Ethan Harris, the chief U.S. economist at bankrupt Lehman Brothers, says it's been "the most tumultuous two weeks of my personal and professional life." Even on Friday, with the tumult settled somewhat by Barclays' purchase of Lehman's...

It's just a throwaway line in a comment by Curmudgeon on my Merced real estate saga, but it nonetheless got my hackles up:

Grisly news today from the Federal Reserve's July survey of senior bank loan officers. Loan-writing standards are tighter across the board, but especially for prime mortgages...

The Housing and Economic Recovery Act of 2008 is headed for President Bush's desk. He's planning to sign it. Will it stop the housing crash in its tracks and avert recession? Probably not.

Reading through Ben Bernanke's speech today about "Financial Regulation and Financial Stability" is enough to give a person whiplash. One second he's calling for actions to crack down on reckless lending.