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With news the embattled mortgage lender Northern Rock is being nationalized by the British government, until it can find a buyer, the question arises whether this is a good move or not?

Analysts at Bear Stearns said that the government's move is positive for the sector. The expected managed decline in the Northern Rock balance sheet should create less competitive mortgage market conditions," said analyst Robert Sage.

Who is this positive for? Certainly not the consumer. Competitive mortgage markets are the best thing that can happen to a consumer. Why should the consumer have to pay higher mortgage rates? Does this analyst think that the government setting mortgage rates is helpful in anyway? Let's not forget that the banks are responsible for this whole mess. Had they actually been careful in their lending practices, we wouldn't be in the mess we are currently in.

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Is Northern Rock's nationalization a good thing? originally appeared on BloggingStocks on Mon, 18 Feb 2008 08:40:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>AsiacCitigroupinthenewsLatin AmericanLatinAmericanmortgage'sNorthern RockNorthernRockRobert RubinRobertRubinRussiaSub-primeUK bailoutMon, 18 Feb 2008 08:40:00 EST<![CDATA[Global economic confidence drops for third straight month]]>http://www.bloggingstocks.com/2008/02/13/global-economic-confidence-drops-for-third-straight-month/http://www.bloggingstocks.com/2008/02/13/global-economic-confidence-drops-for-third-straight-month/http://www.bloggingstocks.com/2008/02/13/global-economic-confidence-drops-for-third-straight-month/#commentsFiled under: , ,

Confidence in the global economy fell for the third straight month in February 2008, as North Americans became more pessimistic about the slowing U.S. economy and its impact on global growth, Bloomberg News reported Wednesday.

The Bloomberg Professional Global Confidence Index fell to 14.3 in February 2008 from 21.0 in January 2008, Bloomberg News reported. Further, although North America respondents were the most pessimistic about economic conditions in their region, Asia respondents were the most pessimistic about the global economy.

Global equity markets have lost more than $6 trillion this year as investors fled financial and cyclical stocks on fears mortgage and mortgage-asset defaults will continue to slow both U.S. economic growth and also restrict access to credit that corporations need to conduct business and expand operations.

Continue reading Global economic confidence drops for third straight month

Global economic confidence drops for third straight month originally appeared on BloggingStocks on Wed, 13 Feb 2008 15:31:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>ABKAmbacAsiabond insurersbond marketbondscredit marketsemerging marketsEuropeGDPglobal economyglobal growthinthenewsLatin AmericanMBIMBIAMiddle EastU.S. economyWed, 13 Feb 2008 15:31:00 EST