Lehman Brothers and Wamu are trying to go out of business but their shareholders just wont let them. Quoting cnnmoney, ”On Wednesday, Lehman Brothers CEO Dick Fuld offered up a radical plan to save his beleagured firm. Today the capital markets are giving him the thumbs down. The firm’s announcement that it will sell 55% of its money management franchise, which includes Neuberger Berman, and spin off almost $33 billion in distressed real estate securities has clearly been interpreted as “too little, too late.”The stock took another beating on Thursday, falling $3.03, or 42%, to $4.22. “
When is a Chinese Bank going to come in and just buy them both out, or wait maybe it will be the government and our tax dollars. In the meantime I’m going to stick with FHA and support the higher fees they are implementing so I can do my part to prevent a tax increase.
With rates down over 1/2 percent we saw a mini refi boom. Sure didn’t last though as the last 2 days rates were creeping back up. I recommend getting on our rate watch, when rates get to your desired rate, we lock and refi at NO COST.
I want to take a minute to thank our veterans on this special day of remembrance. My heart goes out to the family and friends of the people that were lost on 09/11/01.
