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Jim Cooper Discusses Stupak Amendment Without Revealing He Voted For It
Today on Hardball, Jim Cooper was on to discuss the Stupak amendment and how the House and Senate can work through it to reach a compromise. He had a long conversation with Chris Matthews about how...
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McConnell: Tax Cut Deal in December Didn’t Work
Yesterday, Dave Weigel caught Mitch McConnell making the novel statement that tax cuts don’t work. “I, as you recall, negotiated in December an extension of current tax rates. They still had 59...
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Why the Constitutional Option on the Debt Limit Makes Even More Sense Today
Ezra Klein writes today that the debt limit may indeed be unconstitutional, but this would be a bad time to test that proposition. He says that “layering a constitutional crisis over political...
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Responding to Ezra Klein on the Constitutional Option
So Ezra Klein has responded to my criticism of him yesterday about the Constitutional option for the debt limit, whereby the Obama Administration simply orders bills rung up by Congress to be paid....
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Looking at Responses to the Failure of Administration Housing Policy
The response to Binyamin Applebaum’s front-pager on Administration housing policy, which left out the part where the Obama Administration purposefully did as little as possible out of an oversized...
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White House to Announce Fannie/Freddie Refi Plan
As soon as today, the White House will announce that millions more underwater homeowners can take advantage of a refinancing program if their loan is owned or guaranteed by Fannie Mae or Freddie Mac....
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Donovan Claims “Imminent” Foreclosure Fraud Settlement, Again
Shaun Donovan, the Secretary of Housing and Urban Development, made some news today at the US Conference of Mayors, by saying that a foreclosure fraud settlement was imminent and that it would include...
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California AG Harris Turned Down a Guaranteed 60% of the Foreclosure Fraud Deal
Somebody really wants this foreclosure fraud settlement to go through. So much so that California was offered a sum to participate in the settlement sure to piss off the other 49 AGs across the...
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CNBC’s Diana Olick’s Wrongheaded Analysis of the Foreclosure Fraud Settlement
We’re going to have to endure this line of argument from those savvy business reporters, and Diana Olick is at the head of the pack, so we might as well take on this argument about the foreclosure...
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The Pernicious “Foreclosures are Good” Meme
The New York Times editorial board has an appropriate take today on the barrage of housing-related spin coming from all corners lately. If you follow these issues, you would have to be willfully blind...
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Foreclosure Fraud Settlement Predictably Leading to More Foreclosure Actions
I wrote when the foreclosure fraud settlement was announced that a potential consequence would be a spike in foreclosure actions. The fact that robo-signing and servicer abuse appear to be ongoing...
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Housing Recovery Bubble Popped Again by New Case-Shiller Data
Case Shiller Composite, Year over Year (Calculated Risk) The deep investment in the notion of a housing recovery took another hit today, as home prices fell to a 10-year low. The housing market started...
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Negative Equity Still 800-Lb. Gorilla in Housing Market
Kathleen Pender at the SF Chronicle, one of the few national journalists to keep up with the government’s newly-tweaked HARP refinancing program, has a new story out claiming that the program is...
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Housing Advocates Start Campaign Organizing Underwater Homeowners
We’re supposed to turn away from some of the underlying problems in the housing market, because the fundamentals are strong, and a combination of private equity house-flipping and deliberate blight...
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The Path for Housing Is Dangerous
The other channel of a potential economic recovery would be housing. This was the channel that got Paul Krugman so jazzed last week. I should note that the Federal Reserve’s economic projections show...
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