California officials are considering joining a multistate investigation of whether lenders have violated foreclosure laws when seizing houses from del...
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However preordained the financial crisis was, it's remarkable how long its architects kept the game going. They managed to sustain the unsustainable for five years -- roughly from 2002 into late 2006.
We first became aware of the "Will-the-real-Michael-Hudson-please-stand-up?" problem years ago when we started getting compliments from friends and colleagues for each others work.
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.
John Carney's New York Times op-ed piece is a tour de force, a paean to nonsensical thinking. He ignores the Fannie and Freddie of the real world. Instead, he goes after the Fannie and Freddie that exist only in his imagination.
CNBC acts as if over-borrowing by U.S. consumers created a global financial crisis. This myth protects Wall Street banks.
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