I have an idea. It’s an entirely impractical idea. But so is running a democracy where minimizing what you pay in taxes is a badge of honor, as opposed to a blatant shirking of one’s patriotic duty. I might not always like what our government spends money on, but that’s why I vote and get involved and do all those other things that hold …
Obama’s housing plan
I wrote a story for Time.com about our nation’s new housing-rescue plan, but it’s not online yet. So for now I’ll leave you with a link to this story, the fact sheet from Treasury (it’s a PDF), and a Q&A about how you might benefit (another PDF).
UPDATE: Here’s where you can read my full story.
One thing that struck me while going …
JetBlue will refund your ticket and all you have to do is lose your job
Taking a page from the Hyundai playbook, JetBlue is now offering to refund airfare for people who lose their jobs and let the airline know at least two weeks before take-off. It’s not the world’s easiest thing to get your refund–you’ve got to mail a notarized letter and send a fax and there are plenty of restrictions. But maybe helpful …
R. Allen Stanford illustrates Peter Crane’s theory of smart caribous
As if we needed any more reminders that when someone offers you “improbable, if not impossible” investment returns, you should run the other way, we now have the SEC complaint (PDF) against R. Allen Stanford for allegedly defrauding investors by telling them that their certificates of deposit were invested in safe, highly liquid …
Modernizing unemployment insurance for a 1980s economy
There’s immediate help for out-of-work people collecting unemployment in the massive stimulus bill President Obama signed into law this afternoon: an extra $25 dollars a week, an exemption from income tax on the first $2,400 collected, a 65% subsidy for staying on your old employer’s health insurance.
Then there is the part that looks …
The financial crisis becomes a TV show
On Tuesday night, your local PBS station will be airing (probably around 9) a FRONTLINE documentary called Inside the Meltdown that is by all appearances the most in-depth attempt so far to explain our little crisis on video. From the preview clips available for viewing on the site (I’d embed one but WordPress has chosen to make that …
A slow, cold week at the Curious Capitalist
This is the view from my window in the exurbs of Park City, Utah. The photo was taken at sunrise yesterday, so there are no pretty pink clouds on view as I look right now. But it’s still a nice view.
I’m on vacation this week, but I’m working today because TIME’s crack ad sales team actually ‘sold’ my column in this week’s magazine. …
Small town America teaches New York media elite a thing or two about the housing market
Happy Presidents Day from western PA! I am here, about an hour south of Pittsburgh, to help my grandmother pack up her house. Her house–which she sold after it was on the market for two weeks. So maybe I’m not that smart after all. I guess it’s still true that all real estate is local. And a house on the road to Newell is a hot …
How Booz-Allen predicted the newspaper bust
A very interesting tale from the blog of Tim McGuire, the former editor of the Minneapolis Star Tribune who now teaches at Arizona State:
Most people believe this is an industry implosion none of us could have ever imagined. Well that’s not really true.
The Cowles family imagined it and after years of strong stewardship decided in
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How to design a better loan modification program
Step 1. Know what has—and hasn’t—worked in the past.
Friends of the Curious Capitalist will be familiar with how much I like to go on and on about how there’s no good data showing which sorts of mortgage rewrites keep struggling borrowers out of foreclosure in the long-term. And how it would be nice, before we spend $50 billion …
Is it really already time to declare the Obama presidency a failure?
Paul Krugman, glomming on to the Failed Presidency of Barack Obama meme originated earlier this week by the FT’s Martin Wolf, writes in his column today:
So far the Obama administration’s response to the economic crisis is all too reminiscent of Japan in the 1990s: a fiscal expansion large enough to avert the worst, but not enough to
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New column: The paradox of thrift
I have a column online and in the issue of TIME with faith healing on the cover. It begins:
Don’t spend more than you make. Don’t buy things you don’t need. Save for a rainy day. If Americans had followed these simple rules over the past decade, there would be no financial crisis, no worst-since-the-1930s recession, no acrimonious
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