Archive for the ‘Stupid Advice File’ Category

Barry Ritzholtz: HAMP Prolonging The Agony

Some people disgust me and Mr. Ritzholtz is on the top of my list right now. 

Mr. Ritzholtz insists that the reason HAMP is not working is because homeowners can’t afford their homes.  He says it would be better to let the lenders foreclose and absorb the losses, and let the families get into “more affordable” rentals.  He says, in effect, HAMP is just prolonging the agony and if the process were just allowed to play out, the market would correct itself over time.  You can read his article here.

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News From The Alternate Universe of the Delusional

duh_can About.com’s LaToya Irby needs a serious reality check concerning her recent article, “How To Stop Living Paycheck To Paycheck” .

She talks about how living paycheck to paycheck is bad and places you at risk for getting into debt, as if this is suddenly a new revelation and if people would start paying attention, well, things would get better for them.  She  then comes up with some nonsensical solutions and platitudes that help no one and do not resonate during these times of high unemployment, cut hours, and high living expenses.

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