Calculate your site FeedRank Today
FeedRank, a newly developed algorithm for ranking RSS feeds only on RSSMicro
Click here to learn more
 6/10 Very Good --- www.realclearpolitics.com http://www.realclearpolitics.com/articles/index.xml
Wednesday, May 14, 2008 --- 71 days ago http://www.realclearpolitics.com/articles/2008/05/alice_in_housing_land.html
| Lewis Carroll, call your office. Or, better still, the author of "Alice's Adventures in Wonderland" should call Washington, where the government's determination to solve the housing "crisis" produced this lead paragraph in a recent New York Times story: "Federal agencies are intensifying a criminal investigation of the mortgage industry and focusing on whether some lenders turned a blind eye to inflated income figures provided by borrowers."
Perhaps some lenders who were lied to were culpably indifferent to dishonesty because they planned to sell to others mortgages that the lenders knew were risky. But the victimization narrative that is turning turbulence in the housing market into a morality tale involves borrowers victimized by "predatory" lenders. The narrative remains murky because there is scant information about the percentage of currently distressed borrowers who were untruthful about their incomes or net worth when talking to lenders.
One symptom of the "crisis" is that housing prices have fallen. How far is unclear. Estimates range from 3 percent to 13 percent. Questions arise. ... |
|
|
Recent Posts
|
|
|
Facebook Del.icio.us Digg StumbleUpon Reddit Google
Anytime
