It’s official: When you reduce a person’s monthly mortgage payment, there’s a better chance he can afford to pay it

The last time the Office of the Comptroller of the Currency (OCC) and Office of Thrift Supervision (OTS) came out with a report on mortgage servicers changing the terms of loans to try to keep people in their homes, the headline was, You can try to help folks out, but chances are, they’re just going to miss payments again anyway. This …

The IMF’s $750 billion day

I had a talk two years ago with Kenneth Rogoff, the Harvard professor and former IMF chief economist, about the future of the IMF. The IMF in its present form, he argued, made no sense.

“If you look today at the IMF’s total lendable resources, they’re $150 to $200 billion,” he said. “China has more than $1 trillion in reserves, Taiwan …

  1. 1
  2. ...
  3. 838
  4. 839
  5. 840
  6. ...
  7. 1014