Yes, after years of bashing the mortgage industry for lax underwriting, bashing the Federal Government for negligently low interest rates and blaming investors for vacuuming up homes with no-money-down loans, three guys from Harvard say they're all off the hook.

The emergency powers deployed by the Federal Reserve during the financial crisis may be causing the central bank no shortage of grief, but similarly bold action by the European Central Bank could go some distance toward blunting the impact of the Greek debt crisis.

The Federal Reserve's Board of Governors asked a federal appeals court Monday to reconsider a ruling that ordered it to disclose documents related to individual borrowing from its discount window and other "last resort" lending programs.

Fitch Ratings and Moody's Investors Service moved to dispel market rumors of a possible downgrade for Spain saying they both maintain the maximum triple-A rating on Spain with stable outlooks.

Details emerged on an American man of Pakistani descent taken into custody in connection with the botched car bombing in Times Square. He is due to appear in court to face charges.

SAN FRANCISCO - The U.S. Department of Housing and Urban Development today presented over $2.2 million to several fair housing organizations to help fight housing discrimination in Northern California. John Trasvina, HUD's Assistant Secretary for Fair Housing and Equal Opportunity, made the grant presentations to Bay Area Legal, California Rural Legal Assistance, Fair Housing of Marin, Greater Napa Fair Housing Center, Housing and Economic Rights Advocates, Project Sentinel, Pacific News Media and Fair Housing Council of Central California (see attached list below for project descriptions).

The Huffington Post is running hard with about from 2004. “Greenspan Wanted Housing-Bubble Dissent Kept Secret” is the headline, and it’s running with a large and unflattering picture of Greenspan. The story’s being picked up all over the place: , , and have all repeated that Greenspan tried to quash debate over the housing bubble by saying this: We run the risk, by laying out the pros and cons of a particular argument, of inducing people to join in on the debate, and in this regard it is possible to lose control of a process that only we fully understand. Except, if you look at the actual document, he’s not talking about the housing bubble at all. He’s responding to Vincent Reinhart, who’s putting together the minutes of the previous meeting, and wondering how much of the discussion on the subject of transparency to include in those minutes. There was a draft which included four paragraphs “covering the Committee’s discussion of its communications policy”, and the question was whether those paragraphs should be included or not. Here’s Greenspan’s quote in fuller context: Let me first follow up on your transparency assessment. I think Cathy Minehan has raised an interesting point. I would say this: We run the risk, by laying out the pros and cons of a particular argument, of inducing people to join in on the debate, and in this regard it is possible to lose control of a process that only we fully understand. We have a ratchet in here where, if we were to move forward, we can’t go back. So the concept of transparency is a very important concept but one that should be approached with a recognition that we cannot move back and forth on it. I’m a little concerned here that by raising certain issues we may not be able to backtrack. Essentially, what Greenspan is saying is that once the Fed starts talking in great detail about its own transparency, it has to be more transparent — just talking about it has that effect. And so there are dangers to putting lots of talk about...

Did you know that among seniors home equity accounts for 26 percent of household wealth?

It’s the first Super Tuesday of 2010, and both parties are waiting to see if anti-incumbent fever hits their candidates.

The Federal Reserve would like to congratulate, well, itself for the effective construction of its emergency liquidity facilities.