Bailout for Federal Housing Authority inevitable

fha bailout

FHA bailout looming.

With the government’s explicit guarantee of mortgages a bailout appears to be inevitable for the Federal Housing Authority. This should not be surprising news to anyone who follows the mortgage market closely, but a new study by Wharton finance professor Joseph Gyourko makes this conclusion clearer. As a bailout for the FHA looms, Congress will likely become enraged again — on behalf of the taxpayers they represent. What impact would an FHA bailout have on the housing finance policy debate?


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The aristocracy on Wall Street got $1.2 trillion in secret loans

wall street

Citigroup and Bank of America were the reigning champs of finance in 2006.

The reigning champions of finance in 2006 were Citigroup Inc. (C) and Bank of America Corp. (BAC).   As home prices peaked, they were leading the 10 biggest U.S. banks and brokerage firms to their best year ever with $104 billion of profits.


Continue reading… “The aristocracy on Wall Street got $1.2 trillion in secret loans”

Debt problems plague older Americans

postponing retirement

Many Americans have to postpone retirement.

Many Americans are reaching their 60s with so much debt they can’t afford to retire.  Before retiring most people would pay off their debts. But as wages have barely kept up with rising prices over the past 35 years Americans have pushed debt higher, living beyond their means. Now, people are postponing retirement, cutting living standards or both.


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