Terry Hoskins said he’s been in a struggle with RiverHills Bank over his Clermont County home for nearly a decade, a struggle that was coming to an end as the bank began foreclosure proceedings on his $350,000 home. “When I see I owe $160,000 on a home valued at $350,000, and someone decides they want to take it – no, I wasn’t going to stand for that, so I took it down,” Hoskins said

TANSTAAFL is an acronym for the adage “There Ain’t No Such Thing As A Free Lunch” originating in the 1940s and later popularized by science fiction writer Robert A. Heinlein. In today’s column, Eugene Robinson explains how we could have all benefited from Heinlien’s advice when the housing sector went insane.

President-Elect Obama Meets with Economic Advisers, Calls for “Swift Action” on the Economy | Change.gov Friday, November 7, 2008 06:20pm EST Barack Obama today held his first press conference as President-Elect to call for “swift action” to fix the nation’s economy. “Immediately after I become president I will confront this economic crisis head-on by taking  Read more »

Journalists, start your skepticism. In covering the proposed $700 billion bailout of Wall Street don’t repeat the failed lapdog practices that so damaged our reputations in the rush to war in Iraq and the adoption of the Patriot Act. Don’t assume that Congress must act instantly, as so many news stories state as if it  Read more »

To the Speaker of the House of Representatives and the President pro tempore of the Senate: As economists, we want to express to Congress our great concern for the plan proposed by Treasury Secretary Paulson to deal with the financial crisis. We are well aware of the difficulty of the current financial situation and we  Read more »