How far back was it that bank’s were for the most part deregulated?

By pwsadmin | December 20, 2017 | 0 Comments

Basically 1995 under the Clinton administration. Not only did this start the loaning of money in excess of value, but allowed banks to jump into the securities business. The prime rate was around 7.5%. between 1995 thru 2000. If you recall you probably received many offers from banks and lending intuitions in your mail to refinance your home at a lower interest rate and could get as much as 130% of appraised value. I myself took advantage three times between 2000 and 2004 , refinanced my home at the time at the lowering interest rates. I advised anyone who would listen to not go for taking money out because most of the loan offers were at the rates offered with a 5 year balloon. I believe most people who took the lending intuitions up on these offers never considered this fact and believed the low interest rates would stay steady. Between 2000 and 2002 interest rates had dropped from about 7.5% to 4% the rates stayed pretty much steady until mid 2004 when these loans were starting to come to the end of their 5 year balloons and then the Prime rate started a steady climb from 2004 thru mid […]

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The Presidents Call for Tariffs

By pwsadmin | April 29, 2018 | 0 Comments

I want to express my opinion regarding his call for 25% tariffs on goods from China. First of all, the news media as well as those associated with all the different forms of media that proclaim to be “experts” should bow out of the conversations all together. In the second place, does anyone believe that our representatives in both houses of government would vote or support instantly raising the cost of living for the American Public by 25%?  We may not give them much credit these days or for that matter for years of being able to act like responsible law makers. But this just isn’t going to happen. The president has ulterior motives for suggesting such action in order to get something else accomplished. Whether it’s South America, Europe, or Asia, everyone should just back off from any speculation. Our government is notorious for throwing up smoke screens or outright lying in order to manipulate the US people and foreign governments. I fully expect this subject to fall to the wayside. I’m involved in the importing goods from China and when I’ve reviewed the bills from the freight companies and see generally see 5% or less duty charges. I […]

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