Archive for June 17th, 2009

Mortgage Prepayment Penalties: Not The Beast You Perceive

Mike Rorty has been on something of a crusade to ban prepayment penalties on mortgages. Somehow he has concluded allowing banks to charge prepayment penalties leads them to make riskier loans. So I don’t misstate his argument, here is how it appears in his most recent post: Nope. One way to do it would be […]

Now The President Goes Full Court On Energy Legislation

Fresh off their introduction of a financial system regulatory proposal, the Obama administration is now shifting gears and going all out for passage of energy legislation in the House. They call it “energy week” and it’s intended to get a lot of the Democratic fence sitters to commit to the program and get a vote […]

Open Season On The Fed

Kind of listening to all of the blather about the new regulatory proposals with one ear this morning. As I keep saying, don’t get too worked up, this thing is going to end up on a back burner for some time. The most telling comments that I heard this morning came from Barney Frank and […]

The Stimulus Merry-Go-Round

I particularly liked this post from Clusterstock, not because it catches Krugman in “gotcha” moment but for the larger point it makes: The basic point is that the recession of 2001 wasn’t a typical postwar slump, brought on when an inflation-fighting Fed raises interest rates and easily ended by a snapback in housing and consumer […]