Law in Contemporary Society

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CurrentEventsIndex 12 - 24 Jan 2010 - Main.CourtneySmith
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This page is intended organize all the interesting articles people are posting. Please edit the page to add articles (and discussion pages) to the list. We can play around with the formatting as we go, but lets try to keep it consistent so it stays easy to read.
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Underwater Mortgages

"Much has been said about the high rate of home foreclosures, but the most interesting question may be this: Why is the mortgage default rate so low? After all, millions of American homeowners are “underwater,” meaning that they owe more on their mortgages than their homes are worth. In Nevada, nearly two-thirds of homeowners are in this category. Yet most of them are dutifully continuing to pay their mortgages, despite substantial financial incentives for walking away from them."

Article: NY Times
Discussion:

 
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 Triple-A Failure

"In a practical sense, it was Moody’s and Standard & Poor’s that set the credit standards that determined which loans Wall Street could repackage and, ultimately, which borrowers would qualify. Effectively, they did the job that was expected of banks and government regulators. And today, they are a central culprit in the mortgage bust, in which the total loss has been projected at $250 billion and possibly much more."

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 -- GloverWright - 21 Jan 2010
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Added link to another article (in today's NY Times) about underwater mortgages.

-- CourtneySmith - 24 Jan 2010

 
 
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Revision 12r12 - 24 Jan 2010 - 14:07:03 - CourtneySmith
Revision 11r11 - 23 Jan 2010 - 05:41:40 - GloverWright
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