Yves Smith discusses New Ruling on Mortgage Putbacks a Potential Huge Win for Banks Even though, for most people, the housing crisis is a thing of the past, the fight over who should bear the cost of sloppy and openly fraudulent mortgage origination and securities sales continues to grind through the courts. We’ve written now […]
Matt Taibbi is succinct on the reported but not final agreement among state AG’s on the mortgage settlement: I think the best summation of the settlement is probably Yves Smith’s, which can be found here. The piece lists the 12 things that suck the most about the settlement. The most painful is probably #12: 12. […]
Yves Smith provides a snapshot of her perception of at least public thoughts from mortgage industry conference participants. It is worth a read. Denial in the Mortgage Industrial Complex I just came back from the AmeriCatalyst conference in Austin, which was a packed two days focused on the state of the housing and securitization market. […]
Yves Smith on the Harry Shearer show concerning the Mortgage Mess is being re-aired this Sunday (see link for times). The transcript for the show is at the link.
by Linda Beale More on the Mortgage Mess As our banking giants engaged more and more in speculation, and as the shadow banking system saw a way to make money off of people’s bad financial decisions by betting against subprime loans, the financial crisis took off. So redressing the problems that caused the crisis shouldn’t […]