Daily Archives: January 4, 2010

John Gapper

We have just experienced a crisis caused in part by people not understanding financial products in which they invested, and lacking the expertise to analyse them. So what should be done about a looming crisis involving people with dementia?

That question is prompted by a fascinating paper prepared for the Brookings Institution (via Rortybomb) on the vulnerability of older people, particularly those with dementia or cognitive impairment, to having their savings stolen or exploited. Read more

John Gapper

In his defence on Sunday of the low interest rate policies of Alan Greenspan, his predecessor as chairman of the Federal Reserve, Ben Bernanke identified other culprits for the housing bubble.

In particular, his speech focused on the decline in mortgage underwriting standards in the US and the switch towards forms of adjustable-rate mortgages with low initial “teaser” rates. Read more