Imagine a high-wire act performed without a net. That describes the Federal Reserve’s effort to curb inflation without crashing the economy. Success will bring applause and relief; failure, a brief downturn, at best, with a prolonged recession the worst case outcome.Read More
What began as a ripple of concern about a few isolated foreclosure actions is threatening to reach tsunami proportions, possibly delaying or reversing thousands of foreclosures nationwide and adding further insult to the housing market’s already substantial injuries.
Keeping track of the foreclosure mess is becoming almost a full time job. New developments surface almost daily and the implications widen with each analysis of the sloppy (and potentially fraudulent) paperwork that has spawned foreclosure challenges nationwide, triggered calls for foreclosure moratoria, launched multiple investigations, and raised question not just about the legitimacy of many foreclosure actions but about the credibility and viability of the paperless mortgage system that has evolved over the past several years.
September employment report disappointed just about everyone, from the job seekers looking for a sign that their prospects are improving, to Democrats, hoping the statistics would not be used to batter them at the polls in November, to economists, who had predicted that the numbers would be weak – but not this weak.