Developing Affordable Housing Ecosystems World Wide
By:David A. Smith Spain is caught in a deflationary spiral, and as far as I can tell it is only getting worse. From positive money, 2010 When a delinquent entity whose solvency is in question is not a bank or company but a nation, the techniques that work for addressing a bankor [...]
[Continued from yesterday's Part 1.] By: David A. Smith In both explicating and quarreling with Peter Wallison‘s most recent Wall Street Journal op-ed piece on the perils of regulation, particularly the Basel accords, we spent yesterday explaining the risk-weighting requirements and observing the perverse consequences of weighting pools of mortgage-backed securities (MBS’s) as [...]
By: David A. Smith Is there truly a risk-free security? One for which no reserve is required? Not worth the pixels it’s not printed with? For more than a decade, Peter Wallison of the American Enterprise Institute has been crusading against government involvement in financial markets, particularly mortgage markets, so when he [...]
[Continued from yesterday's Part 1.] By: David A. Smith Yesterday we saw that, despite Spain’s having a pro-creditor mortgage and bankruptcy framework that can encumber a defaulting borrower with fifteen years’ garnishment of his wages, the volume of foreclosures is at least twice the United States’ performance, and as presented in this New [...]
By: David A. Smith Via faithful reader Mathew Healy comes a story that, with its consequences of truly indentured servitude without redemption, seems something out of the nineteenth or even eighteenth century instead of a recent New York Times article: The Rake in debtor’s prison, paying the costs of his incarceration MADRID [...]
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