Slog - Comments on The Irrationalities of the Credit System http://slog.thestranger.com/2008/06/the_irrationalities_of_the_creadit_syste Banks Find New Ways To Ease Pain of Bad Loans: In January, Astoria Financial Corp. told investors that its pile of nonperforming loans had grown to about $106 million as of the end of last year. Three months later, the thrift holding company said the number was just $68 million. How did Astoria do it? By changing its internal policy on when mortgages are classified on its books as troubled. The Lake Success, N.Y., company now counts home loans as nonperforming when the borrower misses at least three payments, instead of two.... Copyright 2008 Thu, 19 Jun 2008 14:07:08 -0800 Thu, 19 Jun 2008 15:52:09 -0800 http://www.movabletype.org/?v=3.34 http://blogs.law.harvard.edu/tech/rss Comment by Hihg-Rise As long as there's a disclosure, fine by me. How exactly is this irrational?

]]> Hihg-Rise http://slog.thestranger.com/2008/06/the_irrationalities_of_the_creadit_syste#c1055720 http://slog.thestranger.com/2008/06/the_irrationalities_of_the_creadit_syste#c1055720 Money Thu, 19 Jun 2008 15:33:33 -0800 Comment by Will in Seattle It ain't just them.

It's WaMu.

And that ... well, in addition to the layoffs happening tomorrow ... is not good.

]]> Will in Seattle http://slog.thestranger.com/2008/06/the_irrationalities_of_the_creadit_syste#c1055768 http://slog.thestranger.com/2008/06/the_irrationalities_of_the_creadit_syste#c1055768 Money Thu, 19 Jun 2008 15:52:09 -0800