Mr. John McCorry
Executive Editor
Bloomberg News

Dear Mr. McCorry:

Bloomberg reporter David Evans' piece ("FDIC May Need $150 Billion Bailout as Local Bank Failures Mount," Sept. 25) does a serious disservice to your organization and your readers by painting a skewed picture of the FDIC insurance fund. Let me be clear: The insurance fund is in a strong financial position to weather a significant upsurge in bank failures. The FDIC has all the tools and resources necessary to meet our commitment to insured depositors, which we view as sacred. I do not foresee – as Mr. Evans suggests – that taxpayers may have to foot the bill for a "bailout."

Continue reading "Open Letter to Bloomberg News about FDIC Deposit Insurance Fund" »

Posted 04:19 PM | Permalink | Comments (0)

According to a report by MarketWatch, the U.S. Treasury has established a temporary guaranty program for U.S. money market funds. For the next year, the U.S. Treasury will insure holdings of any publicly offered money market mutual fund, retail and institutional, that pays a fee to participate. President George W. Bush approved the use of existing authorities by Secretary Henry M. Paulson, Jr. to make available as necessary the assets of the Exchange Stabilization Fund for up to $50 billion.

Posted 08:22 AM | Permalink | Comments (0)

Nebraska and Indiana are two of the latest states to look at placing restrictions on how foreclosure investors can operate. If you are an investor in either of these states, you need to pay attention as these bills make their way through the legislative process, because they could affect your business. If you’re in another state, be aware of this trend of consumer legislation and consider getting involved in the political process in your state to protect the interests of legitimate real estate investors and foreclosure specialists.

These bills have been introduced and could change before (and if) they are passed. To learn more about the Nebraska bill, click here. For the Indiana bill, click here.

Jackie

Posted 02:43 PM | Permalink | Comments (0)

Though most people are talking about the Democratic win over Republicans in the recent elections, there’s another issue of interest to real estate investors: eminent domain reform. According to the Castle Coalition, voters overwhelming passed constitutional amendments and initiatives restricting the ability of governments to take private property and give it to private entities for development.

I’m attaching the news release from the Institute for Justice so you can see what happened across the country.

Jackie

Continue reading "Eminent Domain Reform Popular with Voters" »

Posted 05:03 PM | Permalink | Comments (0)