The Mortgage Monsters

If you don’t read Gonzalo Lira regularly, you should. If you think economics is boring, he makes the dismal science into a horror movie.

His latest creature feature gives you the details on what’s behind the mortgage foreclosure moratorium.

Of course, as usual, I won’t benefit. I refinanced recently, am current on payments and did it with a reputable organization that wasn’t standing around in the pissing-in-their-own-punchbowl circle.

All I can say except for “Kill a Banker for Christ!” is that it’s about time these rotten bastards who made the legal rules and financial rules so opaque finally are about to take a huge hit for it.

Drink up, boys!

UPDATE 2016: Yeah, well that was entirely too optimistic . . .


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