Steve Hochstadt: The differences between the policies of Ronald Reagan and Barack Obama are enormous, but both the conservative Reagan and the liberal Obama allowed the giant banks to run the American economy in their own interests.
Walter Brasch: Since you like hunting, and they like hunting, your banker friends will let you buy all the guns and ammunition you want. But, they can’t help you on your health bills, or even lower the insurance premiums and co-pays. And, they can’t do much for that inflated mortgage payment. Or to help you find another job.
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 […]