Word: mortgagees
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Dates: during 2000-2009
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But 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...
On the March 9 edition of CNBC's Squawk Box, Becky Quick was interviewing Berkshire Hathaway CEO Warren Buffett when the Oracle of Omaha expressed support for the Obama Administration's mortgage bailout. "Becky," co-host Joe Kernen broke in, "tell Warren you're mad that you've done all...
But at a time of pessimistic forecasts and rising fear, many toxic assets are probably worth more than the bank models or credit-default-swap indexes suggest. For example, a recent reading of the ABX index puts the value of even the highest-rated subprime mortgage bonds created in 2007...
The Pacific Institute report takes that abstract number and shows what it will mean for the cities, streets, bridges, beaches and power plants in America's most populous - and vulnerable - state. Nearly half a million people will be at risk for what's called a 100-year flood event. That...
First there was last winter's $168 billion economic stimulus package, followed by a $300 billion fund in June to help distressed mortgage holders. Then came $350 billion for the banks (and a little of that for the car companies), another $350 billion for the banks, $787 billion in economic...