Monday, October 27, 2014

Today's links

1---The Fed Is Expected To Pull Its QE Punch Bowl This Week, BI


No More QE?


2--Why stocks keeping going higher; Biderman and Santelli, trim tabs video


3---Banks blackmail USG, WSJ


Policymakers and lenders have said banks are making credit standards tighter than they’d otherwise be due to broad authorities by Fannie and Freddie to “put back” defaulted loans to the mortgage giants. The companies on Monday announced a series of steps designed to give lenders more certainty about when they would and wouldn’t face put-backs, which have cost lenders billions of dollars after the housing bust.


“Lenders believe that too much uncertainty still exists in this area for them to ease their credit overlays,” Mr. Watt said.





--> 4---Cutting Through Washington’s Housing Recovery BS: September New Homes Sales Were Below 1966 Level!  Stockmans contra corner

5--About Those Massive New Homes Sales Revisions: Seasonally Maladjusted Noise, Stockman

6--Investors Resume Rush for Stocks, but Fears Lurk, WSJ

7---Total Home Sales Are At or Above Trend, CEPR

8--The bottom 90 percent are poorer today than they were in 1987, WA Post

Once upon a time, the American economy worked for everybody, and even the middle class got richer. But this story has only been a fairy tale for almost 30 years now. The new, harsh reality is that the bottom 90 percent of households are poorer today than they were in 1987.

This is actually a much more dramatic statement than it sounds. While the Federal Reserve has already told us that the median households is worth less now than it was in 1989 -- that's the household right in the middle -- it turns out that everybody but the richest 10 percent of Americans are worst off. That includes the poor, the entire middle class, and even what we would consider much of the upper class.
Source: Saez and Zucman

Once upon a time, the American economy worked for everybody, and even the middle class got richer. But this story has only been a fairy tale for almost 30 years now. The new, harsh reality is that the bottom 90 percent of households are poorer today than they were in 1987.

9--U.S. Regulators Approve Eased Mortgage Lending Rules, NYT

10--U.S. Loosens Reins, but Mortgage Lenders Want More Slack, NYT

11--The Mortgage Industry Is Strangling the Housing Market and Blaming the Government Dave Dayen

12--Weak Wage Growth Is Bigger Problem for Housing Market Than Student Debt, CEPR

13--Banks Again Avoid Having Any Skin in the Game, NYT

14--Regulators Skin Mortgage Risk Rules, wsj

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