SEC finally sues New Century Financial Corp

From 2007 through 2009 Mortgage Blues reported on the subprime crisis. Daily articles highlighted a nation in turmoil as financial greed and abuse rocked the country. Now Mortgage Blues gets to report on the aftermath. Lawsuits continue to see America in search of a single culprit. In one such suit by the SEC three former …

TIME Diagnosis of Patient Zero is Flawed

According to a TIME 24/7 article this morning, “Someone who took out a subprime loan in 2003 is the “patient zero” who began the great recession.” A single borrower set off the series of events that may lead the economy into its greatest downturn since The Great Depression? Blaming the financial meltdown on one borrower …

Brad Meltzer and The Millionaires – when our money is not real

Here is some food for thought during the current financial crisis. When I read the book “The Millionaires” I realized that I used some of the same words in previous blog articles and off-the-record discussions: “..grab Duckworth’s program and sell it to the highest bidder. Let a terrorist organization get ahold of it. Even worse, …