Here are questions asked on the FM website this week (some of these were assertions, which I’ve rephrased at questions). Click on the question to go directly to the answer. Did FNMA and the other Government Sponsored Enterprises cause the sub-prime mortgage crisis? Did the Community Reinvestment Act cause the housing crisis? (1) Did FNMA and the …
The current generations of Americans were born to affluence (most of them, that is), and few have any idea how quickly it can all go away. As it did for Latin America — rich after WWII, poor today. Here are three articles foreshadowing a possible future for America. All grim, all essential reading to understand …
A look at America’s future – grim unless we get smart and pull together Read More »
Summary: Consensus opinion has slowly moved from characterizing this as a “subprime mortgage problem” to a “mortgage problem.” That is progress, but we have far to go before they see the full picture: that US households and businesses have too much debt — and that current trends likely will lead to nationalization of our financial …
Slow steps to nationalizing the US financial sector Read More »
