lindlou

Foreclosures Prove Loan Modification Isn't Working

Come to Michigan, especially the Detroit Metro area, if you don't believe we're in a recession. To comment on the article, I think the reason that loan modification isn't working is that alot of people who have the loans out are investors/speculators and modification isn't an option for them. Check out this article www.reuters.com/articl... from Reuters ("California Man Losing Nine Homes In Mortgage Mess" 5/11/2008)--this nitwit is skipping away from 9 properties in 3 States and is only bummed that he won't be able to keep his beach house. Time to bring back debter's prisons!

The Credit Bubble: Deregulation Gone Wild

I think it's time that we called this what it really is--criminal behavior. I am sick of hearing debates about whether something was a "moral hazard" and if it was "ethically correct". The way to stop this is to go all of the way back, reinstate Glass-Steagall and all of the other depression-era regulations and start from there. I think the possibility of a long prison sentence might be the only thing that will change the behavior of some of these corporate criminals.