Political commentary, opinion & insight into the state of the United States of America.

I have written repeatedly in this blog that the commercial mortgage bubble is huge and about to burst. Big is $3.4 trillion. Over 50% is held by banks, not spread around the world in securitized investments like the residential mortgages were. Banks have been slow to take losses on this paper. Some are collecting interest Read the full article…

An employee of Charles Schwab told me that one of their top analysts spoke at a conference and told the attendees that America’s banks may be bankrupt. Shocking? Untrue? Maybe, maybe not. Statistics show that foreclosures are about to re-erupt. Rising unemployment and falling home prices are the root cause. While home sales are steadying, Read the full article…