Blog entries tagged Congress

Geithner: Careful Who You Listen To

Nick Will — Mon, 22 Mar 2010 20:10:37 +0100

Disregard my grammar, I know it should be "to whom you listen." Sounds weird. More importantly, in comments released by Treasury moments ago about Sec. Geithner's statement today on financial reform to the American Enterprise Institute. Let's hope his words are heeded by Chris Dodd and congress more broadly. Words meet action, please...

Listen less to those who told us all they were the masters of noble financial innovation and sophisticated risk management. Listen less to those who complaRead More...

Sen to Punch Financial Industry in Speech Today

Nick Will — Thu, 11 Mar 2010 15:49:41 +0100

This is welcome news, courtesy of MIT Professor Simon Johnson, a notice that Sen. Ted Kaufman (Delaware) is set to lay down a few tenets that underscore the nation's financial situation. And he's spot on.

According to Kaufman's website, he will say: 1. Excessive deregulation allowed big finance to get out of control from the 1980s -- but particularly during and after the 1990s. This led directly to the economic catastrophe in 2007-08. 2. We need to modernize Read More...

FHA Needs Funds: You Read It Here 6 Weeks Ago

Nick Will — Fri, 13 Nov 2009 00:30:26 +0100

Okay so reading this blog is like getting the news 6 weeks early. Granted, I thought it would make the news at the end of September, and here it is in today's Times:

The Federal Housing Administration said Thursday that its cash reserves had dwindled significantly in the last year as housing prices slumped and many of its borrowers defaulted on their mortgages.

Still, government housing officials stressed that the agency, which insures loans made by private lenders, Read More...

First Time Home Buyer Tax Credit to 04-2010 This Week?

Nick Will — Wed, 04 Nov 2009 12:27:23 +0100

The Seattle Post PI.com is reporting that after clearing a Senate hurdle this week that the New Home Buyer Tax Credit of $8,000 is widely expected to pass congress this week to extend the credit into the spring season of 2010, which would be most welcome across the country. The program essentially creates a refundable $8,000 tax credit for qualified first-time home buyer tax credits (some limitations apply and "first" doesn't always mean "first"). This is very welcome news.