Rep. Allen West: ‘Homebuyers will pay for payroll tax deal’

professor1 It Makes Sense Blog 2/17/2012

Congressman Allen West (R-FL) released this statement today after voting no on the extension of the Payroll Tax Cut:

“Americans are exhausted, out of work and many have simply lost hope in the political system. They have been struggling now with nearly five consecutive years of record job stagnation, […]

Buffett’s Bank of America

Warren Buffett’s net worth jumped $154 million thanks to mortgage settlement

Patrick Howley The Washington Free Beacon 2/10/2012

Warren Buffett’s stake in Bank of America Corp. increased in value by $154 million after President Obama and the U.S. Justice Department announced a $25 billion foreclosure abuse settlement with the five largest U.S. banks Thursday, records […]

The Biggest Obstacle: Record Shadow Housing Inventory, and How Obama May Have Just Popped the Consumer Spending Bubble

Tyler Durden ZeroHedge 2/9/2012

While today’s foreclosure settlement deal is by some accounts expected to help the housing market, as the foreclosure pipeline is once again unclogged, it is unclear what this will actually do for price discovery and clearing levels when one considers the already untenable shadow housing inventory, which can be summarized simply […]

Holder, Breuer connected to players in foreclosure fraud?

Ed Morrissey 1/20/2012

For years, the Left has asked why the Obama administration hasn’t pursued prosecutions against lenders who arguably engaged in fraud when foreclosing on mortgages in the wake of the housing-bubble collapse. It turns out that these lenders had friends in high places in the Department of Justice. Reuters reports that both […]

Blow to Obama as chief of staff resigns

President Barack Obama’s chief of staff has resigned from the White House after less than a year in charge.

Telegraph [UK] 09 Jan 2012

Bill Daley, a former Clinton administration official and a member of a Chicago political dynasty, stood down after a troubled 12 months as the White House’s top aide, which saw growing […]

Michelle Meyer: Home Prices Will Continue to Plunge, and 2013 Will be the Worst Year for Foreclosures in History

Joe Weisenthal Business Insider 12/3/2011

Michelle Meyer, the well-known housing analyst for BofA/ML, has some bad news: The housing crisis isn’t over.

In fact, in her 2012 outlook piece, she says it’s “far from over” and that prices still have another 7% to decline nationally.

The basic problem: There are still tons more foreclosures or […]