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AddictingGames — the Web site that published ripped-from-the-headlines games such as "Baseball Juiced," "Trillion Dollar Bailout," "Where's the Naughty Governor?" and "Hero on the Hudson" — is tackling its riskiest project yet: turning the slump in the housing market into something fun.
WARNING: Watching these videos may cause intense rage. Three different videos document how Democrats caused the mortgage meltdown, the near-collapse of our entire financial system, and a worldwide financial crisis.
Warning: possible second mortgage bailout. Would you consider a $1 million mortgage as subprime? What if the borrower has no cash? And the loan is guaranteed by taxpayers?
Financial Crisis Inquiry Kicks into High GearIn a recent Nation cover story, William Greider decried the lack of attention being paid by the media to the Financial Crisis Inquiry Commission (FCIC) charged with investigating the causes of the financial meltdown.
Bail-Out Bonuses at Banks that Got the Most $ from U.s. - $1 Million a Head...Hundreds and Hundreds of HeadsThousands of top traders and bankers on Wall Street were awarded huge bonuses and pay packages last year, even as their employers were battered by the financial crisis. More Articles
U.S. Program to Help Banks Sell Bad Assets Is Halted...some analysts said the banks' reluctance to clean up their balance sheets meant they were merely postponing their day of reckoning. Indeed, some analysts said government policies had made it easier for banks to gloss over their bad loans. More Articles
U.S. to Detail Plan to Rein In Finance WorldThe Treasury secretary, Timothy F. Geithner, will outline the broad revamping of the regulatory system, which goes further than expected, in a hearing on Thursday.
US Details Toxic Asset ProgrammeThe US has announced details of a plan to buy up to $1 trillion (£686bn) worth of toxic assets to help repair banks' balance sheets. More Articles
Brown Looks to US: Seize the Moment to Tackle World CrisisGordon Brown yesterday invoked the spirit of American optimism as he challenged Congress to let Barack Obama lead the world away from self-defeating protectionism and the perils of irreversible climate change.
Do You Qualify for a New Mortgage?The Web site financialstability.gov has a "self-assessment" tool to help homeowners determine whether they qualify for either of the programs, as well as Q&As on how the programs work. More Articles
How the Homeowner Bailout Impacts the IndividualThis excellent post provides a detailed explanation of how individual Americans can benefit from the "Homeowner Affordability and Stability Plan (HASP)," as announced by President Obama in Phoenix, AZ on Wednesday.
Fannie Mae Eases Credit To Aid Mortgage Lending - New York TimesThis NYT article foreshadowed credit crisis and the circumstances that precipitated it nine years in advance. I have not read an article that more accurately and honestly reports some of the primary reasons for the mortgage meltdown.
As the Recession Waxes, Business Meetings WaneDo you believe any of the reports stemming from American Express surveys? I don't. If those results were from an educational institution and the source material available, I'd have a different response.
Britain Cuts Key Rate to Lowest Point Since 1694The British central bank cut the rate by half a percentage point to its lowest level since the bank's creation in 1694.
Senate Advances Tax Break for HomebuyersThe Senate on Wednesday voted to expand the economic stimulus package with a tax credit for homebuyers of up to $15,000, a provision championed by Republicans as addressing a root cause of the recession. More Articles
Barney Frank to Bankers: People Hate YouRep. Barney Frank (D-Mass.) has this very blunt message for bankers: "People really hate you, and they're starting to hate us because we're hanging out with you. And you have to help us deal with that."
American Express Marketing Exec: Marketing Conference Amused Over Abused PhrasiologyMost likely, American Express CMO, John Hayes didn't even prepare the content for his address at the Mplanet Marketing Conference. Communications are painstakingly combed through at the Plastic Giant's HQ.
Economic Troubles Bring Many to the Brink"Well, it's a big deal when you tell me that you don't want to live if you don't find something," Gore stresses to her caller. "Do you realize what you're telling me? I am not trying to preach, but that's kind of frightening."
Lynched at MerrillEven at the end, after presiding over the worst performance in the 94-year history of Merrill Lynch, and as Bank of America pinned the blame for a bonus payment scandal squarely on his back, John Thain did not seem to know what was about to befall him. More Articles
According to the numbers published this past week by the Washington Post, along with countless others, in 2008 alone there were 2.3 million home foreclosures in the United States. 2.3 million. 2.3 MILLION!
U.S. foreclosure Filings in Rose 81% in '08U.S. foreclosure filings in 2008 rose 81% from 2007 and tripled from 2006...A total of nearly 3.16 million foreclosure filings. More Articles
Mortgage Meltdown and Foreclosure Homes Generated by UnemploymentTruly is sad and scary whats going on with all this meltdown around us. Makes me wonder when its all going to end. I guess we will get to see if Obama is the changer hes made him self out to be. Or if he will just use the excuse that Bush made it to bad.
We Don't Need Anyone to Run the World Economics Nobel Laureate Friedrich Hayek called it spontaneous order. The market system is the leading example. In promoting my interest in gaining through a voluntary exchange with you, I also promote your interest in gaining through voluntary exchange with me.
Calculated Risk: 60 Minutes: Wall Street's Shadow MarketWhat led to the bailout
The Real Scandal-How Feds Invited The Mortgage Mess PERHAPS the greatest scandal of the mort gage crisis is that it is a direct result of an intentional loosening of underwriting standards - done in the name of ending discrimination, despite warnings that it could lead to wide-scale defaults.
Did Liberals Cause the Sub-Prime Crisis? | The American ProspectConservatives blame the housing crisis on a 1977 law that helps-low income people get mortgages. It's a useful story for them, but it isn't true.
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