About Eugene's Southwest Eugene

When the dust from the departing helicopter finally settled, America realized that the old "shrubs" of the last 8 years had been replaced with the seeds of new growth opportunities. Secretary of the Treasury, Timothy Geithner will most certainly review the current state of affairs and enact some significant new enhancements.

http://information-security-resources.com/2009/02/10/geithner-appointment-clears-landscape/

"Review the April Fool's Day 2008 Balance Sheet of the American Economy (Unmanageable Loss. Manageable Catastrophe. New Mortgage News, April 1, 2008). It predicts systemic bank failures. That means that it predicts that many banks will fail. This work depended upon approximately three minutes of study and calculation. It has been right in every respect -- except that what was then a wild prediction of losses now seems petite, thin and malnourished. At the time the guess was $2 trillion of mortgage losses. Now the guess is $5 trillion. Five is more than two. The five trillion is now a wild number, but I have walked this way before. Logic is my guide. The madness of crowds I will leave as your option. As you may rightly imagine, with a trillion here and a trillion there, pretty soon we are talking about real money. The money lost is very real now, as is our national bankruptcy. We need to file, but we can't find a good attorney."

http://information-security-resources.com/2009/02/08/financial-cos-dont-cheap-out-on-infosec/

"Talk about a credit crisis: Heartland Payment Systems, a credit card payment processing firm, may have been the victim of the largest data breach to date. The Princeton, N.J.-based firm said Tuesday that it discovered malicious software in its systems that compromised the security of the data traversing its network. It's unclear what data may have been tampered with or stolen..."

http://information-security-resources.com/2009/01/21/isr-news-worlds-biggest-data-breach/

Assume mortgages of half of the eight trillion disappear. So four trillion dollars of mortgages burn and go away and are never paid and are a complete loss and write off.

This means the banks and other mortgage owners are bankrupt to the tune of $4 trillion dollars. So the owners of the mortgages need $4 trillion dollars of new capital to get back to square one.

Continued: http://yourmortgageoryourlife.wordpress.com/2009/01/19/omnipotent-property-depression-historys-ominous-omniscience

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"On Wednesday, December 3, 2008 The New York Federal Reserve website reported that they will begin to purchase Asset Backed Securities (ABS) from failed mortgage giants Fannie Mae and Freddie Mac, as well as the Federal Home Loan Banks.

They also hinted that they will stop there - everything seems to be on the table now, officially. Treasuries and stocks may see direct effects, with outcomes mixed. Initially, the program will concentrate on non-callable, fixed-rate senior benchmark securities such as Mortgage Backed Securities (MBS), but there are indications in the language used that the program may expand to include other ABS such as privately issued MBS (non-GSE), bonds, stocks and other equities.

With this much unprecedented Government intervention in the markets, I find it difficult to apply any models effectively in a predictive fashion. In the long run, I believe will be inflation and devaluation of the dollar - combined with the aftermath of record writedowns, mergers, buyouts, and outright failures that we will see in 2009 - that will be the legacy of these efforts."

http://yourmortgageoryourlife.wordpress.com/2008/12/04/new-york-federal-reserve-opens-pawn-shop-to-buy-up-abs-junk/