I’m glad Hank Paulson is standing firm on his $700 billion bailout that he’s burdened us with. In his speech today he said that the bailout doesn’t protect every bank from failing. Phew, now I feel better that the $700 billion is not just the first round of drinks, but rather the entire bar tab. I mean, granted, it’s a bender - but maybe it’s like a bachelor party - once in a life time type of thing.

This guest post is from: Constantine von Hoffman, a veteran business journalist who writes the blog CollateralDamage.biz, a humorous look at marketing, business and his dog. If you’d like to submit a guest post drop me an email.

While smaller players fail in the market, the largest banks and mortgage companies grow bigger.

A guest post by new Blownmortgage.com contributor, MG Dungan.  MG has gone from Wharton to Wall St. to real estate to Blown Mortgage. 
Whilst all eyes were upon the Bailout negotiations, there was a little changeroo in the Wachovia rescue package.
According to Reuters on October 3, “Wells Fargo & Co agreed to buy Wachovia Corp. for more than $16 billion, besting a U.S government-backed Citigroup Inc. bid for some of its assets, in a deal that would catapult Wells Fargo to the top ranks of national consumer banks.

Watch this powerful video on “trash outs” the job of cleaning out foreclosed properties for re-sale. It’s a the sad reality of what’s going on on the ground.

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