Nostalgia for the East — or ‘ostalgie,’ a portmanteau combining the words ost (‘east’) and nostalgie (‘nostalgia’) — has taken hold in contemporary, unified Germany.
Question: Banks like Wells Fargo and JP Morgan recently announced better-than-expected profits. The given reason is that they are making money on the refinancing of mortgages. Doesn’t mortgage refinancing imply lower rates of interest and repayment? How can they be … Continue reading