Ex-Marine Fights Freddie Mac to Save His Home

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Peter Dreier: recent report sponsored by bank reform groups reveals that if banks lowered the principal balance on all underwater mortgages to their current market value, it would pump over $70 billion per year back into the economy.

And Now Homeowners

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The two most important features of the administration’s plan to help homeowners are, first, its support for amending bankruptcy laws to allow judges to modify mortgages. This will give homeowners bargaining leverage with mortgage servicers (and give the servicers more leverage with securitized creditors on up the line) to get better terms; and, second, a […]

How America Embraced Lemon Socialism

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America has embraced Lemon Socialism. The federal government — that is, you and I and every other taxpayer — has taken ownership of giant home mortgagors Fannie and Freddie, which are by now basket cases. We’ve also put hundreds of millions into Wall Street banks, which are still flowing red ink and seem everyday to […]

Here Come The Smears

My deep, sincere apologies to The Beatles for turning the title of their wonderfully hopeful song Here Comes The Sun on its head, especially to use it in describing the only tactics left to save the sinking Republican ship SS McCain with Cap’n Palin on the bridge.

From A Dog Named Checkers To The Wholesale Looting Of America

On today in 1952, Republican vice-presidential candidate Richard Nixon went on television to deliver what came to be known as the “Checkers” speech. Appearing on flickering, black-and-white sets across America, his wife seated next to him like the stage prop she’d play for the rest of Nixon’s life, he denied allegations of improper campaign financing.

Who Builds the Economy? Democratic Presidents Do!

by Richard M. Mathews – I wrote recently about how Democratic presidents create many more jobs than do Republican presidents. What about the rest of the economy? I don’t want to talk down the economy as George W. Bush’s team did when he was running for president in 2000. They insisted that the economy was […]

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