Americans are losing their homes to foreclosure in record numbers. There is no agreement as to whether an end is in sight. Federal and State legislators, executives, and judges address the foreclosure crisis daily, with new legislation, policies, directives, and in individual and class litigation, as they attempt to balance the multiple interests at stake, apply rules of law [...]
Posts under ‘Conscious Economics’
The Supreme Court of South Carolina has temporarily suspended foreclosures, to allow time for homeowners who qualify under federal programs to apply for loan modification.
A homeowner facing a foreclosure in Colorado may believe - mistakenly - that the only issue is whether the homeowner is in default in making payments on the loan. It is not that simple, especially these days. Colorado law is clear that other issues may be raised in a foreclosure hearing. Perhaps the most significant issue, in [...]
There’s no place like home.
If the financial crisis has taken you on a wild ride and left you feeling like you’re wandering on a winding road in a strange land, hang in there. You may find your way home with some help from the great and powerful Prez.
President Obama announced his Homeowner Affordability and Stability Plan today, [...]
Take a break from dismal economic news. Check out indie economic news at the Future of Music Coalition’s Policy Day 2009.
Inspired by the possibility of a “Middle Class of Artists” on Web 2.0, a stellar panel discusses a range of legal and policy issues that will be addressed in coming months and years - and [...]
The Office of Thrift Supervision of the U. S. Department of the Treasury has urged savings associations and holding companies under its purview to temporarily suspend foreclosures of owner-occupied homes until the Financial Stability Plan proposed Tuesday by Treasury Secretary Timothy Geithner is finalized. John M. Reich, OTS Director, says the plan will be in place [...]
At least one of those who predicted the financial meltdown reportedly did so with the help of behavioral economics. David Ignatious of the Washington Post reports that Nouriel Roubini
“. . . decided to discard the assumption of market rationality that underlies most economics and to embrace the psychological insights of what’s known as ‘behavioral economics.’ [...]
The field of behavioral economics has been given relatively scant attention in the vast coverage of the global financial crisis. There’s a news item here and there, an occasional informative blog thread on some psychological aspects of financial decision-making, but there hasn’t been much about such things as how technology might help an ordinary person make [...]