George Bush stars in a movie as Dick Tater

Speaking to the issue of regulators and the crash of Wall Street, “They just haven’t done a particularly good job,” said James Barth, a senior finance fellow at the Milken Institute, a nonpartisan research group based in Los Angeles. The same can be said for the entire Bush administration. Recently I saw a comment that …

Statements versus reality of mortgage messups

First-time homebuyers have originated less than a tenth of all subprime loans since 1998, according to a 2007 Center for Responsible Lending analysis. As recently as 2006, just over half of all subprime loans were refinances of existing home loans. The expected foreclosure toll from these loans will outpace the ownership gains by nearly a …

Designed government subprime and Bush growth initiative

Attorney’s General and others are piling on as they focus on Countrywide in the subprime debacle. Countrywide was not the only lender involved. Some insiders at HSBC claim HSBC (HSBC Finance) was just as bad. There’s no question that Countrywide made billions in high-cost loans to risky borrowers that have ended up in foreclosure. But …