Who is Brad Miller?

Gretchen Morgenson in this New York Times article tells us about this former consumer lawyer turned US House Representative from North Carolina:  “He is worth getting to know, not only because of his deep concern about the foreclosure epidemic, but also because he has made a compelling recommendation to level an exceedingly tilted playing field in […]

Financial Reform

Matt Taibbi wrote another piece for Rolling Stone on this thing they’re calling financial reform.  Here’s an excerpt, with the full article here: All of this is great, but taken together, these reforms fail to address even a tenth of the real problem. Worse: They fail to even define what the real problem is. Over […]

Double Standard on Strategic Default

Again, I don’t begrudge contractual parties re-negotiating their loans.  What I do lament is the double standard where people at cocktail parties (or even braver than tequila drinkers, internet commenters operating in the dead of night from their couches) try to shame homeowners who, largely powerless, and after all else has failed, choose strategic default.  […]

August 17 Surprise?

I’ll believe it when I see it.  This from Reuters (full article at the link): An August Surprise from Obama? Aug 5, 2010 Main Street may be about to get its own gigantic bailout. Rumors are running wild from Washington to Wall Street that the Obama administration is about to order government-controlled lenders Fannie Mae […]

Su Casa es Mi Casa

Mother Jones has a new article on the misdeeds and woes of foreclosure mill extraordinaire, David Stern’s various entities, cutting a swath of destruction across the country…. “I don’t have any confidence that any of the documents the court is receiving on these mass foreclosures are valid,” said the judge. Amid its meteoric rise, interviews […]