Archive for the 'housing' Category
ELLEN TAUSCHER IS A BAD DEMOCRAT WHO WANTS HER CONSTITUENTS TO LOSE THEIR HOMES.
Ellen Tauscher and George Bush: Thick as thieves..
Jane hamsher is RIGHT:
On Saturday I wrote a post about the efforts of former Wall Street investment banker Ellen Tauscher to gut legislation that would allow bankruptcy judges to write down mortgages, something that would stop 20% of foreclosures at no cost to the taxpayers. But banks and [...]
Department of “No DOY”: NY Fed Report on Bankruptcy Reform
The New York Federal Reserve confirms what I’ve been saying for years (WARNING, PDF):
Is it just coincidence that the surge in subprime foreclosures that has rocked financial
markets came right after the bankruptcy reform in 2005 (Chart 1)? Is that surge just about falling
home prices, bad mortgage decisions, and weak economic conditions? No and no. Indeed, [...]
TD Bank, and How They Fucked Me.
I bank at Commerce bank, which was recently eaten by TD Banknorth. The new owners are some of the biggest assholes around, and I will explain why.
Earlier this year, Christina and I discovered our oil tank was about to die, and after surveying our options decided to convert to natural gas. This is [...]
Tent Cities
Foreclosures spur growth of tent cities:
From Seattle to Athens, Ga., advocacy groups and city agencies are reporting the most visible rise in homeless encampments in a generation.
Nearly 61 percent of local and state homeless coalitions say they have experienced a rise in homelessness since the foreclosure crisis began in 2007, according to a report by [...]
Bankruptcy Reform Causes Mother’s Suicide
In 2005, Democrats like Allyson Schwartz, Joe Biden, and many more int eh House and Senate voted for the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, which, among other things, established as law:
* Mandatory credit counseling and debtor education. All potential bankruptcy filers must now undergo credit counseling and [...]
Long Emergency
In comments to Ghost Towns, Alex writes:
To most Americans, large cities are for cultural and sporting events.
Some of them may live in one for a few years after graduation, then
they’re planning to spawn in the burbs.
They’ll go bankrupt before they move into the cities.
He’s probably right: the comment reminded of something Kunstler wrote [...]
Alan Greenspan: Lying Old Man
The New York Times article “Fed Shrugged As Subprime Crisis Spread contains an audacious bit from Alan Greenspan:
An examination of regulatory decisions shows that the Federal Reserve and other agencies waited until it was too late before trying to tame the industry’s excesses. Both the Fed and the Bush administration placed a higher priority on [...]
Guest Post: Kate (Not Your Sister) on the Housing Implosion
Kate (Not Your Sister) is a friend of mine here in Philly. I think we get along so well because we both like to rant.
Kate doesn’t blog (she should), but asked if she could submit a guest post regarding the subprime mortgage debacle and the housing collapse.
I don’t agree with everything Kate says [...]
Mortgages
The New York Times is reporting on the impending mortgage crisis: seems too many loans have defaulted, bringing down with them lenders. People have property they can’t afford to pay for, but that no one can afford to buy.
While real estate prices were rising, the market for home loans operated like a [...]
