Unstructured Finance

UF Weekend Reads

September 14, 2012

So it appears Uncle Ben a/k/a Fed Reserve Chairman Ben Bernanke finally gets it:  to fix the U.S. economy, you need to fix housing. The trouble is the Fed’s remedy of buying $40 billion worth of mortgage backed securities each month may  not do the trick.

Will FHFA opposition to principal reductions boost eminent domain efforts?

August 1, 2012

By Matthew Goldstein and Jennifer Ablan

There’s nothing surprising about FHFA head Ed DeMarco’s decision to nix the idea of writing down some of the debt owed by cash-strapped homeowners on mortgages guaranteed by Fannie and Freddie. DeMarco, whose agency regulates Fannie and Freddie, has been a consistent opponent of principal reductions–something we pointed out last October in our story on the need for a “great haircut” on consumer loans and including student and mortgage debt to stimulate the economy.

UF Weekend Reads

April 21, 2012

Nice weather today in NYC. Enjoy it today before Sunday’s deluge. Here’s Sam Forgione’s picks. You can now follow Sam on twitter @samuelforgione

Bad data?

December 3, 2011

By Matthew Goldstein

The jobs situation is still pretty bad in the U.S. and the nation has a long way to go to make up for the millions of jobs lost during the financial crisis. But today’s job’s report and recent revisions point out that maybe things aren’t as bad as everyone feared just a few months ago.

Wall Street protesters just want to be heard

October 4, 2011

Early morning at Occupy Wall Street

Updated Oct. 5

By Matthew Goldstein and Jennifer Ablan

There’s been a lot of talk that other than rallying against bankers and corporate greed, the message coming from Occupy Wall Street isn’t a clear one. And many of the college students, artists, unemployed, transients who’ve set-up camp in a concrete plaza in  lower Manhattan wouldn’t disagree with that assessment.

Who changed the financial crisis narrative?

August 14, 2011

By Matthew Goldstein

So riddle me this: How did we go from blaming “banksters” for all our financial ills to now casting teachers, cops and firefighters as overpaid government slackers who are keeping an economic recovery from picking up steam?

Jobs and housing

June 3, 2011

By Matthew Goldstein

The jobs picture in the U.S. just got markedly worse based on the May unemployment report. And as long as job growth remains sluggish, anemic, pathetic–insert your own adjective–the housing market will remain in the dumps as well.

Check Out Line: June jobs data disappoint

July 2, 2010

USA/Check out the latest batch of grim data about the U.S. job market.

U.S. employment fell for the first time this year in June, renewing concerns about the strength of the U.S. economic recovery.

Check Out Line: Sam’s Club outsources, sheds 10 percent of jobs

January 25, 2010

samsCheck out Sam’s Club cutting 11,200 jobs or about 10 percent of its workforce as it outsources in-store product demos and sheds jobs for recruiting new business members to its warehouses.

General Motors staff has IPO dreams

November 17, 2009

CHINA-AUTOS/Ever wonder how General Motors is holding onto its top talent? 

After a traumatic bankruptcy and series of federal bailouts, the company still owes billions of dollars to the U.S. and Canadian governments. It lost $1.2 billion in its latest quarter, and only sees a slight uptick in auto sales next year.