Analysts are predicting Florida’s condo collapse will “drag the rest of the state into recession. Other experts scoff at that notion. But nearly all agree grim times lie ahead” for the future. Many have bought in the idea of making easy money flipping condos. Reality is “Orlando has 4,440 condos listed for sale; [...]

The complete article can be found at:
http://www.msnbc.msn.com/id/20464621/
Pam

Credit card companies have reported that they have written uncollected payments of 4.58% during the first half of 2007. This is 30% higher than the same time period of 2006. Analysts said this is related to the subprime mortgage crisis and consumers being unable to “roll their mortgage debt into new and cheaper [...]

We live in an unusual time as far as the economy is concerned. Example 1: the Federal Reserve has injected a total of 120.5 billion into the US economy in the last two weeks. (Here is an article about the latest injection of 17.25 billion: http://www.breitbart.com/article.php?id=070823142033.tdr8v597&show_article=1 .) The Fed has also cut [...]

“Foreclosure filings rose 9 percent from June to July and surged 93 percent over the same period last year, with Nevada, Georgia and Michigan accounting for the highest foreclosure rates nationwide, a research firm said Tuesday.”
…
The national foreclosure rate in July was one filing for every 693 households, the firm said.
“While 43 states experienced year-over-year [...]

An Illinois based cash fund, Sentinel Management filed for bankrutpcy on Friday after a Judge blocked its attempts to sell assets to another fund.
“Sentinel, based in Northbrook, Illinois, a firm that oversees $1.6 billion, stopped the withdrawals Tuesday, prompting the brokers Farr Financial and Velocity Futures to sue.
Farr claimed the freeze blocked access [...]

There is some other less reported but important action that the Federal Reserve has taken. If you will review the quote below from the book Conquer the Crash, you will see that banks are generally reluctant to utilize the Fed’s “open window” but that is exactly what the Fed is encouraging.
“Discount Window
Today’s action also [...]

Although no one has asked what I have been reading this summer, I will share it with you anyway! I heartily recommend both of these books. The first one is The Devil in the White City, Murder, Magic, and Madness at the Fair that Changed America by Eric Larson. It is the [...]

In the turmoil of today’s markets, there is an ongoing debate about whether a fund is being bailed out or is a parent company simply injecting new money. Liz Moyer has written about this subject in Forbes.
“Goldman (nyse: GS http://finapps.forbes.com/finapps/jsp/finance/compinfo/CIAtAGlance.jsp?tkr=GS - news http://www.forbes.com/markets/company_news.jhtml?ticker=GS- people http://www.forbes.com/peopletracker/results.jhtml?startRow=0&name=&ticker=GS) injected $2 billion of equity into its [...]

Claiming the “extreme changes in the market conditions, coupled with the rapid decline in the secondary mortgage market” led to the bankruptcy filing on Monday. Aegis is a Houston-based, “full-service residential mortgage company that had lending operations in 49 states and office in 24 states.”
“On Aug. 6, the company that dealt heavily [...]