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economy

Krugman: California represents the worst of current U.S. economic crisis

Shawn Gaynor, SF Public Press — Jul 13 2012 - 12:37pm

The budget pain facing California this year is not California’s fault, said Paul Krugman, the Nobel Prize-winning economist who has been among the most outspoken writers critiquing the government’s response to what he calls an economic “depression.” “Gov. Brown faces political constraints that, if anything, are even worse than those faced by President Obama, because of the craziness of California’s constitutional setup,” Krugman said at a recent appearance at the Commonwealth Club of California. He said Proposition 13, the state’s requirement of a legislative supermajority to pass tax increases, was the main culprit.

US will recover from home loan disaster: Bank of America’s Barbara Desoer

Rick Jurgens, SF Public Press — Aug 5 2011 - 2:27pm

The market slump that vaporized $6 trillion of homeowners’ equity, and left one in four owing more on their mortgage than their house was worth, will continue through 2012. But this too shall pass, said Barbara Desoer, president of Bank of America’s home loans unit, at the Commonwealth Club Thursday. “We have weathered, and we have overcome, cycles like this before,” she said. The calm atmosphere of the talk contrasted with the turmoil that has roiled housing markets in the Bay Area, and throughout California and the nation, since 2007.

Supervisors support fee deferment to encourage building in the city

Dana Sherne, SF Public Press — May 12 2010 - 3:57pm

Although one supervisor questioned whether allowing developers to delay paying some fees would spur building in the city, officials say the accommodation will create more jobs and spur the economy.

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