Category Archives: Bankruptcy

Economist Thomas Sowell Examines The Housing Boom & Crash

I’m reading this new book by economist Thomas Sowell — The Housing Boom and Bust. Read On For more than a decade, US newspapers have editorialized that banks are more conservative than they should be about lending money to blacks. … Continue reading

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Hatred Aimed At Banks

Bankers seem to have a sweet deal. No matter how incompetent they are, no matter how bloody minded their business practices, no matter how dumb their decisions and how stupid their loans, they always get government to bail them out … Continue reading

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Hotel Foreclosures Rise In California

More than 300 hotels in California were in foreclosure or default as of Sept. 30. Tourism is way down in the state. Unemployment is way up. Many hotels on the brink are fighting to stay up. The worst is yet … Continue reading

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New Private Funds To Purchase Toxic Assets

The U.S. Congress approved the $700 billion TARP program a year ago but it has yet to be implemented as intended. Initially, the U.S. Treasury planned to buy up to a trillion dollars worth of toxic assets from banks. I’ve … Continue reading

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New Regulations To Promote More Accurate Lending Risk

Credit rating agencies were spectacularly wrong in the past few years when they tried to assess the worth of mortgage-backed securities. When thousands of home owners can no longer afford to send in their monthly mortgage payments, all the fancy … Continue reading

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Public – Private Partnership To Buy Banks’ Troubled Assets

The U.S. Treasury will unveil a plan this week for banks to sell off their troubled mortgage assets. This comes a year after Congress allocated $700 billion for this purpose. The NYT: Treasury officials said that five out of the … Continue reading

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Democrats Considering Shielding Banks From Tougher State Laws

The Washington Post reports that Democrats are considering a bill “to shield big banks from potentially tougher state regulations of credit cards, mortgages and savings accounts.” This approach differs from that of President Obama. He wants to give states a … Continue reading

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What Caused The Housing Boom & Bust?

I’m reading this new book by economist Thomas Sowell — The Housing Boom and Bust. From 2000 to 2005, the average home price in the United States increased by one-third. Millions of Americans began using their homes as ATMs, getting … Continue reading

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William D. Cohan’s New Book: House of Cards: A Tale of Hubris and Wretched Excess on Wall Street

Click here to see the book on Amazon.com. Bear Stearns and Lehman Brothers had huge investments in securities backed by home mortgages, a market with rising defaults and collapsing home values. Unlike banks, which loans out money it gets from … Continue reading

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Thomas Sowell’s New Book: The Housing Boom and Bust

Check out the book on Amazon.com. Economist Thomas Sowell appeared on Dennis Prager’s radio show May 27: Tom: If the results weren’t so serious, all this would make a great Gilbert & Sullivan musical, with all the mutually contradictory statements … Continue reading

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