Detroit This was going to be an interesting evening: barbecue, beer, and a wide circle of 25 plus people talking about Citizen Wealth and how to built more sustainable organizations and create social movements. Kim Hodge, the director of Michigan Timebanks, had taken the initiative to put the people, party, and dialogue together to link …
Category: Financial Justice
Fannie Mae New Purchase Bar: Bark not Bite
Phoenix OK, let me try and get this straight. Fannie Mae (with its housing finance partner Freddie Mac) is already bailed out to the level of about 200+ billion with some estimates that the final federal bailout bill will hit almost $400 billion, right? Most of that is a transfer of their bailout money over …
Foreclosures Yes, Modifications No
Phoenix The government has a website that publishes the miserable statistics and farcical jokes behind the foreclosure modification programs which is called Making Housing Affordable. Some government wag must have seen the billboard we drove past in Phoenix yesterday advertising new houses with the line: selling at “foreclosure prices.” I guess their idea of a …