There’s Enough Blame To Go Around

We Are All In This Together Now   By Frank Schiavone Big crises are not caused by just one thing. They are usually the culmination of a lot of things – wrongheaded thinking, failed policies, poor choices, deliberate inaction, and selfish impulses that are inherent in much of what we humans do. Our nation’s economic meltdown is no different. It did not happen by chance or just...

Unfettered Capitalism Can Be Lethal

The Snake Bit Us By Frank Schiavone In the spring of 2000, a stock market bubble burst siphoning off roughly ten trillion dollars of wealth. That’s $33,000 for every person in the Nation. In response, the Federal Reserve slashed interest rates to historic new lows inundating the market with cheap credit. Our Calvinistic impulses long since forgotten, Americans went on a spending binge. (The...

Efforts to Expand HomeOwnership Overshot the Mark

Bipartisan Housing Initiatives Helped To Fuel Massive Asset Bubble By Frank Schiavone “Expanding Homeownership: The President believes that homeownership is the cornerstone of America’s vibrant communities and benefits individual families by building stability and long-term financial security. In June 2002, President Bush issued America’s Homeownership Challenge to the real estate and...