Getting Veteran Voters on Board
…the Red Team called an “existential threat” is based on the personal bio—and, hopefully, post-January portfolio—of Harris’s running mate. Before becoming governor of Minnesota, Tim Walz was an Army National…
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Fannie and Freddie: Single Family Serious Delinquency Rate Ticked Up in August
…forbearance are being counted as delinquent in this monthly report but are not reported to the credit bureaus. For Fannie, by vintage, for loans made in 2004 or earlier (1% of portfolio),…
Student Loans: Republicans Back Plan to Give Some Borrowers Extra Money
…in 2024 following a year-over-year (YoY) decline in 2023. Additional Information Federal Student Loan Portfolio | Federal Student Aid Table of Contents Student Loan Debt Portfolio-by-Age.xls Student Loan Debt Portfolio…
U.S. residents’ foreign financial assets and liabilities
…All major investment categories of assets increased in the second quarter, led by increases in portfolio investment and direct investment assets. U.S. liabilities increased by $4.16 trillion to a total…
Whiny Apple Pioneered Avoidance Strategies, Books Fictional Tax Rates
…profits being due to U.S. operations. A more realistic 70% allocation of profits to the U.S. would mean that Apple’s federal tax bill would be $4.8 billion higher, according to…
The Mortgage Loan Foreclosure Mess: Yves Smith on the Banks’ Gluttony; Problems with MERS and Sloppy Securitizations
…tiering of REMICs results in a final allocation of mortgage payments that may differ considerably from the initial allocation in the first-tier REMIC, servicer and trustee actions are taken under…
What is a Good Approximation ?
…one should believe that, for practical purposes informational efficiency implies allocational efficiency. The problem is that approximate informational efficiency does not imply approximate allocational efficiency. This is a well known…
Responding to Kling responding to me.
…Washington–hence my remark about “central planning.” I think that a stimulus that allows the private sector to figure out resource allocation (my preferred approach being a cut in the employer…
Baucus Will Not Run in 2014 (yay!)
…allocation of resources to the extent that resource allocation is handled through tax expenditures in the Code, reasonable rules to ensure that the most sophisticated taxpayers pay their fair share,…
Zombie Companies Live!… thanks to QE
…Accommodative monetary policy “distorts investment decisions”. It “subsidizes certain forms of activity”… “In the long-run you get an inefficient allocation of capital”. He talks about how low interest rates distorted…