Word: mortgagee
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But is this kind of big-money speculation by hedge funds and private-equity funds generally beneficial, or can it exacerbate an already bad situation in the real economy, just as derivatives did in the case of the subprime-mortgage meltdown?
Above all, it was having children of my own that most messed with my life cycle. Being allowed to walk out of the hospital with that child in my arms - no instruction manual, no warranty - sealed the certainty of adulthood in a way no car keys or paycheck or mortgage...
The middle and working-classes have been hammered by the Great Recession and no industry has taken it more on the chin than construction. Nationally, unemployment fell to 9.7% in January, but in construction it jumped to 24.7% from 18.7% in October. In many regions, union officials report 30% of...
The intern, of course, wasn't the only one who was risking the firm's dollars. McDonald, himself a relatively junior trader, had a Lehman-funded trading account of $450 million. In the years leading up to the financial crisis, Lehman Brothers built up huge positions in real estate, derivatives...
But academics and economists and even some Wall Streeters say proprietary trading and other principal investments played a much larger role in the losses that were at the heart of the financial crisis. What's more, if the firms had been barred from using their own money to buy mortgage...