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 I-81/I-80
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A post I saw at CL&P Blog, which mentioned that Minnesota is seriously considering a moratorium on foreclosures, got me thinking. Isn’t a simple moratorium just a postponing of the inevitable? After all, unless something else happens, in all likelihood many of the potential “foreclosees” will be unlikely to catch up with their payments, the [...] 
Seen in the Wall Street Journal (subscriber link): SLM Corp. swung to a first-quarter loss and warned it can’t make profitable loans at this time, prompting the nation’s largest student lender to assess its operation and call for a “system-wide liquidity solution.” The credit crunch and recent cuts in federal subsidies have led some lenders to stop [...] 
Seen in the Australian Financial Standard: Actuaries will play a more central part of the banking and financial services sector as a result of the US sub-prime mortgage crisis, according to Greg Martin, Institute of Actuaries of Australia president. “We are seeing enterprise risk management (ERM) roles proliferate across the financial services sector particularly where recent volatility [...]
In case you were looking for some tangible evidence of how tight the credit market has become…well, apparently all you need to do is attempt to apply for a mortgage. Seen in Zacks Commentary: Typically, a minimum credit score of 680 has been required to get favorable rates on mortgages. This score has been [...]
The Secretary of the Treasury, Henry Paulson, held a press conference Monday that discussed….well, it’s probably a bit much to call it a plan. Perhaps it’s best described as a focusing of effort. Quoting his prepared remarks: While the reality is a bit more complex, in the interest of simplicity, there are four categories [...] |
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