Why Consumers Default – Why Not More Renegotiating

The Federal Reserve Bank of Boston has put out a well-reasoned 52 page white paper looking at the reasons behind the foreclosure crisis and what should be done to stop it. The paper focuses on two key issues: the borrower’s reasons for defaulting on his mortgage and the lender’s choice as to whether or not to modify the [...]

U.S. Supreme Court Reviews Strip Search Case for Drugs in School

We often talk about the hierarchy of law. In a classic State vs. Federal case, The U.S. Supreme Court struggles this week to find a balance between privacy and public school safety in the case of a 13 year old Arizona middle school girl who was strip-searched on suspicion of having an ibuprofen pill. [...]