China Swaps US Debt for Equity: All Problems Solved!
Goldman Sachs has announced that its Treasury Dept. has completed a debt for equity swap with the People's Republic of China, effectively solving most of America's problems.
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Looking in the Rear View Mirror: Eight Factors Causing the Housing Crisis and Economic Meltdown
These eight factors caused the current financial debacle: greed, quest for yield, failure of rating agencies, rising housing price expectations, 'pulse and pen' lending, excessive leverage, derivatives and a 'holy alliance' turned unholy.
To serve the public, face essential truths
It's easy to poke holes in the work of elected officials and other policy makers. But all these folks will tell you that governing is exponentially ha...
Homeownership Hope Suspended
Despite promises of relief from the U.S. Department of the Treasury, policymakers, and lenders, our homes are still being foreclosed at record levels....
Memo to AFL-CIO's Trumka
Now that you've submitted a five-point plan to the Jobs Summit (the "official" position of the labor movement), it is time to plan a return-trip to the White House for a less formal session with President Obama.
Hiding Help in Financial Reform
As a result of good, old-fashioned political pressure, the financial reform bill that the House will vote on on Friday has become a dark horse for job creation and housing assistance.
Don't Blame Yourself
Investors love to flagellate themselves. In retrospect, the crash of 2008 seems so predictable. After all, wasn't the housing bubble just waiting to burst?
How to Save the Los Angeles Times, End Rush Hour Traffic, Solve the Housing Crisis (And Not Have to Pay For It)
Two of the most important decisions any of us ever make is where we decide to live and what job we choose to accept. Rush hour traffic, however, proves how wrong we all can be.
The Next Shoe to Drop in Residential Lending: FHA?
With 7 million properties currently either vacant or in foreclosure, the country cannot afford more residential lending mistakes. Caution: former subp...
The Phantoms of Economic Stabilization
Last September, in arguing against passage of the Emergency Economic Stabilization Act that created TARP, I hedged: Government action is absolutely n...
The Destruction Of The Inland Empire
Endless miles of exurban sprawl in the Inland Empire have become manicured ghost towns, with big plastic padlocks on every door and mosquito larvae hatching in every stagnant swimming pool.
America Without a Middle Class
Can you imagine an America without a strong middle class? If you can, would it still be America as we know it?
Shaming the Shameless: Why Treasury's Tactics Won't Stop Banks from Misbehaving
Treasury wants to shame banks into treating customers fairly. But it's a curious approach to reforming an industry that apparently has no shame to begin with.
Those Without a Kitchen
It's always around the holidays -- brainstorming how many baking dishes of Semi Sweet Potato Mash will fit in my oven at one time -- that I try to remember those among us without kitchens.
On the Sovereign Debt Crisis
In a sovereign debt crisis, the central government's debt become so high that everyone knows they cannot possibly tax the population enough to cover their expenses and service it.
Mortgage Modification: What's HAMP-ering Progress?
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...
Why Obama Won't Do What's Needed to Deal With the Mortgage Crisis
In places like Phoenix, 54% of homeowners with mortgages have negative equity. That's about half a million underwater mortgages, more than the combined totals in Texas and New York state, where 10 times as many people live.
Goldman Bans "Last Suppers"; Suspends 1st Amendment!
Editor's note: the following blog post is satire. Reuterz, New York - In swift reaction to recent calls for his resignation, Lloyd Blankfein, Chairma...
There's No Business Like Loan Business
There's a middle ground to be found in letting judges consider facts and circumstances before depriving homeowners of the roofs over their heads.
Mortgage Modification: Bank Bailouts By Another Name?
Tens of millions of US homeowners are now underwater: they owe more on their mortgage than the market value of their home. They are effectively throwing money away every time they make their monthly mortgage repayment.
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