Joe Petviashvili

“have the government buy one million new/unoccupied homes, blow them up, and then start all over again”

Once the vehicle stops, about 20 potential buyers file out and become detectives, opening and closing cabinets and drawers, knocking on walls and asking about the price, the previous owners and what repairs may be needed.

Sallie Mae's CEO ending shareholder conference call: "Let’s get the fuck out of here."

“The American financial system has started to look as logical as “turtles all the way down” this week.”

“With friends like this, liberals have no need of enemies.”

The Government and the market are trying to boil this down to a ’sub-prime’ thing, especially with all constant talk of ‘resets’. But sub-prime loans were only a small piece of the mortgage mess. And sub-prime loans are not the more...

Krugman was on book tour, but he spoke about the current economic issues instead. Paul Krugman is a professor of economics and international affairs at Princeton University, and the author or editor of 20 books and more than 200 professional more...

Is this the real price? Is this just fantasy? Financial landslide No escape from reality

“the key actors executed a brilliant strategem, the Rashomon defense.”

purchased improved land in SoCal (update: Inland Empire) for $0.15 on the dollar from a homebuilder (builder's total cost). The deal closed Friday. The purchase price was less than half the cost of just the improvements (grading, streets, etc)!

just published a handy chart outlining the eight ways a bank or investment firm can borrow from the nation’s lender of last resort. Five of them were created since last summer: