Tag Archives: economic crash

FHA Sues 131 Individuals For Bad Mortgage Debt

The FHA wants to hold individuals responsible for the global economic crash. Politicians? Nope! People in the finance industry who were played for suckers in the mortgage game. Wall Street played the role of suckers in the mortgage game because … Continue reading

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Cutting The Mortgage Interest Deduction To Reduce The Federal Government Debt

Among the proposals to raise tax revenues is the elimination of the mortgage interest deduction. On the face of it, this deduction seems unfair. Interest rates on student loans or credit cards or car loans are not deductible. What’s so … Continue reading

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Reining In Fannie Mae, Freddie Mac

Fannie Mae and Freddie Mac were given monopolistic powers. As GSEs, they were backed by the federal government. They could borrow money more cheaply than their competition. Fannie and Freddie loosened the standards on the types of mortgage they would … Continue reading

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Book Review: Reckless Endangerment: How Outsized Ambition, Greed and Corruption Led to Economic Armageddon

John Tamny at Forbes is not impressed with this new book. He says it fails to lay sufficient blame for the housing crash at the feet of George W. Bush. What did Dubya do to wreck the housing economy? He … Continue reading

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Should Banks Be Sued For Mortgage-Backed Securities Turned To Junk?

What was Wall Street’s role in the great economic crash of 2008? They principally played the role of suckers buying trillions of dollars of mortgage-based securities. They had no idea what they were buying. Nobody did. Because there were no … Continue reading

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Was Lack Of Government Regulation Responsible For The Housing Crash?

That was a refrain from the mainstream news media over the past four years as the subprime crisis morphed into an economic crash around the world. If the lack of government regulation over the relatively free market United States caused … Continue reading

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Wanna Complain About Mortgage Bias?

This drives me crazy. Bankers are one of the few businessmen who can not invest as they choose. When banks extend a loan, they’re not bestowing a favor. They’re trying to make money. If bankers don’t think they can make … Continue reading

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The Face Of Mortgage Security Fraud

Only one person has been prosecuted for selling mortgage-backed securities fraudulently. How aggressive has government investigation been into the crash of mortgage-backed securities? I’d think that big government would love to hang the economic crash around the necks of Wall … Continue reading

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Capitalism: A Love Story

I’m watching this 2009 documentary by Michael Moore about the 2008 economic crash. It starts with heartbreaking scenes of families being evicted from their homes. Well, I know it feels bad to watch this, but if you don’t own something … Continue reading

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