Arnold 's Blog

I note that the Federal Reserve has stepped in to the mortgage market, and tried to work at elaborating that legal cause of action so wished-for by the trial lawyers: the offense of lending money.I'm not kidding. In the bulletin, they also purport to remove the borrower's ability to finance the ...

It's always amazing to see the lengths Congress will go to in order to make things worse. For one thing, despite the fact that subprime loans are not the major problem here, they are easy to report on as if they were (and, after all, can we expect reporters to notice houses that HAVEN'T been fore...