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  • Backlash is a freemarket hoax

    Democrats in my neck of the woods are sympathetic to those who have lost their homes as a result of predatory loan practices. Nation Banks cannot get a free pass, and laugh off state laws. An unregulated, and ''crime free'' zone for National Banks is certainly bad for finanicial markets, consumer credit, and the entire economy. Perpetuating the ...
    Posted to Press Box by richard_lee_morris on May 13, 2008

  • GREED IS THE ONLY SELF-CORRECTING SIN

    Well-Well here we go again the same old line; leading to the same old game with might I say the same inevitable outcome. This is the talking down and the dumbing down of America. It is the wall street magicians old slight of hand trick. How this works is simple: get taxpayers to focus on the retoric; while they are distracted by happy talk, we ...
    Posted to Moneybox by Topflight on April 27, 2008

  • Fix The Housing Crisis

    Somehow, Congress keeps focusing on bailing out the lenders, the home builders, giving them breaks against the losses they incurred by making bad loans. Yet even with a bailout, they will still try to recover those losses from their customers by foreclosure and through draconian collection practices. If a company gets a bailout benefit it must ...
    Posted to Moneybox by misdean on April 10, 2008

  • Fox Watching the Chicken House

    What in the world took the major newspapers so long to smack themselves in the forehead and go ''DUH!'' about the foreclosure and home lending debacle perpetrated by the banks and other lenders? I've been railing about it for months, it seemed flat out OBVIOUS that President Bush and Congress had NO intent of punishing BOTH sides of the equation.
    Posted to Today's Papers by WThomasPayne on March 14, 2008

  • Foreclosures, Ghost Towns and Sorrow

    Heard from a friend who lives in Florida (the state with the second highest rate of foreclosures in the country) that in the Town of Port St. Lucie on the Atlantic coast the courthouse employees are working double shifts, day and night, to process foreclosure casework. I've seen a lot in the media about how foreclosures are ''not that bad'' ...
    Posted to Everyday Economics by ATodd on March 6, 2008

  • Re: The many logical problems of Mr. Landsburg

    You need to get in the trenches and make loans, collect loans, and educate people and treat people properly. But, when Uncle Sam allows mortgage companies to milk ''undisciplined'' applicants, and then the large banks, Citicorp, etc. to buy those loans, and are doing so to make an additonal mint, and then get caught in their own greed, I have no ...
    Posted to Everyday Economics by rhettt on March 4, 2008

  • Re: confusion twice confounded

    ''Those who have put down a substantial down payment will also loose their home.'' Wrong. I have been a loan officer since 1981 and the people who put down large down payments are also the ones who bought what they could afford and are disciplined not to charge endless credit card debt and try to live way above their means and then blow their ...
    Posted to Everyday Economics by rhettt on March 4, 2008

  • The case for foreclosures

    Absolutely. Plus, let the market handle the situation as the car market does. I'm tired of paying for bailout after bailout. We ( our family ) has stayed conservative, purchased what our budget could handle, not what our dreams were with every perk thinkable, saved down payments before buying, and stuck with a budget, and didn't pay credit cards ...
    Posted to Everyday Economics by rhettt on March 4, 2008

  • Compassion not needed - I agree

    As a Realtor, I come across homes going into foreclosures all the time. Typically... 1. Sellers bought the home without understanding that ARMs would mature and drastically change their monthly payments. Put this down to unscrupulous loan officers. 2. Sellers bought the home knowing they could not afford it but decided they would deal with it ...
    Posted to Everyday Economics by vsashikant on March 4, 2008

  • Re: No worse off?

    OK, forget the 20% bit. If you lose your home to foreclosure, you still take a hit on your credit rating. You are still worse off than someone who just rented the entire time. While I agree that some people can benefit from the foreclosure mess, and that it is important to go beyond the simplistic ''look at those poor, innocent people losing ...
    Posted to Everyday Economics by MarylandMD on March 4, 2008
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