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 . . .