Tag Archives: thomas sowell

Economist Thomas Sowell Has Released A New Book – Economic Facts and Fallacies: Second Edition

Here’s the new book on Amazon.com. Dr. Tom Sowell was on Dennis Prager’s radio show today. Dennis: “Are we headed towards Greece [style bankruptcy]?” Tom: “Yes.” “The debt ceiling has not limited debt. It provides political cover for presidents to … Continue reading

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Major Banks Allowing For Mortgage Modifications

Mortgage modification is a great phrase among politicians. They see problems like the foreclosure wave and they want a quick solution. Hey, why not push banks to modify mortgages so that there will be fewer foreclosures? This is phase-one thinking … Continue reading

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Politicians Lick Their Chops At Opportunity To Plunder Banks

Banks are overwhelmed by foreclosures. Banks lose on average $40,000 per foreclosure wrote Dr. Thomas Sowell in his recent book on The Housing Boom and Bust. Banks don’t want to be in the real estate business. They want to be … Continue reading

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Banks Remained Overwhelmed By Foreclosures

According to Dr. Thomas Sowell’s book, The Housing Boom and Bust, banks lose about $40,000 per foreclosed home. Banks do not want to be in the real estate business so they unload foreclosed homes as rapidly as possible. The longer … Continue reading

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Did One Hedge Fund Keep The Housing Bubble Going?

Economist Thomas Sowell points out that the housing bubble in the United States was primarily restricted to certain areas like coastal California with extensive land use regulations, restricting the amount of land available for building. Reduced supply raises prices. High … Continue reading

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A New Rule Threatens The Fragile Housing Industry

What role did Wall Street play in the collapse of the housing industry? They played the role of sucker, says economist Thomas Sowell, because they overpaid for securities backed by complicated mortgage instruments nobody could know how to value accurately … Continue reading

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How To Value Mortgage Bonds

The government mandates that three organizations rate and evaluate securities (stocks and bonds). So we have these impossibly complicated stocks and bonds backed by mortgages. The government forces Moodys, Standard and Poors etc to rate stuff nobody understands. DealBook reports: … Continue reading

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Basic Economics 4th Ed: A Common Sense Guide to the Economy by Thomas Sowell

Stanford economist Thomas Sowell was on Dennis Prager’s radio show today. Dennis: “What role did Wall Street play in producing the current recession?” Sowell: “They played the role of suckers who bought mortgages who weren’t worth what they paid for … Continue reading

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CA Law Makes It Hard To Hire A Lawyer To Help With A Mortgage Modification

Stanford economist Thomas Sowell at the Hoover Institute wrote an important book called Applied Economics: Thinking Beyond Stage One. According to Publisher’s Weekly: “While politicians squabble over the pros and cons of price controls on prescription drugs, onlooking citizens are … Continue reading

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Federal Refinancing Plan Not Worth Costs, Most Homeowners Decide

The Barack Obama administration passed a plan to give banks incentives to modify mortgages. It’s an attempt to reduce the number of foreclosures and to steady home prices. It’s massive government intervention into the free market, the very thing that … Continue reading

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