Bank Crimes: Do the Math

From the Highland Community News on bank crimes and punishments: “Union Pensions Win, Homeowners Lose in ‘Victory’ Against Banks .” Perhaps the biggest winners in the largely tax-deductible $16.5 billion U.S. Department of Justice’s recent settlement against Bank of American was B of A itself, public employee pension funds, state bureaucrats and political hacks. Attorney General Kamala Harris declared the settlement “brings help to hard-pressed homeowners and communities in California.” Read more […]

The Housing Implosion: Here It Comes?

From Money News under the headline: “New Wave of US Mortgage Trouble Threatens Banks. U.S. borrowers are increasingly missing payments on home equity lines of credit they took out during the housing bubble, a trend that could deal another blow to the country’s biggest banks. The loans are a problem now because an increasing number are hitting their 10-year anniversary, at which point borrowers usually must start paying down the principal on the loans as well as the interest they had been paying Read more […]

$313 Million US Funding For Palestinian Mortgages On The West Bank

The housing crisis in America has not ended.  Hundreds of thousands of Americans are still losing their homes because of the bad economy and rotten job market.  Some are losing their homes because of Obamacare.  Their hours and income are being reduced by just over 25% so their employer doesn’t have to provide healthcare benefits. If you are one of those that have lost your home to any of these factors, then the Obama administration wants you to know that they care more about Palestinians Read more […]

Obama Repeating Clinton’s Housing Market Mistake

I’ve said it time and again that former President Bill Clinton is responsible for the economic crisis that began during the end of President George W. Bush’s second term of office and into the start of President Barack Obama’s first term. During the Clinton years, he pushed the mortgage industry into creating a number of risky mortgage programs that would allow more Americans to qualify for mortgages and get into homes.  They pushed the adjustable interest rate mortgages, no interest rate Read more […]

Another Year another Trillion-Plus Dollar Deficit

Obama made some promises about the deficit in the debate he lost so badly to Romney. He told Romney that he had planned four trillion dollars in cuts. He didn’t mention that these cuts were planned out over a decade. And he didn’t mention the ballooning of Medicare costs that everyone knows will expand suddenly after that decade. Obama is trying to sell us a teaser rate to a balloon mortgage. But as we enter Obama’s fourth consecutive year of a trillion-dollar-plus deficit—something Read more […]