Monday, October 18, 2010
A third way for Quebeckers? New party in the offing
"The legislature was full of rumours Thursday about a new right-of-centre party that would be pro-business and ambivalent on the national question." Read the full article
The Mortgage Morass (By Paul Krugman)
A fantastic article by Paul Krugman
"Now an awful truth is becoming apparent: In many cases, the documentation doesn’t exist. In the frenzy of the bubble, much home lending was undertaken by fly-by-night companies trying to generate as much volume as possible. These loans were sold off to mortgage “trusts,” which, in turn, sliced and diced them into mortgage-backed securities. The trusts were legally required to obtain and hold the mortgage notes that specified the borrowers’ obligations. But it’s now apparent that such niceties were frequently neglected. And this means that many of the foreclosures now taking place are, in fact, illegal." Read the full article
Income Inequality: Too Big to Ignore (By ROBERT H. FRANK)
"Yet many economists are reluctant to confront rising income inequality directly, saying that whether this trend is good or bad requires a value judgment that is best left to philosophers. But that disclaimer rings hollow. Economics, after all, was founded by moral philosophers, and links between the disciplines remain strong. So economists are well positioned to address this question, and the answer is very clear." Read the full article
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