Credit Ratings Are Often Underestimated

People know that getting into debt can be a bad thing ... underestimate their credit. They figure that if they aren’t financing a vehicle or looking at buying a new home, then they don’t have anything to worry about. Credit governs interest rates and loan [more...]

Date: 2008-12-08 17:01:07

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3rd Wave of Foreclosure Hits The Jobless

People With Traditional Mortgages Who Have Lost Their Jobs Are Now Facing Foreclosure (CBS) ... up. With a government job, good credit, and a 30 year fixed rate loan on her southern California house, Judy ... swept up are not greedy investors, or people who got in over their heads with bad loans, reports CBS [more...]

Date: 2008-11-29 06:00:20

Help! Poor Black People Are Stealing the Election from Rich White Guys

By Lloyd Hart You may have noticed over the last week the word acorn or to be more exact A.C.O.R.N ... bought all those bad loans (and have an automatic government rescue program to their charters ... practices in minority neighborhoods - a deliberate practice of banks not providing equal access to credit [more...]

Date: 2008-10-11 21:55:03

Does more debt to beat the debt-crisis make sense?

Order my book online from this link The UK newspapers are full of a new $33 billion government-backed debt facility for small and medium enterprises, while in the UAE credit for SMEs remains very tight and 1,500 people are losing ... with big debts and banks with bad loans. How can providing more loans possibly help? At worst [more...]

Date: 2009-01-15 05:17:25

Monday: Bi-Partisan Bank Robbery?

I don’t pretend to understand Credit Derivative Swaps and financial ‘instruments’ and it looks like the people who have been playing with them for ... like the Home Owners Loan Corporation (HOLC) where the government would restructure and refinance bad mortgages from individual homeowners and make them affordable.  The theory goes that if those [more...]

Date: 2008-09-22 12:26:24

“Economics in One Lesson” on government loans and government-backed credit

(LATER: Links weren’t working before. Fixed.) From the Credit Diverts Production chapter of Economics in One Lesson (emphasis mine) ... payment or no down payment whatever is required, inevitably mean more bad loans than otherwise. They force the general taxpayer to subsidize the bad risks and to defray the losses. They encourage people [more...]

Date: 2008-10-22 02:58:26

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