The Untouchables

[Legacy Fan]

Is this shit really happening AGAIN??

 

Fannie, Freddie asked to relax condo loan rules

 

In a letter to the CEO's of both companies, Representatives Barney Frank, the chairman of the House Financial Services Committee, and Anthony Weiner warned that a 70 percent sales threshold "may be too onerous" and could lead condo buyers to shun new developments, according to the paper.

 

sev, now would probably be a good time to put the "result of Republican de-regulation policy" macro back on the shelf for a year or so.

[calfoxwc]

I saw this, Leg, and didn't post it - I thought it had to be a joke.

 

Disgusting. No common sense whatsoever, no ethics...

[Chicopee John]

Well, his favorite song is "Please Touch That", the Al Yankovic parody of MC Hammer's "Don't Touch That".

 

Remember that his boyfriend, an executive at either Fanny or Freddie or Freddy's Fanny, was convicted of running a gay whorehouse right out of good old Barney's Boston apartment/condo.

 

[Mr. T]

here we go again........

 

2009 FDIC Bank Closing Map

by John GaltJune 28 ,2009

 

Being industrious and an insomniac has its advantages. But as a friend said to me a long time ago, you always get plenty of sleep when you’re dead so I decided to take a graphic look at Sheila’s handiwork under the Obamanation and plot the locations of every bank closing thus far this year, all 45 of them. If this catches on in popularity, I’ll add the credit unions next week after the next wave of FDIC closings.

 

 

All information comes directly from the FDIC Failed Bank List.

 

 

 

 

When you look at it like this, you realize this is a pretty weird map. California is well represented but Florida which has been one of the nuclear waste sites for the housing collapse has had only 3 failures thus far in 2009. There has been a lot of discussion about the unusual number of failures in Georgia and the fact that most of them have been around the Atlanta area so I thought a zoom in on the map would be in order:

 

 

 

For those unfamiliar with this market, the majority of these banks were in the “boom” portions of the Atlanta metro area but the one in Commerce, GA is the exception to this rule. Unlike the Midwest, no banks have failed thus far in the rural areas of the Southeast which makes one wonder when not why this will start to occur.