Month March 2009

One solution to the mortgage crisis

An ex-Countrywide honcho is buying mortgages for pennies on the dollar, then offering distressed homeowners greatly reduced monthly payments. Kurland’s new company, PennyMac (!), goes to a demolished bank or the FDIC and buys up delinquent mortgages at, say, 20…

How insane are the Southwest water wars?

The Nevada Water Authority wants to divert Mississippi River flood waters into aquifers so they can grab some of it. I’m guessing the response from the Midwest will be “over our dead bodies.” Another possibility is to rethink having large…