Allco’s Value Getting Close to Zero

Oh oops, another one bites the dust. Terry McCrann of the Herald Sun referred to Allco Finance Group (ASX:AFG) as “Mini-Mac” the other day. What he meant was that the company has similarities to Macquarie Group (ASX:MQG). If we were Macquarie Group, we’d be downright insulted. How are the two similar? Well they’re both leveraged […]

Housing market ‘screeches to a halt’

House sales are down 30 per cent compared with a year ago, with prices expected to fall 5 per cent this year and remain flat for the next five years. That’s the grim prediction from Westpac’s economists who say residential property prices have “screeched to a halt, with essentially zero price movement in the past eight months”. […]

U.S. Housing Stocks Down $2 Trillion

A trillion here…a trillion there…pretty soon you’re talking real money. U.S. stocks are down about 10% so far this year…that’s about $1.5 trillion lost. U.S. housing stock is said to be down about $2 trillion. And losses from subprime, credit cards, home equity lines, rogue traders…and hanky panky…probably add up to another trillion or so. […]

MORTGAGE MELTDOWN

Interest rate ‘freeze’ – the real story is fraud Bankers pay lip service to families while scurrying to avert suits, prison Sean OlenderNew proposals to ease our great mortgage meltdown keep rolling in. First the Treasury Department urged the creation of a new fund that would buy risky mortgage bonds as a tactic to hide […]

The Mortgage Mogul and His Victims

As banks, money markets and stock exchanges convulse over a sinking American economy, we see the folks sprawled at the bottom of the smoking rubble — debt-crushed American consumers. It is they whose reckless or trusting natures enriched so many, at least for a while, and whose troubled loans have sent markets into panic. But […]