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Housing Bubble

The New Corporate World Order

Robert Scheer | Posted 06.20.2011 | Business
Robert Scheer

It is argued that multinational corporations have the right to arrange their business as they see fit in order to maximize profit. But if that is the case, do beleaguered American taxpayers have to foot the bill?

Senate Panel Slams Goldman Sachs

Reuters | Kevin Drawbaugh | Posted 06.13.2011 | Business

April 14, 2011 12:38:56 AM By Kevin Drawbaugh WASHINGTON (Reuters) - In the most damning official U.S. report yet produced on Wall Street's role...

Laura Bassett

Study: Recession Hit Working-Class And Black Families The Hardest | Laura Bassett | Posted 05.30.2011 | Business

Working class and African Americans families suffered disproportionately in the Great Recession, says a new study by economists at the progressive-lea...

Real Estate Agents Still Haven't Learned Their Lesson

Melissa Terzis | Posted 05.25.2011 | Business
Melissa Terzis

On my first day in my Real Estate Course for Licensees, the instructor listed the basic requirements to obtain a Real Estate Salesperson's license in ...

The Carbon Bubble

Gregory Unruh | Posted 05.25.2011 | Green
Gregory Unruh

The carbon bubble, quite simply, is the constantly increasing consumption of fossil fuels. I call it the master bubble because it drives the growth of every economic indicator, from GDP to corn harvests.

Zero Reserve Banking?

Scott Baker | Posted 05.25.2011 | Business
Scott Baker

Last March, Ben Bernanke wrote: The Federal Reserve believes it is possible that, ultimately, its operating framework will allow the elimination of m...

Wall Street Apologists Need to Acknowledge the Truth

Larry Hirsch | Posted 05.25.2011 | Business
Larry Hirsch

The recently released Financial Crisis Inquiry Report makes it clear that there is enough blame to go around for the financial collapse of 2008. Wall ...

Can We Take Away Alan Greenspan's Pension?

Dean Baker | Posted 05.25.2011 | Business
Dean Baker

Joe Nocera gets most of the story right in his NY Times discussion of the FCIC report; there was gross negligence, greed, and outright fraud -- but this wouldn't have lead to catastrophic consequences if we didn't have a housing bubble.

Ryan Grim

Fed Economist To Greenspan In '05: Discovery Channel's 'Flip That House' Should Cause 'Existential Crisis' | Ryan Grim | Posted 05.25.2011 | Business

In late 2005, as the housing bubble that would ultimately pop and bring down the economy continued to inflate, Federal Reserve economists briefed the ...

Home Value Sinking Fastest At Those Priced Lowest

The New York Times | Floyd Norris | Posted 05.25.2011 | Home

DURING the great housing bubble, it was the least expensive homes whose prices went up the most. And now it is those homes that are suffering the most...

How Sex, Drugs, and Fraud Drove the Financial Crisis

Michael W. Hudson | Posted 05.25.2011 | Business
Michael W. Hudson

Given the current robosigning, document-backdating foreclosure crisis, it's worth thinking about what happens when fraud and recklessness go unchecked. Here it is in the words of Wall Street's finest.

William Alden

Top Economist: Dodd-Frank Does Not Solve Too Big To Fail Problem | William Alden | Posted 05.25.2011 | Business

The Dodd-Frank financial reform law does not solve the problem of "too big to fail," the implicit government protection of large financial institution...

The Subprime Swindle and the Foreclosure Fraud Cover-Up

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

Fraud in the foreclosure process conceals a second, more massive fraud: the astonishing levels of mortgage fraud perpetrated by subprime lenders during the housing bubble.

Ben Bernanke Wants Your Social Security Money

Richard (RJ) Eskow | Posted 05.25.2011 | Politics
Richard (RJ) Eskow

Does the deficit need to be addressed? Yes -- at the right time, after the economy has returned to health. Is the groupthink Bernanke espouses the right way to do it? Absolutely not.

Ben Bernanke's Trifecta of Errors

Dean Baker | Posted 09.10.2012 | Business
Dean Baker

The country is paying an enormous cost for Ben Bernanke's errors. In any other line of work any one of his errors would be huge enough to have someone drummed out of the profession.

How Banks Faked Demand And Made The Financial Crisis Much Worse

ProPublica | Posted 05.25.2011 | Business

Over the last two years of the housing bubble, Wall Street bankers perpetrated one of the greatest episodes of self-dealing in financial history. Fac...

The Senators Who Gave Us 15 Million Unemployed Want to Deny Them Benefits

Dean Baker | Posted 05.25.2011 | Business
Dean Baker

The reason for singling out the Republicans in the Senate, among all the people whose incompetence contributed to the economic crisis, is that they have decided to obstruct the extension of unemployment benefits.

Ryan Grim

Greenspan Wanted Housing-Bubble Dissent Kept Secret | Ryan Grim | Posted 05.25.2011 | Business

As top Federal Reserve officials debated whether there was a housing bubble and what to do about it, then-Chairman Alan Greenspan argued that dissent ...

Barry Ritholtz: Housing Prices Are Still Too High, So Prices Will Keep Falling (VIDEO)

Posted 05.25.2011 | Business

Barry Ritholtz, founder of investment research firm Fusion IQ and writer of the popular blog, The Big Picture, is known for his bearish views -- and t...

Land Sales Lead Recovery in Housing Market

Beth Pinsker | Posted 11.17.2011 | Healthy Living
Beth Pinsker

You still may not be able to find a buyer for your house that sits wilting on the market, but don't be surprised if that large empty tract of land dow...

Foreclosure Signs and Unemployment Lines Reveal Roots of Housing Crisis

Michelle Chen | Posted 05.25.2011 | Politics
Michelle Chen

With foreclosures and job losses engulfing millions of households, the death spiral of negative equity and negative income poses a daunting question for Washington.

Do You Have to Be Clueless About the Economy to Talk About Fiscal Responsibility?

Dean Baker | Posted 05.25.2011 | Business
Dean Baker

President Obama is planning a big show soon that will include a number of experts talking about the need to reduce the deficit. And not one of them saw the housing bubble and the risks that it posed to the economy.

Goldman Sachs Fraud Lawsuit: An Overview Of The Latest News

Posted 05.25.2011 | Business

This morning, the SEC announced that it is suing Goldman Sachs and one of its employees for fraud. Pointing to the 2007 creation of a complicated bund...

Was Bernie Madoff the Exception or the Rule?

Robert L. Borosage | Posted 05.25.2011 | Business
Robert L. Borosage

Were the big banks all knowingly running Ponzi schemes? That's the question that arises from the stunning hearings held this week by the Senate Permanent Committee on Investigations, chaired by Senator Carl Levin, on the collapse of Washington Mutual, the largest thrift failure in the U.S. Faced with looking like fools or knaves, the barons of the big banks -- from Robert Rubin to Lloyd Blankfein to WaMu's Kerry Killinger -- have chosen, not surprisingly, the fool.

Do Business Schools See Why CDOs Are Compared to "Springtime for Hitler"?

David Fiderer | Posted 05.25.2011 | Business
David Fiderer

New reporting offers hard evidence that Magnetar, a hedge fund group based in Chicago, had designed a series of subprime mezzanine CDOs that were all but guaranteed to fail.