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| Subject: sub-prime mortgages The subprime mortgage crisis is an ongoing real estate crisis and financial crisis triggered by a dramatic rise in mortgage delinquencies and foreclosures in the United States, with major adverse consequences for banks and financial markets around the globe. The crisis, which has its roots in the closing years of the 20th century, became apparent in 2007 and has exposed pervasive weaknesses in financial industry regulation and the global financial system. Phony financial reform By John Schroy, on July 17th, 2010 |  Leave a comment  Unfortunately, instead of a ‘game-changing’ confidence-inspiring reform, the Obama administration presented the United States with the Dodd-Frank Act — a legislative miscarriage that has the potential to hold back recovery and impair the position of New York as a world financial center for decades — unless repealed or drastically amended. July 17th, 2010 | Print Article |  Email Article |  Topics: Barack Obama, Barney Frank, Chris Dodd, complexity, Corporate Governance, Derivative Strategy, dividends, Economic Recovery, efficient market hypothesis, eurosystem, executive stock options, Great Depression, Jeff Skilling, Nobel prize in economics, Pecora Commission, pension plans, rating agencies, risk, Stock Buybacks, sub-prime mortgages, US Congress | Category: Financial Market Regulator, featured | Leave a comment |  Short urlFaked Reform By John Schroy, on June 27th, 2010 | One comment  The immediate cause of the worldwide financial Crash of 2008 was the extensive granting of sub-prime mortgages. The Dodd-Frank financial reform bill introduced in Title XII, “IMPROVING ACCESS TO MAINSTREAM FINANCIAL INSTITUTIONS”, a new, fraud-prone solution to a non-existent problem, the granting of $2,500 loans to middle and low income borrowers. In combination with other political funds, this program could be an extremely powerful tool for voter fraud. In fact, it is difficult to imagine why else it would be inserted into the Dodd-Frank Act. June 27th, 2010 | Print Article | Email Article | Topics: Barack Obama, Barney Frank, Chris Dodd, Economic Recovery, sub-prime mortgages | Category: US Politics | One comment | Short urlSocial change: By John Schroy, on June 25th, 2010 | One comment  Restricted availability of consumer credit and a greater propensity of households to save before spending, may result in less use of credit cards and smaller mortgages. A return, even partial, to saving habits of the 1950s could stimulate economic recovery. The popular Dave Ramsey radio and TV shows suggest that a societal change in this direction is at least possible. Lower levels of personal debt would boost the economy and make people happier. June 25th, 2010 | Print Article | Email Article | Topics: Baby Boomers, Barack Obama, Dave Ramsey, Democratic Party, Economic Recovery, Fannie Mae, fiscal deficit, Freddie Mac, Great Depression, Leverage, Mortgage-backed Securities, pension, pension plans, rating agencies, sub-prime mortgages, unemployment | Category: Small Investors, featured | One comment | Short urlFeatured articles on inside pages
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