From Bloomberg this morning as stocks tumble: “This is a systemic financial crisis, there is no end to it,” Nouriel Roubini, professor of economics and international business at New York University, told Bloomberg Television. “It’s a vicious circle between a contracting economy and greater credit and financial losses feeding on the economy.” President Bush reminds [...]

 Today the lender orders the appraisal on a loan transaction. Looks like change is on the horizon since this setup is being blamed for inflated home values, fraud and to a degree one of the reasons for the mess we’re in. The issue is also murky because many mortgage companies also own appraisal houses. Also, [...]