The number of people living in underwater homes is larger than the number of people living in twenty-two states and the District of Columbia. Underwater homeowners could become an enormous political force.
Put simply, Wall Street has more than recovered while the American people sink further and further away from economic security.
George Lucas, worth $3.2 billion as of 2011, may have ruined his reputation with his fans by creating Jar Jar Binks, but his latest move may be the finest moment of his career.
Suppose you are going to repair your damaged home and your only tool on hand is a roll of duct tape. Your resourceful neighbor points out that you could probably also use a hammer, a drill, and a saw. If you're the FHFA, you tell him, "I can do a better job with just my duct tape, so thanks but no thanks." That, in a nutshell, is the problem with the most recent analysis by this key regulator of the mortgage giants Fannie Mae and Freddie Mac when it comes to adding the tool of principal reduction to their anti-foreclosure toolkit. They've made progress in their evaluation of the costs and benefits of loan forbearance and loan forgiveness, but, somewhat bewilderingly, they appear to be comparing the two as if they were mutually exclusive.
There's nothing hidden about the crisis of black joblessness. The problem is that the black unemployed, like the poor, have no powerful advocacy groups. It's painful, daunting and it's a huge barrier to the nation's full economic recovery.
When it comes to indicators on the recession and its aftermath, both Las Vegas and Nevada are at the top of all the bad lists and at the bottom of all...
High levels of violence have impacted the entire world over the last century. As a matter of fact, all you have to do is turn on the daily news and yo...
When President Obama addresses the nation with his long-awaited jobs prescription, one thing is certain. Any strategy he puts forth now must not only seek to move the needle for the nation as a whole, it must also include specific remedies for the ever-deepening jobs crisis within black America.
With a rate of unemployment for black male teenagers up near 50 percent and what we know about the correlation between joblessness/poverty and depression/suicide, this is a potentially dangerous and deadly moment.
Dealing with the marital home is complicated in our tough economic times. Ten or fifteen years ago when I was doing divorce settlements, one of the m...