Ever since the suspension of rigorous mark-to-market accounting rules one year ago, banks have gained the ability to “time” their credit losses. This development does not feel like progress. Banks now possess the ability to defer embedded credit losses for a very long time, in the hopes that a “typical” postwar rebound in house prices and employment comes to fruition.
July 8th, 2010 | Dan Amoss | 1 comment | ContinuedAll Posts Tagged With: "foreclosures"
Another Big Wave of Foreclosures
“Rising unemployment and a new variety of mortgage resets continued to gradually shift the nation’s foreclosure epicenters in the third quarter away from the hot spots of the last two years…
November 11th, 2009 | Bill Bonner | 13 comments | Continued
