The Wall Street Journal‘s number of the week is startling. “107: How many months it would take to sell banks’ current and shadow inventory of foreclosed homes.” If Journal reporter Mark Whitehouse is right, banks will need 9 years to clear their foreclosure inventory. But I wonder. Could it be longer?
I voted for Barack Obama and still have much hope for his presidency. But from my humble perspective, his priorities were out of order coming into office. Healthcare should have been second to financial reform. The Financial Crisis Inquiry Commission hearings now underway started more than a year too late.