Buyers with questionable credit, and the financial institutions that issued them mortgages, have received a lion's share of blame for the financial crisis, which was presaged by widespread defaults on subprime mortgages and a collapse in mortgage-backed securities.
According to the WSJ, the firms draw a distinction between what they’re doing now and what took place during the run-up to the subprime crisis. They’re requiring higher down payments than banks would, and seem to believe they’re lending to borrowers who pose less risk than those who defaulted in large numbers a few years ago.
In catering to borrowers with imperfect credit, the firms' behavior is reminiscent of that of Ally Financial, which has been deliberately courting used car buyers with subprime loans despite concerns about risk.
Last week, the WSJ reported that the federal government will likely stop backing mortgage loans above a certain size in October, meaning that come fall, there may be more homeowners seeking "jumbo loans" -- in most cases, a loan above $417,000 -- from private firms.
TIME FOR A PULSE CHECK
2 months and 250+ friends This is Spirit-in-sky-Paul as of today, June 24, 2011.
A Unit is complete and a strong beginning on Spirit-in-sky-Paul-1 is under way. This is a good time to check in with each of you. And, a good time for you to evaluate how you feel about sticking around.
Below are some pre-canned responses for you to choose.
1. I see little value in what U R doing (in fact I have not a clue) so Good time for me to be removed.
2. I almost never even bother to see what you do. But I’ll stay.
3. For a stupid white man you are okay.
4. Don’t go falling all over but I starting to look forward to the next post.
5. For whom I am the baby…got to love me.
Choose a number that best describes how you feel…and paste it in the “comment” box. You are the best
(polling place propaganda).
Each time a man stands up 4 an ideal or acts to improve the lot of others or strikes out against injustice, he sends forth a tiny ripple of hope, and crossing each other from a million different centers of energy and daring, those ripples build a current that can sweep down the mightiest walls of oppression and resistance.
EXTRA!...EXTRA!... READ ALL ABOUT IT!
Little Man lands lead role in new Broadway Musical, Stop the World.
As this intrepid reporter, reported here, moments ago...the title role, 'Mr. Little Everyman' has, at last, been cast. And, this most coveted role, goes 2 R own, Little Man.
Quoting Mr. Little Man, "As a wee little boy, I can vividly remember looking skyward and speaking directly 2 the stars. "Oh, starry sky, I so wish to play Mr. little Everyman when I grow up that if my wish ever comes to pass, I shall, ever there after, dedicate my life to speaking up, and giving voice, to the hopes and prayers for everyman (and every woman). Now that, at long last, my wish that long-ago night, has been granted. A Little Man of my word, from this night forward, and for the remainder of my days, every night I shall become Mr. Little Everyman and I shall give voice to the hopes, aspirations...to their very Dreams for hope, peace, love and joy in the world...and, more particularly, to grant equal opportunity for children the world over to cast their dreams into their very own starry sky."
Postscript: And, so it came to pass, that for the rest of his days, Little Man would, as day slipped into darkness, Little Man would become the one voice for all the worlds Little Everyman (and woman, too).
HONORING HER MEMORY
Christina Taylor Green (9/11/2001 - 1/8/2011)
"I just want her memory to live on, she's a face of hope, a face of change," she said. "Stop the violence, stop the hatred." Mother quote
A life bracketed by two national tragedies: born on the day (9/11/2001) of the bombing of the Twin Towers in New York; died on the day (1/8/2011) of the tragic shootings in Tucson, Arizona.
All of us - we should do everything we can to make sure this country lives up to our children's expectations. Obama quote
Obama Arizona Speech: 'I Want America To Be As Good As She Imagined It'
Little Man remembers this take-away from the 25th re-union of the RHS class of '61:
no matter the changes in our appearance...we sounded exactly as we did in HS. I could listen and recognize the voice that is unique where-as appearance seemed to take on a more generic hue;
our own voice sounds like it belongs to anyone except the person that created it...
when we begin talking 2 ourselves are we trying to identify who it is that has been
using our voice all these years
as we can surgically remove out finger prints, can we surgically alter the sound of our voice
THE ABOVE: musical titled, Stop the World, and follows Little Everyman ...
great music...For Once in A lifetime...
“Americans helping Americans”
Wake up America. It is time for “Americans helping Americans”.
The wheelers and dealers, the sleek and the slippery, the punks and the cheats, the Wall Street chattering class, all have one thing in common. They think they are smarter than you by half. And they believe they can trick you into doing anything they wish. And, they think if they say something often enough, no matter how untrue, that you will come to believe it.
America, say it loud and say it clear. Not this time, Wall Street. Not this time.
In America, we get to have our say, too. It’s your choice America. Do you want to save Wall Street? Or, do you want to save Main Street?
The House and Senate should not be stampeded into creating a Relief Agency for Wall Street. They would be way ahead financially and politically and have the additional bonus of doing what is right for the country by instead bailing-out American home-owners.
The real problems of our economy are all intertwined with the housing crisis; the solutions to the crisis are to be found there as well. Below, I lay out a plan that is fair, simple and cheaper than anything being proposed by the experts.
The basic plan:
(1.) The primary resident of each American will be declared paid-in-full on October 1st.
The immediate consequence will be a major up-tic in consumer spending as we enter the holiday season. Consumer spending accounts for 2/3 of GDP and will stimulate economic activity throughout the economy.
The existing lack of household liquidity has had insidious effects throughout the housing sector. A monthly wind-fall resulting from removing mortgage payments from the family budget will be the fuel necessary to re-energize the entire sector.
(2.) Non-home owning citizens will be provided with a voucher to be used toward the purchase of a home for which they are qualified. It will provide a 5% payment toward the qualified purchase price.
Providing immediate liquidity to families across America will do more good, more quickly and more fairly than anything now being considered.
Call it, “Americans helping Americans”.
It has been nearly a decade since a Republican Congress and a Democratic President decided that those with lots of money should not have their wheeling’s and dealing’s regulated like the rest of us.
The purpose of the Gramm-Leach-Bliley Act -- co-authored by Gramm, passed in 1999 by a Republican-controlled Congress and signed by President Bill Clinton -- was to liberate the banks, stockbrokers and insurance companies from restraints imposed on their activities more than seven decades ago.
Now, those same folks want the rest of us to be left holding the empty bag. A simple, short and straight forward response to that idea is “forget about it”.
Come on America…speak up for yourselves, your families and your neighbors.
Call your elected officials now; by Monday it could be too late.
Just say, you support “Americans helping America”.
And, God Bless America
A year ago, the U.S. Supreme Court's October 2009 Term featured not only the Court's blockbuster ruling in Citizens United v. Federal Election Commission, but also a success rate for the U.S. Chamber of Commerce reaching 81% (or 13 wins in 16 cases) (PDF). This focused a national spotlight on the Court's business rulings under Chief Justice John Roberts. The Court's just-concluded October 2010 Term featured even more cases of considerable importance to business interests, and may ultimately prove just as momentous.
this Term including Wal-Mart v. Dukes, AT&T v. Concepcion, and PLIVA v. Mensing, the Court has made it increasingly difficult for Americans to hold corporations accountable for serious misconduct, including widespread discrimination and fraud.
HONORING HER MEMORY
Christina Taylor Green (9/11/2001 - 1/8/2011)
"I just want her memory to live on, she's a face of hope, a face of change," she said. "Stop the violence, stop the hatred." Mother quote
A life bracketed by two national tragedies: born on the day (9/11/2001) of the bombing of the Twin Towers in New York; died on the day (1/8/2011) of the tragic shootings in Tucson, Arizona.
All of us - we should do everything we can to make sure this country lives up to our children's expectations. Obama quote
Obama Arizona Speech: 'I Want America To Be As Good As She Imagined It'
The story of Little Man
(Mr. DeVoe)...I have been waiting a very long time to get to the beginning
of my story...I had no idea when I started the hip hop above that I was in labor
nor did I have any idea that I would birth at your feet...
I feel tired and ecstatic.... my little man...he is that redundancy...a beautiful baby!
as they all are...inside their tiny little bodies ...thanks be to God...and bless you Father DeVoe.
May you and your family be always enveloped with God's grace. Amen
tis U who should B writin a book ... and i not gven 2 kssem up...i try my hand at hip hop styl b cuz i typ w 1 fingr...i not jiv...1 phd, 1 ma, couple ba..nvr lrn 2 typ...did use 2...now w Parkinson i b usin 1
...last 3 mo i write on 5 of my own web sites, an have +250 friends, my 17 son lives me ...& of course thse 12 pigeons in my pear tree
...some site titles: lot of money good until it isn't...fish R jumpin...higher & higher...my country tis a vie...and, pulse ck...
2 C U can go 2: http://spirit-in-sky-paul-4.blogspot.com/ but back 2 my main point...
what you did/do with family is a blazin' torch in an ocean of darkness...do not hide it under a basket...i hlp if askd....
START STORY HERE I will close with my thoughts in a form that I do know how to use... I spent my life communicating in the accepted style and I can tell the truth or I can spin it with the best in the business...whether the best be in politics or marketing...
information is always the first causality of war. Now with photo altering (or enhancement if one prefers) the already invisible line is both false and "big mistake, when you write here never stop to think what it is you wish to say or they "THEY" will kick you off...
false and real. This next election will come to pass with your help or without it. I did, do & will support Barack but I am and have been a non-party kind of guy. I seldom seem to be on a track where there is much traffic, if you get my drift. "Why look honey our boy is the only one in-step."
Let me make you and , may I, Jackie, be the poster parents that my story telling can use to connect people together. It is the truth that my Lord allows me to hang on to....we are all of the same Father...we all wish to be connected to family as we know it. For myself that is with and through GOD's grace and the Holy Trinity ...the Father, the Son and the Holy Spirit...amen.
I refuse to allow this computer to determine when I am done.
So, a story: .
It seems there was once a nice young man who appeared to be carrying the weight of the world on his shoulders. So much so he soon was referred to as little man. Well, when little man was very little, his gentle and loving parents brought him over to the place they were told was close by.
So it came to pass that little man was baptized at St. Charles Catholic Church in San Carlos, CA the first day of August, 1943.
three months old at the time, little man felt it was fine with him.
lucky for you...I just lost the story re: intervening 66 years...not much to be missed, but back to conclusion...
place: sister Church to mine
which is St. Theresa in Palm Springs, CA (perhaps you saw Cher's eulogy to Sonny Bono; his Church also).
Date: May 15, 2010.
Occasion: The Sacrament of Confirmation.
Quoting, "Paul J. Servelle, received and sealed with the gift of the Holy Spirit."
…and so it came to pass that little man found his true way home.
The beginning of spirit-in-sky-paul.
