Bruce Reilly: 2013 is poised to become the most important year of the subprime aftermath. The five-year statute of repose, the window within which cases are arguably eligible under the Securities Act, will close.
Sharon Kyle: Kamala Harris’ broad smile and “down home” style was gobbled up by the crowd as members of the African American Caucus listened and showed support for their Attorney General.
Peter Dreier: Perhaps because so many Occupiers have recently been evicted from their encampments in cities across the country, they have found common cause with the growing number of American families facing foreclosure.
Robert Reich: Republican leaders are trying to get rank-and-file Republicans to go along with an extended payroll tax holiday — but by paying for it without raising taxes on the very rich.
Peter Dreier: If the Occupy Wall Street activists join forces with the unions and community groups, they could catalyze a massive nationwide movement to resist foreclosures and block evictions.
Adam Eran: The real outrage is that private banks receive far more money than any social safety net program would need, but the proposed cuts impact only safety net programs.
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 […]
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 […]
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.
It is tempting to view the current economic crisis as a problem for Wall Street and Washington, D.C. However, a local resident can learn all that’s needed about the impending financial meltdown simply by standing on the northeast corner of Lake Avenue and Colorado Boulevard in Pasadena, California. From there, the entire crisis can be […]
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.
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 […]