Closing the barn door after the horse is gone

Months after discovering that making no-doc, cash-back, inflated-appraisal loans to unemployed 24-year-olds might be a bad idea, Countrywide tightens lending standards.

How tight? Well, not so tight. Borrowers in the three worst bubble markets in the country will now have to put 5% down.

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Democrats plan to repeal state and local tax (SALT) deduction limits

Democrats are talking about repealing the SALT limits. What nobody's talking about is that SALT is largely irrelevant to the middle clas...