I agree with David Dayen and, via block quoting, Adam Levitin – I don’t see why mortgage servicers wouldn’t be equally bound to FHA requirements for foreclosure and HAMP guidelines. But like Duncan Black, I really don’t see why it has to be up to the courts to make this determination. Why wouldn’t Treasury be […]
Entries from December 2010
December 31st, 2010 · Comments Off on Putting Out Fires
December 28th, 2010 · Comments Off on Media Ignoring Unemployment
Jamison Foser at Media Matters: Here’s an indication of the news media’s failure to treat the nation’s persistent high unemployment rate as the crisis that it is: Even when the economy is the leading topic of media coverage, those news reports haven’t focused on the lack of jobs. The Pew Research Center for Excellence in […]
December 27th, 2010 · 1 Comment
Late last week The Financial Times ran a story about a critical account of the Chinese economy published by Yu Yongding, a Chinese monetary policy expert and academic. Yu’s piece was published in the China Daily, a state-run newspaper. While Yu’s brutal critique of how the Chinese government have built, buoyed and sustained their high […]
December 23rd, 2010 · Comments Off on StopServicerScams.com
Check out this petition: http://www.stopservicerscams.com This was recently launched by the folks at Naked Capitalism, along with some other finance blogs. Yves Smith explains: To further the effort to curb servicer abuses, please visit the website, StopServicerScams, and sign the petition. As we have written, and as experts and foreclosure defense lawyers have reported in […]
December 23rd, 2010 · Comments Off on Hayes & Baker on Austerity
Visit msnbc.com for breaking news, world news, and news about the economy Chris Hayes, subbing for Keith Olbermann, talks with economist Dean Baker about the Republican Party’s push for austerity measures at the state level.
December 23rd, 2010 · Comments Off on Fracking Public Servants
This is going to be all about how much executives at the municipal, county & state level can frack public workers. It’s not limited to Republicans – Democratic executives are leading the charge too (see: upcoming state union negotiations in New York and Oregon). Note that in this instance, Prichard, Alabama is going to be […]
December 22nd, 2010 · 1 Comment
This has over 1.3 million views in two weeks.
December 22nd, 2010 · Comments Off on Breaking & Entering, Burglary
Apparently these things aren’t illegal for everyone. Yves Smith writes: The traditional procedures around the transfer of title made the old system virtually fail-safe. Any number above zero is unacceptably high. And “a tiny percentage” across the huge numbers of foreclosures happening across the US adds up to meaningful numbers in real terms. While it’s […]
December 21st, 2010 · Comments Off on Not Far-sighted
On Sunday night, 60 Minutes ran a piece attack public workers and repeating claims by reactionary NJ Governor Chris Christie that public workers are to blame for the large holes in state budgets. Dean Baker absolutely demolishes the CBS piece and Christie’s logic. As is often the case when it comes to the current round […]
December 20th, 2010 · Comments Off on Austerity Soon?
There’s clearly a drumbeat for the solution to all of what ails the American economy to be increasing pain and suffering felt by the lower and working class. It’s not surprising that right wing governors like Chris Christie are trying to convince people that government deficits are caused by public workers making $30,000. Christie is […]