Wall Street Journal Editor Speaks to School of Management March 28, 2008
Posted by Jack Kay in : Uncategorized , trackback
28 March 2008, Aula Magna Room, William S. White Building, University of Michigan-Flint, Flint, Michigan:
Six p.m. on a Friday evening and the room was packed for the School of Management Dean’s Speaker Series. James. R. Hagerty, an editor for The Wall Street Journal, provided an informative and provocative speech on the subject: “Envy of the World? How we Created the Mortgage Meltdown and Where we Go From Here.” He pointed out that in 2006, 38% of mortgage loans in Flint were likely sub-prime, ranking Flint 25th in the nation for such loans. Most of these loans, he indicated, were likely not new loans but refinances, today contributing to the high rate of foreclosures.
The School of Management at the University of Michigan-Flint is an Academic Program Partner with The Wall Street Journal. Students have access to the paper in print and online formats.
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Two of the houses on my Flint street are foreclosed. The rest are for sale. I can see the future–desolation, renters and pit bulls. I wish I had enough money to load my cute little bungalow on a flatbed truck and move it to a more economically dynamic environment.
Does anyone have another view, hope for the future? Any solutions?
How about we start regulating America’s financial institutions so we don’t get in another mess like this one? And perhaps another Democratic president would help.