A Quote by Mark Zandi
It's time to pull the bandage off America's foreclosure problem. The economy is ready to emerge from its recent dark period, but to make it happen soon we need to speed the resolution of millions of troubled home loans. Six years have passed since the crisis began, yet instead of accelerating, foreclosures have slowed.
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The 2008 financial crisis and the Great Recession that followed have had devastating effects on the U.S. economy and millions of American lives. But the U.S. economy will emerge from its trauma stronger and widely restructured.
It's Obama's bad luck that he got elected just as the mayhem of the foreclosures, the banking collapse, and the General Motors disaster was accelerating the surge in unemployment to warp speed.
What we collectively decide about how to bail out our economy, how to pull our economy out of a ditch and what rules we put in place to make sure this problem does not happen again, will shape our country for the next 50 years. This is it.
A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage-market financed withdrawals of home equity in recent years.
Student debt is crushing the lives of millions of Americans. How does it happen that we can get a home mortgage or purchase a car with interest rates half of that being paid for student loans? We must make higher education affordable for all. We must substantially lower interest rates on student loans. This must be a national priority.
Too-easy credit and millions of bad loans made during the U.S. housing bubble paved the way for the financial calamity and Great Recession that followed. Today, by contrast, credit is too tight. Mortgage loans are particularly hard to get, creating a problem for the housing market and the broader economy.
Almost a decade removed from the foreclosure crisis that began in 2008, the nation is facing one of the worst affordable-housing shortages in generations.
Blot out the moon, Pull down the stars. Love in the dark, for we're for the dark So soon, so soon.
Payday loans are but one of many financial techniques - from overdraft fees to student loans subsidizing for-profit colleges - specifically designed to pull money from the pockets of the poor. This problem generally goes unrecognized by policy makers.
So we are in for years of debt deflation. That means that people have to pay so much debt service for mortgages, credit cards, student loans, bank loans and other obligations
that they have less to spend on goods and services. So markets shrink. New investment and employment fall off, and the economy is falls into a downward spiral.
In recent times no problem has been more puzzling to thoughtful people than why, in a troubled world, we make such poor use of our affluence.
Instead of having a set of policies that are equipping people for the globalization of the economy, we have policies that are accelerating the most destructive trends of the global economy.
Instead of using new technologies to preserve for ready discovery material that might in the past never have been stored, or deleting everything as soon as possible, we can develop systems that place sensitive information beyond reach until a specified amount of time has passed or other conditions are met.
There is something wrong with our system when I can leave here and make billions of dollars in 10 years while millions of students can't even afford to pay off their loans, let alone start a business. We all know you don't get successful just by having a good idea or working hard. You get successful by being lucky too. If I had to support my family growing up, instead of having the time to learn how to code. If I didn't know that I was gonna be fine if Facebook didn't work out, then I wouldn't be standing up here today. And if we're honest, we all know how much luck we've had.
I have had a strong and a long relationship on national security, I've been involved in every national crisis that this nation has faced since Beirut, I understand the issues, I understand and appreciate the enormity of the challenge we face from radical Islamic extremism. I am prepared. I am prepared. I need no on-the-job training. I wasn't a mayor for a short period of time. I wasn't a governor for a short period of time.
America is ready for livable communities. America is ready for high-speed rail.
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