Essentially much of the current crisis with American banks and mortgage companies can be attributed to the deregulation mania of the current administration. It is true that deregulation began to some extent within the Clinton administration but it rapidly escalated after that.

Homebuilder Lennar Corp. said Monday it’s fiscal first-quarter losses ballooned 77 percent as it booked charges to adjust land and inventory values, while home deliveries and new orders plunged despite stepped-up buyer incentives.Chief Executive Stuart Miller said the company, one of the nation’s largest homebuilders, continued to face negative housing market and economic trends during t…

Recently, the Bush administration nationalized the two major mortgage giants. Yes, you read that rightnationalized. Very strange for a Republican administration since this is nothing less than a form of state socialism which Republicans are supposedly adamantly against.

When to file bankruptcy? One rule of thumb: If your total credit cart debt is more than three to five times your monthly income, it may be time to consider filing.


* Wyo. man gets 2 years for threats to halt foreclosure (Howard Pankratz, Denver Post)

A man who threatened to kill IRS employees or anyone else who tried to enforce a foreclosure order on his Gillette, Wyo., property has been sentenced to 27 months in prison.

* Worthing man on trial for attempted murder (Eastbourne Herald)

Martin Hewlett, 45, rammed wife Anne off her bicycle as she rode back to their home in Guildford Road, Worthing, then drove back over her and left her for dead, it was claimed.

* Mortgage tax break threatened (Baltimore Sun)

The Obama administration’s budget threatens to cut a benefit many Americans view as practically a right – the mortgage interest tax deduction – and powerful real estate interests are fighting back.

* The Once and Future Mortgage Lender (Vito J. Racanelli, Wall Street Journal)

THE COST OF GOOD INTENTIONS IS OFTEN not obvious, but when the government is doing the intending, you can be relatively sure that the cost will be high. Northern Rock, nationalized by the United Kingdom early last year, might find this out soon enough.

* Lawsuit: Banks Steered Blacks To Bad Loans

Lawsuit: Banks Steered Blacks To Bad Loans NAACP Claims Wells Fargo, HSBC Gave Whites With Same Qualifications Lower Mortgage Rates

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