Colts; and we enjoyed one of the last weekends with the kids at the pool, goverment officials were busy. And, just like we suspected,… Continue Reading
When big investment banks are about to fall, Bernanke and co. tend to make things happen on the weekend. Like Bear Stearns bailout – and their cheap acquisition by JPMorgan Chase. I would not be surprised at all if Monday morning we wake to the news that something major has happened… Continue Reading