No fault bankruptcy when life changes the rules

Bankruptcy laws were strengthened in 2005. Many contend it was no accident, although it appeared to be unjustified at the time. Today’s economy, job losses, and the failed subprime experiment had risks associated with the economy, and bankruptcy changes insulated the financial sector while the government experimented with mortgages. Other changes in life also effect …

Treanor analysis details worldwide banking and mortgage truths

As I read a recent news article I noticed a line that said “…the United States has one of the most highly regulated banking industries…” – Which, of course we know in retrospect, is a gross error and laughable. The assumption, even by most Americans, is what got us in trouble. When collaterilized debt obligations …

Job losses shock some as others estimate real unemployment near 12 percent

Fed chariman Ben Bernanke still won’t admit that the United States is in a recession. On the other hand More than once in the past, three consecutive months of job losses have marked the start of a recession. “It is our view that we are already in one,” said Drew Matus, a Lehman Brothers economist, …