When the bank forecloses on someone's home, their credit is ruined and they run the risk of becoming homeless. The foreclosure also affects the whole community as empty houses fall into disrepair. Kansas City, Missouri has been hit hard by the financial crisis. Mary Rabon is a community organizer in...

I'm distressed as all hell by the fall in the stock market; but the decline, swift and sure as a sharp knife in its pain, has one benefit. It indicates powerfully that Obama's economic policies and his vision of a desirable political economy are economically counterproductive and irrational....

Today I'm reminded on two fronts that government intervention in the economy is like using a sledgehammer to fix a crooked wall hanging. #1- Wall Street Journal reports that we're moving right back to a credit crunch (subscription required unless you're Google-savvy like me). "bond investors worry t...

This week kicks off the international celebration commemorating the third anniversary of the founding of this blog on March 14, 2006. As with any birthday, it is so gratifying when others reach out with their good wishes and I was pleased that some of the world's leading lights in technology, po...

Professor Jasper Kim Ewha Womans University Department of International Studies (Image from Ewha GSIS) Professor Jasper Kim, of Ewha's International Studies Department, published a column, "The global financial crisis 101," in last Thursday's Korea Herald that helped clarify for me our current finan...

Hal is trying to get this mantra started: "Obama Lied, The Economy Died". He adds, General Electric slashed their dividend (68%) for the first time since the "Great" Depression, General Motors is worth 3 cents a share, the market is 1/2 of what it was when President Bush was in o...

It is difficult to muster any sympathy whatsoever for the goddamned banks. This is a crisis entirely of their own manufacture. Yes, the housing market went down -- which anyone with an ounce of sense could have predicted, and did. Any bank betting the entirety of its assets many-times-over on that n...

Filed under: North America, United States, Hotels and Accommodations, News The financial crisis isn't just a problem for the residential market - hotels are getting slammed. So are cruise lines, and we all know about the airline industry's unending woes. The travel industry in the United States is s...

Via Matt Yglesias, may I present Representative John Campbell, who lets us all know that our betters are outraged, outraged I tell you at the economic policies of the president: Rep. John Campbell (R-Calif.), who gives his departing interns copies of Ayn Rand’s novel "Atlas Shrugged," told me ...

Barry Ritholz has a depressing list of companies the were going gangbusters quite recently and are now damned near worthless.  A partial list: AIG (39 cents) Citigroup (98 cents) E*Trade (66 cents) Unisys (37 cents) Ford ($1.83) GM ($1.83) For those of us who don’t buy individual stocks, here...