In my previous post I discussed some of the risks to various currencies. Now what happens if your local currency is pegged to the US Dollar as it is in Lebanon? Speaking to Lebanese bankers and insurers there seems to be a devout belief that the peg is rock solid. This is surprising given the…
Skyrocketing home prices were ignored by the retired masses. With limited income and huge equity stored in their primary houses, thousands of retired home-ownders in the US and UK dipped into the equity in their houses. photo credit: TheTruthAbout… Banks facilitated this through the creation of home equity release products or “reverse mortgages”. The bank…
Peter Schiff on YouTube predicting the current financial market problems while the experts laugh. Telling.
A comment came in today on an old article about the dodgy lending scheme Rudie Visagie was proposing. The reader “trymore” provides some details of a new deal apparently being run by Rudie Visagie. As I stated last time this gentleman’s name came up, I have no personal interest or involvement here at all. My…
ABSA appears to be restricting the access of equity in home loan accounts that were specifically sold with this feature in mind. Moneyweb’s article on the real estate shocker has already totally nearly 70 comments. What this says about ABSA’s house price index What’s interesting is that ABSA’s house price index has remained positive throughout…
Would you lend money to Country Foods Limited? According to the Z score perhaps you should have participated in the listing in October 2007. Based on their prospectus and audited financial results for the year to September 2007, their Z-score was high within the grey zone, within reach of the coveted “safe zone”. As recently…
American International Group (AIG) fell by more than 30% Thursday as concerns about Lehman Brothers and the credit crunch deepened. This is in spite of many experts claiming (yet again) that with the Fannie and Freddie bailout the end of the credit crunch was in sight. Standard and Poor’s response: On Friday, credit-ratings firm Standard…
Call it what you will, US taxpayers now own Fredie Mac and Fannie Mae. Too big to fail Fannie and Freddie became so large that their failure would reverberate around the US financial sector, and housing market, eventually spilling over into global financial markets and possibly the global economy. Well that’s the theory. This was…
