Subprime Mortgage Lenders Implode-o-meter

The misery in the housing market is registering on the Implode-O-Meter. As millions of homeowners fall behind on their mortgages, a fledging Web site called the Mortgage Lender Implode-O-Meter is gleefully tallying the number of lenders that run into trouble too.

Mortgage Lenders Implode-o-meter.Did you hear about this? There is a forum group that keeps track of which mortgage companies have gone belly-up, out of biz....called Implode-o-meter. They also monitor those lending companies that are on trembling ground....referred to as Ailing/Watch list Lenders. Notably on that watch list is Sallie Mae, a company that bills itself as the nation's leading provider of student loans. (They're not expected to implode, but start paying your student loans off people....so the next generation can get an education!)

Implode-o-meter is an independent source/website who state their standards are more concerned with content, not reputation or resources. But you can bet everyone in the lending business is watching this website. And if you've got a mortgage or are in the loan process you should be watching this list too....and perhaps read the forum comments.

Big Three Bail Out : Ford, GM, Chrysler

US big three : Ford, Gm, and Chrysler are the biggest auto company, with the long lasted history. But now this Detroit's Big Three automakers returned today to Capitol Hill to take another stab at getting $34 billion dollars of your money. Yes, this big three are getting a serious problem, near to bankrupt.

It is still hard for US White house to approve this big three big deal. How come the big company like GM, Ford, and Chrsyler are begging for bailout ?

Washington is engaged in a giant game of chicken with the Big Three automakers, and unless someone swerves soon, Detroit is going to end up as wreckage on the side of the road.

In their first day of testimony before Congress, the chief executives of Ford, General Motors and Chrysler were the picture of humility. Hats in hand, they pleaded for money. "We made mistakes, which we're learning from," GM's Rick Wagoner told the Senate Banking Committee, outlining plans for change that Congress had requested as a precondition for receiving billions of dollars in much needed loans. Ford's Alan Mulally said his company has shifted "in a completely new direction." (See the 50 worst cars of all time.)

Unlike the hearings last month, though, when Congress presented a nearly united, hostile front against the Big Three, the fight Thursday was not so much over whether Washington should let them fail; almost all the witnesses and lawmakers agreed that would be like "playing Russian roulette with the economy," as Senate Banking Committee Chairman Chris Dodd put it. But that didn't mean there was anything like a consensus on how to handle the urgent request for a total of $34 billion in bridge loans — $7 billion for Chrysler, $9 billion for Ford and $18 billion for GM. Democrats and Republicans clearly still have major disagreements about where the money should come from, how much Detroit should get up-front and what kind of conditions to impose for such government assistance.

From left, Richard Wagoner, chief executive of General Motors, Robert L. Nardelli, chief executive of Chrysler, Alan R. Mulally, chief executive of Ford, and Ron Gettelfinger, head of the United Automobile Workers, during a House hearing on Friday.