May 25, 2009

The Hippo in the Coal Mine

California’s Financial Mess You have to wonder if California’s political paralysis foreshadows the future of the nation as a whole. –Paul Krugman, “State of Paralysis“; The New York Times (5/25/09) Just in case you’ve been enjoying a blissfully off-line Memorial Day weekend, the big story percolating on the leading op-ed pages and blogs at the...
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3rd Wave of Defaults

“Safe” Mortgage Pain Spreads to MN In the latest phase of the nation’s real estate disaster, the locus of trouble has shifted from subprime loans ” those extended to home buyers with troubled credit ” to the far more numerous prime loans issued to those with decent financial histories . . . Economists refer to...
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