Posts Tagged ‘Financial crisis winners.’

Inside Job. Must see movie. Very Interesting

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If you truly want to understand how our economy got into it’s current mess, who’s responsible, and where they are now this is a must movie.

It does a great job of pulling together the threads and showing the whole cloth.

Voodoo Economics

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You probably didn’t see the reports that Goldman Sachs is talking to Fannie Mae about buying, at a discount, $1 billion worth of low-income housing tax credits from the government-controlled Agency.
Fannie Mae can’t use the credits because you have to actually earn money to use such an off-set against profits.
Goldman Sachs on the other hand is making profits hand-over-fist thanks in part to the Taxpayer Funded TARP program.
For the nation’s tax collectors the issue might boil down to this:
if we let Goldman buy the tax credits, that means a Wall Street firm that received Bail Out money, will be able to lower their taxes at a time when Uncle could really use the money.
It’s worth remembering that TARP funds were intended to help the Banks re-start making loans to individuals and small business’s.

Who Gains From This Real Estate Market?

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For some people this market is a great oportunity. Obviously the 1st time buyer who thought they had missed the chance to own their own home, but less obviously, the existing homeowner wishing to move up. Though he might get 25% less than a year ago, he will also be able to buy at 25% less on the more expensive home. Selling a $600,000 home at $450,000 then buying a $1,000,000 replacement for $750,000 is pretty sweet. Lastly come the Investors. Individuals and groups of people able to buy at super low prices and either hold for long term income, or fix-and-flip for quick profit.

Wherever there are losers there will be winners. That’s the system we live under.