All Life Is Problem Solving

In my last post, I reviewed Part 1 of Bill Black and Randy Wray’s series on “Foreclosing the Foreclosure Frauds.” In Part 2, Bill and Randy answer three typical objections to their plan: — “. . . while there were some bad apple lenders, much of the fraud was committed by borrowers. . . “ […]

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The momentum building against the continued cover-up of widespread foreclosure fraud by the big banks and their associated agents is a wonder to behold. The progressive blogosphere is afire with posts about the frauds and calls for justice. Just today, Yves Smith at Naked Capitalism had three recent items on the subject. Professor L. Randall […]

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Remember Bill Clinton lying under oath about his relations with Monica Lewinsky? Which is worse, the lie Bill Clinton told under oath, or the lie told by a single robo-signer on a single occasion when she/he signed a foreclosure affidavit perjuriously stating that they had reviewed and verified the information in the foreclosure documents? Does […]

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Ezra Klein did a piece yesterday offering the conventional deficit dove position on deficits and debt. Here’s a commentary on it. Gallup’s survey of voter preferences for closing the entitlement gap is incomplete It suggests the options on entitlements are like a second-grade arithmetic problem: You can either add stuff (tax increases) or subtract stuff […]

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Today I was planning on a post about Quantitative Easing (QE), because it seemed to me that it would never work. However, today, Randy Wray beat me to it with another great post, this time at ND20, reviewing the whole situation in detail, placing it in political context, and explaining why it’s very unlikely that […]

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[Author’s note: This has been re-posted by Joe Firestone (a.k.a. letsgetitdone) on behalf of author Warren Mosler with his express permission. Warren Mosler is currently the Independent Party candidate for the US Senate in CT] By Warren Mosler The latest mortgage foreclosure mess is just another financial crisis. It’s not a real economic crisis- no […]

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On Friday, the Government reported its 2010 Fiscal Year results. Here are some fragments from a “news” article in WaPo by Vincent Del Giudice. The U.S. government posted its second straight annual budget deficit in excess of $1 trillion as lingering unemployment constrained tax revenue. The shortfall totaled $1.294 trillion in the fiscal year ended […]

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The best short characterization of the current banking/foreclosure mess that now threatens us with another episode of “shock doctrine” capitalism is Randy Wray’s. Here it is: We have long known that lender fraud was rampant during the real estate boom. The FBI began warning of an “epidemic” of mortgage fraud as early as 2004. We […]

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Chris Matthews’s Hardball featured a segment where Willie Brown, Joan Walsh, and Chris commented on the Brown/Whitman and Blumenthal/McMahon contests for the US Senate in CA and CT. After watching an exchange between the two CT candidates. Chris shook his head in wonderment and in the midst of some contemptuous chuckles said:

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Mike Konczal is writing a terrific series on the foreclosure crisis. The other day I read Parts 1-3 of it at New Deal 2.0. I recommend it as providing a very clear explanation with some diagrams about what’s behind the crisis, and a discussion of some possible ways in which could represent big trouble for […]

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