Five Lessons on Rightness From Michael Lewis's The Big Short
Herewith, a brief list of the qualities that enabled the guys in The Big Short to foresee the coming financial calamity -- and that can help the rest of us get stuff right, too.
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The Blog
Village Green: "I watched the growth - it's become 'Paradise Lost' for me"
Today’s title comes from Jeff Holm, chair of the Board of Supervisors for Baldwin Township, Minnesota. Baldwin is a rural community s...
What Happened To The White Picket Fence?
In the American Consumer Republic, the Xavier University for Politics and the American Dream's first national survey of the Dream found that the alleg...
To Protect or Not to Protect? The Answer Depends on How You Ask the Question
I will be the first to admit that debates on banking reform don't always leave people on the edge of their seats. But if you have been following the O...
How to Live on $0 a Day: Assessing Your Real Estate Options
Many are now asking themselves the question: "How will I find a new place to live when I have no income, cash or credit rating? Where will I go?" Don't panic. Let's calmly and rationally go over your options.
The Inquisition for Fed Appointees
The Obama administration announced its three picks for the vacant positions at the Fed last week. Not surprisingly, no one on the list was among those who had warned of the housing bubble.
The CDOs That Destroyed AIG: The Big Short Doesn't Quite Reveal What They Knew and When They Knew It
It's been eighteen months since AIG collapsed, and Congress has yet to seriously focus on the most important questions: What did they know and when did they know it?
New Data Shows Loan Mod Logjam Continues
By Paul Kiel, ProPublica. New data released Friday shows that the story for the government’s foreclosure prevention program remains the same: M...
The Truth Behind Foreclosure Crisis 'Recovery': Spotlight on the Shadow Inventory
We currently have a "shadow inventory" of distressed homes looming in this country, which means the current slowdown in foreclosures is a misleading indicator of long-term recovery.
The United States of Foreclosures: A Haitian Story
FORECLOSURES ARE RISING AND NOT JUST HOMEOWNERS AFFECTED; A Haitian Story: Loses Family Home In Earthquake, NY Home in "Bankquake" The financial cri...
Debt: The Third Rail of Journalism
It's now a cliché to say that Americans have been living beyond their means and that the financial crisis was a comeuppance. But it isn't true: 90% are current on our mortgage payments and credit card bills.
The Big Short: Inside the Doomsday Machine by Michael Lewis
"...the powers that be might step in at any time to prevent individual American subprime mortgage borrowers from failing. The powers that be never did...
Five Major Reasons the Economy is Screwed
What other the obstacles that stand in the way of prosperity? What are some reasons we will pull out of this economic mess?
It's Official: The US Housing Downturn Has Resumed in Earnest
The year 2009 was the year of reflation theories and bubble blowing. Theses of "Green Shoots", catching the bottom, and QE reigning supreme...
Reality Check for Bank Investors, Mortgage Investors and Home Buyers
Last week I posted a Bloomberg news article supporting my suspicions that investors are putting bad loans back to the banks at an increasing rate. I...
Still No Recovery in Housing
Housing economist Bert Ely told the conference of business economists meeting in Arlington, Virginia Monday (March 8) that the housing market still hasn't bottomed.
Renting Or Buying: Which Is More Grown Up?
Financial theory tells us that people should diversify their assets, rather than dumping them all in one place (a home). For the majority of Americans, renting might make more sense.
Hard Times Update: Readers Share Tales of Foreclosure Schemes, Mortgage Misfortune
Send Us Your Tips and 'Bandit Sign' PhotosLast month, we put out a call for stories and photos to help document the effect that "Hard Times ...
Obama's $1,000 Homeowner Assistance Joke
The headline is certainly promising. Program Will Pay Homeowners to Sell at a Loss Is President Obama and the administration and Washington in the b...
The United States Can Learn a Trick or Two From Shaun White
If Shaun White's Double Mc Twist 1260 on a twenty-two foot icy half pipe isn't a thrust toward ascension, then what is?
Can't Get A Job? Better Get Used To It
WASHINGTON D.C. -- "Joblessness is here to stay. One current assessment rates the chances a laid-off worker will ever regain his or her income level a...
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