Archive for the 'News and Economy' Category

Personal Responsibility? In America? For Financial Decisions? Please.

So far, both major candidates for the US presidency have offered to use government power to step in and solve the foreclosure crisis, despite the fact that every step that the politicians have taken so far has proved counterproductive. When did both candidates give up their belief in personal and corporate responsibility? But they are […]

Four Waves of Foreclosure: Subprime, Recession, Option ARMs, and Property Taxes

Many of the commenters the constant bailouts of Wall Street and the banking system all seem to believe that inflating the currency, manipulating interest rates, and providing welfare to corporations will somehow stop the foreclosure crisis and allow the housing and stock markets to recovery. Unfortunately, this is not the case, and there will be […]

Foreclosure Crisis? Then Why Do News Shows Never Feature Homeowners?

Watching the mainstream news media talk about the recession, one would be hard-pressed to find any actual foreclosed homeowners who have been interviewed. Dozens of economists (up to ten at a time on some stations) are featured, while no one who has lost a home or a job makes an appearance. In fact, the bankruptcy […]

Eviction of Tenants After Foreclosure

The group closest to the bottom on the list of politicians’ list of priorities in dealing with the foreclosure crisis have been renters who have made their lease payments on time but face eviction anyway. When a landlord loses a home, renters are typically given no notice for fear that they will stop paying every […]

Seven Documentaries to Understand the US Money System

The US economy over the past year has been enduring a seemingly endless string of collapses and crises. The stock market takes wild swings from hour to hour and property values keep declining even though most people could not get a mortgage loan if they wanted to from banks that have now gone out of […]

Are Foreclosure Rates A Result Of Poor Education?

There’s no doubt that many foreclosures are a result of mortgage brokers not educating their buyers on the type of mortgage product they were buying. Brokers seem to neglect explaining the downsides of adjustable rate mortgages or balloon mortgages, and the huge risks involved. Education involves more than just providing the required pamphlets and […]

The Importance of Taking Your Money to Bail Out Foreign Investors

Most Americans confused at the utter failure of the Wall Street bailout package to address directly the problem of the foreclosure crisis seem to be missing the fact that the bill is specifically designed to bail out financial investment firms and banks — not actually provide help to the people who are unable to pay […]

How the $700 Billion Bailout Will Affect You and Your Family

Now that the House of Representatives caved in to pressure from thousands of constituents angry at having to bail out Wall Street to the tune of $700 billion, the Senate has taken up the arms of the bankers against the will of the people and will be voting on Wednesday on virtually the exact same […]

Why Banks Hate Mortgage Modifications for Homeowners in Foreclosure

With the Big Business Bailout for Billions Act of 2008 being debated and cajoled through Congress, the attention has finally been focused back onto the people being hurt most by the financial crisis — homeowners who were taken advantage of by the Federal Reserve’s cheap money policies during the housing boom. Instead of just rescuing […]

How the $700 Billion Bailout Will Further Hurt American Homeowners

The $700 billion is for the big banks and any other individuals and corporations that the US Treasury deems worthy of receiving the money. The bailout package will affect the middle class and homeowners at risk of foreclosure by making it more likely they will lose their homes.
The government is going to create the $700 […]

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