Posts tagged "banks"

Hey, GOP: Don't screw up the economic recovery.

The good news: Americans have started borrowing again. The bad news: Americans have started borrowing again. Actually, it’s big news, whether good or bad, because it represents a major change in consumer behavior since the economy began tanking in 2008. It means that for whatever reason, borrowers have enough confidence to once again go into... Read more »

Maybe we should stone our bankers and politicians too

Apparently we could learn from Iceland, according to Bloomberg News: Icelanders who pelted parliament with rocks in 2009 demanding their leaders and bankers answer for the country’s economic and financial collapse are reaping the benefits of their anger. Since the end of 2008, the island’s banks have forgiven loans equivalent to 13 percent of gross... Read more »

More on how banks are screwing up the housing market

Banking practices need a closer examination Since my column on Tuesday about how banks are screwing up the housing market, I’ve received some interesting responses with some possible explanations. Banks are holding onto to “under water” property despite reasonable offers from prospective buyers because banks can make money (what a surprise) by doing so. Here... Read more »
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How banks are assaulting the housing market

America’s big banks, among others, that helped send us spiraling into the Great Recession are at it again. They’re warning of even more dire consequences if we don’t follow their advice and raise the U.S. debt limit. In an April 25 letter to Treasury Secretary Timothy Geithner, Matthew E. Zames, a managing director at JPMorgan... Read more »

Feds creating new sub-prime mortgage market

Remember how all those greedy banks were blamed for creating the housing bubble because they too easily issued mortgages to families that couldn’t afford them? And how we all should have learned the lesson of how easy credit caused the recession? Well, get this. The Federal Housing Administration now is continuing the same kind of... Read more »
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