Category Credit crisis

San Diego sues Bank of America

They want to make the city a “foreclosure sanctuary” and stop banks from foreclosing. If successful, the lawsuit should provide all manner of chaos, merriment, counter lawsuits, and unintended results.

Ways around the current short selling ban

Our federal government rode to the rescue recently to protect us from those nasty short sellers who were driving prices down. So far, so noble, right? Except the government banned a specific type of short selling called naked shorting, which…

House won’t sell even at $6,900

So they’re lowering the price to $5,000. It sold for $110,000 in 2005. This is in Flint, Michigan, where the foreclosure rate has soared. Speculators and long-term investors don’t want a three bedroom house for $6,900? Yikes.