I will repeat it until I am blue in the face. Foreclosures are NOT the problem. They are the solution. Read the comments to this NYT article and you will see hundreds of others make this point very clearly. Home prices are still over-valued relative to incomes. Foreclosure prevention without massive principal reduction only delays the inevitable, later foreclosure. The editorial above completely misses the mark.
Alt-A Loans: Second Wave Of Foreclosures Ahead
More Public Pension Abuses: San Diego Style
Public-Employee Pension Data Must Be Open
Stiglitz and Chanos Discuss Short Selling and the Market
Michael Moore Asks The Goldman Question
Skip all the way to the end of the last paragraph for Moore's question for Blankfein.
Banks Try to Stiff-Arm New Rule
If a sub is required, use this link and then click the top result. Never a sub through google.
Inside Scoop On Bank's Efforts to Defeat Fair-Value Accounting
James first brought this to our attention. Alan Grayson addressed Shelby's bill this week and seemed pleased, so I'm not going to worry yet that it's being diluted.
Funny Link: Be Careful What You Buy At The Convenience Store
Just some things I've been reading this morning. Will probably add more later.