Credit Crisis
« Previous EntriesMore on the Housing Settlement
Friday, February 10th, 2012According to this morning’s WSJ, banks have reached an agreement over alleged foreclosure abuses (the WSJ’s wording). The settlement is for $25 billion. Details aren’t hammered out but in general, it will… • Provide $17 billion to borrowers at risk of foreclosure. • Offer reductions in loan principal and other assistance to qualifying homeowners. • [...]
AMEN!
Wednesday, December 28th, 2011One thing I have learned over the years is that every decision has consequences. If I choose to spend my entire savings on a new car and then the air conditioner breaks, I have to live with the consequence of spending all my savings on the new car and will have to figure out a [...]
Four Million Foreclosures Are Subject to Review
Wednesday, November 2nd, 2011About 4 million homeowners who may have been improperly foreclosed upon in 2009 and 2010 are getting an opportunity to have their cases reviewed. Whether they will be reimbursed is up to the same lenders who are accused of moving too swiftly to seize their homes. The Office of the Comptroller of the Currency said [...]
John Truman Wolfe’s Interesting Take on the Debt Crisis
Thursday, October 20th, 2011It’s funny how one thing leads to another. After I posted The Secret of Oz last week, I went to check out Bill Still’s website, The Money Masters. It was there that I saw John Trumam Wolfe’s book, Crisis by Design: The Untold Story of the Global Financial Coup and What You Can Do About [...]
Links of the Day for Wednesday, October 12, 2011
Wednesday, October 12th, 2011A rundown of the changes for the iPhone 4s. Here is Walt Mossberg’s take: We ordered my wife one last weekend. Her other iPhone was the 3Gs and was well over 2-years old. I think she’ll be impressed with the new phone. We shall see. Switching gears to the “Occupy” movement… Here is an interesting [...]
GASP! A Bank Helping Its Customers Avoid Foreclosure
Thursday, September 8th, 2011Read this in this morning’s WSJ: For Lender, Foreclosure Has Become Dirty Word. It’s a nice story. It’s also made possible by the fact that the bank is small and it owns 75% of the mortgages it services. That’s the difference maker.
If You Have Twenty Minutes, Watch This Video…
Tuesday, July 12th, 2011My friend, Kirk Kinder, over at Swim UpStream to Wealth posted this excellent video interview with economist Steve Keen. Good stuff… I do think Professor Keen was too easy on the politicians, who created the incentive for banks to do what they did. Other than that, I can’t disagree with anything else he says.
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