Fresh Prose...

"Grant that we may never forget that our common life depends on each other's toil." Book of Common Prayer
Dear country

Dear country

Bear with me. I am drinking red wine. But I want to tell you a story. But first know, I love you very much. In the background is a TV documentary on the trials and triumph of the US space program. I was ten years old when Apollo launched and Neil and Buzz put feet on...

read more
Do the right thing

Do the right thing

Photo by Nina Strehl on Unsplash Searching for a single smoking gun to explain the financial crisis is a fool’s errand. So many hands, so many set-ups, so many agendas--combined with massive movements of capital from all parts of the world--puts this crisis in the...

read more
The human toll

The human toll

Photo by Tom Pumford on Unsplash The horrible news spread quickly, thanks to morning radio. I was preparing to take my daughter to the orthodontist when someone reached me with the news that our acting CFO, David Kellerman, was found dead from an apparent suicide. The...

read more
2 hope

2 hope

Photo by Vaory Photography on Unsplash   I see you through the window through the rain outside on the sidewalk shifting from one foot to the other hesitant to knock.   God dropped you off this morning, didn’t he? And you’ve never been here before (in my...

read more

Political capture

Photo by Sabrina Mazzeo on Unsplash No book that deals with the GSEs is complete without mention of the steel-knuckled political charades Freddie and Fannie played when they were at the zenith of their powers. The supporting actors and thickening plot with its...

read more
Are we happy yet?

Are we happy yet?

Photo by Everton Vila on Unsplash Imagine you’ve just landed from Mars and you picked up a newspaper or created a Twitter account to learn about your new locale. You’d see passing mention of hurricanes, floods, violence, environmental degradation, trade wars and...

read more

Skin in the game

For a safe mortgage system, every participant needs to have capital at risk, or what the industry calls skin in the game. When house prices began rising a lot in 2004—double digit annual growth in certain fast-growing markets—lenders pressed the GSEs to relax the...

read more
A plea for those in harm’s way

A plea for those in harm’s way

Universe-making God who set the boundary of the seas and Jesus, Son of Man, who walked on them have mercy on the millions of people, animals and things caught in the path of destructive storms and floods.   As Florence unleashed her trillion gallons on North...

read more