New Orleans In a startling unanimous decision, the US Supreme Court overturned an 11th Circuit Court of Appeals decision finding in favor of Bank of America that even bankruptcy protection does not allow underwater homeowners the ability to escape the obligations of second mortgages. The impact of the decision allows zombie banks to continue operating …
Tag: housing
For Banks the Party Never Stopped
Houston Seven years after the wheels started coming off the bank’s mad money train, it seems clear that settlements for mortgage abuse, which is euphemism for fraud, Dodd-Frank legislation, and what should have been the awesome weight of having collapsed the US and world economy and upended the lives of millions, have essentially been water …
Residential Segregation and Upward Mobility
New Orleans Reports of a new study by economists Raj Chetty, Nathaniel Hendren, and Lawrence Katz looking more deeply at the earning records of millions of families who moved to different addresses found that “poor children who grow up in some cities and towns have sharply higher odds of escaping poverty than similar poor children …