New Orleans In the US we are seven years out from the Great Recession, depending on how you count the pain and mark the scars. Homeowners have lost their homes through 7 million foreclosures in that period. More than 9 million homeowners are still underwater, owing more than the value of their homes now, with the banks, like …
Tag: housing crisis
How Much Puff versus Pay in Proposed JP Morgan Chase Settlement?
New Orleans My goodness, hysteria has broken out among the financial chattering class with the news of a $13 billion proposed settlement between JP Morgan Chase and the Justice Department and Federal Housing Finance Agency over the bank’s handling of the mortgage crisis. The lead editorial in the Wall Street Journal claimed variously that parts …
Dwolla, Lending Club, Housing, and Women Should Block Summers at the Fed
New Orleans It is hard to believe that there is really a campaign in earnest to push Larry Summers as the new Chairmen of the Federal Reserve, and that President Obama seems to be somewhat supporting his candidacy. Admittedly, the other front runner is a distinguished woman, the economist Janet Yellin, is also being targeted …