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...Read More
“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...Read More
