As our elected officials have started to come to terms with what they’ve done: The financial services industry is growing increasingly concerned as more politicians get behind the idea of a broad moratorium on home foreclosures, which banks and many outside analysts say could be good short-term politics but terrible long-term policy.One senior Wall Street… Continue reading More on the “forecosure issue”
“Screw you, poor children!” – Wilson Lucom’s widow Hilda Lucom, after suing to get Lucom’s will and it’s donation of millions of dollars to Panama charities declared void. Remember during one of the many marches in DC some teabagger sent out a memo telling people not to go on certain subway routes because of black… Continue reading Drain Clogs – 10-11-10
Earlier this year, Yves Smith wrote: A good Washington DC contact told me that a public relations/media push to demonize those who decide to walk away from mortgages they can still afford to pay (aka “strategic defaulters”) is underway. Expect to see a good bit of moral fervor as those who choose to cut their… Continue reading Remember those foreclosure queens?