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| Economy |
| Massive Relief for Homeowners and Trouble for the Banks |
| 2009-09-22 |
| Posted by:tipper |
| #7 phil_b, You're wrong. Banks don't decide on the volume of credit in the economy, the regulator does. Banks job is to allocate the credit to the most profitable uses, with too much credit being produced it will flow into consumption (and over investment) and thus an inevitable bust will occur. The fact that there was FAR too much credit in the economy was regulated into existence. This will push down yields and thus eliminate profits. |
| Posted by: Bright Pebbles 2009-09-22 18:16 |
| #6 Where were the lawyers when all this was going on? This isn't the normal Left inspired blame game. The banks were negligent and a lot of people deserve to go to prison. |
| Posted by: phil_b 2009-09-22 16:44 |
| #5 I'll give you a hint, high land costs are not generally a public good. This is the economy recovering from a credit bubble. |
| Posted by: Bright Pebbles 2009-09-22 16:01 |
| #4 I suspect that what is going to 'force' the issue is the growing uncollected property taxes facing more and more local governments. They need the money and paper laundering is going to be cut short when the local pols, regardless of the wishes of bankers and developers, finally force sheriff sales resulting in new mortgage papers and holders. |
| Posted by: Procopius2k 2009-09-22 12:24 |
| #3 The author is also a fan of multiple quackisms. |
| Posted by: Bright Pebbles 2009-09-22 11:05 |
| #2 The foreclosure process is a zero sum game |
| Posted by: Bright Pebbles 2009-09-22 10:36 |
| #1 interesting article. Heh! I wish I had one of those loans. What a mess. |
| Posted by: Jumbo Slinerong5015 2009-09-22 06:18 |