Paging Dr. Sowell

Someone needs help thinking beyond stage one:*

Researchers with the Federal Reserve Bank of New York found that investors who used low-down-payment, subprime credit to purchase multiple residential properties helped inflate home prices and are largely to blame for the recession. The researchers said their findings focused on an “undocumented” dimension of the housing . . . → Read More: Paging Dr. Sowell

John Hempton on the (hidden?) Losses of Spanish Banks

I am a sucker for a good argument presented with the correct dose of eloquence and cold facts, and John Hempton’s latest tour of the balance sheet of the Spanish bank BBVA is just that. Essentially, John sets out to address the question of whether Spanish banks are hiding their losses or, as . . . → Read More: John Hempton on the (hidden?) Losses of Spanish Banks