Word: bankses
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RealtyTrac's theory for the jump is that banks are becoming more aggressive in working through their portfolios of bad mortgages after telling the federal government that they would hold off to help stabilize the market. (Read "Four Steps to Ending the Foreclosure Crisis.")
The news about foreclosure rates is also a challenge to bank earnings and balance sheets. If the government could have kept hundreds of thousand of mortgage holders in their houses, banks would keep at least some of the income for the properties. Those same banks now face large write-offs...
The seeming solution would be to make clear to consumers exactly how much their credit cards are costing them. In fact, over the past few decades, there has been a massive push in that direction, from the Truth in Lending Act to the "Schumer Box," which gives a one-page...
Last week, while the financial world was obsessing over stress tests for fragile banks, the environmental and agricultural worlds were watching the results of the Obama Administration's stress tests for renewable fuels. An outgrowth of the 2007 energy bill, the tests were supposed to document whether corn ethanol and...
The economy has moved to the waiting room. There are unlikely to be many very important indicators until July. The rate at which unemployment is rising is supposed to slow. If so, May should be the last month that the figure can rise by more than 500,000. If June...