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Posts Tagged ‘Anthony Sanders of George Mason University’

“The Giant Elephant in The Room”

Posted by Larry Doyle on September 21st, 2010 12:02 PM |

What is holding back our economy? Why isn’t there more credit available in our banking system?

I have answered these questions numerous times over the last two years BUT many in Washington pretend not to know the answer and pander to their constituencies in the process. Regular readers of Sense on Cents are well aware that the books of our banks–especially our largest money center banks–remain chock-filled with loans that are being valued far in excess of what they are truly worth. Let’s navigate.   

I first addressed issues within the second mortgage and HELOC (home equity line of credit) space in Fall of 2008 (Sense on Cents/Second Mortgages). Here we are a full two years later and America still has not received a straight answer and a full accounting by the banks or their regulators as to this “sinkhole” on their books and in our economy. 

Let’s dive into this hole, get a little dirty, and again expose the issues within this sector. (more…)






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