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via The Economist Not since 1933 had an American president taken the oath of office in an economic climate as grim as it was when Barack Obama put his left hand on the Bible in January 2009. The banking system was near collapse, two big car manufacturers were sliding towards bankruptcy; and employment, the housing … Continue reading
via Don Lee, Chicago Tribune The Great Recession took such a heavy toll on the economy that the typical American family lost nearly 40% of its wealth from 2007 to 2010, shaving the median net worth to a level not seen since the early 1990s. The Federal Reserve said in a new report Monday that median family net … Continue reading
The Obama administration is seeking to broaden access to a two-year-old refinancing program that has helped far fewer homeowners take advantage of low interest rates than initially expected. President Obama announced the effort Thursday night as part of his package of measures to spur job creation, saying it would help “responsible homeowners” by reducing their … Continue reading
The Brandt Standard 