In the interests of full disclosure and blogospheric transparency, I should admit I was against the TARP program when proposed by the flailing George W. Bush administration in 2008. It seemed a rush job and a chance for the administration’s friends to get painlessly out of an operation they had botched themselves with absurdly risky […]
Recent Reports of Administration’s Efforts To End Foreclosure: “Extend And Pretend”
With midterm elections coming in November, and with the Democrats generally sailing against the political winds, reports about the difficulties and inadequacies of the Obama Administrations project “Making Home Affordable” (MHA) are likely to slacken further the party’s sails. The MHA program was set up in February 2009 as offering “opportunities to modify or refinance […]
Government Announces Plans To Forestall New Wave Of Foreclosures
Jeff Swiatek of The Indianapolis Star (Indiana) reported two days ago that the wave of foreclosures that seemed to have been forestalled in that city is on the verge of swelling again. The report, specific to the Indianapolis region, is all the more chilling when we recall that Indiana (and Maryland) was (were) not deep […]
Banks Back to Profitability (& Bonuses) But Homeowners Still Drowning
The Troubled Asset Relief Program (TARP) likely kept the banking industry afloat, and few doubt the necessity to keep the banking industry solvent for the sake of functioning markets and businesses. The bailout began under the president who encouraged the housing bubble in the first place, and was accepted by the Obama Administration as a […]
Nonprofits Looking for Ways to Bridge Gaps in Funding
More grim news about the economic situation we find ourselves in: The stock market rose by some 28 points on the news that ONLY 20,000 jobs were shed in February (as opposed to 60,000 in January). Our readers are well aware of the situation, of course. And all economics, like politics, are local as we […]