Housing Crisis

Or how to Make Form Follow Good Intentions in the Foreclosure Crisis

I have a bold new idea. Lets not give taxpayers money to the people who stole money from the banks in the first place. I know, we need people with a little sophistication to rewrite these bad loans. Let's just not use anyone who sold a bad loan to any of these people to fix the problem. That will not be easy. The government is already selling former Countrywide executives, under a deal called PennyMac, mortgages at 38 cents on the dollar. They then recycle them and take both consumers money and taxpayers money in the bargain.

 Or How You Can Massively Destroy Wealth and Profit Twice

Now anyone who knows me for long realizes that I am a bit of a strange creature. I believe that games ought to be played by rules that are fair to all participants. I believe the world works better when markets reward good behavior and punish those who cheat and lie to win. In short, during a long time in the entrepreneurial world of blood guts and glory I have always liked it when the good guys win.

Or if You Imagine it is Easy to Say the Right Thing Inside the Fish Bowl Try it Sometime

Rick Santelli is one of the more soundly grounded guys on the babble box these days. His views are generally measured and defined by his genuine insights into the markets and the economy behind them. He is also a bit more passionate than the run of the mill financial analyst on CNBC. So it was no real surprise when he expostulated dramatically about President Obama’s attempt to fix the home foreclosure problem. Some people then seized on his comments and critiqued them a bit harshly.