Bernanke pours cold water on Mortgage hopes!

It seems that the end is not yet near as one may have hoped, for according to Bernanke, the mortgage crisis is far from over. For those of you how are wondering who on earth is Bernanke and why on earth should we even bother to listen to him? Well, for your information, Bernanke is none other than the Fed chief and his analysis carries a lot of weight and is much more on the mark than what you or I would have to say on this matter.

According to Bernanke the crisis is far from over and that the government may have to take some more remedial measures to help calm the waters. Of course, the query on every one's lips is what does this mean for us the common man on the street? Well, for one thing, do not go near the stock market for the next couple of days as the market sentiment is quite down and other than that, to keep an eye out on home prices since they are dropping you may actually get your hands on a property that is worth much more than what it is being sold for.

Bernanke wants the foreclosures to be either stalled or written off at least partly as such a move would bring stability to the markets. What ever else that anyone may have to add on this, one thing is for sure, the ride is far from over and that there is more excitement to come!

Paulson urges the senate on stimulus package!

The treasury secretary seems to have his hand full these days as the stimulus package is becoming a hard one to sell. Today saw Paulson urging the senate to consider the stimulus package and let us not forget that it is this package which is rumored to contain tax rebates.
But of course the bigger question as to who is going to actually benefit by such rebates remains an academic question. But common sense suggests that the ones that would most benefit by such rebates would be the big honchos starting from the banks like citigroup to the housing industry. Would the markets respond positively if such a package is passed by the senate? Well, the may but the market needs a continued consumer confidence if it is to rein in the bear and let the bull loose!