AP Lowers the Housing Recovery Bar By At Least

October 20th, 2010 5:54 PM
In a report so riddled with errors, inconsistencies, incompleteness and sloppiness that it's really hard to know where to begin, Associated Press real estate writer Alan Zibel couldn't even keep his housing recovery benchmark remotely consistent with what it was only a month ago. The Census Bureau's September release of information about August housing starts and building permits informed the…

As Freddie Begs for More Cash, AP's Zibel Perpetuates Fannie Mae/Fredd

August 10th, 2010 3:28 PM
There are quite a few shaky assertions in Alan Zibel's Associated Press report yesterday about Freddie Mac's latest quarterly loss ($6 billion), its latest bailout installment request to the U.S. Treasury ($1.8 billion), and the cumulative taxpayer bailout amounts that have been paid out to Freddie Mac and big sister Fannie Mae thus far ($148.2 billion) -- too many to cover in a blog post. So I'…

AP: June Private-Sector Employment May Contract

June 17th, 2010 3:55 PM
It seems that when they saw today's today's disappointing unemployment claims report from Uncle Sam, the Associated Press's Alan Zibel, perhaps with the help of contributors Jeannine Aversa, Martin Crutsinger, and Tali Arbel, decided to start playing the expectations game with June's Employment Situation Report, which isn't due to arrive from the Bureau of Labor Statistics until July 2. If so,…

Friday Debt Dump, Part 1: Shhh -- Fannie Mae Lost $72 Bil in 2009, Nee

February 27th, 2010 11:14 AM
After the closing bell on Friday, just in time for everyone to stop paying close attention, mortgage behemoth and ward of the state Fannie Mae ("Fan") released its fourth-quarter and full-year financial results. Its press release (PDF) informs us that its $74.4 billion loss in 2009 (inclusive of dividends paid to the government) followed a $58.8 billion loss in 2008. For those keeping score at…

AP Publishes Columnist's Rip At Govt.'s Permanent Break for Home Relie

January 4th, 2010 12:33 AM
The Obama administration's Home Affordable Modification Program (known as "HAMP" to lenders and services, and MHA, or "Making Home Affordable" to the general public) is "failing." I only learned this because I looked at the Associated Press's feeds on Christmas evening and saw this headline -- "No consequences for lying borrowers." In an item time-stamped December 25, AP national business…