$700 billion

Geither to Announce Bailout Plan Monday – Will Credit Start Flowing Again Soon?

by Joshua Dorkin | February 6, 2009

According to the AP, Treasury Secretary Timothy Geithner is set to give a major speech on Monday to outline the $700 billion rescue plan. As a part of any bailout package we’ll see, the government will certainly make some major moves in the real estate and banking space. Meanwhile, real estate lobbyists were pressing the [...]

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Commentary

Shame on Barney Frank – Democrats No Help To Foreclosure Victims Either

by Rob K. Blake | January 10, 2009

I have written here on BiggerPockets extensively on the complete lopsidedness of the banking bailout and how the preference was given early on to helping Wall Street fat-cats over Main Street foreclosure victims. The bailout bill created the Trouble Asset Relief Program (TARP), funded it with $750 Billion of which about $350 Billion still remain [...]

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Commentary

Can Hank Paulson Use TARP Funds To Bail Out Auto-Makers?

by Rob K. Blake | December 13, 2008

So just in case you’ve been living in a cave this week, Congress is struggling to figure out how to bailout the big three automakers. The House passed a bill which died in the Senate late Thursday night. The reports of the bill’s demise reached the White House where it was rumored the Treasury Secretary [...]

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Commentary

Wow! A Great Plan To Rescue Homeowners Facing Foreclosure. REALLY!

by Charles Feldman | October 19, 2008

Every now and then, something comes along when I think to myself: Gosh (well, I would probably use a stronger word, but you get the drift), why didn’t I think of that??? I mean, I would have loved to have been the one to invent, say, the airplane, or television (maybe not television) or soft [...]

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Commentary

Bank Takeover Artists Benefit From TARP Loophole

by Rob K. Blake | October 18, 2008

As we discussed last week, the banking bailout bill is helping mega-bank takeover artists like Wells Fargo, Bank of American and others. As I predicted last week, the Paulson plan to give these predatory banks a direct cash injection to continue their bargain hunting, this week went into full overdrive without a word of dissent [...]

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Commentary

A Solution That Works

by Joshua Dorkin | October 8, 2008

Today, we’ve got an important guest post to share, written by Dan Gilbert, Chairman of Quicken Loans. Last week, President Bush signed into law the hotly debated financial rescue package called the Emergency Economic Stabilization Act of 2008. While this legislation helps stabilize Wall Street and the banking system, it does nothing to address the [...]

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Commentary

Global Economy Melts & Takes Focus Away From Foreclosure Debacle

by Charles Feldman | October 8, 2008

It’s soooooo old news, isn’t it? I mean, all that stuff about people not being able to pay their mortgages and the rising population of those facing foreclosure, is so old hat now. What is really important, after all, is the survival of big banks! At least, it would seem that way from the news [...]

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Commentary

The October Revolution: America’s $700 Billion Bailout Plan Would Make Lenin Proud

by Charles Feldman | October 1, 2008

Of course Congress had to wait till October to pass the $700 billion socialization of the American economy: October is, after all, the month best known for the Bolshevik revolution that brought Vladimir Lenin and gang to power in Russia. How fitting, then, that the Senate and then the House will no doubt approve a [...]

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Commentary

Paulson didn’t see this Meltdown Coming? Huh?

by Rosie Nieto | September 30, 2008

Scott Pelley interviewed Treasury Secretary Henry Paulson on 60 Minutes Sunday night and I thought I was going to blow a gasket. Pelley reminded Mr. Paulson of a quote he said way back in April 2007: “I don’t see sub-prime mortgage market troubles imposing a serious problem. I think it’s going to be largely contained.” [...]

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Economy

700 Billion: Can we handle the truth?

by Rob Powell | September 29, 2008

Greetings from the metropolis of Cedar Crest, NM. Where my weekends are filled with youth football, soccer…and then some. As I yell at my boys from the sidelines to hustle and tackle and kick….the number 700 billion creeps into the forefront of my mind. What in the heck is 700 billion? What can one say [...]

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Commentary

Paulson Rescue Plan: What’s In It & What Dissenters Want In It

by Rob K. Blake | September 27, 2008

We all know by now about the $700 Billion Paulson rescue plan he’s been attempting to stampede through Congress for the last week. But do you really know what’s in it? Do you know what those against it want in the plan before they sign on? What Hank Wants Let’s take a look at the [...]

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