Word: mortgagee
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The proposal for this unprecedented government intervention in the market follows a series of financial shocks in recent weeks, including the failure of Lehman Brothers, the government takeover of mortgage giants Fannie Mae and Freddie Mac, the largest government bailout to date, an $85-billion loan to the American Insurance...
For those that survive the turmoil and layoffs still to come, the future may not look like the halcyon days of the past—heavy deleveraging threatens to cut into profits, and Congressional leaders are already clamoring to include limits on executive compensation in the proposed bailout plan in...
So what caused the breakdown of a $700 billion rescue package that at one point seemed to have been amended to everyone's liking - with limits on executive compensation, more protections for taxpayers and homeowners, and additional oversight of the buying and selling of Wall Street's toxic mortgage-backed...
What it has all come down to is an incredibly high-stakes game of political chicken which no one wants to lose. House Republicans late Thursday were talking up an alternative proposal for the government to help insure the bad mortgage-backed assets rather than buy them up, but that...
Instead, they are now actively pushing an alternative proposal floated by Congressman Eric Cantor of Virginia that would force Wall Street to pony up some cash at the outset. Rather than buying all those troubled mortgage assets from ailing banks and investment firms, Republicans say, the government should instead insure...