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Archive for June, 2009

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What’s Going to Prevent The Housing Crisis From Happening Again?

Thursday, June 25th, 2009

Interesting article by David Wessel in today’s WSJ about how he believes (and Greenspan too) that the economy can only rebound if housing prices rebound. From the article: For the two-thirds of American families who own their homes, a house is their biggest asset. The lower house prices go, the less wealthy they are and […]

If Mortgage Fraud Occurred, Why Don’t We Prosecute the Offenders?

Wednesday, June 24th, 2009

During the subprime boom, lenders were using “stated-income” loans, which meant the borrower could state their income but no income verification was used. Basically, this type of loan allowed for the borrower to inflate their income and no one would know the difference. Doing so allowed for the buyer to “qualify” for a larger mortgage. […]

Taxing the Hell Out of the Rich Isn’t the Answer

Tuesday, June 23rd, 2009

Read this comment left by AFM reader and commenter, LOL: The middle class is under a massive squeeze: they can’t afford medical care, college for kids, housing, etc. The only reason we have not been in recession since 2000 is due to availability of cheap debt to absorb the rising costs — while at the […]

I Was Right!

Monday, June 22nd, 2009

If you want to read a short book that will give you a pretty good idea of what went on with subprime mortgages, check out David Faber’s And Then the Roof Caved In*. It’s a very good read. As my regular readers know, I have blogged a lot about the subprime mortgage crisis. In one […]

A review of Jonathan Clements’ “The Little Book of Main Street Money”

Thursday, June 18th, 2009

Wiley’s Little Book series is a wee bit confusing in that there’s The Little Book That Beats the Market*, which is a stock-picking book. Then, in the same series there’s John Bogle’s The Little Book of Common Sense Investing*, a book essentially about indexing or passive investing. So, you read one book and say, “That […]

Foreign Demand for U.S. Financial Assets Decreased in April

Tuesday, June 16th, 2009

From Yahoo Finance: Foreign demand for long-term U.S. financial assets fell in April as both China and Japan trimmed their holdings of Treasury securities. The Treasury Department said Monday that net purchases of stocks, notes and bonds obtained by foreigners fell to $11.2 billion in April, from $55.4 billion in March. China, the largest holder […]


Monday, June 15th, 2009

I read this article in Fortune over the weekend and it has me concerned: WE OWE WHAT? The next crisis: America’s Debt According to the article, at our current spending rate, each individual’s share of the debt will be $155,000 in 10 years. Paul Krugman supports Obama’s spending but thinks we need higher taxes to […]

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