Welcome to the mortgage-free housing recovery

A modest housing recovery is under way, even as bank lending remains tight. But cash buyers won't be enough to turn it into a robust recovery.

FORTUNE – It almost goes without saying that plenty of headwinds weigh on America's troubled housing market. To name a few: A weak job market, Europe's ongoing debt crisis and a persistent excess supply of homes for sale.

But now we can scratch one obstacle off MORE

Maybe Greece needs a run on the banks

Do the Greeks need bitter medicine? Pushing the economically ailing country's banks to the brink might be just what it takes to get austerity measures in place.

FORTUNE -- Bank runs typically spell financial disaster. Any responsible government would try to avoid one, but Greece could turn out to be a special case. If everyone pulled their money out from Greek banks, that might actually save the debt-ridden country from leaving MORE

As student loans grow, so does university leadership pay

Students graduating with mountains of debt this month might want to ask why their university presidents make so much money.

FORTUNE – For all the flak Wall Street gets over excessive pay, it's only fair to take a closer look at compensation at America's universities.

The topic deserves attention, as the rise in student debt forces colleges to confront soaring costs. This week, The New York Times began its series on the MORE

Corporate America's double standard on the deficit

CEOs are pushing Congress to reach a deal on the deficit, but what about corporate America's duty to help fix the economy by hiring more workers?

FORTUNE – It has been well established that America's ballooning deficit is one of the biggest risks for the U.S. economy. Congress tried to take action last year. But as we recall, no deal was struck after a baffling political tug-of-war that nearly sent the MORE

Read between the lines of rising consumer credit

Amid an economy full of imbalances, it's hard to read too much into the consumer credit report that shows Americans are borrowing more.

FORTUNE – U.S. consumers had long been known for their love of credit until the financial crisis changed everything. Credit cards and loans were suddenly out of favor as credit markets tightened and millions saddled with debt lost their homes to foreclosure.

Now the latest data have some suggesting MORE

Sandy Weill just wants to move on

Former Citigroup CEO Sandy Weill, who pushed to repeal the Glass-Steagall Act, is among those blamed for the financial crisis. Today Weill says it's time to stop blaming and instead focus on the future.

FORTUNE – After a long career on Wall Street, Citigroup's former CEO and chairman Sandy Weill is trying to put the near collapse of the bank behind him. In recent years, Weill has been focusing most, if MORE

Pre-recession unemployment rate is out of reach

A new report authored by a Federal Reserve president says unemployment cannot fall to pre-recession levels without an inflationary impact. So get used to high unemployment.

FORTUNE – U.S. jobs growth may have picked up earlier this year, offering the millions of unemployed hope that better days are ahead. But once again, the government's monthly unemployment report comes with disappointing news.

In April, the nation's employers created 115,000 positions, after adding 154,000 MORE

Will the rent be too damn high for Bernanke?

Rents are soaring, and that's bad news for inflation -- and for Federal Reserve chairman Ben Bernanke's plans to keep it low. 

FORTUNE – Most of us don't want to pay higher prices, but there's a growing debate over whether we should allow inflation to edge a little higher to help the U.S. economy grow.

Earlier this week, Nobel Prize-winning economist Robert Engle joined fellow prize winner Paul Krugman in building the MORE

Memo to Corporate America: Bribery doesn't pay

It may be tempting in certain foreign markets to float a little money to key players in order to get business, but studies show it often doesn't pay off in the long run -- even if you don't get caught.

FORTUNE – This week, a spate of U.S. companies have been accused of unscrupulously bribing their way into foreign markets. Adding to Wal-Mart's debacle in Mexico, the Securities and Exchange Commission MORE

China's consumers deserve some credit

Calls for an economic stimulus in China to boost consumer spending may be premature. The Chinese may be spending more than statistics suggest. 

FORTUNE – China's economy is growing at its weakest pace since 2009, as slumping exports and measures to cool the property market weigh on the economy. But that's not dragging down consumers.

GDP decelerated to 8.1% during the first three months of 2012, compared with a year earlier, according MORE