New Orleans A billion here, a billion there, and the next thing you know, you’re talking about real money. This is another line on the headstone of the subprime mortgage industry that was such a key player in the Great Recession. News that investors took another unexpected loss of a billion bucks in these tranches …
Month: June 2013
Coming Water Wars, City-to-City, State-to-State
New Orleans Everyone is watching the U.S. Supreme Court for key decisions this term around race, gay rights, and other issues, but their rejection of claims from Tarrant County, Texas where Fort Worth is located in the sprawling metroplex of north Texas, on any water from Oklahoma as part of the Red River Compact, may …
Richmond’s Fight to Use Eminent Domain to Stop Home Foreclosures
New Orleans Talking to community activists this week who are among the sparkplugs behind the Richmond Progressive Alliance (RPA) in Richmond, California, one of the hot topics was the investigation by the city of whether or not eminent domain might force refinancing of houses facing foreclosure that are “underwater,” where owners owe more than market …