The Mortgage Mess

It's definitely good politics to claim that you have to protect the private sector, lumping small business owners who truly compete in a free market with the uber / multinational corporations that successfully lobby our congressmen and women on a daily basis to write the laws that create the market they want.

Many good arguments / points made in this video regarding the banks, the mortgage mess, and the housing market, but minutes 6:00 - 7:00 is definitely a good listen.

As Barry Ritholtz noted towards the end of the video, "we have the best Senate money can buy!"

Disgusting, but quite clearly true if you remotely pay attention to how things really operate!

Foreclosures and the Higher-End Housing Market

No real surprise that the foreclosures are starting to have a larger impact on the higher-end housing market. If you had money in savings, investment accounts (or any other vehicle), and access to credit, you have had an opportunity to throw good money after bad. Unfortunately, even for those who have money, there's only so long you can do so waiting for the economy to turn.

Complete Article: Los Angeles Times - Foreclosures of million-dollar-plus homes on the rise