NOTE: This is the third part of a
NOTE: This is the third part of a serialized translation of Boris Nemtsov’s white paper critiquing the Putin years. It includes the third and fourth chapters of the work. Part 1 (introduction and chapter one) appeared on Monday, Part 2 (chapter two) on Wednesday; look for Part 4 on Sunday. You can display all the parts in reverse sequence on a single web page by simply clicking the “nemtsov white paper” link at the bottom of this post. Putin: the Bottom Line by Boris Nemtsov First Deputy Pri
OTS offers new way to skin subprime foreclosure cat
Suggesting that there is a federal regulatory agency that can actually think creatively, the Washington Post reported yesterday that the Office of Thrift Supervision is preparing to introduce a proposal that will allow homeowners whose mortgage debt is larger than the value of their homes, to “refinace into government-insured [Federal Housing Administration] loans that cover the current value of their homes.” The plan apparently tries to address what has become a big impediment to the refinanc