Tag: cramdowns

In praise of cramdowns

Principal reduction (cramdowns) granted by bankruptcy courts is the only solution to underwater homeowners’ plight, a recent article from Daily Finance argued. Unlike recent endeavors to implement cramdowns through bank...

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The Fed points the finger

In anticipation of Ben Bernanke’s speech at the annual Federal Reserve (Fed) conference in Jackson Hole, Wyoming, Paul Krugman expressed sincere doubt that Bernanke would propose any effective strategies in monetary policy to...

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