New Orleans Reports from Bloomberg News and the Los Angeles Times are raising the specter of Bank of America filing for bankruptcy for its Countrywide mortgage unit detonating the “nuclear” option to save the parent company and run from the toxic mortgage load bought in 2008. I wonder if this doesn’t finally give another [...]
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subprime mortgage securitization New Orleans On ESPN’s Sportscenter during the seasons they have a feature called “Come on!” in which they feature unbelievable or bonehead plays. We need that in other fields of public life and politics. Reading about the efforts of banks like Wells Fargo and JP Morgan Chase along with the various [...] New Orleans There is no question that Detroit has been an economically troubled city for some time now. Apocryphal, urban legends have grown around this great city of quail and bird counts returning to some areas because they have essentially gone “back to wilderness” due to abandonment and lack of population. Now news of [...] New Orleans President Obama, Secretary Geithner, and the rest of the hapless pickup crew that flubs around in the housing and foreclosure crises came together to “repurpose” yet more of the TARP money that was set aside for home mortgage modifications that might prevent foreclosures and threw $15 billion of the total at some [...] New Orleans The New York Times ran the article on the front page announcing that the “era” is over when a family in the United States could reliably expect their personal residences to appreciate and create citizen wealth. Housing Fades as a Means to Build Wealth, Analysts Say was headline on the email version. This [...] |
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