Links
JPMorgan Pitches Interest-Only Mortgages to Boost Obama Plan - Banks will push the Obama administration to expand its mortgage-modification program to allow interest-only periods on reworked loans, seeking to bring more homeowners into the initiative while recognizing concern that it may only postpone defaults, according to JPMorgan Chase & Co.
Next Wave of Banking Crisis to come from Eastern Europe - European banks face an entirely new wave of losses in coming months not yet calculated in any government bank rescue aid to date.
Happy Days Are Here Again – Time to pop the champagne, everybody! JP Morgan Chase has reported 3.6 billion in profits and CNBC’s beloved Dow Jones has gone over 10,000. Everything’s hunky-dory, right?
Barney Frank, Predatory Lender – Almost two-thirds of all bad mortgages in our financial system were bought by government agencies or required by government regulations.
First hard stimulus data finds 30,000 jobs saved or created - The first direct stimulus reports showed that stimulus contracts saved or created just 30,083 jobs, prompting more Republican criticism of the $787 billion package.
Chamber of Commerce Says Private Sector, Not Government, Will Create Jobs – The government can support a few jobs in the short-run, but over the long-run only the private sector, powered by free enterprise, can keep America working
