The Department of Treasury yesterday took a critical step that many of us have been calling for. But just as critical are the steps that Treasury did not take.
The season of holiday specials is in full swing and one stands out as particularly poignant in these economic times. In Frank Capra's timeless fable,...
The Fed needs to go on the offensive and force banks to reduce loans to reflect their real property values -- not the values based on a Wall Street Ponzi scheme that drove up housing costs.
It's estimated that the bonus pool of just one of these big banks would have been enough money to prevent or significantly delay foreclosure for all 2.3 million people who lost their homes last year.
Tens of thousands of American families may remember Christmas of 2009 as the last time they'll spend a holiday in a home they own. Yet 2010 might not look much prettier.
Here in southeast Michigan the recession feels more like depression. The region's unemployment rate is 17% and rising. Already, it is the highest jobless rate of any metropolitan area.
Helping a new generation achieve their dreams begins with strong families bound together through special experiences. That is why holidays are so vitally important.
I challenged USW civil rights committee members to shield the downtrodden in society, to aid those felled by the current economic crisis, to serve as their brothers' and sisters' keepers.
I am an Evangelical Christian. What does that mean? In part, I believe that Christmas, the celebration of Christ's birth, is good news. Not just t...
This article originally appeared on my site Credit Writedowns. Note: Since this post was published, three more banks in Georgia have failed. Read deta...
This article originally appeared on my site Credit Writedowns. AmTrust Financial, a privately held regional bank holding company based in Cleveland, ...
One in seven. That is the astounding proportion of American families in default on their home mortgages. And if we don't take bolder steps soon to get...
The Obama administration has promised a new round of tactics to encourage banks to modify more mortgages. These steps include streamlining the modifi...
In the midst of slow-moving recovery plans, the Federal Housing Administration (FHA) is one of the only rays of light that American families have seen...
Why aren't banks playing the mortgage modification game? We've been told that lenders prefer to modify and/or restructure loans, rather than enter int...
Goldman Sachs CEO Lloyd Blankfein has a lot to be thankful for this year. But among it all, he and other Wall Stree CEOs don't seem especially thankful for the American people.
Since the likelihood of more federal stimulus packages is low -- unless they're called something like a "jobs bill" -- this will mean more pain and an even slower economy.
Not only did being black or Hispanic hurt your chances of getting a decent loan, but simply living in areas with high concentrations of blacks and Hispanics did, too.
While there is legitimate concern over the size of the federal deficit, the threat to the economy of continued high levels of unemployment is more urgent. Unemployment is now the leading reason families are losing their homes.
At 11 am today, fifty Americans from 10 states will gather outside the Department of Treasury to demand that Secretary Geithner summon the same determ...
Whether it is Goldman Sachs' central role in the subprime crisis, handing out hundreds of millions in bonuses soon after receiving a $10 billion taxpa...
