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What’s going on: Greece and mortgages

February 10, 2012

There are two very confusing but important issues that you should be paying attention to in the news right now. Luckily, Naked Capitalism is covering this stuff for you (and for me).

First, it’s the mortgage settlement which was agreed on yesterday or maybe two days ago, which sucks in a lot of ways for poor homeowners but not for the banks. To see the top twelve reasons to hate the mortgage settlement, check out this post from Naked Capitalism.

Second, the Greek debt situation is not yet under control, and no matter what they do over there in Europe they can’t seem to admit it. Here’s a Naked Capitalism post from a couple of days ago, coupled with a new Bloomberg article that kind of says how awful that situation is.

I took all our money out of the money market account a few days ago because it’s not FDIC insured and because I really really don’t know what’s going to happen in Europe. Just saying.

Categories: finance, news
  1. JSE
    February 10, 2012 at 9:53 am

    Where’d you put your money? In a checking account? In a garbage bag in the pantry?


  2. JS
    February 10, 2012 at 11:47 am

    Money market deposit accounts are FDIC insured. Money market mutual funds (like you might find in a brokerage account for holding cash) are not. Correct?


  3. S. Carnahan
    February 12, 2012 at 8:24 am

    What can we plebs do about a settlement that stinks foul? Is it at all effective to write letters?

    “Dear AG, plz take note: more perp walks \Rightarrow stronger negotiating position.”


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