JoeTaxpayer

For those who have read my page of links to articles on the Subprime Meltdown, I’ve added one more - “The Government-Created Subprime Mortgage Meltdown” by Thomas J. DiLorenzo.

As the title implies, he holds the Government (not the treasury, nor the federal reserve, but the government itself) responsible and he cites the 1977 Community Reinvestment Act (CRA) as the genesis of our current mess. As always, any other suggestion, please add a comment.

Joe

written by JOE \\ tags: federal reserve, Finance, investment, Mortgage, Subprime, subprime meltdown

As illustrated in a beautiful New York Times graphic:

Note: Yesterday the Fed lowered the Fed Funds Rate a further .75% to 2.25% and the S&P rose to 1330.74 up 54.14.

Joe

written by JOE \\ tags: federal reserve, Finance, interest rates, mild bagel, prime rate