Faulty credit ratings were a cause of the 2008 crisis. One whistleblower complaint argues that the same dynamic is happening again.
real estate
Posted inHealth and Social Policy
Let Them Eat Invoices
Steward grifter Ralph de la Torre, supposedly under criminal investigation on two continents, is now telecommuting from Versailles.
Posted inMoney, Politics, and Power
Neighborhoods Play Hardball
For decades, wealthy owners and financiers have gotten cities to pay for their sports stadiums. It’s not so easy anymore.
Posted inEconomic Policy
Federal Reserve Chair Acknowledges Slowing Labor Market
The Fed can do something about that, in line with their mandate of maximizing employment, by cutting interest rates.
Posted inEconomic Policy
The Fed Covers for Big Banks Amid Growing Stress
The central bank weakening the penalties for failing a living will plan is bad in theory. In practice, with commercial real estate defaults rising, it’s even worse.
Posted inVideos
The Prospect Weekly Roundup: Their Whole Racket Does Not Work
Our investigations editor takes us through some of the biggest scams of the week.
Posted inHousing
How an ‘Algorithm’ Turned Apartment Pools Green
RealPage, the rent-fixing software company currently under FBI investigation, also has apps for bogus fees, monetizing vacant apartments and inflating toxic property bubbles.
Posted inHousing
Homeowners Want Housing Prices to Go Up
This is ultimately the biggest hurdle for affordable-housing policy.
Posted inHousing
Hell Is an Underwater Landlord
Millions of tenants are trapped in a rotten cycle of overflowing trash, daily water outages, and a healthy rat population.
Posted inEnergy and the Environment
A Tacoma Community Sees Environmental Racism in Warehouse Project
Construction is under way in a city neighborhood already harmed by decades of air and water pollution.