Housing

by John Mauldin They Knew What They Were Selling It's hard to know where to start. There is just so much here. So let's begin with testimony from Mr. Richard Bowen, former senior vice-president and business chief underwriter with…

By William K. Black and L. Randall Wray William K. Black is an Associate Professor of Economics and Law at the University of Missouri-Kansas City. He is a white-collar criminologist and was a senior financial regulator. He is the author of…

This time last year, The Economist’s survey of global house prices was a sea of negative numbers. That was then. Of the 20 markets tracked in our latest survey, only four still posted year-on-year declines and only Ireland’s property…

Chris sees the foreclosure crisis developing into a drip, drip of foreclosed property, unpaid property taxes, and loan losses. In his view, the Obama Administration is in a similar position to the Hoover Administration during the…

by Comstock Partners The current market rally is not based on a self-sustained typical economic recovery, but on blind faith that the Fed can pull out a magic wand and cure everything with another round of quantitative easing (QE2). As we…

Last June I wrote a post on the topic of corporate governance that pointed to one of only two outcomes as the likely result of the bank bailouts. Outcome number one was bank prudence and low credit growth in the face of uncertainty. Outcome…

This is a cross-post from the new economic blog Global Economic Intersection. Ratings agencies have been criticized for inadequately determining risk in the massive collection of debt securities created in the credit bubble.  A second…

by L. Randall Wray, Professor of Economics at the University of Missouri-Kansas City, Research Director with the Center for Full Employment and Price Stability and Senior Research Scholar at The Levy Economics Institute and author of…

Felix Salmon is right.  This is going to be a big, big problem for the financial institutions. A group of investors holding $16.5 billion of mortgage bonds took a step toward a possible suit against a Bank of America Corp unit for…

Note from 19 Oct 2010: It has come to our attention that the substance of this post was originally penned by Gonzalo Lira, who posted it both at his site and at Zero Hedge this time last week. Initially we thought that there was some sort…