Aug 20 2009
Home Equity Loans: $674 Billion in Total Loans. When The Household ATM Goes Out of Order. First, Second, Third, Fourth, and Even Fifth Mortgages.
Home equity was once seen as a cushion for a rainy day. People built up home equity as a means of paying off their home loan and saw it as a source of security. The days of the mortgage burning parties were all but lost in this housing bubble. The roots of the housing bubble [...]
Jun 10 2009
The Economic Recovery Decoy: Bank Refuge and Auto and Home Sales Plummet. Two Largest Purchases for Americans still Treading Water. Number of Renters Increases by 748,000 in one Quarter.
When I hear about the banks and Wall Street returning TARP money to the government I can’t help to think of a successful Trojan Horse hitting our economy from within. The initial rush to back an unprecedented bailout for the sake of the economy actually turned out to be a strategic looting of the American [...]
