subprime

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The Crash, Peak Oil and Resilient Cities

By Peter Newman / On December 9th, 2008
How did the crash happen? Over-inflating the economic balloon with debt that was vulnerable to rises in oil price. What do we do about it? Use non-oil-based projects and approaches to generate economic growth or else we are going to make things worse. In detail....
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Sprawl is the Root Cause of the Financial Crisis

By [node:field_contributor] / On September 22nd, 2008
Ask most people about the causes of the current financial meltdown and the proposed massive Federal bailout and it comes down to two factors.  First, sub-prime mortgages were made to households unable to pay for them when rates readjusted upward.  Second, these mortgages were subdivided, given dubious credit ratings, and dumped on unsuspecting investors. The beauty of this explanation is there is a beginning, middle (where we supposedly are now) and end-when the sub-primes have all readjusted.  It portrays the crisis as a cyclical downturn; more brutal than most but ending in 2-3 years.
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The next shoe to fall

By [node:field_contributor] / On August 5th, 2008
Much pain has been experienced in the American and world economy due to the collapse of sub-prime mortgages. This slow motion car wreck has resulted in: massive commercial and investment bank write-downs, the beginning of a series of bank closings, destabilized the two largest mortgage guarantors, Fannie Mae and Freddie Mac, resulting in an explicit Federal guarantee for them