I'm intrigued by the Orwellian phraseology that megabanking executives and the mortgage industry have coined to describe their work. They trade, for instance, in "distressed assets."
What's a distressed asset? From what I understand, an asset, like a subprime mortgage, is distressed because it fails to churn out the revenue...
8 Comments | Posted March 9, 2012 | 4:30 PM
An ongoing drama is unfolding: a David versus Goliath tale of sorts that pits a Riverside, California family fighting to stay in their home against the weight of that elephant, otherwise known as "Freddie."
Arturo de los Santos, his wife and four children have already been evicted from their home...
46 Comments | Posted February 29, 2012 | 7:29 PM
He's not Grizzly Adams, nor Bear Grylls, but he has climbed Mount Everest.
At 59, Gary Johnson still projects the energetic aura of an athlete. But these days, the two-time Republican governor of New Mexico and imminent Libertarian Party Presidential candidate has the rumpled look of someone who spends...
225 Comments | Posted February 17, 2012 | 12:56 PM
Let's face it, the dogged Republican quest to find the one "true conservative" is beginning to look more and more like the search for the Holy Grail. It's an article of faith for most Republican stalwarts that there should be some such animal; but, it seems, the voters can't make...
6 Comments | Posted January 31, 2012 | 5:11 PM
In a desperate attempt to claw up his poll numbers, Newt Gingrich has lobbed a bunch of accusatory mortar shells into Mitt's campaign for Sunshine State supremacy. Probably the shell that's created the most pushback is the one with Goldman Sachs painted on its side. It seems that the Massachusetts...

0 Comments | Posted March 30, 2012 | 2:22 PM