Word: assets
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...ready for the Toxic Asset Loan Factory. TALF, the U.S. government's effort to boost consumer lending, finally launches next week. The program - officially the Term Asset-Backed-Securities Loan Facility - is targeted at restarting the market banks use to fund credit-card, auto and other consumer loans. But some worry TALF could create even more risky bonds that our nation's wobbly financial firms don't want and can't sell - a perverse unintended consequence of a well-intended program...
Critics contend the plan does too much to stimulate demand for top-rated securities and not enough to draw in buyers for riskier bonds that have always been harder for banks to sell. "We need to get credit buyers back into the market," says John McElravey, director of asset-backed research at Wachovia Capital Markets. "But TALF only addresses part of the problem." (See the top 10 financial-crisis buzzwords...
...sometime last year, the mechanism broke down. Investors backed away from all types of consumer credit after getting burned in the mortgage market. Less than $200 billion in asset-backed loans was securitized in 2008, down from an annual rate of a trillion dollars at the height of the credit boom. This year there has been only a few billion dollars in securitized-debt deals. (See the worst business deals...
...FlyBy needs to convince you that you want to live in Adams House next year. We just want to remind you that a House doesn't automatically become the best just because you get placed in it. We’ve got an asset by asset breakdown of this coveted house after the jump...
Want to know if you should take that Gordon's shot at Leverett House next Wednesday night? We've got an asset by asset breakdown of the house after the jump...