Leading Rich

Guide to Money, Investing and Personal Finance

16 Feb

Week In Review February 15, 2008 - Stimulus Package Signed, Buffet Bailout, Forclosures Up

This week was a busy week.  We started on the best footing with President Bush signing the $168 Billion stimulus package.  Unfortunately one other headline made a larger impact on the day and that was the House of Representatives grilling of Roger Clemens on the allegation of Steroid Use. Many of the major news organization thought that the headline of someone shooting a needle in his but was more important than the economy.

Buffet Bailout

Warren Buffet with Berkshire Hathaway came to the rescue with a plan to re-insure $800 billion of municipal bonds currently guaranteed by three of the world’s largest bond insurers.

Foreclosures Up

You thought that the foreclosures at Countrywide were under control.  On Friday Countrywide reported that their foreclosure rates doubled in January 2008 from a year ago January 2007.

Writer Strike Over 

On Tuesday the Writer voted to ratify the contract provided to them by the Major studios.  Many striking workers began to get back to work especially with the late night shows, but it will take some time before everything is back to normal.  I am sure there are a lot of negative emotions still in place that will take time to heal.

But the big question is will there be more Reality programming in the 2008-2009 season?  Will the studios and networks rely less on writers.   Also many studios received hoards of scripts before the strike.  How long will it take to go through the stash before needing more?

This entry was posted on Saturday, February 16th, 2008 at 12:20 pm and is filed under 2008 Stimulus Package, Economy, Mortgage, Personal Finance, Real Estate, SubprimeMortgages. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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