Oct 27 When refinancing helps the poor, and everyone else By Simone Pathe Economists know that lower income households most commonly refinance their mortgages and tap that equity when home values rise. But a new study from the National Bureau of Economic Research finds that when those households have extra cash on hand,… Continue reading
Aug 22 In Bank of America settlement, who's feeling the pain? By Simone Pathe The day after Bank of America's record $16.65 billion settlement with the Department of Justice, Making Sen$e looks back at how the bank increased their holdings of risky mortgages and looks forward at whom -- from consumers to shareholders --… Continue reading
Aug 21 Watch Will the $17B Bank of America penalty deter individuals from breaking the law? By PBS News Hour Bank of America will pay nearly $17 billion for its role in writing and securitizing risky home loans in the run up the housing crisis. For a closer look at the Justice Department deal, and the impact it and earlier… Continue watching
Feb 27 Can financial engineering save cancer research? By Edward Benz, Andrew Lo and Michael Goldberg, Associated Press/Report for America Cancer is the leading cause of death for individuals under 85, and government funding for basic research is in dangerous decline. But the same financing model that's blamed for the housing collapse could change the way we tackle this killer. Continue reading
Feb 06 The housing crisis: What's the Fed's excuse? By Charles Calomiris, Stephen Haber The massive increases in risky mortgages and thin bank capital requirements underlying the financial crisis wouldn't have been possible without the Fed’s willing participation. But the Fed doesn't act alone. In this adaptation of their forthcoming book, Charles Calomiris and… Continue reading
Jan 10 Watch New Mortgage Lending Regulations Require Proof of Borrower's Ability to Repay New Mortgage Lending Regulations Require Proof of Borrower's Ability to Repay… Continue watching
Oct 24 Watch Housing and the Foreclosure Crisis Are Missing From the Campaign Conversation Housing and the Foreclosure Crisis Are Missing From the Campaign Conversation… Continue watching
Feb 01 Watch HUD Secretary Donovan: 'We Need to Do More' to Help Homeowners HUD Secretary Donovan: 'We Need to Do More' to Help Homeowners… Continue watching
Apr 27 Watch Goldman Sachs Denies Misleading Investors in Senate Committee Hearing Goldman Sachs executives testified before a Senate committee about whether it used a large hedge fund to bet against the complex financial instruments it was marketing to investors. Jeffrey Brown gets two views on the hearings from financial writers Roger… Continue watching
Sep 16 A Year After Bailout, Uncertain Future for AIG A year after the U.S. government came to the rescue of insurance giant American International Group (AIG), the company has a new CEO and its share price is up. Yet the company's future remains uncertain. Continue reading