Word: mortgagee
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Even without doing the math, you probably get that the government's financial-rescue effort is failing. The signs are hard to miss. Your friend in finance got pink-slipped. A house sale down the street fell through because the buyer couldn't get a mortgage. A local bank is...
In the experiment, some people were asked to watch the last few mawkish minutes of the 1979 film The Champ, which involves a dying boxer and his wailing boy. Others watched a dry nature clip. Subjects induced to feel sad were willing to spend significantly more money on a sporty...
The most significant trouble with the real estate markets, both residential and commercial, is that the buyers have disappeared. They are not even making "low ball" offers. With real estate sales in gridlock, foreclosures and defaults become more likely. The incentives for owning a home worth much less than the...
But what to do? The only thing observers agree on is that none of the options are savory. Some economists believe we should stick with the current plan, and continue to buy up preferred shares in bank stocks. But a growing number of economists and industry watchers say we need...
The Great Deregulator has thus become a believer in regulation, at least in the messed up mortgage market. That's because the alternative to concluding that the mortgage market is in need of serious reform, Gramm said, is to conclude that financial capitalism doesn't work. And he's nowhere...