Morning Roundup: Foreclosure Lawyers Are Ruining the Economy

  • Some say the New York Federal Reserve needs to decide whether it wants stability in the financial markets or whether it wants Bank of America to buy back some bad Countrywide mortgages the Fed bought at the height of the crisis. [Bloomberg]
  • You know who’s to blame for this whole foreclosure crisis? Lawyers. Greedy, greedy lawyers. [WSJ]
  • The Federal Reserve is working on a newer, kinder, gentler type of quantitative easing that offers a third path between the two current options of doing nothing and firing an inflationary bazooka at the financial system. [FT]
  • Speaking of inflation, nations across the globe are in a race to see who can make their currency the least valuable the fastest. [NYT]
  • Speaking of currency wars, Treasury Secretary Tim Geithner tried — and failed — to get other countries to agree on “norms” that would guide interest rate policy. Nice try, Geithner. [Reuters]

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