Sung Sung
2011-10-29 02:05:19 UTC
3. Bush’s legacy is still hurting economy (10/24/2011)
Some people say that after three years, Obama can’t blame Bush on
economy failure any more. But the housing crisis still hurts economy
and looks like will continue to damage the economy for several years.
The problem he left for this country is huge and long-lasting.
The main expense is to bail out the firms too big to fail, especially
the mortgage giant Fannie Mae and Freddy Mac. The program to help
unemployed, incentive to promote car sale and house sale, program to
help the home owners whose house value now are underwater. Here is the
real expense, that's the real hole you try to avoid of. Three years
after sub-prime loan crisis, the roof is still leaking. Here is the
some recent "leaking" result:
Fannie Mae Posts $8.7 Billion Loss, Requests More Fed Aid
WASHINGTON -- Mortgage buyer Fannie Mae reported a loss of $8.7
billion for the January-March quarter, and asked for an additional
$8.5 billion in federal aid.
http://www.huffingtonpost.com/2011/0..._n_858812.html
Fannie Mae, Freddie Mac Seek $3.1 Billion Amid Improved Earnings
QBy Lorraine Woellert - Feb 24, 2011 9:01 PM PT
http://www.bloomberg.com/news/2011-0...-earnings.html
Fannie Mae needs another $5.1 billion in aid as more loans sour
.Date: Friday, August 5, 2011,
http://www.bizjournals.com/washingto...1-billion.html
Bank Of America To Cut 30,000 Jobs As Part Of Restructuring Plan
9/12/11
Bank of America stock was up 2 cents at $7 at midday. The stock has
lost half its value this year, largely over problems related to poorly-
written mortgages it acquired with its 2008 purchase of Countrywide
Financial Corp. The bank faces lawsuits from investors and regulators
over the sales of mortgage-backed securities that lost value after the
housing boom collapsed.
http://www.huffingtonpost.com/2011/09/12/bank-of-america-to-cut-30_n_958432.html
Three years after the break-off of the housing bubble, it still hurts
economy and causes unemployment.
Some people say that after three years, Obama can’t blame Bush on
economy failure any more. But the housing crisis still hurts economy
and looks like will continue to damage the economy for several years.
The problem he left for this country is huge and long-lasting.
The main expense is to bail out the firms too big to fail, especially
the mortgage giant Fannie Mae and Freddy Mac. The program to help
unemployed, incentive to promote car sale and house sale, program to
help the home owners whose house value now are underwater. Here is the
real expense, that's the real hole you try to avoid of. Three years
after sub-prime loan crisis, the roof is still leaking. Here is the
some recent "leaking" result:
Fannie Mae Posts $8.7 Billion Loss, Requests More Fed Aid
WASHINGTON -- Mortgage buyer Fannie Mae reported a loss of $8.7
billion for the January-March quarter, and asked for an additional
$8.5 billion in federal aid.
http://www.huffingtonpost.com/2011/0..._n_858812.html
Fannie Mae, Freddie Mac Seek $3.1 Billion Amid Improved Earnings
QBy Lorraine Woellert - Feb 24, 2011 9:01 PM PT
http://www.bloomberg.com/news/2011-0...-earnings.html
Fannie Mae needs another $5.1 billion in aid as more loans sour
.Date: Friday, August 5, 2011,
http://www.bizjournals.com/washingto...1-billion.html
Bank Of America To Cut 30,000 Jobs As Part Of Restructuring Plan
9/12/11
Bank of America stock was up 2 cents at $7 at midday. The stock has
lost half its value this year, largely over problems related to poorly-
written mortgages it acquired with its 2008 purchase of Countrywide
Financial Corp. The bank faces lawsuits from investors and regulators
over the sales of mortgage-backed securities that lost value after the
housing boom collapsed.
http://www.huffingtonpost.com/2011/09/12/bank-of-america-to-cut-30_n_958432.html
Three years after the break-off of the housing bubble, it still hurts
economy and causes unemployment.