Category Credit crisis

Rather than simply absorb losses from trading in the currently tricky, highly volatile market, public pension funds are asking regulators to allow them to invest in “alternative” more speculative ways. This sounds more than a bit like a gambler in…

The number of foreclosures in California is rising too. Last year at this time it was 1,000 a day. Now it’s 1,300 a day. That’s way to many dispossessed people and disrupted lives. Then there’s the property tax revenue and…

The bank paid much of the closing costs too. Realtor.com lists several more Detroit homes for $1. They currently show 17,580 homes in Detroit for sale with a startling 1,693 of them for less than $5,000.

Fed says foreclosures will sweep exurbs next The pattern that emerges from the data is that the foreclosure wave started in the central cities will mostly skip the first-tier suburbs, then hit the exurbs next, Grover said. “It’s like a…

Federal regulators have ordered southern California-based Vineland National Bank of Corona to not accept any new brokered deposits, which are large amounts of money seeking high yield CD gains bundled by a broker from multiple sources. After the announcement by…