From treehugger.com
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Subprime Mortgages
How will subprime mortgages, and more importantly defaults of subprime mortgages impact the real estate market as well as the US economy as a whole?
Photo via First Strung
A new report from the Friends of the Earth says that cap and trade systems are dangerous. They allow traders to package emissions permits into complex financial products and sell them in bundles--much like they did with subprime mortgages. And we all know how that went. ...Read the full story on TreeHugger
- Could Cap and Trade Cause the Next Subprime Mortgage Scale ... (blogsearch.google.com)
- Goldman now seizing homes subprime mortgages bought (lmtribune.com)
- Subprime Mortgage Benefits (associatedcontent.com)
Goldman spent years buying hundreds of thousands of subprime mortgages, many of them from some of the more unsavory lenders in the business, and packaging them into high-yield bonds. Now that the bottom has fallen out of that market, Goldman finds itself in a different role: as the big banker that takes homes away from folks such as the Beckers.
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From huffingtonpost.com
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- How Goldman secretly bet on the housing crash (lmtribune.com)
von Kent Cherny und Yuliya Demyanyk * The global crisis is said to have originated in the US subprime mortgage market. This column argues that many of the most popular explanations that have emerged for the subprime crisis are, to a large extent, myths. Subprime mortgages have received a lot of attention in the US since 2000, when the number of subprime loans being originated and refinanced shot up rapidly. The attention intensified in...
From technorati.com
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- Subprime mortgages: Myths And Reality (freerepublic.com)
- Banks Were Pushing Subprime Mortgages Behind The Scenes (crooksandliars.com)
- The Next Subprime Mortgage Bubble Courtesy Of The FHA (nuwireinvestor.com)
Andrey D. Pavlov (Simon Fraser) and Susan M. Wachter (Wharton) have posted Subprime Lending and Real Estate Prices on SSRN. Here's the abstract: This paper establishes a theoretical and empirical link between the use of aggressive mortgage lending instruments, such...
From lawprofessors.typepad.com
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- Federal Reserve Watchdog Yawned, Rolled Over As Warnings on Subprime Loans... (paxalles.blogs.com)
- WaPo Rewrites History (feedproxy.google.com)
WASHINGTON, Oct. 5, 2009 (GLOBE NEWSWIRE) -- Mortgage servicer Ocwen Financial Corporation (NYSE:OCN) convened more than 30 representatives of grassroots and national housing advocacy organizations to share success stories, new ideas and insights related to preventing foreclosures and helping homeowners. The roundtable discussion was geared, in part, to provide additional context for an expected report by a Congressional Oversight Panel on the...
More perspectives...
From globenewswire.com
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From Jeffrey Friedman at Critical Review's very interesting "Causes of the Crisis" blog: Many banks had invested heavily in triple-A rated tranches of subprime mortgage-backed securities, and when delinquencies and defaults on subprime mortgages began to spike, the price of these tranches began to fall, calling into question the solvency of banks that had invested in them....How can the banks’ investments in subprime mortgage-backed securities...
From reason.com
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- Drop Moodys Into the Volcano (freerepublic.com)
Some guys at Bear Stearns ran a hedge fund. They bet that subprime mortgages would pay off big time. During the bubble, they were right. They and their investors made a lot of money. Last year everything changed. The market started tanking. How did the hedge fund managers respond? They sent each other some e-mails: "I think the subprime market...
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From federalism.typepad.com
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