Word: mortgagee
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Former Vice President and environmental crusader Al Gore ’69 will speak at a Harvard-wide “celebration on sustainability” on Oct. 22, University President Drew G. Faust announced yesterday. The event will formally launch a greenhouse gas reduction initiative—first announced...
Financial experts discussed issues ranging from the causes of the current economic crisis to its potential ramifications at a panel moderated by Business School Dean Jay O. Light yesterday. Nicholas P. Retsinas, a lecturer of business administration at the Business School and a former director of Freddie Mac, traced the...
The proposed $700 billion bailout of the nation's beleaguered financial markets has become a taffy pull between the Bush Administration and lawmakers from both parties. Many on Capitol Hill believe Treasury Secretary Henry Paulson is seeking too much unregulated cash and power in his effort to stabilize the economy...
2. How long will the money last? The Bush Administration is proposing that the government's mortgage purchases be spread out over two years - while speed is of the essence, the Treasury needs time to set up a fair program to evaluate just what it's buying. There is a...
4. How will the Federal Government know what price to pay for the mortgages it buys? It won't. Even on Wall Street, no one knows how much the mortgage securities are worth. The government will hire experts to determine their value, but because so many are "sliced and diced...