Browsing Tag

mortgages

IndyMac: Another Banking Bankruptcy

See my list of Bankrupt global financial institutions for past news on IndyMac and other bankrupt financial institutions.This is a very big deal. It seems that the financial crisis has reached fever pitch now. Given the week we just went…

Australia is set for a slowdown

From all accounts, it looks like Australia is set for a wicked slowdown. Four global industrial economies have been protected by commodity prices. They are Canada, New Zealand, South Africa and Australia. This Goldilocks scenario looks…

Australia: housing slowdown?

No one is paying a whole lot of attention to Australia right now because of the massive busts in the US, the UK, Spain and Ireland. But, Australia has had a property boom as well. And this boom looks like it's coming to an end.IN further…

Florida sues Countrywide

From the Wall Street Journal: Florida Sues CountrywideThe Florida attorney general has filed a lawsuit against Countrywide Financial Corp. and its chief executive, Angelo Mozilo, alleging that the company engaged in deceptive and unfair…

GM drops to 53-year low

Wow! I've heard of multi-year lows, but a 53-year low. That's painful. Look, let's not beat around the bush here. GM is in big trouble. They sell many products that people don't want anymore (gas guzzlers), their growth engine is…

Countrywide: California sues too

The suits are piling up. Angelo Mozilo is looking like the new Ken Lay for Washington.California's attorney general has filed a civil lawsuit alleging that Countrywide Financial Corp. engaged in deceptive advertising and unfair…

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