Power Failure: Barney Frank Calls It Quits

December 2, 2011

Congress isn’t as much fun without the gavel, so Barney Frank is moving on.

Comments Off

Foreclosure Foul-ups Further Delay Recovery

October 19, 2010

The root of the mortgage crisis is the fact that millions of Americans bought homes they could not afford. To put the crisis behind us, we have to get those people into homes they can afford, either to buy or to rent. In many cases, this means we must allow their former homes to go to those with bigger budgets. The sooner we accept this inescapable fact, the sooner our …

Comments Off

Reappraising The Housing Villains

July 24, 2009

Every summer blockbuster needs a few villains. The U.S. housing finance crisis, now in its third summer season, has had three: lenders, appraisers and speculators. Lenders gave loans too freely to people who could not repay them, appraisers valued homes at more than their true worth, and speculators were greedy gamblers who used borrowed money to pay sky-high prices, hurting folks who needed affordable homes to live in. That was …

Comments Off

Waiting For Life To Go On

June 22, 2009

As the winter’s meltdown recedes, financial markets have gotten over their worries about Armageddon. Now they are waiting for evidence that life really does go on. Most stock markets around the world retreated last week, many for the first time in more than a month, while commodity prices also softened. Meanwhile the dollar reversed course and strengthened moderately. Taken together, these developments point to a financial community that is in …

Comments Off

Sorry, you can not to browse this website.

Because you are using an outdated version of MS Internet Explorer. For a better experience using websites, please upgrade to a modern web browser.

Mozilla Firefox Microsoft Internet Explorer Apple Safari Google Chrome