boom and bust cycles
sastyk | May 21, 2012The always-thoughtful Kurt Cobb has a great piece on the intersection between the hydrofracking boom and the mortgage mess:
One fact ought to tell you all you need to know about the risks faced by homeowners signing leases for natural gas drilling on their property: Wells Fargo & Company, both the largest home mortgage lender in the United States and a major lender to the country's second largest producer of natural gas, Chesapeake Energy Corp., refuses to make home loans for properties encumbered with natural gas drilling leases.
This salient fact comes from an article (PDF) written for…