Word: mortgagees
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Dates: during 2000-2009
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The mess caused by fast-and-loose mortgage lending in the U.S. has now blown into a perilous global crisis of confidence that has revealed both the scale and the limitations of globalization. Finance is built on trust, and suddenly that trust has been replaced by fear: fear among depositors...
The advantage in having the rest of the world use your currency is that you can borrow easily: that's why the U.S. government and U.S. companies have long been able to borrow cheaply and why mortgage rates in the U.S. have historically been low. If the dollar has to...
Dozens of protestors from local environmental and political activist groups lined up in front of the Bank of America in Harvard Square yesterday to protest the company’s purportedly risky investment practices that threaten financial and environmental stability. The public rally, during which participants chanted slogans such as...
Last week, nearly 1,000 colleges were told they couldn't access most of the $9.3 billion sitting in a short-term fund that had been offering slightly higher returns than U.S. treasuries. To prevent a run on the fund -12% of which was invested in mortgage-backed securities - the...
As he spoke, the future for British banking was looking grim. Behemoths such as HBOS and the Royal Bank of Scotland group had seen their shares fall by 39% and 42% respectively on Tuesday, continuing a trend set at the beginning of the week as the FTSE 100 racked up...