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Jamie Dimon San Miguel de Allende It’s a dogpile now, so I feel totally justified in saying “I told you so” for the umpteenth time after years of being a Cassandra about the damage that Jamie Dimon, JP Morgan Chase CEO, and his bank had done to the country by bullying the Treasury Department and [...] New Orleans Finally the fog is lifting around state and federal foreclosure modification programs and the real program is clear. In the way of acronyms and abbreviations that abound in such programs like Fannie Mae and Freddie Mac, the largest of the mortgage guarantor agencies, the real program is called “No-Mo,” which stands for No [...] Mortgage & Housing Crisis New Orleans I’m going to keep this short and sweet, and the message will be clear. The economy in the USA is showing some signs of improvement. More jobs are coming into the statistics. The President is getting a bounce in his step. This is all good news. Obama will have trouble [...] New Orleans – In one of the many articles on yet another multi-$100 million settlement, one story, almost in an aside, stated that the purchase of Countrywide’s assets by Bank of America, was “one of the worst deals ever.” The price tag for Bank of America has been billions. This settlement with the Justice Department [...] New Orleans For not months but years, we have argued for principal reduction as the only realistic response to the foreclosure and homeowner crises in housing, and I have been clear that the main obstacle has been the collaboration between the banks that don’t want to reduce their balance sheets to reflect reality and the [...] New Orleans Even though many economists are forcefully arguing that we cannot get out of this recession unless we finally realistically and aggressively address the home mortgage and foreclosure crises, President Obama through executive fiat continued down the same path that has been such an abysmal failure thus far. The program the President announced would [...] |
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