Tag: government

July 16, 2012 0

Still More on Credit-Worthiness of Bank Lending in Housing Bubble: Loan Originations vs. True Bank Lending

By News Desk

This is what I stated, adding the words [banks thought]. The email from reader David follows this recap. Five Reasons Banks Extended Credit in Housing Bubble Years [Banks thought] People would pay mortgage loans because they always did [Banks thought] Housing prices would rise sufficiently to cover defaults [Banks thought] Mortgage interest rates to subprime borrowers were high enough to cover risk [Banks thought] Defaults would happen over a long period of time, not quickly concentrated Banks could pass the trash to Fannie Mae and Freddie Mac (without clawbacks for non-performance), and/or loans could be sliced and diced in tranches to investors If any of those conditions were true, then banks were indeed making loans to “credit-worthy” borrowers

July 13, 2012 0

Russia Vs. Wall Street’s NGOs

By News Desk

July 13, 2012 The Russian Duma has just passed amendments to the Russian NGO law. Russian NGOs receiving foreign funding will now have to register at the Ministry of Justice as an “NGO carrying out functions as a foreign agent†, make public their sources of funding by marking it on the materials they distribute, and report semi-annually to the Ministry of Justice on their activities. This law, a great majority of Russians believe, is long overdue.

July 13, 2012 0

Gold Amdst the Dross

By News Desk

Eli, of course, slums.  Among other places he likes to discover the Curry worst, but occasionally gold appears amidst the dross which needs to be washed in the cool waters of Rabett Run (simile abuse for fun and little prophet).  A defining characteristic of the Pielkesphere (TM ER) is a complete lack of self awareness or awareness of anything beyond the third grade level, which lead Judy to ask “So, how do you think Machiavelli would advise the Prince on dealing with climate change?” Robert, teaches It is a sad reality that those that devote a considerable part of their lives to textual analysis are sometimes not very good at it, and that seems to be the case here. Machiavelli did not recommend submission to the whims of Fortune.