Fascinating New York Times profile of Countrywide

Published in August 26th, 2007

The biggest lender in the USA is looking the most vulnerable, and this article gives good background as to why. Well worth a read!

Link to extended 7.30 Report Interview

Published in August 17th, 2007

Posted by Steve Keen in Australia, Debtwatch, Media Coverage

No Comments

The 7.30 Report is making good use of the web with its extended interview feature. These are the edited highlights of the major interviews it does for stories, at best ten per cent of which sees the light of day in the final story.
Here is the link to the extended interview with me for their [...]

7.30 Report on “American mortgage shock waves hit Australia”

Published in August 16th, 2007

Posted by Steve Keen in Australia, Debtwatch, Media Coverage, USA

3 Comments

Those of you who missed last night’s 7.30 Report (like myself–I was playing tennis at the time!) should check the link below:
Â American mortgage shock waves hit Australia
Apologies again for a tardy update cycle on this blog, but as you can imagine, I’m busy as hell right now. When the dust settles–in early October–I hope to [...]

Brief Report on the Home Loan Lending Roundtable

Published in August 10th, 2007

Posted by Steve Keen in Australia, Debtwatch, Politics

No Comments

To its credit, the House of Representatives Standing Committee on Economics, Finance and Public AdministrationÂ decided to hold an “Inquiry into home loan lending practices and processes“, in the form of a one-day round-table discussion with interested parties.
They invited a diverse group: all the major banks were asked, as well as representative of non-bank lenders, mortgage [...]

“Total, total bullshit”?

Published in August 7th, 2007

Posted by Steve Keen in Australia, Debtwatch, Media Coverage, Politics

3 Comments

Oh dear. WhenÂ Nassim Khadim from The AgeÂ asked me to comment yesterdy on the electoral assertion being made by the Liberal Party–that rising State debt was putting upward pressure on interest rates–I responded thatÂ the assertionÂ was:
“Total, total bullshit. It’s like saying that somebody dropped a pebble into the ocean and that caused a tsunami. And you can [...]

Debtwatch No. 10: America’s Ponzi Schemes Unravel

Published in August 5th, 2007

Posted by Steve Keen in Australia, Debtwatch, USA

5 Comments

Named in mock honour of America’s greatest swindler, a Ponzi Scheme is a financial ruse that, for a time,Â generates apparently great returns from an investment that in fact produces nothing. Ponzi Schemes initially appear to work because the promoters pay early entrants seemingly fantastic returns, by the simple expedient of giving them money deposited [...]

Submissions to Parliamentary Enquiry released

Published in August 2nd, 2007

Posted by Steve Keen in Australia, Politics

No Comments

As you may know, the House of Representatives Standing Committee on Economics, Finance and Public Administration has arranged an Inquiry into home loan lending practices and processes, to which I have been invited. The submissions have just been released; click on the link to access them.
My submissionÂ is here for speedy reference. Apologies to all for [...]