MortgageNewsClips: Bubble Video, US and Oil, Writedown Table, Grace Cheng on RBS, Barney Frank, Kohn Speech, Fraud Arresats, July 1, B of A’s Bid Falls, 10 more News Clips

June 22nd, 2008 · No Comments

Here Comes Another Bubble at youtube Thanks to Calculated Risk for finding this  

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Uncle Sam And Oil - Brian Wingfield - Guess who would win if the ban on offshore drilling is lifted? - … The U.S. Interior Department’s royalty rate for deep-water drilling in the Gulf of Mexico is 18.75%-up from 12.5% two years ago.  … - Forbes

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Subprime Losses Top $396 Billion on Brokers’ Writedowns: Table - Yalman Onaran - The following table shows the $396 billion in asset writedowns and credit losses at more than 100 of the world’s biggest banks and securities firms as well as the $302 billion capital raised in response.  - Bloomberg 

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RBS Predicts Global Market Crash: What’s In It For Them? - Grace Cheng - GraceCheng.com 

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Barney Frank Statement on Countrywide  - “First, this information confirms my view that one of the best things that can happen in our effort to deal with the subprime crisis is for Bank of America to conclude its purchase of Countrywide.” - also has a supportive statment regarding Senator Dodd - house.gov 

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Vice Chairman Donald L. Kohn - Risk management and its implications for systemic risk - Before the Subcommittee on Securities, Insurance, and Investment, Committee on Banking, Housing, and Urban Affairs, U.S. Senate - FED
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Hundreds swept up in mortgage fraud arrests</st