Word: mortgagee
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Last week, Sheriff Tom Dart of Cook County, Illinois issued a press release that quickly became news across the country; he was suspending all foreclosure evictions in the area because banks weren't notifiying tenants about their landlord's problems. "These mortgage companies only see pieces of paper, not people...
•Hidden Flaws and the "Reasonable Man" Medieval jurists like Maimonides identified a more specific kind of bad advice. They tackled the idea of the "hidden flaw," which, Levine points out, leads directly to a demand for fiscal disclosure. "If you sell an animal, you had to disclose to the...
•The Bath House Rule An extension of the disclosure concern, Diamond reports, was explored by Jews through the unexpected vehicle of marriage law. The tractate Ketubot in the Mishna dictates that a betrothal is valid only if the bride-to-be has no hidden blemishes that would have disqualified...
Sarbanes-Oxley is not popular among free-market advocates. "I know," says Levine, "people involved in all this will say that they wanted to maximize shareholder value." But he thinks that today's capitalism needs to be a little more bounded in order to protect the possible victims of its...
That difference may be a reflection of Germany's relative tardiness in addressing the crisis and high-profile $68 billion bailout of its Hypo Real Estate mortgage group. It could also reflect the French public's belief that its national penchant for state intervention into private-sector economics will not...