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A year in the life . . .

 
It's been about a year since the meltdown on Wall Street, and it's good to hear that Ben Bernanke thinks the recession is over. 
I believe that much has been done, and that the steps taken have been positive, but it's not over by a long shot.  Yes, necessary things have been done to stabilize the economy so that we are now just in a recession as opposed to the "Great Recession", and it appears that what has been done by governmental design is to shore up, capitalize, and stabilize the banking system.  Although that has left distaste in the mouths of many, it seems to have been a baby and bathwater bailout. 
Nevertheless, let's not kid ourselves, the fundamentals that led to the "Great Recession" are still with us, and the statistics that are giving us hope are somewhat misleading at the present time. 
Specifically, the fact that foreclosure rates have declined is a skewed statistic.  Loans are not being modified in large part, and short-sales are difficult and very lengthy procedures.  The major banks have merely put off foreclosures en-masse for several reasons. 
There was the Land Court decision in Massachusetts that tossed out foreclosures because the ... more

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